Type Private Founded 1 February 1981 | Industry Financial Sector Number of employees 10 | |
Products branch automation, core banking, online banking Headquarters Grand Island, New York, United States Parent organization Evans Bank, National Association | ||
Suchak Data Systems, Inc. is a provider of core processing, online banking, branch automation and other related information products and outsourcing for community based financial institutions.
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Company history
Suchak Data Systems, also known as SDS, is a privately owned corporation that was formed in 1981 by the company's founder and CEO, Vinod D. Suchak. Mr. Suchak recognized that community banks were small and agile organizations and their needs were not effectively being meet by large service organizations.
Over the years, SDS has been successful at organizing cooperative efforts between community banks to develop new technology and services. These collaborative efforts solved a major problem for many small community banks, in that they did not have the technology resources to independently compete with large Regional and National Banks. Sometimes these efforts lead to developing new services and technology before the larger banks.
In 1998, SDS expanded its offerings into a "service bureau" to combine various functions into one package for community banks, and began operating their newly created data center to drive the banks ATM's and provide EFT and Telephone Banking Services from Grand Island, NY.
In 2000, SDS expanded its offerings to include Online Banking Solutions, including Cash Manager, Bill Payment and online purchases of U.S. Treasury bonds. In developing the technology that allowed community banks to purchase U.S. Treasury Bonds online, an award was presented to Mr. Suchak by the U.S. Treasury Department in 2001.
In 2002 SDS began offering Check / Document Imaging and Deposit and Loan Accounting Systems.
Since then, SDS has added other offerings such as Branch Capture, Remote Deposit, Teller Automation, Teller Capture, BSA and other strategic solutions that help community banks grow through technology.