ABA Banking Journal - April 2013 - (Page 14)

ABA community banking Tech MANAGeMeNT Negotiating better tech contracts A systematic, savvy approach protects bank interests T BY MICHAEL A. SCOTT, AUSTIN ASSOCIATES 14 | ABA BANKING JOURNAL | April 2013 perspectives, and tactics that a vendor is likely to employ. Getting inside the vendor’s head Most vendors know better than bank personnel what the bank’s contract terms, conditions, and expiration dates are. They simply do this more than bankers do. It is not unusual for some vendors to step up service levels, correct persistent problems, and provide “discounted terms” to preempt the client from entering into a contract negotiation process. In instances where service levels have been acceptable, and the bank and pHOTO: BpTU/ SHUTTErSTOCk.COM he rapid evolution of community bank core processing systems and auxiliary products—think mobile banking—is requiring extensive planning by management teams preparing to negotiate contracts with providers of the next generation of technology-based services. Core systems profoundly impact all bank operations and customer service functions. Moreover, data processing and EFT costs, next to personnel, are often the highestexpense items for community banks. Prior to entering into a negotiation process, it may be advantageous to understand the strategies, http://www.SHUTTERSTOCK.COM

Table of Contents for the Digital Edition of ABA Banking Journal - April 2013

ABA Banking Journal - April 2013
Contents
Chairman’s View
Editor’s Column
The Economy
Bank Notes
Picture This
ABA COMMUNITY BANKING Negotiating better contracts
Pass the Aspirin
Tech Topics
COVER STORY: Focus on risk Regulators raise the bar—big time!
RAROC architect’s views on risk
Top-performing big banks
Compliance Inbox
ABA At Your Service
Legal Issues
First Person

ABA Banking Journal - April 2013

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