Technology Acquisition and Implementation
Financial institutions rely heavily on outside technology providers to supply a wide range of products and services to support the IT function on both an in-house and outsourced basis. A disciplined approach is required to ensure the highest return on this long-term investment. Our proven methodology, utilized at hundreds of financial institutions over the past 20 years, combined with our experience, tools and knowledge of the vendor landscape, will allow you make well informed, fully supportable decisions as required by your board, regulators and shareholders.
- Experienced consultants
- Ensure you’re making the most of your technology
- Reduce expenses and maximize the return on your technology investments
Our experience includes core processing systems, as well as ancillary systems. Our methodology covers a wide range of technology solutions across all major functions of the institution including:
- Core processing products and services
- Alternative channel platforms including electronic and mobile banking
- Customer relationship management solutions
- Information security and compliance solutions
- Remote deposit capture solutions
- Lending and profitability solutions
SCS will produce a Final Report, backed by our reputation and track record, which will document the thorough process of the selection. The report fully supports the decisions that were made in order to satisfy the due diligence requirements imposed by regulators as part of the Vendor Management and Oversight guidelines. Upon the selection of the vendor, we can also assist in the contract negotiation at the customer’s direction.
Contract Renewal Advisory Services
Given the high cost of switching vendors and platforms related to major technologies and the fear of the unknown, most institutions choose to renegotiate and renew their existing agreements with their technology service providers. However, without the threat of competition, many institutions believe they lack leverage in their vendor negotiations and often times accept pricing, terms, conditions and service level agreements that are less than optimal. Given our experience with hundreds of vendor contracts and our proprietary database of industry benchmarks, SCS can help level the playing field and arm you with the information you need to ask for and negotiate favorable pricing, terms, and conditions.
Implementation & Conversion Management
Working as an independent resource on behalf of your institution, SCS can provide a quality control role in order to make sure that the products and services are implemented according to the terms of the contract and in alignment with the institution’s objectives and goals. Our implementation and conversion management services can include project planning, management and budgeting, scope management and project quality control.