IBT Apps Blog

A Community Banker's Guide to Spotting the Holes in a Core Contract

Apr 7, 2021 4:04:23 PM / by IBT Apps posted in vendor management, community banking, core technology, core provider contract

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Having to review a core provider’s contract is like trying to walk through the southern mud. There are pages and pages of messy legalese, and if you don’t have an attorney that is knowledgeable in core technology contracts, you might just sign up for products and services you don’t need or want, and end up paying for more than you bargained for. What community bankers may not realize is that a core provider’s contract shouldn’t be complex or confusing; yet day after day, bankers are left locked into their contracts due to the black holes they couldn’t spot ahead of signing on the dotted line.

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