Hidden Costs of Wrong Vendor Selection
Learn about the hidden warning signs that separate true partners from mere sales pitches, the questions banks should be asking but rarely do.
FEATURING: Jennifer Gibson, VP of Sales at Primax
Every week, we hear another story: A major bank’s mobile app crashes during peak hours with no vendor support in sight. A credit union’s core system update goes sideways, leaving customers locked out for days. A regional bank discovers that their “24/7 support” actually means “leave a voicemail and we’ll get back to you Tuesday.”
Here’s the brutal truth most banking executives learn too late: You’re not just buying a solution – you’re buying a relationship that could either supercharge your institution or slowly strangle it. While your procurement team obsesses over features and price tags, the real question that will determine your success or failure is this: When everything goes wrong at 2 AM on a Friday, who’s actually going to answer the phone?
I’m joined on the Banking Transformed podcast by Jennifer Gibson, VP of Sales for Primax, who has a front-row seat to both sides of this equation. Jennifer is here to reveal the hidden warning signs that separate true partners from mere sales pitches, the questions banks should be asking but rarely do, and why the most expensive mistake you can make is choosing the cheapest vendor.
Episode Sponsor: Primax
Primax provides community banks with an expansive array of value-added services and customizable solutions to help profitably grow their portfolios and deliver an unparalleled experience to cardholders. With a longstanding commitment to service excellence, Primax has been designing and providing support services for payment card programs for financial institutions throughout the U.S. and the Caribbean for over 40 years.
