Hurricane Sandy is expected to bring eight-to-twelve-foot storm surges and 75-mile-per-hour winds to the coastal areas of Westchester county in New York today. But John Tolomer, president and CEO of Yonkers-based The Westchester Bank, doesn't sound concerned. The bank's shift toward digital banking mean downed branches have a minimal impact on customers and the business itself.
The bank closed its branches this morning due to concerns that employees might not be able to get home safely. "Because we knew about the storm, we were able to get a few people in this morning to post signs about the branch closing and to make sure the ATMs were fully loaded in case people wanted to get cash," he says. But in conversations with customers yesterday, the disaster recovery team found out that most customers weren't planning to leave their home anyway, given the forecast.
Despite the closed branches, business is going on much as normal for the bank. "We have several people working remotely, so we've been able to get wire transfers done," Tolomer says. "We've been able to conduct business, just remotely." The bank had already processed several wire transfers by 10:00 this morning.
The bank's customers, which are mostly small and medium sized businesses, have already shifted their habits from branch banking to online and mobile banking. "We do more transactions through remote deposit typically than through our branches because small and medium size business owners don't like to take the time to go to the bank," says Tolomer. "Customers are able to scan their checks, and that information can typically be uploaded to some of the more popular accounting systems, like QuickBooks, so they can update their general ledger."
When might the bank re-open its branches? "It will depend on what happens with the weather," Tolomer says. The hurricane is forecast to hit Westchester from midday to midnight. "To the extent we can get people in, we will have a skeleton crew that can get in to open the branches if the roads are passable."
