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Birmingham, AL-based SouthTrust Bank, with more than 700 branches across the south, is saving more than $5 million annually in telecommunications and other costs after installing an IP PBX from Cisco Systems, and moving from BellSouth to AT&T for networking. Cost reductions include savings of 20 percent annually in local and frame-relay circuits; 51.3 percent in moves, adds, and changes; 93.9 percent in conference call charges; and 38.4 percent in long-distance charges. Bonus: a disaster-recovery plan should the Birmingham center take a hit; all branch telecom functions would immediately be backed up from an Atlanta site.
To see the full story at Bank Technology News, click here.