In February 2020, BITS celebrated its 15th year in business as a leading managed services, network, security, and hosted voice provider for community banks and credit unions. Last year, BITS experienced over $26 million in revenue and expanded its services to customers in 26 states.
Launched by the Atlantic Community Bankers Bank (ACBB) in February of 2005, BITS was formed specifically to help community financial institutions optimize and secure their communications infrastructure with innovative solutions and operational standards. Today, through strategic partnerships with technology leaders like Cisco and SecureWorks, BITS provides state-of-the-art solutions for voice, collaboration, networking, and security for over 100 community financial institutions.
“Industry statistics show that many other technology companies that started in 2005 like BITS are not around today, especially those that provide similar services to financial institutions like we do,” says Jerald Murphy, BITS CEO since 2013. “BITS is proud of the fact that we’ve been able to provide connectivity, hosted voice, security, and managed services to a large number of community banks and credit unions throughout the past 15 years.”
BITS, headquartered in Newark, NJ, has over 50 employees located in nine different states. BITS’ average employee tenure is eight years, with several employees with BITS for over 13 years.
“BITS greatest asset is our people. We’ve had a few team members that have been here since the beginning. Throughout our 15-year existence, we have kept our focus on BITS’ values: Best in class quality; Integrity; Teamwork; and Service to the community. Our employees know that our customers aren’t just the financial institutions we work with – it’s the communities they serve as well. We know that our service has to be top-notch so that our customers can serve their members and customers, from the young person that comes in for his first bank account to a couple buying their first home. Our customers’ customers are real people, and we never forget that,” Murphy explains.
Since 2006, BITS has held Cisco Partnership certifications in Collaboration, Security, and Managed Services. BITS values its partnership with Cisco and its high-quality products and resources. Because of this partnership, BITS is able to provide better pricing on all products and services for its customers.
“Cisco has been an integral partner and resource for us since the beginning,” explains Ryan Patrick, BITS Chief Technology Officer and a member of the BITS team since 2005. “Our team values the training Cisco provides, and we’re proud that three of our engineers are Cisco Certified Internetwork Experts (CCIE), which is an incredibly difficult certification to achieve. 90% of our technical and support teams hold industry certifications, and we’re constantly educating ourselves to stay ahead of what’s next.”
With several banks working with BITS since 2005, and another 25 banks with BITS for over ten years, BITS acknowledges its customers, and the partnerships they have formed together, as they celebrate this important milestone.
“We wouldn’t be here today without great customers and the incredible relationships we have built with their teams over the past 15 years,” says Murphy. “BITS is here to provide solutions to help community financial institutions efficiently and securely communicate with their customers and communities. We’re dedicated to providing the resources and services to community financial institutions to help them meet the needs of tomorrow, today.”
In today’s digital world, the banking industry is rapidly changing and financial institutions need to adapt. Compliance is costly, and cyber security threats are constantly evolving. And with increased demand for more online and mobile technologies, your bank needs more than just a dial tone to provide great customer service.
At BITS, we provide solutions that will help your team optimize and secure your digital environment and free you to do what you do best – service your customers! Through strategic partnerships with technology leaders like Cisco and SecureWorks, we offer state-of-the-art solutions for voice, collaboration, networking, and security for community financial institutions, specifically developed to simplify banks’ technical, operational, and regulatory requirements. Our services provide cost savings, unmatched efficiency, risk reduction, streamlined solutions, and peerless, always-on customer support.
BITS is owned by the Atlantic Community Bankers Bank and our board is made up of community bank CEOs, providing the insight needed to understand and address challenges facing community financial institutions. BITS is Service Organization Control (SOC) 2 Type II Compliant and endorsed by multiple Bankers Banks and State Banking Associations.
For more information, please visit www.bits.us or contact Christian Ericson, CMO (973) 474-1828.