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Bank Core Evaluation


Product / Service Description

 

The Bank Core Evaluation engagement is available for financial institutions of any size which are considering a new core processor or are about to reach the end of the current core contract.  The Core Evaluation service provides a full service project for managing the entire evaluation and selection process.

Benefit

·         Banking application and work flow assessment accomplished
·         Request for Proposal (RFP) process created and managed
·         Comparison matrix created
·         Expert Analysis provided
·         Consult 4 IT negotiates with the vendors
·         Due diligence document provided in compliance with FFIEC requirements


Qualifying Questions

·         Are you satisfied with your core?
·
        
Are you including a review of account processing, item processing, and ATM management?
·
        
Can you identify existing inefficiencies with bank processes?
·
        
How many times does a process include an excel spreadsheet?
·
        
Have you determined which business functions need to change within your organization?
·
        
Do you have the manpower to accomplish the RFP process?
·
        
Do you have project managers on staff?
·
        
How current is your organization on the core offerings?
·
        
Do know what your organization should be paying for core services?

Scope of Work

Phase I – Needs Assessment and Work Flow Mapping
Phase II – Request for Proposal (RFP) Creation
Phase III – Review of Proposals
Phase IV – Final Selection of Vendor
Phase V – Contract Negotiations with Vendor
Phase VI – Review of Final Contract

Key Areas for Evaluation

Account Processing                 Internet Banking                     
Item Processing                       Remote Capture                     
ATM Management                   Customer Relationship Management
Profitability                             Loan and Deposit Work Flow



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