BITS is a telecommunications services provider exclusively catering to the community financial services industry. We offer a complete platform of next generation telecommunication services, 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 funded and owned by several banker’s banks as well as community bank investors. Our services are highly customized to help community financial institutions improve their efficiency ratios by reducing existing costs for all voice, data, internet, network security, core, and ATM circuits.
The company is an exclusive co-operative, which operates on a small profit margin. Our unique ownership provides the insight needed to understand and address the unique challenges facing community financial institutions.
To date, BITS customers have saved a significant amount of money on their second largest non-interest expense, after salaries and benefits. Savings (at times) have translated to six or even seven figures over a contract term.
BITS reduces the regulatory burden financial institutions encounter. BITS is Service Organization Control (SOC) 2 Compliant and endorsed by multiple Bankers Banks and State Banking Associations.
More than 100 community financial institutions have already benefited from our services.
Why Choose Us
At BITS we understand every financial institution has different needs. That’s why BITS conducts a (free) full and in-depth analysis, ensuring we tailor our proposed solution to meet your financial institution’s current and future growth demands. We help with your strategic business goals. There is simply no other provider who offers this level of customization and understanding of your specific requirements.
Over 100 financial institutions trust BITS to provide a managed services approach to their technology platforms. We provide a robust but flexible “Communication as a Service” solutions. At BITS we pride ourselves in working with our customers on a personalized level. We know all our customers by name and develop long term relationships; your community financial institution will never be ‘an account number’ to us.
Our complete solution eliminates the need for the 8 or more vendors the average community financial institution currently contracts and manages (to deliver their voice and network services). Even by choosing BITS for only one solution (voice or network), you can eliminate several vendors and simplify FFIEC regulatory compliance. With less vendors to manage, you and your IT team can get back to doing what you do best, focusing on your customer. Our solutions, with continuous upgrades (free), will let your community financial institution leverage the same powerful equipment/technology as the world’s largest banks.
Our services are SOC 2-compliant, meeting the security, business continuity, and disaster recovery requirements of the financial services industry. We provide our customers with up to date documentation and a growing knowledge base that tackles changing regulatory questions. We minimize your regulatory burden, preserving your future capital requirements and freeing up your internal resources. Our full network and data center redundancy, means you don’t need to worry about service disruptions caused by natural or man-made disasters and our around-the- clock network security monitoring powered by Dell Secureworks, provides peace of mind by knowing your network is protected.
BITS has established private data connectivity to several of your key business partners, including core processors, ATM providers and more. We understand bank related applications and the requirements they have related to bandwidth, latency and redundancy. Simply put, our engineers speak banking.