Core Vendor Evaluation

On average, ICI assists in the Core Vendor Evaluations and the purchase of contracts worth more than $400 million each year.

Client Challenges
Solutions / Benefits
Our Experience

Client Challenges

Most institutions purchase new technology solutions every five to seven years. Evaluating and choosing the new solution in a timely manner can be a formidable task. Drafting a fair Request for Proposal (RFP) document, fielding vendor questions, building vendor comparison charts and scorecards, and checking references is just the beginning of a long list of to-do’s that should be orchestrated during the process. Organizations often struggle to find the time to coordinate such a huge project amidst regular daily activities.

Solutions / Benefits

ICI consultants assess new technology solutions every day. Our consultants are experts in streamlining the evaluation process and identifying the most cost-effective direction. We position you for the best installation and support commitments available and will protect you with essential contract verbiage. Because we are looking at it from an outside perspective, you gain the benefit of a completely objective viewpoint. We separate fact from marketing optimism and give you the desired apples to apples comparison of their offerings that you need to make a solid, long-term solution for your bank or credit union.

Our Experience

“As a community bank, we were skeptical about spending any funds on an outside Core Processing consulting entity. However, your people helped Peoples Bank save many times the actual consulting fee, and you gave us true insight into vendor differences. Part of our decision to use ICI was based upon your reputation for objectivity. Because ICI does not have financial relationships with any hardware, software or outsourcing vendors, it made our consulting decision much easier.”

Jared Manatt
Vice President, Peoples Bank of Arkansas

 

Here are just a few examples of Core Vendor Evaluation and Contract Negotiation engagements that ICI has delivered:

  • Alabama Bank: $550M assets
  • California Bank: $230M assets
  • Colorado Bank: $280M assets
  • Florida Bank: $365M assets
  • Indiana CU: $1.3B assets
  • Kansas Bank: $975M assets
  • Massachusetts Bank: $14.2B assets
  • Massachusetts Bank: $1.65B assets
  • Maryland Bank: $8B assets
  • Maryland Bank: $8.9B assets
  • Maryland CU: $400M assets
  • Maine Bank: $585M assets
  • Minnesota Bank: $435M assets
  • Missouri Bank: $5B assets
  • Montana Bank: $75M assets
  • New Jersey Bank: $1B assets
  • New Jersey CU: $370M assets
  • New York Bank: $550M assets
  • Ohio Bank: $3.3B assets
  • Pennsylvania Bank: $400M assets
  • Texas Bank: $530M assets
  • Virgin Islands Bank: $250M assets
  • Washington Bank: $1.6B assets
  • Wisconsin Bank: $350M assets
  • West Virginia Bank: $365M assets