Client Challenges
Whether you pursue a “Best of Breed” or “Best of Suite” strategy for ancillary applications, financial institutions often need assistance in reviewing these offerings, measuring the level of integration to the core platform, and analyzing the cost to purchase and maintain these systems and services.
These applications, like core processing, can represent a significant expense to the financial institution. Therefore, it is imperative that these applications be addressed in conjunction with a core processing decision. ICI consultants work with clients to ensure the proper coordination and timing of contracts for these services, which in turn assists the financial institution with better vendor-management practices. In addition, ICI provides actionable recommendations for additional terms and conditions in contracts that provide reasonable accountability for service quality by the vendors.
Solutions / Benefits
Whether these important ancillary applications are delivered by your core processor or a third-party company, these solutions must integrate seamlessly with the core platform as they support key offerings of your financial institution. ICI consultants have evaluated, cost justified, negotiated and implemented the following ancillary applications to help banking executives make profitable, long-term decisions that provide value for both the end customer and the organization:
- Online Banking
- Mobile Banking
- EFT Processing
- Loan Origination and Servicing
- Bill Pay
- CRM
- Debit and Credit Card Processing
- Cyber Security
- Check Imaging: Archive, Exchange and Remote Capture
- Document Imaging
- Lockbox and Remittance Processing
- Retail Delivery: ATM, Teller and Platform
- Treasury and Cash Management Services
- Trust and Asset Management
- Wire Transfer
Our Experience
“We hired ICI to review our online banking and mobile banking contracts and pricing. ICI consultants carefully analyzed our existing pricing and product set, compared it to a new proposal from our current vendor, and provided useful feedback and industry perspective on competing solutions.In addition, ICI offered solid recommendations on structuring a new agreement with the software vendor.”
SVP | Deposit Operations Northern Bank