As the saying goes... if you're not making mistakes, you're probably not trying hard enough. That philosophy works in most businesses, but can you afford to blow a multi-year, multi-million dollar core, IT or fintech contract negotiation? ...even a little bit? Most bankers can strike a winning loan deal any day of the week because you own that domain, but when it comes to technology contracts, let's face it - you're outgunned.
In this session, you'll learn about the most important negotiating strategies you'll need to follow to be successful presented by Aaron Silva of Paladin fs, one of the nation's top technology contract negotiation experts
Carolinas Credit Union Launch Feb 2023 Paladin 10 Negotiating Commandments Ap...katlynplummer1
As the saying goes... if you're not making mistakes, you're probably not trying hard enough. That philosophy works in most businesses, but can you afford to blow a multi-year, multi-million dollar core, IT or fintech contract negotiation? ...even a little bit? Most bankers can strike a winning loan deal any day of the week because you own that domain, but when it comes to technology contracts, let's face it - you're outgunned.
In this session, you'll learn about the most important negotiating strategies you'll need to follow to be successful presented by Aaron Silva of Paladin fs, one of the nation's top technology contract negotiation experts
Paladin fs - 10 Negotiating Commandments You Should Never BreakKelli Wilkinson
This document summarizes a presentation given by Aaron Silva of Paladin FS on negotiating tactics and commandments that bankers should follow when negotiating with technology vendors. It describes 10 situations that banker Daniel encounters where he breaks various negotiating commandments. In each situation, the commandment broken is identified and Aaron Silva provides a debrief on why the commandment was important and how following it could have led to a better outcome for the bank. The goal of the presentation is to help bankers negotiate more effectively with vendors to get better contract terms and pricing.
ICBA 2019 - Negotiate Core Contracts Like a Boss - redactedMona Ashour
Learn how Massachusetts-based BayCoast Bank ($1.6B) strategically attacked their highest non-payroll expense and most critical legacy fintech relationships-core and IT services-to reduce costs to the tune of $4.5+ million without switching vendors! Learn how this bank intelligently negotiated against its "partners" to reduce spend, restructure its contracts and align their vendors with its strategy-not the other way around. Session ideal for banks $35M - $15B in size.
BHCA Spring Seminar _ Trump 2019 RedactedMona Ashour
This a-political, non-partisan and entertaining presentation will make President Trump the lead negotiator against Core & IT suppliers such as Fiserv, FIS and Jack Henry. Hear from his twitter account along with many of his political rivals and friends as they join together in helping bankers obtain a fair, balanced and reciprocal trade agreement against these vendors.
This document promotes the services of Paladin fs and its CEO Aaron Silva to negotiate IT contracts on behalf of banks and financial institutions. It summarizes how core IT suppliers like Fiserv, FIS, and Jack Henry have grown to oligopolies through mergers and acquisitions, resulting in long implementation times, high costs, and barriers to fintech adoption for clients. Silva claims to have negotiated over $108 million in cost reductions and value for clients, and invites recipients to request a free contract assessment from Paladin fs to potentially lower IT expenses.
Wake Up and Smell the New M&A Imperative_ May 2019 FBA CFO SymposiumMona Ashour
This document discusses how core IT suppliers benefit from mergers and acquisitions between banks due to termination fees, conversion fees, and lost profit clauses in existing contracts. It argues that banks should proactively negotiate their core IT contracts to minimize costs for future M&A activity by reducing fees, aligning terms for a larger combined institution, and limiting supplier benefits from bank consolidation. The presentation provides examples of banks that achieved significant cost savings through negotiations facilitated by Paladin prior to mergers closing. It recommends that banks assess their current contracts and technology to understand risks and opportunities in order to negotiate from a position of strength.
FMS East Coast Conference 2019 trump_RedactedMona Ashour
This a-political, non-partisan and entertaining presentation will make President Trump the lead negotiator against Core & IT suppliers such as Fiserv, FIS and Jack Henry. Hear from his twitter account along with many of his political rivals and friends as they join together in helping bankers obtain a fair, balanced and reciprocal trade agreement against these vendors.
P3 Conference - 10 Things Your Core IT Supplier Will Not Tell YouMona Ashour
10 critical issues and negotiating secrets that bankers should know before they sit down at the negotiating table. Silva will discuss his latest proprietary research findings that outline the problems, pitfalls and best practices in restructuring vendor contracts based on nationwide intelligence. Through real life examples of how banks often pay in excess of $1 million more than necessary over the life of their core services contracts, the audience will learn how to dramatically improve their core and IT spending efficiency and better protect their institutions from downstream risks hidden within their contracts.
