Lessons Learned
We asked Korey, Erin, and Amanda to tell us what they learned through this experience. Their answers revolved around communication, trust, and planning as key components of preparing for and navigating a crisis.
Lesson 1
Choose a Core Partner You Know and Trust.
Crisis or not, it’s extremely important to trust your vendors. The CrowdStrike outage was an opportunity to learn just how critical communication is in a partner/vendor relationship. For both Erin Simpson of Encore Bank and Korey Keith of Bodcaw Bank, this event reinforced why partnering with reliable and communicative partners is so important.
Korey emphasized the need for complete trust and open communication with a core provider. “Your core provider is your largest vendor, no doubt about it. So you better have complete trust with them, you better have an open dialogue with them. And you better make sure that both companies have the same long-term plans,” he stated.
This trust was solidified during the CrowdStrike outage when Korey texted Smiley Technologies' CEO, Elizabeth, at 8:53 AM on Friday morning: “Your team did a remarkable job in handling this CrowdStrike issue. It is the willingness and professionalism of your team to seek excellence and solve problems that keep me with you all. I had all the confidence in the world that we would be fully functioning today.”
Erin Simpson echoed these sentiments, emphasizing the importance of a true partnership. "I have been banking for 25 years, and I've worked with different cores throughout my career. I've also been in different roles," she began. Erin described how, when she joined Encore Bank, they decided to build a technology-first bank with end-to-end efficiencies and connectivity. "We knew that we had to have a partner who was going to work with us to build that and to grow that, and to adapt and change," she explained.
Erin highlighted the collaborative nature of their relationship with Smiley Technologies, describing it as a two-way partnership. "It became very clear to me that a partnership is best when it's a true partnership. We look at vendors as partners. It's not one-sided. We want to make you better. We want you to make us better. We want to help you when you have challenges. We want you to help us when we have challenges," she said.
Erin also stressed the value of genuine relationships over purely transactional interactions. "I don't feel like a number, you know, I feel like I'm known. The people at Smiley are friends, and we know their families.”
"It became very clear to me that a partnership is best when it's a true partnership. We look at vendors as partners. It's not one-sided. We want to make you better. We want you to make us better. We want to help you when you have challenges. We want you to help us when we have challenges."
Erin Simpson, Encore Bank
Lesson 2
Communicate, Communicate, Communicate.
Both Erin and Korey reflected that transparency and over-communication made all the difference in how Smiley navigated the crisis.
Erin recounted the constant updates and clear communication from the Smiley team during the crisis. "When unknowns occur, the most important thing you can do is communicate, be it with your customer, your vendor, et cetera. [Smiley] over-communicated even when they didn't know what was going on.” This level of communication not only kept the bank informed but also reassured them that the situation was under control.
Korey also noticed Smiley’s consistent and detailed communication throughout the crisis. "I think the key to leadership is how you manage adversity and crisis situations. And it always goes back to being very clear with your communication, very strategic in how you relay the information, but yet be very forthcoming with all you can," Korey noted.
Erin and Korey’s insights show how trust and openness in communication are not just about delivering messages but also about building confidence, managing expectations, and ensuring everyone is aligned. They felt supported and informed, and this made the crisis less scary.
"When unknowns occur, the most important thing you can do is communicate, be it with your customer, your vendor, et cetera. [Smiley] over-communicated even when they didn't know what was going on.”
Korey Keith, Bodcaw Bank
Lesson 3
Have a Plan That Aligns with Your Values.
The CrowdStrike outage also showed how important it is to have an effective disaster recovery plan—and this plan should align with company values. For Smiley, a customer-focused software company, this meant prioritizing customer-facing systems immediately after addressing mission-critical infrastructure like servers. The goal was to ensure that banks could continue to serve their customers with minimal disruption.
Erin Simpson of Encore Bank reflected on how quickly the entire system could be compromised: "It was really scary to us how fast the whole system could be taken down, and it emphasized the need for us to have controls to prevent failures when things like this happen, to have backup functionality, backup machines," she explained. Erin noted that even when some machines couldn't be fixed immediately, having extra equipment on hand allowed the bank to continue operating. "We made sure that we can operate, even if we can't rely on technology, and we've got to put that into place as soon as [a crisis] happens," she added. This proactive approach was crucial in mitigating the impact of the outage.
Amanda Lloyd, Director of IT Infrastructure & Operations at Smiley, detailed how their disaster recovery plan prioritized customer-facing systems to align with their customer-focused values. "My focus was on the people who are customer-facing. I truly believe we're here to help our customers help their customers," Amanda explained. The recovery plan started with teller PCs to ensure that bank branches could continue to serve customers. "We called the branches and focused on tellers. Then we started with their capture machines, so they can transmit their work to us so we can process it," Amanda recounted. This methodical approach ensured that the most critical customer-facing functions were restored first.
Smiley also had a plan for the local banks in Little Rock, deploying two technicians to go on-site to support wherever was needed, anticipating that tellers would need the most help on payday Friday. "They just started helping people where they could," Amanda added.
