Description
The State of Delaware is seeking proposals from qualified firms to provide banking services, including general banking, lockbox processing, purchasing and virtual card services, prepaid debit card services, and check printing services. The selected vendor will be expected to provide high-performance banking services, offer strategic insights, and deliver structured, data-driven reporting. The contract term will be five years with two optional two-year extensions. The State intends to select one or more vendors to provide the required services.
Key aspects of the job include:
• Providing general banking services, including handling collections and disbursements
• Offering lockbox processing services for three separate agencies
• Supporting the State's Purchasing Card Program and Virtual Card/Single Use Account Program
• Providing prepaid debit card services for distributing benefits
• Printing checks for the State
• Delivering structured, data-driven reporting and attending periodic meetings with the State and its consultants
• Enhancing financial operations and service delivery to State agencies and taxpayers
• Managing collection and disbursement accounts in alignment with the State's liquidity strategy
• Promoting electronic payment methods and reducing manual processing
• Providing risk management and cybersecurity preparedness
• Offering innovation in treasury operations and adaptation to emerging technologies