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Banking Services Request for Proposal <br />October 16, 2007 Page 2 <br />DYSCUSSION <br />The City circulated a request for proposal for banking services to 16 banking institutions on June 8, <br />2007. Eight responses were received with projected service costs ranging from $630 to $2,500 <br />monthly and based on a fixed level of service stipulated by the R~'P. The proposals excluded the <br />cost for armored car services which will be negotiated separately. After reviewing the proposals, 6 <br />banks were selected to provide an in-depth presentation and demonstrate their ability to support <br />daily City operations in an effective and efficient manner utilizing the bank's service applications. <br />The Evaluation Committee (consisting of six finance staff members) evaluated each banking <br />institutions presentation on the basis of who could provide the City with the best product and <br />customer support service. Based on a 100 point scale, overall ability to provide a products and <br />services to City government was weighted 70% and overall cost was weighted 30% of the <br />evaluation. <br />Below is a chart that depicts how staff categorized the 70% weighing on overall government <br />product and services for the top 6 banks. <br /> Wells Union <br /> Fargo US Bank of Bank of Fremont Bank of <br />Criteria % Bank Bank America Calif. Bank the West <br />1. Ability to provide efficient and user- <br />friendly web-based products and services ] 0% 9.33 9.67 7.33 7.00 6.67 6.50 <br />2. Ability to support products and provide <br />training on site 15% 13.83 14.33 10.00 10.67 9.50 9.17 <br />3. Reliability, experience, and quality of <br />customer service 15% 14.00 12.50 11.50 11.50 10.33 9.1'7 <br />5. Experience in providing services to the <br />public sector, as well as dedicated resources <br />and ersonnel 10% 8.67 9,00 8.67 8.00 6.50 6.50 <br />6. Community involvement and related <br />community Reinvestment Act contributions 5% 4.83 4.17 4.50 4.33 3.83 4.00 <br />7. Financial strength and ca italization 7% 7.00 6.83 6.67 6.50 5.33 5.67 <br />8. Dedication to the Government market 8% 7.83 7.83 7.33 6.83 6.17 6.67 <br />Total 70% 65.50 64.33 56.00 54.83 48.33 47.67 <br />G:~Banking~RFP~2007-Recommendation Staffreport2_doc <br />] 0/t 1 /2007 <br />