Carolinas Credit Union Launch Feb 2023 Paladin 10 Negotiating Commandments Ap...katlynplummer1
As the saying goes... if you're not making mistakes, you're probably not trying hard enough. That philosophy works in most businesses, but can you afford to blow a multi-year, multi-million dollar core, IT or fintech contract negotiation? ...even a little bit? Most bankers can strike a winning loan deal any day of the week because you own that domain, but when it comes to technology contracts, let's face it - you're outgunned.
In this session, you'll learn about the most important negotiating strategies you'll need to follow to be successful presented by Aaron Silva of Paladin fs, one of the nation's top technology contract negotiation experts
Paladin fs - 10 Negotiating Commandments You Should Never BreakKelli Wilkinson
This document summarizes a presentation given by Aaron Silva of Paladin FS on negotiating tactics and commandments that bankers should follow when negotiating with technology vendors. It describes 10 situations that banker Daniel encounters where he breaks various negotiating commandments. In each situation, the commandment broken is identified and Aaron Silva provides a debrief on why the commandment was important and how following it could have led to a better outcome for the bank. The goal of the presentation is to help bankers negotiate more effectively with vendors to get better contract terms and pricing.
ICBA 2019 - Negotiate Core Contracts Like a Boss - redactedMona Ashour
Learn how Massachusetts-based BayCoast Bank ($1.6B) strategically attacked their highest non-payroll expense and most critical legacy fintech relationships-core and IT services-to reduce costs to the tune of $4.5+ million without switching vendors! Learn how this bank intelligently negotiated against its "partners" to reduce spend, restructure its contracts and align their vendors with its strategy-not the other way around. Session ideal for banks $35M - $15B in size.
BHCA Spring Seminar _ Trump 2019 RedactedMona Ashour
This a-political, non-partisan and entertaining presentation will make President Trump the lead negotiator against Core & IT suppliers such as Fiserv, FIS and Jack Henry. Hear from his twitter account along with many of his political rivals and friends as they join together in helping bankers obtain a fair, balanced and reciprocal trade agreement against these vendors.
This document promotes the services of Paladin fs and its CEO Aaron Silva to negotiate IT contracts on behalf of banks and financial institutions. It summarizes how core IT suppliers like Fiserv, FIS, and Jack Henry have grown to oligopolies through mergers and acquisitions, resulting in long implementation times, high costs, and barriers to fintech adoption for clients. Silva claims to have negotiated over $108 million in cost reductions and value for clients, and invites recipients to request a free contract assessment from Paladin fs to potentially lower IT expenses.
Wake Up and Smell the New M&A Imperative_ May 2019 FBA CFO SymposiumMona Ashour
This document discusses how core IT suppliers benefit from mergers and acquisitions between banks due to termination fees, conversion fees, and lost profit clauses in existing contracts. It argues that banks should proactively negotiate their core IT contracts to minimize costs for future M&A activity by reducing fees, aligning terms for a larger combined institution, and limiting supplier benefits from bank consolidation. The presentation provides examples of banks that achieved significant cost savings through negotiations facilitated by Paladin prior to mergers closing. It recommends that banks assess their current contracts and technology to understand risks and opportunities in order to negotiate from a position of strength.
FMS East Coast Conference 2019 trump_RedactedMona Ashour
This a-political, non-partisan and entertaining presentation will make President Trump the lead negotiator against Core & IT suppliers such as Fiserv, FIS and Jack Henry. Hear from his twitter account along with many of his political rivals and friends as they join together in helping bankers obtain a fair, balanced and reciprocal trade agreement against these vendors.
P3 Conference - 10 Things Your Core IT Supplier Will Not Tell YouMona Ashour
10 critical issues and negotiating secrets that bankers should know before they sit down at the negotiating table. Silva will discuss his latest proprietary research findings that outline the problems, pitfalls and best practices in restructuring vendor contracts based on nationwide intelligence. Through real life examples of how banks often pay in excess of $1 million more than necessary over the life of their core services contracts, the audience will learn how to dramatically improve their core and IT spending efficiency and better protect their institutions from downstream risks hidden within their contracts.
VBA 2019 Secrets Revealed: 10 Things Your Core IT Supplier Will NOT Tell You-...Mona Ashour
When it comes to negotiating and renewing these multi-million dollar relationships once every five to seven years, community banks are at a distinct disadvantage negotiating against their Core and IT service providers – bankers have to know what to demand in advance. Suppliers protect these secrets within a team of highly skilled negotiators, contract writers and lawyers who negotiate hundreds of contracts each year with different institutions – never sharing with you what they negotiated differently with any other institution nationwide. To make matters worse these core vendors have formed a market oligopoly, controlling 93 percent of the industry, effectively blocking community institutions from the chance to receive a fair deal through any lack of formidable competition.
