SMARTER VENDOR NEGOTIATIONS FOR A SEAMLESS CORE CONVERSION BY ADVANTAGE For many financial institutions, vendor contracts are a double-edged sword. They ensure access to critical technology and services — but if not carefully structured, they can also lead to unexpected costs, restrictive terms and limited flexibility over time. Whether it’s a core processing agreement, card services or other key vendor relationships, financial institutions often feel locked into terms that don’t serve their best interests. And without a strategic approach, you might be paying more than you need to while missing out on valuable service improvements. ARE YOU LEAVING MONEY ON THE TABLE? Consider this: A financial institution recently negotiated its vendor contract and uncovered significant cost savings — far more than anticipated. They also secured stronger service commitments and reduced unnecessary fees. What changed? The bank took a different approach to negotiations — one that ensured they were fully informed and had the right expertise on their side. THREE QUESTIONS EVERY INSTITUTION SHOULD ASK BEFORE SIGNING A VENDOR CONTRACT If you’re preparing for a contract renewal or vendor evaluation, take a moment to consider: 1. Do you know how your pricing compares to industry benchmarks? 2. Are there hidden fees or unfavorable terms that could cost you more in the long run? 3. Have you explored all possible contract enhancements or cost-saving opportunities? Many financial institutions don’t realize how much leverage they actually have in vendor negotiations — especially when they start the process early and engage expert support. WHAT CAN YOU DO TO STRENGTHEN YOUR NEXT CONTRACT? A real-world example proves that a structured, expert-led approach to vendor contract negotiations can deliver unexpected financial and operational benefits. If you want to see how one bank transformed its contract strategy — achieving savings and improved service — you’ll want to read the case study. Get the full story on how one community bank saved nearly $1 million in contract negotiations by scanning the QR code. https://info.advantage-fi.com/case-studies/ how-fbt-optimized-its-core-vendor-contract If you’re evaluating your core processor or any other vendor agreement, contact the experts at ADVANTAGE by scanning the QR code. They can help you find ways to optimize your contracts, reduce costs and ensure you’re set up for future growth. https://info.advantage-fi.com/en-us/ contact-us-contract-negotiation For over 40 years, ADVANTAGE has been a trusted partner for credit unions, providing expert consultation to help financial institutions navigate an evolving industry. ADVANTAGE is a preferred provider among many industry groups offering strategic solutions, like contract negotiations, to optimize operations and drive long‑term growth. Community Banker 25
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