No bank wishes to needlessly increase expenses, however, when it comes to contract negotiations the services of a qualified attorney is a justifiable expense. It is an absolute must and it will be well worth the money spent. Today’s technology service agreements have become significantly complex, overly complex. Every year contract complexity seems to increase. While the agreement defines the services being offered, a substantial portion of each agreement is devoted to marginalizing vendor risk in the event your bank does not complete the contract’s term, if the vendor does not perform, or if new regulations are passed…and so on and so on.
Posted July 31, 2017 in From the Experts.
Bank Director.com recently published an article by Jack Milligan, Editor-in-Chief for Bank Director Magazine,”When It Comes to Core Conversions, Look Before You Leap” (Link Below) which features helpful information for financial institutions faced with choosing a core provider from Steve Heckard, Senior Consultant, Technology Solutions, ProBank Austin.Read Full Post