Description
The State of Missouri, Office of Administration, Division of Purchasing, is seeking proposals for banking safekeeping depository account services. The selected contractor will provide services to the Department of Commerce and Insurance, including maintaining online communications systems, tracking deposits, and generating reports. The contractor must have a minimum of five years of experience providing banking services, banking safekeeping, online communications systems, and order inquiries. The contract period is for one year, with the option to renew.
• The contractor must have a Missouri-based financial institution and a dedicated online connection with the Federal Reserve System.
• The contractor must provide a method of performing secure inquiries and secure data transfers to and from the state agency.
• The contractor must maintain certain state agency-defined fields in their online communication system.
• The contractor must provide reports necessitated by various transactions, including exception reports, weekly and monthly reports, and special reports.
• The contractor must comply with all applicable State of Missouri laws and regulations, including those related to the handling of securities by the state agency.