• Saratoga Business Report
Thursday, 19 May 2022 14:40

BankWise Technology Knows Banks Featured

Written by Mike Piekarski
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Sergei Morgoslepov knows banks; he has been working for or at financial institutions for nearly 30 years. With his background in information technology, he also knows everything from software development to supporting infrastructure to applications. Likewise, he knows when things can be improved. 

“Banks have many diverse systems, and sometimes it takes a lot of manual effort to make them work together,” he said. “You have to take an extract from one system and move it into different systems. A lot of those systems are in the cloud or in different physical locations. Where we come in is integrating those diverse systems and making them work better together.”

The “we” to which he refers is BankWise Technology, whose purpose, according to its website, is “custom development for financial institutions.”  

Started in 2018, BankWise is a Saratoga-based company that streamlines processes for banks and credit unions. The company has created more than 20 applications, including what it calls “a full-featured web-based banking system” as well as document management systems, compliance apps, and loan origination systems, to name a few.

“We streamline back-office processes (the operational aspects of a company),” said Co-President and Chief Technology Officer Morgoslepov, who came to Saratoga from Europe as a software developer in 1997. “We can come in and automate (those processes, which) makes it work more smoothly every time—eliminating errors.” 

Pictured Left to Right: Sergei Morgoslepov and Rob Ward

The Idea for BankWise “was based on the needs of banks that we worked for,” Morgoslepov, a resident of Wilton, said of himself and his colleagues. “It was organically grown. We had a lot of different solutions that we could offer. The idea was to market those solutions to other banks.”

BankWise boasts three main operational pillars: Happy Banker, a “plug-and-play” application that helps track and manage compliance details through four prime modules that can integrate with a bank’s core systems; RPA (robotic process automation), which is software programmed to handle repetitive tasks; and custom development and technology consultation.

Though the company’s marketing outreach is national, “our focus is more on the community banks or regional banks,” said Chief Marketing and Sales Officer Rob Ward, a friend of Morgoslepov since the two met each other 18 years ago at Adirondack Trust in Saratoga—Ward as an employee and Morgoslepov as a software consultant later hired by the bank.

BankWise currently has six employees. In addition to Morgoslepov and Ward, the others are Co-President and Director of Sales Joe Mastrianni and developers Rob Kudla, Sandra Muller, and David White.   

“We’re a small boutique company, and Sergei and the team know community banks real well,” 

said Ward, a career banker who came out of retirement in 2020 as a favor to Morgoslepov. “We all worked in community banks, and it’s a great niche, an easy-to-work-with group.” 

“That’s what sets us apart (from the competition),” Morgoslepov said. “We already know banking. We speak the same language, (and) we know all the regulations. We have a huge advantage from that standpoint.”

In addition, he said, “We really like what we do. We like to watch the results of our products in action and helping other people.”

The company’s website is www.bankwisetech.com, and those interested can make contact via This email address is being protected from spambots. You need JavaScript enabled to view it. or by phone at (518) 303-3979.

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