Case Study: Independent Financial Bank Group improves governance, onboarding, and analytics with evolv Consulting

Independent Financial Bank Group cuts supplier onboarding time 47% with evolv Consulting

Independent Financial Bank Group (IF), a community-focused bank, faced significant challenges managing policies and infrastructure during a period of rapid growth, which jeopardized its Federal Bank Charter. The bank needed to enhance its risk management for suppliers and third-party contracts and required guidance on a new governance model. To address this, IF partnered with evolv Consulting for its expertise in data management and change management solutions.

evolv collaborated with various IF departments to design and implement a supplier and contract lifecycle management tool. The solution involved maturing compliance policies, integrating data sources, and migrating to Snowflake for data governance. This initiative secured the Federal Bank Charter approval and achieved substantial efficiency gains, including a 47% reduction in supplier onboarding time and a 30% decrease in contract processing time, significantly improving operational excellence and decision-making capabilities for IF.