• Best Practices & Process Improvement
  • Benchmarking & Best Practices Assessment
  • Benchmarking - The Cornerstone Scorecard©
  • Process Improvement
  • Imaging and Workflow Automation
• Strategic Planning
  • Strategic Plan Development
  • Planning Facilitation
  • Strategic Plan Implementation
  • Organizational Assessment
• Technology Services
  • Technology Assessement
  • Strategic Technology Planning
  • Information Technology Governance and Project Management
  • IT Spending and Staffing Benchmarking
• System Selection
• Contract Negotiation
• Conversion Services
• Mergers and Acquisitions
  • Transaction Advisory Services
  • Merger Integration Services
• Risk Management
  • IT Disaster Recovery Assessment
  • Information Security Program Assessment
  • Business Continuity Planning

With a potential outlay of several million dollars, a core system decision may well represent the most significant strategic and financial investment your institution will make in the next five years. Unfortunately, many financial institutions find themselves victims of the three major roadblocks that stand between their organization and a successful system selection:

1. A shortage of information about vendors and their products
2. Lack of a clear methodology
3. Minimal time to manage such an important project

Enter Cornerstone Advisors. Cornerstone provides you with in-depth industry knowledge and the tools to ensure you make informed, well-documented vendor decisions that support your organization’s strategic goals.

The Benefits to You

Cornerstone’s hands-on experience from more than 125 core and ancillary system selection and contract negotiation engagements has enabled us to build a proven methodology to assist you in choosing a solution that closely matches your institution’s strategic technology vision.

Our skilled professionals help you sift through the hype and choose a vendor that fits your needs and your budget. These are the steps that make up a Cornerstone System Selection:

• Needs Assessment - A Needs Assessment documents your strategic and technology needs, identifies existing gaps in your system’s ability to help you achieve those goals, and begins the process for filling those gaps.
• Request for Proposal - Cornerstone customizes your RFP to make it most relative to your stated needs.
• Demos - A manageable number of scripted system demonstrations keeps the process on target and enables you to make apples-to-apples system comparisons.
• Summary Report - A summary report documents the thorough process you have undertaken and lends credibility to your decision before your board, auditors and regulators.
• Contract Negotiation - Cornerstone has negotiated contracts with virtually every major technology vendor in the industry and can ensure you the best possible advantage.

The Cornerstone Differentiation

• Proven Experience – Cornerstone has conducted more than 125 core and ancillary system selections and technology reviews for banks and credit unions of all sizes.
• Industry Knowledge – Cornerstone’s broad knowledge of the products’ strengths and weaknesses eases your research burden and allows you to devote more time to strategic issues.
• Dollars at Risk – Financial institutions typically spend 10% - 15% of their operating budgets on technology each year. Cornerstone's experience, vendor database and proficient contract negotiation skills will leave you confident that you have signed a winning deal with your processor of choice.

We’ve Done this Before

Here are just a few examples of work we’ve performed in this area:

• Illinois bank holding company ($6.5 billion) – Core and Cash Management Systems Selection and Contract Negotiation
• Midwest community bank ($3.3 billion) – Core and Loan Origination Systems Selection, Conversion Oversight/Process Improvement Services and Contract Negotiation
• Texas bank ($10 billion) – Branch Automation System Selection and Contract Negotiation
• Agribusiness credit bank ($12.8 billion) – Core System Selection, Contract Negotiation, Core and Lending Systems Conversion Oversight
• Full service central California community bank ($1.5 billion) – Consumer, Mortgage and Commercial Loan System Selections, Conversion Oversight/Process Improvement and Contract Negotiation
• Privately held Kansas bank ($689 million) – Bid Analysis and Contract Negotiation
• North Carolina credit union ($1 billion) – Internet Banking System Selection and Conversion Oversight
• New England credit union ($3 billion) – Credit and Debit Card and ATM Processing System Selection, Internet Banking System Contract Negotiation
• Texas credit union ($3 billion) – Comprehensive Technology and Core System Assessments
• Great Lakes region credit union ($650 million) – Core and CRM Systems Selection, Conversion Oversight and Process Improvement, Contract Negotiation
• New Mexico credit union ($900 million) – Consumer and Mortgage Lending Systems Selection Advisory Services
• Washington, DC credit union ($420 million) – Telephone System Selection