Outsourcing and Vendor Service Agreements

Negotiation of outsourcing arrangements and vendor service agreements is a primary function of the bank regulatory and consumer financial services area. We have assisted clients in the outsourcing of credit, customer service, collection, accounting, treasury, wire transfer, check processing, ATM processing/servicing and other back office functions.

We have assisted in the outsourcing of a comprehensive range of services and technology for banking products, from account origination through collection.

We have also negotiated agreements for phone services, equipment purchase and leasing, check guarantee and electronic check services and all facets of payment systems processing.

We have negotiated technology (hardware, software, maintenance) and service agreements with major financial service vendors such as Metavante, Fiserv, Alltel, Total Systems, Vital and First Data, as well as agreements with credit reporting agencies and companies providing credit scoring and other risk analysis technology. Our attorneys are well versed in federal laws, rules and regulations governing bank operations and ACH, card association and debit network rules, regulations and requirements to assist the providers and recipients of payment processing services. We are knowledgeable in all types of cross-border payment processing arrangements.

Related Practices

Representative Transactions

• The firm negotiated a significant vendor agreement to supply draft capture image technology for check processing.
• We negotiated major systems arrangements with Verizon and AT&T for multi-year, multi-million-dollar agreements.
• Our attorneys negotiated exclusive ATM deployment and maintenance agreements with Diebold and NCR.
• We negotiated agreements with NYVE, Star, Shazam and other major networks.