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Technology utilization and vendor management are increasingly challenging for community bank executives. The manner by which banks review, manage and monitor vendor relationships is an area of heightened regulatory scrutiny and should be included in any risk management oversight process.
Our Technology Solutions Division is managed by a team of knowledgeable and experienced professionals with more than three decades of hands-on involvement in bank technology/data processing management and sales. They assist community banks with identifying and controlling technology expenses, increasing vendor performance and ensuring optimal utilization of vendor-provided technologies and services.
Customized Consulting
Austin Associates’ Technology Solutions Division can assist your management team with:
- Evaluating core processing system alternatives;
- Negotiating vendor contracts;
- Comparing advantages and disadvantages of in-house and outsourced core processing systems;
- Preparing cost assessments and estimates of your current data processing relationships and comparing them with alternative service providers;
- Assessing ancillary data systems, such as EFT—including ATM and debit card processing, item processing, internet banking, bill payment, among others—on the basis of costs, effectiveness and compatibility with your core system; and
- Reviewing potential introduction of new technology-oriented products and services, such as mobile banking and remote deposit capture, to validate cost-benefits, vendor alternatives, integration with current data/technology systems and internal support structures requisite for ongoing management and service support
Tangible Benefits
Austin Associates’ Technology Solutions professionals are focused on providing tangible and quantifiable benefits that will enable your bank to maximize the use and value of data processing technologies and your technology-based products and services. Our consulting services will assist management with:
- Quantifying the potential impact of automatically renewable vendor contracts that often include onerous pricing increases and lengthy renewal periods;
- Identifying redundant and unnecessary hidden costs imbedded in vendor contracts;
- Comparing “true costs” of data processing and other third-party services with potential costs of alternative systems and providers;
- Eliminating ambiguity in service obligations and costs; and
- Protecting your bank in the event a vendor underperforms or fails to meet contractual obligations.
When to contact Austin Associates
You should consider contacting our Technology Solutions Division management team if:
- Vendor contracts are approaching renewal dates
- Data processing-related costs are rising
- Your bank has experienced vendor service problems
- New technology-based products or services are being considered
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