Welcome to the Golden Contract Coalition's Blog

Silent Shareholders Bleed Out Bank Mergers

Posted by Aaron Silva on Apr 19, 2017 3:22:17 PM

Does your Bank increase fees for loyal customers when they bring you new business with other companies and depositors? Do Banks penalize their commercial customers when they merge with other companies, need more capital or financial services? The answer is obviously NO to both questions. Such treatment would be anathema to community banking customer service and relationship building. But unbeknownst to most bank leaders, your most critical vendor would answer YES if they were running your institution.

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Topics: Mergers

GCC Update:  FIS and Jack Henry move to engage, Fiserv drags feet

Posted by Aaron Silva on Dec 14, 2016 11:37:24 AM


The Golden Contract Coalition has engaged all three targeted Core IT suppliers FIS, Jack Henry and Fiserv in order to open negotiations on behalf of our vast membership of banks and credit unions. A lot has been learned as we work with each company. All suppliers share dismay as to why so many of their clients have joined the Golden Contract Coalition as members. Averaging $1.7 billion in asset size, GCC members range from $150 million to $10 billion in assets per institution and represent the collective leverage of hundreds of millions of dollars in contract value. Each supplier claims that they are fair to their customers and always willing to make ‘tweaks and changes’ to their master contracts and pricing. All feel they have the fairest and most balanced contract on the market, so joining an organization like GCC should not be necessary – right? Our advanced discussions indicate that they really don’t understand just how upset and disappointed their clients are with the lack of technological innovation; inability to hold suppliers accountable for SLA misses; exclusivity clauses that prevent bankers from making competitive technology choices; general contract one-sidedness and lack of any economic or contractual leverage during long painful negotiations at renewal time.

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When fintech isn’t accessible: The contractual quagmire of community bank technology

Posted by Aaron Silva on Sep 9, 2016 2:38:22 PM

We recently had the opportunity to interview with Tradestreaming, explaining the complexities and challenges that community financial institutions experience with their Core and IT vendors.

Read the article HERE to dive into the discussion around GCC:

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The Team Fighting for You

Posted by Aaron Silva on Jun 9, 2016 11:52:44 AM

While nailing down the specific goals of GCC, I quickly concluded that I needed to unionize institutions together into a collective, building an influential voice backed by their large combined contract values.  I also recognized the need to get some real horsepower behind us from a credible firm that knows the IT game at the highest and global levels.

I needed a firm that could look any Core and IT supplier in the eye and cite text-and-verse from the authoritative sources on just about any term, best practice or legal covenant imagined. When I met with Pillsbury LLP, I knew I had found just the team. 

Understandably, bringing in lawyers can be an alarming notion. However, to get the fairest contracts, it’s vital to bring in the experts. By combining forces with Pillsbury, GCC is unstoppable.

Introducing: Bob Zahler and Elizabeth Zimmer 

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Topics: About Golden Contract Coalition

Introducing the Golden Contract Coalition

Posted by Aaron Silva on Jun 1, 2016 10:00:00 AM


 The cost, business distraction and uncertain outcomes associated with renegotiating a Core and IT supplier contract can be monumental.

Bankers that go it alone are at a huge disadvantage. Institutions smart enough to retain professional assistance from a company like Paladin fs can do an incrementally better job for their franchise and cost structure by negotiating with information, pricing data and market intelligence in their corner.

Unfortunately, both of these negotiating positions are defensive – you have to do the best with what you have and where you are at that moment. A long and sometimes painful dance ensues - strategizing, maneuvering, threatening and attempting to outsmart the Core IT supplier - all the while knowing that the vendor holds most, if not all the cards.

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Topics: About Golden Contract Coalition

It's time to change the game

Community banks and credit unions have struggled for decades under the oppressive weight of the Core vendor goliaths. For the first time in history, the Golden Contract Coalition (GCC) puts the power into the collective hands of institutions to challenge the vendor oligopoly – ending the era of underperforming IT functionality, unenforceable SLAs, unfavorable contract terms and overpriced, one-sided deals.


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