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Bank Process Efficiency Review

Product / Service Description

The Bank Process Efficiency Review engagement is available for financial institutions of any size which are considering a new banking application solution or are about to reach the end of the current banking application contract.  The Efficiency Review 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 your existing applications fully integrated with each other?
·         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 banking application offerings?
·         Do know what your organization should be paying for application 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

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

 


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