Comprehensive Banking Services

The City of Franklin, Tennessee is seeking proposals for comprehensive banking services, including general banking, lockbox processing, and cash for change. The selected institution will be required to provide services that match or exceed the current services provided by Pinnacle Bank. The contract will be for a term of four years, effective July 1, 2026. The proposer must be a bank association or financial institution organized and operating under the laws of the State of Tennessee or the United States of America, with either its principal office or a full-service branch office located within Williamson County, and an asset base of $100 million or greater. • The City has ten demand deposit accounts with the current bank, including a general operating account and several zero balance accounts. • The City uses positive pay verification of payee name, check number, date issued, and check amount. • The City has an average of 200-400 un-processable items per month. • The lockbox process usually services a volume of 3,000 items per month. • The proposer must maintain a mature, formally governed cybersecurity and information security program. • The proposer must provide continuous security monitoring, regular vulnerability scanning, and SOC 2 Type II, ISO 27001, or equivalent audit reports.