Negotiating a contract for core processing services is time-consuming and difficult at best. The question we are asked most often: "How do I know my bank is getting the best possible price?"
We will answer that question for you in a single 30-35 minute conference call. We'll discuss your current contracts and costs. We'll tell you what you should be paying.
If you decide you want us to help you negotiate your contract, we will identify an estimated savings target. If we do not achieve that savings, you pay no fee. That's correct: if we miss the target, you have a new contract with substantial savings and pay absolutely nothing for our services.
That is a results-oriented approach. We produce, or we do not get paid.
Financial institutions that engage Shannell to negotiate their core processing contracts range in asset size from $50 million to $1.5 billion.
These institutions believe they possess the ability to negotiate a new contract with a modest discount (7–12%). However, they recognize they do not have the time, the expertise, or the industry knowledge to negotiate a contract that provides a substantial reduction in cost (25–48%).
When asked why they selected Shannell, clients cite one or all of the following: