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Information & Communication Technology

 

Request for Proposal RFI Evaluation

Faced with the higher customer expectations and fierce competition, banks are driven to differentiate their services from their competitors. To meet the changing market and customer needs, banks are required to introduce an IT solution, which has a capability of defining new product/services with the ability to access and manage information on a continuous real-time basis.

BOA offers various services such as retail banking (Savings, Special Savings, Current account, Loan and Certificates of Deposit) and Trade finances (Import, Export, Guaranty and etc). To ensure customer service to highest quality and to increase efficiency of staff operations, our bank would like to automate all operational activities with reliable banking IT systems.

We are in the process of selecting software vendor. The bank has drawn the following steps  for selection of Banking System Software Vendor.

  • Issue Request for Information RFI and obtain “long list”
  • Evaluate RFI and obtain “short list” (maximum four)
  • Issue Request for Proposal RFP to short listed vendors
  • Evaluate RFP and short list two vendors
  • Conduct Reference site visit
  • Decide Finalist
  • Sign Contract

Our bank has issued  RFI and short listed four companies based for RFI Responses . Tender issued to shorted listed companies and proposal received. We are in the process of evaluation.

 

 

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