System Evaluation and Negotiation

PRI evaluates and negotiates your core, EFT, digital, LOS and other ancillary systems to maximize value.

The PRI Way

Tailored Solutions

Every organization is unique, so PRI’s process is tailored to capture your business needs and strategies. Our team reviews how your current technology will align with and support your future product offering, loan mix, customer service and earnings plan.

Experts with Practical Industry Experience

Our team consists of seasoned banking professionals including former CEOs, CTOs, CIOs and COOs, with an average of 30+ years of real-world experience in all aspects of financial services.

Collaborative Partnership

Our collaborative approach fosters strong relationships as we work with your leadership team to ensure alignment and buy-in at every step. This results in the right solutions to drive your business objectives.

What was missing from your last system selection:

Are you interested in adding or changing solutions such as digital, LOS, teller capture?
Did you allow enough time to fully evaluate the solutions and negotiate the pricing and terms?
Are you getting proper support from your provider?
Are you uncertain about what is being offered in the market?
Did you save as much money as you hoped or were told?

Our Process

Needs Assessment

Starting with your Executive Management and continuing throughout your organization, we meet with your team to understand your unique business strategies and needs. We want to make sure we understand what makes your organization special.
Additionally, our team gathers data including contractual data points, billing data and other key metrics that are meaningful to the engagement.
PRI provides objective, outside perspective based upon our team’s project specific expertise, vendor knowledge and executive-level experience at community institutions.
Combining all the information gathered with PRI’s industry expertise, we develop a plan to evaluate and acquire the right solutions that will drive your organization’s path to success.

Core and Ancillary System Evaluation

Our team of seasoned professionals conduct an analysis of any of the following key systems including but not limited to:
- Core System
- EFT Processor
- Digital Banking
- Loan Origination System (LOS)
- Account Origination
- Item Processing
- PIN Transaction Network
We take an educational approach, ensuring that your team is well-informed throughout the process.

System Selection

PRI facilitates an objective selection process tailored to your organization based on its unique priorities and future goals.
Your financial institution will receive a system comparison outline that considers references, functionality, costs, and service/support.
We will present a recommended final selection for the relevant systems that best suit your needs.

Contract Negotiation

Throughout the evaluation process, PRI will work to make sure that when the right solution for your organization is identified, you won’t be overpaying.
PRI negotiates favorable contractual considerations beyond line item pricing, that will protect you from unexpected charges. Many factors need to be considered throughout the negotiations to increase leverage on your behalf. Our team regularly works through these considerations.
PRI will review and negotiate the contract to ensure optimization of pricing, SLAs, payment schedule, penalties and other terms.

Invoice Review

Review of monthly invoices for the services negotiated for the entirety of the new term(s).
As an added benefit, we will review any other invoices for accuracy and term-based savings opportunities as requested.

Our experience with PRI at Sovereign Bank has been outstanding. As an institution focused on providing high-quality financial services, we needed a partner who could guide us through the complex landscape of core and card network contracts while educating us on the best practices for managing them. PRI delivered on all fronts with exceptional expertise and professionalism.

Alicia Wade, EVP, Chief Operating Officer

Sovereign Bank

PRI began by reviewing our systems and transactions and met onsite with our technology committee. We all felt comfortable that our current system met our needs, so PRI then started negotiating the renewal. PRI and our vendor had a professional, non-confrontational relationship and I believe they respected that PRI’s consultant was a former bank CIO and COO. We were able to further reduce our costs significantly and save more on our annual expenses. We anticipate engaging PRI when we approach our next contract expiration.

Frank Wilson, President & CEO

Wilson & Muir Bank & Trust Co.

Profit Resources delivered outstanding results for us, securing substantial savings during our core software renewal and again with our debit card processing through a national network. Their expertise and negotiation skills provided real financial benefits, and we highly recommend their services to any institution looking to optimize costs and maximize value.

Tom Webb, CEO

First Neighbor Bank, N.A.