Most financial institutions purchase new core processing platforms and technology solutions every 5 to 7 years. Evaluating and choosing the new solution in a timely manner can be a formidable task. ICI consultants assess new financial technology solutions every day. Selecting the appropriate solution is only part of the challenge. Implementing the solution and maximizing the technology’s effectiveness is perhaps the most important step.
With ICI acting in the role of mentor, advisor and best practice provider, you are ensured that all aspects of the conversion are more than adequately covered. ICI can assist your organization with the Conversion or Implementation process through the following services:
Attend programming definition meetings
Strategic planning: define installation objectives and target dates
Build pert charts with objectives and target dates
Design and develop the detailed conversion project plan
Define a disaster recovery plan
Regular in depth review of project status
Contribute to programming definition approval
Oversee vendor software development and testing
Ongoing oversight of the conversion project
Monitor deliverables: software, hardware, supplies and supplementary equipment
Assist in user documentation approval
Supervise user training
Manage the live installation
Provide post implementation follow up and improvement
ICI's value comes from the ability to offer advice from a broader perspective and an organized process. ICI Consultants have over 300 years of experience in the Bank and Credit Union industries and we will provide knowledge and understanding to the Conversion or Implementation engagement. ICI will deliver a Conversion or Implementation Plan that is all practical, realistic, easily understood by all parties (Client and Vendor) and executable.
Whether or not you have implemented these solutions before, ICI's Conversion or Implementation Services will provide the following deliverables and benefits:
Experience: ICI has managed and coordinated dozens of implementations across America. ICI is familiar with most of the Core Processing and Ancillary System vendor solutions. This experience will assist in streamlining the implementation process.
Custom Conversion or Implementation Plan: From working with hundreds of financial institutions, we realize that all clients have unique requirements that demand a custom strategy resolve to its challenges.
Opportunity Recognition: With our experience, we quickly recognize alternative processing opportunities and develop strategies to obtain available benefits.
Confidence: ICI will assist in taking the fear and guesswork out of implementing new solutions.
Customer / Member Service Focus: ICI will identify areas where integration between systems may be improved in order to maintain that conversion is focused on Customer or Member Service Excellence initiatives. This approach will increase client satisfaction, retention and cross-sales opportunities.
Best Practices: ICI will identify any best practices improvements in the areas of: security, process, project prioritization and collaboration between departments.
Knowing the Alternatives: ICI will identify what hardware, software, network and outsourcing options you will want to implement and why.
Navigate: ICI will assist the client through the complex technology liabilities and warranties.
Dedication: Our project managers have worked with a number of large scale and community bank implementations and will be your dedicated contact throughout the conversion process.
Protection: ICI is skilled in managing a wide variety of projects, therefore ensuring a successful installation of your hardware, software and / or outsourcing solution. In effect, we protect your investment dollars.
Control: The ICI project manager has a prime responsibility of keeping the bank staff, hardware, software and / or outsourcing solution vendors on schedule.
Communication: ICI keeps management informed through frequent conference calls and onsite visits.
Timeliness: Every implementation can have vendor issues, problems and concerns. Our experience helps ensure that those problems and issues are controlled and addressed by the vendor quickly and accurately.
Comprehensive Approach: ICI will complete the conversion in a timely, well organized manner.
Insight: ICI will provide insight into how other banks are utilizing these solutions and services.
Results: ICI manages the entire installation / conversion phase with you.
Short Learning Curve: to understand your operation.
Here are just a few examples of Conversion and Implementation engagements that ICI has delivered:
Indiana Bank ($500 M): Core Processing ROI (In-House vs. Outsourcing) Vendor Evaluation, Contract Negotiation and Conversion
Northwest Bank Holding Company ($3 Billion): Core and Check Processing Conversion, consolidated 5 core and check platforms into 1 operation
Florida Bank Holding Company ($1.2 B): Branch Capture and Check Image Exchange Business Case, Contract Negotiation and Implementation
Mid-Atlantic Bank ($175 M): Core Processing Vendor Evaluation, Contract Negotiation and Conversion from In-House to Outsourcing
Pennsylvania Bank ($2 Billion): Payment Processing Strategic Recommendations, Vendor Evaluation and Implementation
New England Bank ($160 B): Lockbox Business Case (In-House vs. Outsourcing), Vendor Evaluation and Conversion
Southern Bank ($9 Billion): Online Banking Strategic Recommendations, Vendor Evaluation and Implementation
Illinois Bank ($1 B): Core Processing Vendor Evaluation, Contract Negotiation and Conversion
Mid-Atlantic Credit Union ($125 M): Branch Capture and Check Image Exchange Implementation
Southern Bank ($17 B): Remote / Merchant Capture Marketing and Software Implementation Assistance
Maryland Bank ($350 M): Core Processing Vendor Evaluation, Contract Negotiation and Conversion
Southwest Credit Union ($3 B): Branch Capture and Check Image Exchange Implementation
Massachusetts Bank ($1.3 B): Core Processing Vendor Evaluation, Contract Negotiation and Conversion
Southern Bank ($21 B): Check Processing Business Case, Vendor Selection and Online Banking Implementation Assistance
Washington Credit Union ($900 M): Check Image exchange and Remote Capture Business Case, Vendor Selection and Implementation Assistance
Virginia Bank ($1.8 B): Core Processing Vendor Evaluation, Contract Negotiation and Conversion
Mid-Atlantic Data Center: Consolidation of multiple Core Processing and Check Processing Centers to one central location
Southern Corporate Credit Union: Check Processing Conversion