We’ve been preaching for some time the importance of closely tracking vendor contract amendments, subtle moves in transaction volumes, and other sometimes overlooked changes that can translate to meaningful shifts in a financial institution’s (FI) cost base and affect vendor relationships. We now have a real-time cautionary tale to help drive this point home.
Topics: Vendors & Contracts
Banking is banking, right? Financial institutions (FIs) take in deposits, lend out money, charge fees for a variety of related services, and hopefully have a bit more in the till at day’s end than they started with. So surely FIs in a neighboring country whose citizens speak the same language (mostly) and transact their business in something called dollars, would be almost identical to ours in the US, right? Nope.