This week we’re beginning our series of GonzoBanker interviews with key industry vendors. Our first interviewee is with FUBAR Technology, a long-time player in the banking market. We recently sat down with I.M. and Howie Fubar, brothers who co-founded the company.
Gonzo: Tell us a little about your product.
I.M.: FUBAR Technology is a leading solutions provider to the financial services industry. Many years ago, we developed a banking product call FUBARware. It isn’t just a product. It’s a miracle, really, a powerful development platform that utilizes open architecture, industry-standard programming languages, a high-end relational database, and re-usable objects, all utilizing a closed-loop design. Our systems, which interact seamlessly with all other applications, are highly customer-centric, scalable and extensible.
Gonzo: What’s your ancillary product strategy?
Howie: Well, the real Wall Street darling has been our new FU-CRM product. We repackaged and renamed our branch platform, call center, MCIF and profitability applications as “FU-CRM” and saw revenues skyrocket 15% with no new development. Stinkin’ genius!
I.M.: Yeah, and the banks have been eating it up. FU-CRM has gone over better than when we renamed our CIF as a Data Warehouse solution.
Gonzo: Who are some of your banking customers?
Howie: We have many. Two of our early successes in the ’80s were Lincoln Savings and Continental Bank. Recently, we have been working with many Japanese banks through our international group.
I.M.: But we’re not limited to finance. Our solutions port well across several vertical industries. We worked for years with the U.S. Government to automate their purchasing program. The Post Office is another of our clients. And in retail, we count Montgomery Ward as one of our long-term customers.
Gonzo: Tell us a little about your bank client base from a macro perspective.
I.M.: Our prospects are in the $1 to $10 billion range, but our install base averages $450 million. We mimic the armed forces in our client base communication philosophy. Our prospects don’t ask and we don’t tell.
Gonzo: What would you say accounts for your success?
Howie: We like to think it’s our customer service philosophy. We call it the “FUBAR partnership.” Really, it’s a philosophy that encompasses quality products and high-touch service. And let me add that our latest reports show that since we reduced our client support staff from 10 to 3, complaint calls logged have fallen a full 70%.
I.M.: This may sound a bit immodest, but we have a saying in our company. Whenever we install a new client, we always say they have been “FUBAR’d”.
Gonzo: Do you have other lines of business?
I.M.: Oh my, yes. We decided many years ago the potential of our systems would not be met unless our clients changed their outdated processes. FUBAR Consulting focuses on the alignment of strategy and systems combined with continuous process improvement. Within FC, our “You need a plan” and “Restating the obvious with words of five syllables or more” practices are really taking off.
Howie: We find that this philosophy can be infectious. Once we have FUBAR’d a bank’s systems, and we apply FUBAR Consulting to operations, we find there is an excellent chance employee morale and the entire corporate culture will be FUBAR’d in short order.
Gonzo: How is your customer retention?
I. M.: Our motto is “once a FUBAR client, always a FUBAR client.” Our hidden camera footage from the hotel rooms at the user conferences tends to ensure that our customers STAY customers. Let’s just say that at FUBAR, we put the “vice” in service!
Gonzo: Well, thanks guys; its been…uh…revealing.
I.M.: Back at you, Gonzo. Rock hard, ride free.