After years of successfully standing up against the Core IT oligopoly to secure more equitable contracts – one institution at a time, Paladin fs saw the opportunity to leverage the collective negotiating power of large groups of financial institutions.
Fed up with the way that community banks and credit unions were being out-smarted and out-maneuvered in one-on-one negotiations, Paladin CEO Aaron Silva has teamed up with Pillsbury LLP, the leading IT contract negotiation law firm in the world, to create the Golden Contract Coalition (GCC).
Bringing together banks, credit unions and their trusted business partners, the GCC was formed to address Core vendor contract disparities from one institution to another. The coalition aims to level the playing field by creating a fair standard agreement only accessible to GCC members.
The Golden Contract will strip excessive legalese and self-serving conditions from Core IT agreements and pricing. By dictating the master commercial terms and legal conditions by which all Core providers must abide, the Golden Contract puts the power back in the hands of the community institutions and much-needed money onto their bottom line.
How It Works
A great core contract is golden
A drastic departure from normal core vendor negotiations, the GCC starts with a contract template – the “Golden Contract” – assembled from the best and most favorable contract provisions available in contemporary IT agreements provided by global firms outside of this industry.
From these fair, balanced and flexible terms, the GCC leadership will pre-negotiate on behalf of its members to secure necessary, equitable concessions from the “Big 3” core suppliers and their ancillary vendors. With that groundwork laid and leverage applied, the GCC can then negotiate your individual contract and pricing based on the custom needs of your institution.
From group strength to individual goals, the GCC represents a better way to negotiate.
Led by banking and legal executives, the GCC maintains insider knowledge of core & IT contract negotiations, proprietary data, and the ability to negotiate with legacy core providers and contemporary FinTech as equals.
Golden Contract Coalition – A great core contract is golden