Whether you’re exploring a new core solution or are narrowing down your selection for a new core provider, there are critical conversations that need to happen with a potential vendor prior to moving forward. Asking the right questions upfront will help you understand the ins and outs of the new partnership and fill in any gaps in communication before finalizing the contract. More importantly, having these much-needed conversations will protect your bank in the long-term.
Shopping for a new core involves so many details. The cost, the timeline, and even the vendor’s reputation can influence your purchasing decision, but there’s more to it. In fact, there are a few different layers to peel through to make sure you find the right core partner that fits your business’ needs.
That’s why we created a great guide for community bankers with discussion points to lead conversations with new core vendors during the due diligence process. We won’t cover the entire list in this post, but will touch on one of the most critical items: meeting the entire vendor’s team prior to signing any contracts.