Core Vendor Evaluation

On average, ICI Consulting assists in the Core Vendor Evaluations and the purchase of contracts worth more than $200 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 Consulting 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 Vendor Evaluation 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 Nova 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 eExchange 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