FMS East Coast Conference 2019 trump_RedactedMona Ashour
This a-political, non-partisan and entertaining presentation will make President Trump the lead negotiator against Core & IT suppliers such as Fiserv, FIS and Jack Henry. Hear from his twitter account along with many of his political rivals and friends as they join together in helping bankers obtain a fair, balanced and reciprocal trade agreement against these vendors.
Icba 2020 negotiate like a boss - revised 03 02-20 (redacted version)_compr...Mona Ashour
This document provides an overview of strategies for negotiating core IT contracts like a "boss" by taking a long-term approach. It summarizes the experience of BayCoast Bank, which partnered with Paladin over several years to negotiate agreements with multiple core IT suppliers like FIS, Fiserv, and Jack Henry, reducing costs by over $4 million total. By playing the long game and using market data, the bank was able to improve contract terms and gain more favorable pricing and controls over technologies. The document advocates researching agreements well in advance of expiration and negotiating in the optimal "sweet spot" period to maximize leverage.
Webinar presented by TMA SoCal featuring panelists from Business Capital, Midcap Financial and Robins Kaplan with perspectives on borrowing, lending and legal implications during the COVID-19 crisis.
Covid 19 impact on lenders & borrowers webinarChuck Doyle, CTP
Webinar presented by TMA SoCal featuring panelists from Business Capital, Midcap Financial and Robins Kaplan with perspectives on borrowing, lending and legal implications during the COVID-19 crisis.
Webinar presented by TMA SoCal featuring panelists from Business Capital, Midcap Financial and Robins Kaplan with perspectives on borrowing, lending and legal implications during the COVID-19 crisis.
CU Connect: 10 Things Your Core IT Supplier Will Not Tell You - RedactedMona Ashour
When it comes to negotiating and renewing these multi-million dollar relationships once every five to seven years, community banks and credit unions are at a distinct disadvantage negotiating against their Core and IT service providers – bankers have to know what to demand in advance. Suppliers protect these secrets within a team of highly skilled negotiators, contract writers and lawyers who negotiate hundreds of contracts each year with different institutions – never sharing with you what they negotiated differently with any other institution nationwide. To make matters worse these core vendors have formed a market oligopoly, controlling 93 percent of the industry, effectively blocking community institutions from the chance to receive a fair deal through any lack of formidable competition.
The document discusses a case study about Vincent Colmo and Daniel Delconte who partnered to form River Triangle Associates (RTA) to invest in real estate properties. It describes their Steel Street project, a 6-story office building renovation in Pittsburgh that ran into cost overruns and leasing issues. Their options are analyzed, with providing leasing incentives and contributing more equity identified as the best approaches to improve the project returns. Sensitivity analysis is also conducted to understand the impact of variables like vacancy rates, rental rates, costs, and financing changes.
- Banks have become inefficient and unloved by customers, particularly millennials, yet still generate large profits due to the net interest spread between low borrowing costs and high lending rates.
- New financial technology companies are poised to disrupt and replace banks by developing products that are simpler, more transparent, reduce friction, and provide better analytics/customization for customers.
- The author identifies several emerging areas for financial technology innovation that could revolutionize industries like lending, payments, insurance, and investing if concepts like near-zero origination costs, real-time underwriting, distributed ownership models, and eliminating transaction clearinghouses are realized.
The document outlines the minimum requirements for self-employed borrowers seeking financing, including a minimum FICO score of 620 and seasoning requirements for bankruptcies, foreclosures, and short sales/deeds in lieu. It notes that The Federal Savings Bank offers innovative financing solutions designed specifically for self-employed borrowers. Contact information is provided for Douglas Katz to discuss terms and conditions.
This document promotes the services of Paladin fs and its CEO Aaron Silva. It summarizes that Silva is a professional negotiator who has negotiated over $500 billion in IT contracts for over 100 institutions. It claims Silva has achieved $132 million in merger value accretion and $259 million in cost reductions. The document argues that core IT deals are difficult for banks to negotiate due to an oligopoly among major suppliers. It encourages banks to join the Golden Contract Coalition to negotiate better deals with suppliers.
400 k+ Non Recourse 30m Programs (and more..)Vicente Galindo
This document summarizes a funding opportunity for $350k to $30 million in non-recourse funding through a bank guarantee program. It provides details on the program, which includes:
- Depositing $350k for $30 million in funding or $500k for $100 million in funding within 45-90 days
- Protection of deposits through an attorney trust account
- Issuance of a bank guarantee from a top 25 bank and funding from another top 25 bank
- No repayment required as it is non-recourse funding
- Transparency into the process including meetings at the issuing bank
Wake up and smell the new M&A Imperative jan 2019 Bank Director AOBA - redactedMona Ashour
The industry is shrinking by 5-6% annually through M&A. Meanwhile, Core & IT suppliers' revenue and profits grow as their quietly act as silent shareholders in every deal no matter the situation - sell or buy. Institutions can restructure their current contracts to prosper before M&A rather than be punished. Hear real life case studies where bankers wisely took matters into their own hands and gained greatly.
