Best practices for reviewing vendor contracts

Protect your institution. Negotiate with confidence. Launch on the right terms.

Choosing a digital banking software partner is a strategic decision, but the real value lies in the contract that defines the partnership. Without clear, structured negotiation, financial institutions risk hidden costs, operational disruptions, and compliance gaps that surface long after the ink is dry.

This guide outlines the best practices to review, negotiate, and finalize your vendor contract with precision and control. It’s built specifically for financial institutions preparing to select or finalize a digital banking platform.

Why download this guide?

The right contract sets the tone for your entire digital banking relationship. This guide equips you with best practices that:

• Strengthen data protection and clarify integration responsibilities
• Align your contract with FDIC guidance and risk frameworks
• Define SLAs, support models, and clear exit strategies
• Lock in pricing transparency and future-proof your platform

This resource gives you the structure to advocate for your institution and build a resilient, long-term partnership.

What’s inside

FDIC-aligned contract recommendations

Leverage the Interagency Guidance on Third-Party Relationships to add protective clauses and demonstrate compliance from day one.

Integration, pricing & change management terms

Avoid common missteps by clearly defining integration ownership, pricing escalation policies, and change request processes.

SLA and performance agreement best practices

Define measurable outcomes, penalties, and escalation paths to protect uptime, service levels, and response times.

Guidance on data protection, support, and maintenance

Understand how to negotiate vendor responsibilities for data privacy, incident response, and ongoing support.

Key clauses to prioritize

From termination rights to customization terms, learn which parts of your agreement deserve the most scrutiny.

Who should use this guide?

This guide is built for digital banking leaders and internal teams shaping vendor relationships and negotiating key platform agreements:

• Executive sponsors and procurement leads finalizing digital banking contracts
• IT, security, and compliance teams evaluating risk, data handling, and platform oversight
• Operations and digital product managers responsible for implementation and scalability
• Legal and vendor management teams tasked with reviewing, negotiating, and protecting long-term interests

Set the terms today for a smoother tomorrow

Smart contract negotiation does more than protect your institution, it sets the tone for a high-performing, future-ready vendor relationship. Download this guide and make sure your digital banking platform launch starts on strong, secure, and clearly defined terms.