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Description
Core Processing remains the largest technology expenditure within most banks and credit unions today but core also represents a key cost savings area. The webcast will identify strategies that your financial institution can implement to cost effectively evaluate and differentiate Core Processing vendors.
Greg Schratwieser, Founder and CEO of ICI Consulting, will introduce ideas to help you think strategically about one of the most significant investment areas within your business. When financial institutions set out to evaluate core processing solutions, they often focus on new products and functionality to improve customer service and cost savings to enhance profitability and compliance. The speaker will identify strategies for banks and credit unions that can be deployed to reduce the cost of back office operations.Webcast Attendees will learn:
- What leverage does a financial institution have when negotiating a core processing agreement?
- The current invoice: what are you using, what are you paying for and does it add value?
- What roles do core contract additional terms, Service Level Agreements (SLAs) and financial penalties play in achieving cost savings?
- What are the “Tricks of the Core Processing Sales Trade”?
- Where should a financial institution look first for cost savings in core processing operations?
- Are your vendor service charges reasonable or excessive?
- How do core vendors price their solutions: asset size, number of transactions or how well you negotiate the contract?
- How and where do ancillary systems enter the financial analysis?
- Analyzing vendor price proposals: how to get to an “apples to apples” cost comparison?
Audience
This session is appropriate for Bank and Credit Union Executives who are responsible for Core Processing, Ancillary Systems, Back Office Management and Strategy groups.
Greg Schratwieser founded ICI (International Consulting, Inc.) in 1994. ICI is a consulting firm that focuses on the Financial Industry. Greg offers ICI clients unique expertise based on his extensive work in the areas of Core Processing, Check Processing and Online Banking deployment. Greg Schratwieser has consulted with financial institutions and corporations throughout North America, Australia, Europe and Asia. He has given hundreds of speeches within these geographic markets and written dozens of industry articles. Before founding ICI Consulting, Greg Schratwieser was employed by Unisys and Prismac Systems Australia.