Kreischer Miller Architecture & Engineering Industry SeminarKreischer Miller
This seminar discusses credit and collection controls for professional design firms. It introduces procedures for credit approval, contract compliance reviews, project manager intervention, and accounts receivable write-offs. It also presents a case study where implementing routine collection practices and engaging project managers in the billing process helped reduce a firm's aging receivables and bad debt ratio.
The document provides information about an advanced mortgage training seminar presented by Rob Ross and Jaime Young on November 11th, 2010 from 11:30am to 1:30pm. The seminar outline includes discussions on loan types, property flipping guidelines, FHA loans, 203K renovation loans, VA loans, portfolio loans, appraisal procedures, mortgage insurance, and condos. Contact information is provided for Rob Ross and the CEO of Potomac Mortgage Group, Ed Dean.
This document discusses ways that core IT suppliers take advantage of their oligopoly position and do not have customers' best interests in mind. It notes that contracts are one-sided, pricing is above fair market value, and suppliers limit access to competitive alternatives. Mergers can trigger high termination fees that benefit suppliers. The document advocates getting market intelligence before negotiations and joining a coalition to gain negotiating leverage against suppliers.
Private Hard Money Loans provides swift capital for real estate investors through various loan programs. They lend their own money and have relationships with other lenders to fund deals nationwide. Their programs include loans for new investors, experienced investors, rental property investors, and joint venture partnerships. Borrowers need cash, credit, or experience, and lenders consider these "building blocks" when deciding funding amounts and terms.
This document discusses strategies for modifying commercial real estate loans that are facing difficulties. It provides two case studies as examples. The document outlines who the key players are that work on loan modifications, why lenders engage in modifications, and how the modification process works through setting up evaluations, creating negotiation strategies, and implementing solutions like note restructures, forbearance periods, and debt paydowns. Industrial, office, and retail properties of certain types and loan sizes are identified as good candidates for modifications. The case studies demonstrate solutions like replacing tenants, releasing guarantors, restating loan terms, and purchasing annuity products.
FMS ECR Tonto.AI Negotiating Core & Fintech Contracts with AI v.attendee (red...katlynplummer1
A bank is seeking competitive assessments and pricing proposals from Fiserv for core processing and online banking services over the next 5 years, assuming account growth of 5-7% annually. The AI is asked to provide:
1) A competitive analysis comparing Fiserv Premier and DNA solutions for the bank based on similar sized institutions.
2) A 5-year processing expense budget projecting costs with the anticipated account growth.
3) A draft Fiserv master agreement incorporating previously accepted terms and best pricing.
Fintech Disruption of Core IT Obstruction FBA May 2023 Redacted Attendee.pdfkatlynplummer1
Mr. Silva is a recognized and respected "tell it like it is" industry thought leader and negotiations expert that will deliver entertaining, engaging and unique presentations to your audience.
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VBA 2019 Secrets Revealed: 10 Things Your Core IT Supplier Will NOT Tell You-...Mona Ashour
When it comes to negotiating and renewing these multi-million dollar relationships once every five to seven years, community banks are at a distinct disadvantage negotiating against their Core and IT service providers – bankers have to know what to demand in advance. Suppliers protect these secrets within a team of highly skilled negotiators, contract writers and lawyers who negotiate hundreds of contracts each year with different institutions – never sharing with you what they negotiated differently with any other institution nationwide. To make matters worse these core vendors have formed a market oligopoly, controlling 93 percent of the industry, effectively blocking community institutions from the chance to receive a fair deal through any lack of formidable competition.
FMS East Coast Conference 2019 trump_RedactedMona Ashour
This a-political, non-partisan and entertaining presentation will make President Trump the lead negotiator against Core & IT suppliers such as Fiserv, FIS and Jack Henry. Hear from his twitter account along with many of his political rivals and friends as they join together in helping bankers obtain a fair, balanced and reciprocal trade agreement against these vendors.
Icba 2020 negotiate like a boss - revised 03 02-20 (redacted version)_compr...Mona Ashour
This document provides an overview of strategies for negotiating core IT contracts like a "boss" by taking a long-term approach. It summarizes the experience of BayCoast Bank, which partnered with Paladin over several years to negotiate agreements with multiple core IT suppliers like FIS, Fiserv, and Jack Henry, reducing costs by over $4 million total. By playing the long game and using market data, the bank was able to improve contract terms and gain more favorable pricing and controls over technologies. The document advocates researching agreements well in advance of expiration and negotiating in the optimal "sweet spot" period to maximize leverage.
