Between 8-10% of banks and credit unions annually review whether their core system is robust enough to help them support their customer base and grow their business. A Core Systems Selection, as covered in this session, is the process that the organization goes through to determine if it is time to migrate to a new core platform.
For Financial Institutions (FI’s) that do not have the internal resources to do this themselves, there are a handful of consulting organizations that can outsource the systems selection process. Some FI’s just want to complete their own systems selection, either because they can’t afford an outside consultant, or they just want better control of the process internally.
This session will give financial institutions a peek inside how one systems selection consultant organizes the selection process, from the initial gap analysis through RFP, vendor scoring, and ultimately negotiating a contract.
Whether your FI’s is in the process of changing out your core vendor, or any of your other major IT providers, this session should provide insight into how to organize your process should you opt to “do it yourself”.
- Form a Selection Committee
- Set Target Dates
- Gap Analysis on the Current Products
- Rank your Team’s Selection Criteria
- Decide on Top Vendors that will receive RFP and be invited to Demo
- Develop Request for Proposal
- Vendor Demos
- Financial Modeling of all Proposals
- Negotiation Tactics
- Choose Your Vendor
Who Should Attend?
COO’s, CIO's, CFO’s, and executives engaged in vendor RFP process.
Charlie Kelly is a Partner at Remedy Consulting. Remedy advises Banks and Credit Unions on Systems Selections and Contract Negotiation, Vendor Management, Mergers and Acquisitions and Technology Strategy. Charlie hosts a thought leadership podcast for bank executives called BankTalk.
Prior to Remedy, he served as the Vice President of Product Pricing and Contracts at Fiserv, where he was responsible for negotiating client contracts setting product and pricing strategy. Charlie also has over 10 years of experience managing operational teams in banking and mortgage.
Charlie has a bachelor’s degree in Marketing from the University of Wisconsin, and an MBA from Marquette University. He serves as a regular speaker at bank and credit union industry events and is published in trade publications.
- “Live” Web connection - $265
- 6-month “OnDemand” website link only - $295
- CD-ROM and e-materials only - $345
- Live plus OnDemand website link - $365
- Premier Package: Live, OnDemand link, and CD-ROM plus - $395