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FLEET SELECTS VFA's FACILITIES MANAGEMENT SOLUTION FOR BRANCH AND ATM LOCATIONS
Boston-Based VFA Adds FleetBoston Financial Corporation to Its Growing List of Corporate Clients
Boston, MA – January 14, 2003 – VFA, Inc. today announced that it has been selected by FleetBoston Financial Corporation to perform a comprehensive facility assessment audit of its retail network of branches and remote ATMs throughout eight east coast states. VFA has implemented its Capital Planning and Management Solutions (CPMS) approach to identify building and design issues that will enable all FleetBoston branches to strengthen customer and employee experiences and meet retail environmental branding standards.
With a growing number of branches and ATMs acquired in recent years, FleetBoston has instituted a corporate-wide program that will assess environmental issues and standards across its branches and ATMs. The financial services provider enlisted VFA to survey its entire retail branch and ATM portfolio to identify the conditions of each building as well as existing needs at each location. The assessments will allow FleetBoston to prepare a plan to present a consistent image as the leading commercial banking provider in the Northeast by addressing functional and design inconsistencies resulting from growth and acquisitions. The facilities audit will also enable FleetBoston to address items ranging from the condition of the parking lot to the level of customer privacy in order to obtain an accurate inventory of each building’s design and renewal needs for budgeting and capital planning purposes.
“FleetBoston’s relationship with VFA will help to build a foundation to ensure that all branches and ATMs represent our high-quality standards, providing a consistent customer and employee experience at all Fleet locations,” said Alison Rourke, Fleet’s Director of Distribution Strategy and Performance. “Fleet selected VFA because its comprehensive Web-architected software and integrated condition assessment methodology met our needs for developing an overall capital plan and rational budget approach for 2003 and beyond. VFA’s software, including an inventory tracking component, enables us to have very specific items, such as color codes, material types and mechanical systems’ useful lives, at our fingertips so we can pinpoint what we have and where we have it.”
Prior to working with VFA, Fleet stored all of its physical plant and maintenance information in decentralized databases. VFA’s CPMS approach, which includes the Company’s core software platform, VFA.facility, allows FleetBoston to create and maintain a central repository of detailed building information for a coordinated and comprehensive approach to the management of its retail facilities. To date, VFA has enabled FleetBoston to meet project goals in terms of surveying locations, updating the database and developing budgets.
“Fleet is a leader among financial institutions in recognizing the increased return on investment it can achieve from an integrated lifecycle facilities management and capital planning program,” said Jerry Kokos, President and CEO, VFA. “Customers interact with bank facilities on a daily basis, and Fleet’s commitment to its consumers and employees is evident in its drive to provide high quality, well-maintained properties. A CPMS approach based on accurate building data and business best practices is key to delivering a consistent corporate brand and image portfolio-wide.”
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