Core Financial Technology
Many financial institutions go years, even decades, before considering new core technology. During that time, business strategies, providers, technology, and regulatory requirements change significantly, leaving bankers struggling to catch up. The technology needs of financial institutions will never be simpler than they are now. They will only get more complex, as the demands of the evolving banking environment continue to require delivery of technology-driven services.
Finding the Right Fit
For financial institutions, being prepared to meet the future begins with aligning with the proper core services vendor.
Bringing decades of experience to the table, Artisan’s industry experts are deeply steeped in the complexities of the core vendor services industry. They can support your financial institution through any transition, from renewing existing agreements to implementing vendor evaluation and replacement, ensuring that you will partner with the vendor best able to meet your needs.
Core Vendor Evaluation – Artisan implements a rigorous process built on a formal, customized request for proposal (RFP), for financial institutions considering a change with any technology platform including:
- Core processing
- Digital banking
- Loan Origination Platform
- Managed Services
Artisan submits the RFP to qualified vendors for analysis by the bank, as well as Artisan experts. We perform significant due diligence in reviewing existing contracts, invoices, bank strategies and objectives, and how the bank utilizes the services being received. Artisan manages the entire process, provides financial analysis of proposals, and negotiates contract terms. For smaller institutions, Artisan provides project management, industry knowledge and overall assistance with a competitive vendor review in its vRFP performed virtually to minimize engagement fees.
Managed Contract Renewal – Artisan assists banks renewing their existing agreements by focusing on contractual issues, future needs, and service performance. Designed for banks that have no intention of leaving their existing vendor but need assistance in their renewal negotiation.
Contract Business Issues Review – Current technology agreements have become increasingly complex, and few banks understand their rights and obligations. Artisan will provide a report of business issues after review of the current processing agreements and provide a best practices discussion based on its findings and provide strategic guidance.
Transitioning to Outsourced Processing – The Artisan team has extensive experience working with banks that conduct their processing in-house and are exploring outsourced processing. Many clients don’t know what to expect in an outsourced environment and Artisan guides through the process, including comprehensive cost analysis.
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Expert Consultative Services For Bankers By Bankers