Core Processing Contract Negotiation

Because ICI Consulting negotiates Core Processing contracts for hundreds of banks and credit unions, we are able to put your financial institution in a better bargaining position.

Client challenges
Solutions benefits
Our experience

Client challenges

Once vendor evaluations are complete, the contract negotiation process begins among top selected vendors. The banks and credit unions that can obtain inside information on those vendors are better positioned to request and obtain best and final pricing. You also have to know how to read and scrutinize vendor proposals that are often lengthy, confusing and full of legalese. Understanding what questions to ask, what terms and conditions should be added in your best interest and what reasonable support terms are, all give you an advantage in negotiating these deals.

Solutions benefits

ICI Consulting has negotiated with virtually every major Core Processing vendor. We have meticulously constructed more than 800 vendor contracts amongst our 400 clients. ICI maintains a proprietary database of vendor pricing and service terms upon which we can draw. This information works to your advantage during contract negotiations. When you work with ICI, we will help you identify the best long-term solution for your bank or credit union. ICI will assist your financial institution in making a streamlined, solid vendor decision, while obtaining the software or outsourcing services you require at a fair market price.

Our experience

“ICI assisted us in identifying the best solution, securing a competitive price and expediting the decision-making process. We also secured excellent contractual terms, performance conditions and service-level agreements with financial penalties. ICI gave us the inside scoop on vendors, saved us time and helped us make an objective decision. Your conversion consultants also kept us informed each week via conference calls and onsite meetings.” Robert Streit Vice President, Beneficial Savings Bank
Here are just a few examples of Vendor Evaluation/Contract Negotiation engagements that ICI Consulting has delivered:
  • Texas Credit Union ($150 Million): Core Processing Vendor Evaluation and Contract Negotiation
  • Northwest Bank ($3 Billion): Core Processing Vendor Evaluation and Contract Negotiation
  • Iowa Community Bank: Check Imaging Business Case and Vendor Evaluation
  • Massachusetts Bank ($1.3 Billion): Core Processing Vendor Evaluation and Contract Negotiation
  • Wisconsin Bank ($900 Million): Core Processing Vendor Evaluation
  • Tennessee Bank ($1 Billion): ATM Processing Evaluation, Check Imaging Business Case and Vendor Selection
  • New England Bank ($150 Billion): Lockbox Business Case (In-House vs. Outsourcing), Vendor Evaluation and Conversion
  • Southern Bank ($9 Billion): Online Banking Strategic Recommendations, Vendor Evaluation and Implementation
  • Virginia De Novo Bank: Core Processing Vendor Evaluation
  • Wisconsin Bank ($3 Billion): Remote Capture Strategic Recommendation Report and Vendor Evaluation
  • Vermont Bank ($3 Billion): Check Imaging Business Case and Vendor Selection
  • New England Bank ($150 Billion): Check Processing Business Case (In-House vs. Outsourcing), ATM Processing Vendor Evaluation and Conversion
  • Washington Credit Union ($900 Million): Check Image exchange and Remote Capture Business Case, Vendor Selection and Implementation Assistance
  • Texas Bank ($2.3 Billion): Core Processing Vendor Evaluation and Contract Negotiation
  • Connecticut Bank ($17 Billion): Mobile Banking Vendor Evaluation and Contract Negotiation
  • Virginia Bank ($1.8 Billion): Core Processing Vendor Evaluation and Contract Negotiation
  • Maryland Bank ($1.7 Billion): Core Processing Vendor Evaluation and Contract Negotiation