There’s a new way to purchase technology, because the buying process is broken.
The past few years has seen a new wave of Fintech providers who can help build out any banking function better. None of it helps if the procurement process is broken.
In banking, the buying process is broken. The bias and assumptions run deep. These bias are inherently baked into the buying process and manipulated by outside and inside influences. Case and point, when is the last time a CEO or President made a technology decision without the “aid” of a tech person inside the bank AND an outside consultant bringing a briefcase of surveys and their own bias? Do the best products win? Of course not. Otherwise banks would be full of great products.
But like any system in banking, there are tipping points, and procurement is a big one. A very big one.
Think about it, if Banks can change how they buy, they can change who they buy from. Bankers now understand that partnerships with B2B fintech providers are making a difference to the bottom line.
This means that the buying process needs to evolve from an outdated RFP process controlled by an outsider, to an internal control mindset partnered with hard data from FedFis. The leader in banking technology data.
Bankers can let go of the old assumptions to cut months off of finding the short list to minutes. It is a fully math based approach of factual interoperability meeting the goals of the institution. In only a few minutes, the answers are clear and the products are revealed along with metrics that help guide the banker to their final decision. We are not making decisions for you, we are arming you with MORE than all of the tech experts, to MAKE YOUR OWN DECISIONS.
Coming soon through our partners, FinTegration Strategist© by FedFis – The first of its kind product, using all of the technology data information for the entire industry, targeted and balanced to fit the exact need of your institution.
FinTegration Strategist© by FedFis
Copyright FedFis, all rights reserved.