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Frenemies: Gaining Efficiency Through Shared Services

the-bank-accountBryan Cave colleagues Ken Achenbach and Sean Christy join Jonathan and me on this episode of The Bank Account to examine the ability of banks to gain efficiency through shared services.  Throughout the business environment, business are looking to out source all non-core competencies.  Ken and Sean explore the opportunity for banks to similarly explore the opportunity for banks to join forces to purchase outsourced services and invest in technology platforms together. By working together, banks can leverage buying power and share the burden associated with evaluating their vendor options.

You can follow most of us on Twitter.  Jonathan is @HightowerBanks, I’m @RobertKlingler, and Sean is @SeanChristy.  Following Ken on Twitter is difficult, as he has, so far, refused to access that part of the internet.  Our producer, Sam Katz, is @SamathaJill1.

Note:  This episode was recorded before the University of Florida announced it was cancelling this weekend’s football game against Northern Colorado due to Hurricane Irma.  The Gators drought in offensive touchdowns will therefore continue at least another week.  We hope everyone stays safe.

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Regulatory Supervision of Third Party Service Providers

the-bank-accountWith Jonathan and I attending the Georgia Bankers Association’s 125th Annual Meeting, Bryan Cave colleagues Ken Achenbach and Sean Christy broke into our podcasting studio to record an episode of The Bank Account looking at vendor negotiations through a regulatory lens.

The FDIC’s Office of Inspector General’s Report on Technology Service Provider Contracts provides another source of regulatory guidance that needs to be considered while negotiating vendor contracts.  Ken and Sean look at the evolving state and federal framework of regulatory oversight of service providers, and how banks should adopt to this framework in contract negotiations.

You can follow Sean on Twitter at @SeanChristy.  Ken doesn’t need Twitter; he’s already following you.

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The Strategic Approach to Vendor Negotiations

the-bank-accountOn March 17, 2017, Jonathan and I sat down with Bryan Cave Partner Sean Christy in the latest episode of The Bank Account for a discussion of the FDIC’s Office of Inspector General’s Report on Technology Service Provider Contracts.  Before diving into the OIG report, Jonathan and I briefly discuss the potential impact on deposits with regard to the Federal Reserve’s latest increase in rates, the OCC’s draft supplement for fintech bank charters (and related BankBryanCave.com blog post), and the change in Federal Reserve policy lessening the examination of certain smaller bank mergers.

Sean is a partner in our Strategic Sourcing group, and has significant experience representing bank and other financial services providers in the negotiation of the their technology contracts.  In this episode, Sean helps us look at the key takeaways from the February 2017 FDIC OIG’s report on Third Party Service Provider Contracts with FDIC-Supervised Institutions.  Sean provides some practice advice for institutions as they approach negotiations with their service providers, and also breaks down some of the common issues identified in the report that he also regularly sees in the contracts he reviews.

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