Vendor and processor RFP selection for a card issuer
A card issuer ran a structured RFP to select a new vendor and processor, weighing cost, capability and long-term platform fit.
- Client
- Card issuer (anonymised)
- Practice
- Payment consulting
The challenge
This card issuer needed to replace its core processing platform, but had no structured way to compare vendors beyond marketing claims and sales presentations.
Internal procurement bandwidth was limited, and the risk of a poor platform choice — locking the business into the wrong processor for years — was significant. The issuer needed a rigorous, defensible way to evaluate its options before committing.
Our approach
Run Ventures worked with the issuer to define functional and non-functional requirements across the platform's technical, operational and commercial dimensions.
We then ran a structured RFP process, including vendor demonstrations and reference calls, to compare candidates on a consistent basis rather than on their marketing material alone. Run Ventures stayed engaged through to contract negotiation, helping ensure the final agreement reflected what vendors had actually promised during evaluation.
The outcome
The issuer came away with a documented, board-defensible selection process that could withstand scrutiny from stakeholders and internal audit alike. The resulting contract reflected the commitments made during evaluation, giving the issuer confidence that the platform it signed for was the platform it would actually receive.
This is an illustrative, anonymised composite case study.
Have a similar challenge?
Replacing a processor or platform? Our consultants can help you run a structured, defensible selection — from requirements through to contract.