Webinar presented by TMA SoCal featuring panelists from Business Capital, Midcap Financial and Robins Kaplan with perspectives on borrowing, lending and legal implications during the COVID-19 crisis.
Covid 19 impact on lenders & borrowers webinarChuck Doyle, CTP
Webinar presented by TMA SoCal featuring panelists from Business Capital, Midcap Financial and Robins Kaplan with perspectives on borrowing, lending and legal implications during the COVID-19 crisis.
Webinar presented by TMA SoCal featuring panelists from Business Capital, Midcap Financial and Robins Kaplan with perspectives on borrowing, lending and legal implications during the COVID-19 crisis.
CU Connect: 10 Things Your Core IT Supplier Will Not Tell You - RedactedMona Ashour
When it comes to negotiating and renewing these multi-million dollar relationships once every five to seven years, community banks and credit unions are at a distinct disadvantage negotiating against their Core and IT service providers – bankers have to know what to demand in advance. Suppliers protect these secrets within a team of highly skilled negotiators, contract writers and lawyers who negotiate hundreds of contracts each year with different institutions – never sharing with you what they negotiated differently with any other institution nationwide. To make matters worse these core vendors have formed a market oligopoly, controlling 93 percent of the industry, effectively blocking community institutions from the chance to receive a fair deal through any lack of formidable competition.
The document discusses a case study about Vincent Colmo and Daniel Delconte who partnered to form River Triangle Associates (RTA) to invest in real estate properties. It describes their Steel Street project, a 6-story office building renovation in Pittsburgh that ran into cost overruns and leasing issues. Their options are analyzed, with providing leasing incentives and contributing more equity identified as the best approaches to improve the project returns. Sensitivity analysis is also conducted to understand the impact of variables like vacancy rates, rental rates, costs, and financing changes.
- Banks have become inefficient and unloved by customers, particularly millennials, yet still generate large profits due to the net interest spread between low borrowing costs and high lending rates.
- New financial technology companies are poised to disrupt and replace banks by developing products that are simpler, more transparent, reduce friction, and provide better analytics/customization for customers.
- The author identifies several emerging areas for financial technology innovation that could revolutionize industries like lending, payments, insurance, and investing if concepts like near-zero origination costs, real-time underwriting, distributed ownership models, and eliminating transaction clearinghouses are realized.
The document outlines the minimum requirements for self-employed borrowers seeking financing, including a minimum FICO score of 620 and seasoning requirements for bankruptcies, foreclosures, and short sales/deeds in lieu. It notes that The Federal Savings Bank offers innovative financing solutions designed specifically for self-employed borrowers. Contact information is provided for Douglas Katz to discuss terms and conditions.
This document promotes the services of Paladin fs and its CEO Aaron Silva. It summarizes that Silva is a professional negotiator who has negotiated over $500 billion in IT contracts for over 100 institutions. It claims Silva has achieved $132 million in merger value accretion and $259 million in cost reductions. The document argues that core IT deals are difficult for banks to negotiate due to an oligopoly among major suppliers. It encourages banks to join the Golden Contract Coalition to negotiate better deals with suppliers.
400 k+ Non Recourse 30m Programs (and more..)Vicente Galindo
This document summarizes a funding opportunity for $350k to $30 million in non-recourse funding through a bank guarantee program. It provides details on the program, which includes:
- Depositing $350k for $30 million in funding or $500k for $100 million in funding within 45-90 days
- Protection of deposits through an attorney trust account
- Issuance of a bank guarantee from a top 25 bank and funding from another top 25 bank
- No repayment required as it is non-recourse funding
- Transparency into the process including meetings at the issuing bank
Wake up and smell the new M&A Imperative jan 2019 Bank Director AOBA - redactedMona Ashour
The industry is shrinking by 5-6% annually through M&A. Meanwhile, Core & IT suppliers' revenue and profits grow as their quietly act as silent shareholders in every deal no matter the situation - sell or buy. Institutions can restructure their current contracts to prosper before M&A rather than be punished. Hear real life case studies where bankers wisely took matters into their own hands and gained greatly.
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This seminar discusses credit and collection controls for professional design firms. It introduces procedures for credit approval, contract compliance reviews, project manager intervention, and accounts receivable write-offs. It also presents a case study where implementing routine collection practices and engaging project managers in the billing process helped reduce a firm's aging receivables and bad debt ratio.
