Before joining SRM, I worked almost exclusively with the top 50 U.S. banks, helping them with strategic sourcing decisions and vendor contract negotiations. Since coming to work for SRM though, I’ve been exposed to a broader array of sizes and types of institutions, spanning both the 150 financial institutions exceeding $10 billion in assets as well as the 12,000 banks and credit unions with assets below $10 billion. Given this perspective, it is not difficult to notice the many differences between the national and regional institutions versus those who operate in the community market. In the realm of vendor management, these differences manifest in three distinct ways.
