Banking Services - ACH, Check and Virtual Card

The University of North Carolina at Greensboro (UNCG) is seeking proposals from qualified financial institutions to provide banking services related to outsourced check printing, ACH payments, and virtual credit card payments. The selected financial institution will be responsible for outsourced payment processing, application portal and integrations, supplier onboarding, compliance, and ongoing support. The contract term is for three years with the option to renew for two additional one-year terms. Some key requirements include: • The firm must be a registered financial institution with regulatory oversight from the Federal Reserve, FDIC, OCC, or a comparable national regulatory body. • The firm must have a demonstrated ability to handle high-volume, complex payment processing securely and efficiently. • The firm must comply with all federal, state, and institutional financial regulations. • The firm must provide evidence of financial stability, including recent audited financial statements and creditworthiness ratings. • The service offering should include outsourced supplier payment methods such as paper checks, ACH, and virtual credit card payments. • A payments portal should be accessible to UNCG staff and suppliers, with features such as reporting, scheduling payments, and secure credentials. • The firm must execute an initial supplier onboarding effort and provide ongoing support. • The firm must offer a bank verification service and include an indemnification clause for UNCG.