The document provides information about an advanced mortgage training seminar presented by Rob Ross and Jaime Young on November 11th, 2010 from 11:30am to 1:30pm. The seminar outline includes discussions on loan types, property flipping guidelines, FHA loans, 203K renovation loans, VA loans, portfolio loans, appraisal procedures, mortgage insurance, and condos. Contact information is provided for Rob Ross and the CEO of Potomac Mortgage Group, Ed Dean.
This document discusses ways that core IT suppliers take advantage of their oligopoly position and do not have customers' best interests in mind. It notes that contracts are one-sided, pricing is above fair market value, and suppliers limit access to competitive alternatives. Mergers can trigger high termination fees that benefit suppliers. The document advocates getting market intelligence before negotiations and joining a coalition to gain negotiating leverage against suppliers.
Private Hard Money Loans provides swift capital for real estate investors through various loan programs. They lend their own money and have relationships with other lenders to fund deals nationwide. Their programs include loans for new investors, experienced investors, rental property investors, and joint venture partnerships. Borrowers need cash, credit, or experience, and lenders consider these "building blocks" when deciding funding amounts and terms.
This document discusses strategies for modifying commercial real estate loans that are facing difficulties. It provides two case studies as examples. The document outlines who the key players are that work on loan modifications, why lenders engage in modifications, and how the modification process works through setting up evaluations, creating negotiation strategies, and implementing solutions like note restructures, forbearance periods, and debt paydowns. Industrial, office, and retail properties of certain types and loan sizes are identified as good candidates for modifications. The case studies demonstrate solutions like replacing tenants, releasing guarantors, restating loan terms, and purchasing annuity products.
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FMS ECR Tonto.AI Negotiating Core & Fintech Contracts with AI v.attendee (red...katlynplummer1
A bank is seeking competitive assessments and pricing proposals from Fiserv for core processing and online banking services over the next 5 years, assuming account growth of 5-7% annually. The AI is asked to provide:
1) A competitive analysis comparing Fiserv Premier and DNA solutions for the bank based on similar sized institutions.
2) A 5-year processing expense budget projecting costs with the anticipated account growth.
3) A draft Fiserv master agreement incorporating previously accepted terms and best pricing.
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Fintech Disruption of Core IT Obstruction FBA May 2023 Full Attendee.pdfkatlynplummer1
This document discusses the disruption of legacy core banking systems by fintech solutions. It notes that smaller banks are under pressure from larger banks and fintechs. While legacy core vendors like Fiserv and FIS focus on modernization, their products and contracts create barriers that prevent banks from accessing competitive fintech solutions and adopting new technologies. The document argues that fintechs are filling an "innovation chasm" and that banks need to develop fintech adoption plans to cross this chasm, including restructuring legacy contracts, building API bridges to access data, and educating executives. However, it finds that no "fintech core messiah" currently exists in the market that can fully replace legacy systems.
Fintech Disruption of Core IT Obstruction April 2023 FMS NY_NJ Redacted Atten...katlynplummer1
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In this session, Silva will take you through a history of how we [the industry] got into this mess with Core IT suppliers along with his plans - and those of his many community bank and industry partner followers - intended to disrupt the oligopoly of “the Big Three” and change the game once and for all by putting more power back into the hands of community financial institutions. Every banker in the country is affected by critical, complex and expensive relationships with Core IT suppliers. Anticipated competitive offerings promised by new fintech companies are threatened by the barriers and poison pills embedded in nearly every agreement held by a bank - assuring Core IT suppliers hold all the keys.
Fintech Disruption of Core IT Obstruction Sept 2022 Final FMS Attendee Redact...katlynplummer1
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Lunch with Lions Illinois Bankers July 2022 attendee full version (final) .pdfkatlynplummer1
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Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
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2. 2
BANKER DANIEL
EXECUTIVEVICE PRESIDENT & CHIEF FINANCIAL OFFICER
IN VENDORS WE TRUST
FEDERAL CREDIT UNION
25-year career in
banking and finance
Smart, sophisticated,
confident in his
negotiating skills but
can be easily humbled
Oversees technology
vendor management,
procurement and
spend analysis
Saving
Banker Daniel
Star of Short Film
Director’s Cut
Behind the Scenes
3. 3
AARON SILVA
CEO OF PALADIN FS & THE GOLDEN CONTRACT
COALITION PROFESSIONAL NEGOTIATOR
Industry PREACHER for the
health and success of CFIs
Created Paladin Blue Book
2007-2009
Advise Wall Street on
fintech & legacy core
Membership launch June 2016
Group “Offensive” Negotiations vs.
Legacy & Fintech Suppliers
200+ Institution Member
Target $1B in Total Contract Value
Largest global IT contract negotiations
Legal firm
15 Years Paladin
10 Years OASYS
4. 4
THE PALADIN BLUE BOOK™
BETWEEN 2007 AND 2022
$518,818,094
RETURNED TO BANKERS
$1.57M
15 YEAR AVERAGE PER DEAL
5. 5
SAVING BANKER DANIEL
Introduce
Actual Situation
Reveal Negotiating
Commandment Broken
Situation Debrief
and Analysis
1 2 3
Audience Guessing, Questions & Answers Highly Encouraged
6. 6
SITUATION 1 OF 10
CORE CONTRACT RENEWAL REQUEST
18 months before expiration.
Banker Daniel opens an
informal negotiation with Fiserv.
Requests for a renewal quote.
Banker Daniel informs Fiserv
that FIS has also been asked
for a competitive bid.
Daniel secretly provides FIS
with a Fiserv invoice.
($$ blacked out of course)
Daniel suggests he will also
send an RFP to each vendor as
part of bank decision process.
7. Thou Shalt Not Show
Your Cards Too Quickly
COMMANDMENT BROKEN:
8. 8
DEBRIEF:
THOU SHALT NOT SHOW YOUR CARDS TOO QUICKLY
Fiserv and FIS see efficiency ratio is 75% and climbing.
Profits are flat = unlikely bank can afford a major
vendor change disruption.
No actual demos are scheduled or requested.
Vendors will know that Daniel is not serious to switch.
This is a simple shakedown of Fiserv.
55%
60%
65%
70%
75%
80%
Efficiency Ratio
Profits
9. 9
SITUATION 2 OF 10
SEARCHING FOR A NEW INTERNET BANKING PROVIDER
9 months left on current 5-year Internet Banking contract.
Application is obsolete, not innovative.
Begins demo process of fintech internet
banking and mobile solutions
Banker Daniel sends a NOTICE OF NON-AUTORENEWAL
to avoid 5-year extension trigger at 180 days.
11. 11
DEBRIEF:
THOU SHALT COMMAND THE SANDS OF TIME
Non-auto renewal should have been eliminated 4 years ago.
API negotiations / programming can take many months
Conversion dates for most vendors can be 6-18 months away
9 months is NOT enough time to evaluate a new supplier and negotiate
new contract.
11
12. 12
Start a negotiation with
24-30 months remaining
Complete discussions with
18-24 months remaining
“sweet spot”
Never start with less than
18 months ”Red Zone”
Sweet Spot
Most
Good
Least
Early Bird Sweet Spot Red Zone
Months Remaining on Contract
Cost
Reduction
Opportunity
24
Months
18
Months
Sign in the
“Sweet Spot”
Switching leverage
erodes quickly in RED ZONE
Begin Research
24-30 Months
Get Started
Get it Done
Get Moving!
Call to Action
PALADIN BLUE BOOK PRO TIP
13. 13
SITUATION 3 OF 10
NEW FINTECH RELATIONSHIP
Banker Daniel decides to implement an
online account opening service
from a VC-backed fintech company.
Jack Henry 20/20
48 months remaining
on a 6-year deal.
Daniel sends the fintech master agreement
draft and price sheet to their general counsel
at Shapiro & Shaprio to negotiate.
15. 15
DEBRIEF:
NEVER LAY WITH A LAWYER
15
Little market intelligence on competitive SLAs.
Lawyers have no market data or pricing.
Few have seen or written fintech agreements (they’re new).
MIA: Where is the API contract and enhanced SLA with Jack Henry?
MIA: You’ll need a separate SOW for the OAO implementation.
Lawyers are paid for process – not motivated by outcomes.
16. 16
PALADIN BLUE BOOK PRO TIP
Lawyers are excellent for
reviewing a final draft of
an agreement.
Limit their interaction
with vendor unless there
is a real legal issue
to be discussed.
Don’t lose control.
Vendor RMs can be
forced to escalate when
lawyers are involved.
17. 17
SITUATION 4 OF 10
UNSOLICITED EARLY RENEWAL
Jack Henry sends early renewal proposal to Banker Daniel.
$10,000 per month discount on a 48-month extension.
IF he signs by EOM (-$480,000).
Daniel smartly doubles the discount to $20,000 and counters.
Jack Henry agrees to $12,500 monthly flat discount in exchange for a
60-month extension.
Banker Daniel approves the compromise. Signs renewal.
19. 19
DEBRIEF:
NEVER NEGOTIATE AGAINST ONESELF
Responding with a price counter signals that
Daniel doesn't care as much about contract terms.
He’s an economic buyer only.
Credit Union was $32,000 over FMV on Day 1.
$1.17M left on table!
Agreeing to a monthly fixed discount is big mistake.
Demanding 2x the offered discount told Jack Henry that
Daniel is guessing. Likely negotiating blind.
19
20. 20
SITUATION 5 OF 10
BANK NEEDS A CUSTOM API
Banker Daniel needs an API
for his new fintech LOS
Needs access bank-owned
data on Fiserv Portico.
Fiserv quotes $480,000 for
the API + programming
+ plus $.003 per API ‘call’
made by the LOS application.
Daniel chokes. Fiserv agrees to program API
for $250,000 because they
can re-sell it to other banks.
Daniel agrees.
21. Thou Shalt Not Guess
On Contract Terms
COMMANDMENT BROKEN:
22. 22
DEBRIEF:
THOU SHALT NOT GUESS ON CONTRACT TERMS
22
Credit Union mistakenly gave
away software license
royalty opportunity.
Daniel agreed to pay $.003 for
each ‘API call’ but has no idea
how much that will cost short or
long term. Major obligation risk!
Paid Fiserv $250,000 for
development of a new API
that Fiserv will exclusively profit
from in future.
23. 23
COMMANDMENTS THAT BANKER DANIEL KNOWS
Ye Shall Not Negotiate
Without a Plan
Never go in unprepared, unarmed.
Contracts should follow YOUR innovation plans, not
the vendors’. Control the negotiation tempo from the
beginning and through to the end.
Remember
Thy Stakeholders &
Members
Always negotiate cynically.
Even if the services are GREAT…Vendors want to
sell you the worst possible deal at the highest
possible price. They want to take money off of your
bottom line and put it in their pocket.
24. 24
SITUATION 8 OF 10
MERGER OF EQUALS
Two $8B credit unions merge while using the same core vendor, different platform
Acquired CU receive a $16,000,000
contract termination demand from
vendor.
Surviving CU estimates
de-conversion, conversion and
integration expense to exceed $4.8
million over 2 years post merger.
25. Thou Shalt Not Allow a Vendor to
Become a Silent Shareholder
COMMANDMENT BROKEN:
26. 26
DEBRIEF:
THOU SHALT NOT ALLOW A VENDOR TO BECOME
A SILENT SHAREHOLDER
Entire vendor relationship was restructured under a new master agreement.
$38M spend reduction over next 5 years!
Nearly all predatory termination, de-conversion, integration expense
was mitigated.
26
27. 27
PALADIN BLUE BOOK PRO TIP
COST OF SERVICE
WHEN CUs MERGE
PROFIT GROWTH
GAIN SHARING
A vendor’s cost of service lowers when
two of their clients merge into one.
There is little relationship to
the amount of your assets and their cost
of service.
When your CU buys another CU or bank
processed by a competitor, gain sharing is
possible.
All M&A scenarios should be pre-stipulated in
contract now.
28. 28
SITUATION 9 OF 10
CORE CONVERSION
Banker Daniel contacts Jack Henry and threatens to convert to Fiserv
unless they ‘sharpen their pencil’ at the upcoming renewal proposal.
$2.8B Bank has all services with JHA since 2002.
Spends $186,000 - $214,000 per month.
15 weeks later JHA offers virtually NO economic or contract
concessions in proposal.
29. The Prospect of a Hanging Doesn’t
Always Sober the Mind
COMMANDMENT BROKEN:
30. 30
DEBRIEF:
THE PROSPECT OF A HANGING DOESN’T ALWAYS SOBER THE MIND
Jack Henry predicts a bluff.
Disruption to staff (conversion, retraining) too great for a $2.8 Billion CU.
Systems too entrenched after 19 years.
Only 2% of CUs volunteer to switch core suppliers in any given year.
30
31. 31
SITUATION #10
MERCHANT CARD SERVICES
31
Referral portfolio of 1,600
merchant accounts
Revenue share 25% with
processor (FirstData)
DDA Penetration > 6% of all
business customers
Monthly attrition 2%. - 3%.
(industry average = 1%)
$25 per new merchant
account opening bonus
33. 33
DEBRIEF
THOU SHALL FOLLOW THE PALADIN BLUE BOOK
Increased DDA penetration to 20% (and climbing +5%)
Restructured revenue share agreement – revenue increased $1.2M per year
Attrition reduced to sub 1%
Converted merchant services portfolio into $2.5M asset.
Repaired all contract defects.
34. 34
PALADIN BLUE
BOOK PRO TIP
Merchant services probably least
understood product offering sold by CUs.
Proactively prepare payment processing
agreements for fintech evolution.
Everything is moving to payments
”It is where the action is!”
35. 35
WHICH COMMANDMENTS ARE YOU BREAKING?
Access to Director’s Cut
SAVING BANKER DANIEL
Download the Presentation
Which Commandments AreYou Breaking?
FREE Contract and Pricing Assessment vs.
Paladin Blue Book