First of all, let us be clear: we do not think vendors are bad. Third-party vendors play a valuable role in most financial institutions’ everyday operations.
However, from our perspective, a vendor relationship and a partner relationship are not the same; and when it comes to your overdraft program, a vendor just won’t cut it.
Managing a service that generates such a large percentage of your institution's overall non-interest income requires a true partner to your company. This partner should work as an extension of your business understanding and anticipating your goals and needs.