Banking Services

Isothermal Community College is seeking proposals from qualified financial institutions to provide comprehensive banking services that support the College’s operational and financial needs. The purpose of this RFP is to establish a banking partnership that ensures reliability, competitive pricing, and superior customer service while complying with all applicable local, state, and federal regulations. The College is looking for a vendor that can provide a range of services, including account maintenance, online access, positive pay, ACH fraud control, and wire transfer functionality. The vendor must also have a branch office within the geographic boundaries of Isothermal Community College and be able to provide transition assistance if the contract is not renewed. Some key requirements include: • The ability to handle high-volume, complex payment processing securely and efficiently • The provision of online account management services, including stop payments, bank transfers, and daily activity on all accounts • The ability to provide a minimum of seven years of cleared checks with images • The provision of approve/reject for ACH fraud control items presented • The provision of approve/reject for Positive Pay items presented • The ability to notify the College daily via email regarding deposited items returned for non-payment • The ability to re-deposit NSF checks a second time prior to debiting the College’s account and returning the check to the College • The provision of a summary of fraud protection and security measures to the College upon request • The maintenance of a current disaster recovery plan, including specific plans related to serving the College in the event of a disaster • The certification that they provide a current SOC upon request. The evaluation criteria for this RFP include: • Financial Institution’s Qualifications & Experience (25 points) • Proposed Banking Services (20 points) • Cost of Proposed Banking Services (20 points) • Support (15 points) • References (10 points) • Proposed Implementation Schedule (10 points) The College encourages vendors to identify opportunities to reduce the total cost of the College and to provide continuous improvement efforts to enhance business efficiencies as performance progresses.