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City of Indianapolis·Indiana

Banking Services

Closes 6/5/2026$500k – $2MRequest for Information
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Description

The City of Indianapolis and Marion County are seeking detailed information from qualified financial institutions about comprehensive municipal banking and depository services. This Request for Information (RFI) is purely informational and will be used to shape a potential future Request for Proposals (RFP) for banking, treasury management, and related technology services. Respondents must address nine thematic sections covering institutional background, account structures, fund protection, treasury management capabilities, technology integration, customer service, reporting, high‑level fee structures, and references. No pricing is required, and the City reserves the right to proceed, amend, or cancel the process at its discretion. • Provide narrative answers on bank overview, branch network, and experience with municipal clients. • Detail proposed account types, daily reporting, treasury management tools (ACH, wires, lockbox, positive pay, fraud monitoring, etc.). • Describe technology integration with ERP systems, cybersecurity measures, and reporting controls. • Supply high‑level fee models and references from similar municipal entities. • Submit the complete PDF response by June 5 2026, 12:00 PM ET via email to the contact listed.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

Jeff Eichelberger(Purchasing Agent)

[email protected]

(317) 327-4976

Key dates

Opened
5/11/2026
Questions due
5/22/2026
Closes
6/5/2026

Last updated

Details

Type
Request for Information
Industry
Financial Services
NAICS
522110
Solicitation №
RFI-11EAL-2026-1

Budget estimate

$500,000 – $2,000,000

While the RFI does not disclose a contract value, a typical municipal banking and treasury‑management contract for a city of ~1 million residents can range from several hundred thousand to a few million dollars annually, depending on service breadth, transaction volume, and technology integration depth. Assuming a multi‑year agreement (e.g., 3‑5 years) with comprehensive deposit, cash‑management, and ERP‑integration services, the total contract value could plausibly fall between $500,000 and $2,000,000 per year. Factors influencing the estimate include the City’s average ledger balances (~$23 million), transaction volume, and the level of customized technology support required.

AI estimate from the solicitation

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