BAYTOWN, Texas, Feb. 5, 2008 (PRIME NEWSWIRE) -- John M. Floyd & Associates (JMFA) has announced an exclusive partnership with Discovering Money in Networks (DMi Networks). JMFA and DMi Networks are teaming together to offer financial institutions a service designed to optimize contracts and agreements for processing and technology services. DMi Networks has achieved a 98 percent success rate in reducing processing and technology costs for its clients, saving them in excess of $24 million since its inception in 2003.
As a profitability and performance improvement consultant, JMFA helps financial institutions improve their operations and ultimately their bottom line. "Given the squeeze on margins that all financial institutions are experiencing today, we have been concerned by our clients' need for help in reducing operational expenses," said Steve Swanston, Executive Vice-President of Business Development for JMFA. "So we have tapped DMi Networks to help us provide a program that positively addresses those challenges."
With JMFA's new Contract Cost Reduction Service - which is offered risk-free - financial institutions get expert advice on such issues as pricing, service, support, and terms and conditions related to proposals, contracts and agreements on their major processing and technology services. Ultimately, the goal is for the financial institution to lower the cost of its contracts while increasing the level of service it receives.
The contract negotiation services include the following:
* ATM/debit card processing contracts;
* Check vendor contracts;
* Core data processing contracts (service bureaus only);
* Internet banking contracts;
* Telecommunications contracts;
* Image/item processing contracts; and
* Much more.
"Because JMFA has built such an excellent reputation with banks and credit unions over the past 35 years - and they serve clients in all 50 states - we are excited to team up with them to provide our extraordinary savings solutions to financial institutions across the country," said James R. Cullen, the CEO and founding principal of DMi Networks. "JMFA has the industry star power to allow our service to do the greatest amount of good." Cullen has over 30 years experience within the financial industry and as a contract negotiator, first for NCR Corporation and then for AT&T.
About John M. Floyd & Associates (JMFA)
John M. Floyd & Associates is a profitability and performance improvement consulting firm and a leading provider of overdraft privilege programs serving more than 2,000 financial institutions in all 50 states and in Central America. JMFA is also recognized for fraud detection, training, account acquisition, executive placement and earnings enhancement programs, as well as product, service, pricing and technology improvement consulting. As a direct result of its programs, JMFA has helped literally thousands of clients dramatically improve their performance as well as their bottom line. To learn more about JMFA, visit www.JMFA.com
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