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:
  • over $1B
  • Massachusetts Bank
  • Indiana CU
  • Maryland Bank
  • New Jersey Bank
  • $1B-350m
  • Alabama Bank
  • Kansas Bank
  • Florida Bank
  • Maine Bank
  • Minnesota Bank
  • less than $350m
  • California Bank
  • Colorado Bank
  • Wisconsin Bank