Bob Carpenter focuses his practice on high impact transactions and counseling. While most of his engagements never make the news, some do. And, when they do, they demonstrate that Bob’s work is often on the cutting edge of legal developments.
Cornerstone Advisors, Inc. recently dished up some vendor gossip – the best and worst goings-on at the major core vendors for bank data processing. The following is one paragraph of Cornerstone’s “gossip” about Fidelity National Information Services.
Care for a Steamin’ Heap of Vendor Stew?
GonzoBanker, July 25, 2008
By Scott Hodgins
For mid-size banks and large credit unions, Fidelity has taken some broad steps to fill out its suite of ancillary products. Fidelity is diligently working to leverage its investment in eFunds and Certegy, and the response has been quite positive. Fidelity is also gaining momentum in the hot remote deposit market. Heck, the company is even working to affordably bring its fancy pants ACBS commercial servicing system to the unwashed masses of community banks needing an extra kick in their commercial functionality.
Well, the gossip is true! And, Bob Carpenter represented the first community bank to contract for the “fancy pants” ACBS commercial loan servicing system. Bob’s work on the ACBS solution required him to convince FIS to embrace a value proposition for ACBS that met community bankers’ needs.
ACBS’s website advertises itself as serving:5 of the top 5 world banks; 8 of the top 10 world banks; 12 of the top 15 world banks; 20 of the top 25 world banks; 34 of the top 50 world banks; and 48 of the top 100 world banks. So, demonstrating to ACBS the different value proposition paradigm for community bankers was not a breeze. But, paving the way for community bankers to employ “the gold standard for addressing the needs of today’s commercial lenders” is just another example of the high impact representation that Bob Carpenter provides to his clients.
