Banking Services

The buyer seeks a vendor to provide banking, treasury management, cash management, deposit, lockbox, and related financial services to a government authority located in Worcester, MA. The required scope includes deposit and cash management, treasury management, lockbox services, remote deposit capture, and ACH services. The buyer specifically requires management of 47 deposit accounts—comprising 38 checking, savings, and money market accounts and 9 investment sweep accounts—alongside 2 master savings accounts supporting approximately 356 interest-bearing escrow subaccounts. The selected banking partner must safeguard public funds, maximize deposit earnings, enhance operational efficiency, and offer robust fraud prevention, technology, and customer service capabilities. Eligibility is restricted to onshore USA organizations, and the vendor will perform all work offsite. The buyer requires a contract period of five years. The buyer has not specified a fixed budget and is looking for proposals to determine costs.