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Client Alert: Preparing to Negotiate Core Processing Agreements

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Outsourced core processing agreements often represent the most significant contractual relationships for regional and community banks. As banks increasingly rely on dynamic and complex suites of third-party technology services, examiners at the state and federal levels have continued to focus on effective vendor management and oversight, including when it comes to negotiating adequate protections and fair terms in core processing contracts.

Critical Contractual Issues

The following issues deserve particular attention in core processing agreements:

Initial Questions

Some banks dedicate considerable resources to the negotiation of their core processing agreements. These resources may include the engagement of third-party consultants and outside legal counsel. When considering whether to bring in outside advisors, an institution approaching a renewal or significant change in its core processing services should consider the following questions:

We Can Help You

Our Firm frequently represents our banking clients in the review and negotiation of core processing and other high-stakes technology services agreements. Please contact us if you would like to discuss any of the considerations raised above or if we can otherwise assist you.

Katherine Fritzi Getz is a partner in the banking group who advises financial institutions on corporate, regulatory and securities law matters. Fritzi regularly represents clients in connection with the review and negotiation of business contracts, including a wide range of vendor agreements and Fintech arrangements and partnerships.

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