Russ Bernthal
“Almost anything you’re looking for to help you advance your career and your company, you’re going find at AFT.”
Russ Bernthal
President
Profit Stars
Q: How long have you and your company been with AFT?
A: Jack Henry and Profit Stars, a division of Jack Henry, have been with AFT since the start of the organization. I have been with the Profit Stars for 8 years and I’ve been involved with AFT for about 4 years. We provide services to about 75% of the existing banks and credit unions today.
Q: Why is it beneficial for you to be a member of AFT? What makes AFT so special?
A: AFT is a pretty interesting organization. The first time that I attended a meeting, I thought it was unlike anything else I have ever experienced. In the earlier part of my career, I was involved in the cellular phone industry. At that time, everyone was trying to take over the market. Competitors were competitors and no one cooperated. It was clear from my first AFT meeting that this organization was very different. The best minds in the financial services technology industry got together to discuss critical issues. We talked about them, debated them and shared challenges that we were all facing. And, since then, the same thing has happened at all of the meetings I have attended. Even beyond that, what I think is really unique about AFT, is that I always walk away from the meetings with new actionable ideas. I always take home a page of action items – tangible things – that I can do to advance my organization and make my business better.
Q: You have a lot of resources within your organization and different contacts you’ve made in your career. How would you rank AFT in terms of viable resources?
A: It’s at the top of my list for two reasons. First, as a core provider, it is important to us to build new relationships with companies who can help us offer new products and services to our customers. Second, it gives me an avenue to understand how our competitors are operating. For example, I was concerned that my implementation times might be taking too long for a specific product. I was able to leverage a relationship that I made at AFT and we talked about what is involved in implementing virtually the same product. As a result, we both walked away with some ideas about how to change our processes. Each of our competitive positions remained the same , but clearly, it’s better for our customers and the industry. That’s what’s important. And it came out of a relationship I made at AFT.
Q: When is a good time for a company to join AFT?
A: I don’t think it matters. There are a lot of people in AFT that love to mentor, help, and coach other members. There is an opportunity for companies in the early stages of their business to come and get involved, and tap into that coaching. There are smaller firms concerned about getting investments for their companies and asking questions about the best ways to use marketing to grow their business. There are larger companies who are there to share insights and who build relationships to expand services to their customers. There are people, like me, who have sold their companies to a core processor and there are people who have worked at core processors their entire careers. There are people who have done multiple start ups, and people from companies who have been in business for 10 years or longer and are looking for ways to grow their business. At a minimum, you have to be running a business and be beyond writing the business case and securing initial capital. But once you’re there, you can meet people who can help you answer any kind of question because the experience level of the membership is so diverse.
Q: Why should another company that is working with financial institutions in the technical space join AFT? What would you tell the CEO of that company about why they should?
A: AFT is a place where the leaders in our industry come together and talk about critical issues and build relationships and partnerships. It is a place where you can explore the latest technology trends, new service delivery techniques, or even regulatory changes. Almost anything you’re looking for to help you advance your career and company, you’re going find at AFT.
Q: Now that we’ve been talking about AFT and you’ve been thinking about the value of your membership, is there anything else that you would like to share?
A: People will get out of AFT what they put into it. If you join AFT with the intent of making friends, building new relationships, and getting involved, it’s truly an amazing organization. I’ve only been on the board for half a year, yet it is amazing the relationships that I’m building with people who really add value to my life. Not just my business life - I enjoy them as people as well. It’s an organization where you walk through the door and you know you’re with friends. And that’s unique.
Q: If you were talking to the full membership now, what advice could you share with them to get the most out of AFT?
A: Get involved. Lots of people ask me how they can get involved or how they get to be on the Board or on a Committee – and that’s really motivating. I encourage them to make it a regular process. Keep coming to the meetings and keep asking what more you could do to be involved.