Bank Relationship Tendering

Bank Relationship Tendering 
For many entities, a tender for operational banking is one of those things “we must get around to one of these days”. Whilst key finance staff are continually busy with day to day issues, the banking continues to function, payments get made and receipts are banked. Yet, prices fall; new methodologies arrive and market changes. 

New benchmarks are created and banks tend not to rush to advise their customers of ways to save money. Finalysis can help by providing the resources and expertise to initiate a tender by managing it through to completion.

Why Tender?:
  • A regular requirement, e.g. public body guideline
  • Banks are suppliers –treat them like any other
  • The market evolves
  • New or improved products
  • More competitive prices
  • The incumbent bank becomes lazy and complacent
  • The process creates pricing issues for the incumbent bank
  • It commoditises what you want from your bank
View our Bank Relationship Tendering Testimonials
 The basic steps are:
  • Preparing the Invitation to Tender
  • Issuing the Invitation to Tender
  • Responding to questions during the preparation period
  • Evaluation of submissions and report produced
  • Creating the short list
  • Clarification meetings and selection of new bank
  • Feedback to bidders provided
  • Reference checks
  • Contract award
  • Tender report for Audit purposes

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