Banking Services

City of Indianapolis and Marion County
Request for Information
Banking Services
RFI Due Dates
Document Number RFI-11EAL-2026-1
Estimated Published Date May 11, 2026
Questions Due May 22, 2026 - by 12:00 Noon Eastern Time
Must be submitted in email to Jeff.Eichelberger@Indy.Gov
RFI Responses Due June 5, 2026 by 12:00 Noon Eastern Time
Must be submitted in email to Jeff.Eichelberger@Indy.Gov by
12:00 Noon Eastern Time
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Final - May 2026 RFI-11EAL-2026-1 1

City of Indianapolis and Marion County
Request for Information
Banking Services
1. Purpose
The City of Indianapolis and Marion County, Indiana ("the City-County") is issuing this Request for
Information (RFI) to gather information from qualified financial institutions regarding comprehensive
banking and depository services.
This RFI is for information and planning purposes only and does not constitute a solicitation for bids or
proposals. The City-County may use the information gathered to develop a future Request for Proposals
(RFP).
2. Background and Structure
The City of Indianapolis and Marion County, Indiana are local governments in Indiana, serving a
population of approximately 981,000.
The City-County is seeking information from experienced financial institutions capable of providing
secure, efficient, and cost-effective banking services in compliance with applicable Indiana state statutes
governing public funds.
The City of Indianapolis and Marion County, Indiana have separate accounting teams for financial
reporting and treasury management.
Account Structure and Activity Volumes (approximate)
See Appendix A for City of Indianapolis' and Marion County's account structure and activity volumes.
3. Objectives
Through this RFI, the City-County seeks to better understand:
* Available banking service models for municipalities
* Transaction processing (ACH, wire, positive pay, remote deposit capture (RDC)
* Lockbox (tax payments)
* Online banking/treasury portal features
* Stored value / payroll card solutions (if available)
* Remote deposit scanners and equipment support
* Technology platforms and integration capabilities
* Cash management tools and fraud prevention practices
* Approaches to public funds protection
* Customer service models and implementation practice
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City of Indianapolis and Marion County
Request for Information
Banking Services
4. Information Requested
Respondents should provide narrative responses to the following:
A. Financial Institution Overview
1. Provide a brief history of your institution.
2. Describe your experience serving municipal or governmental clients, including approximate
number and size.
3. Describe your presence in Indiana and/or the Midwest.
4. Describe your organizational structure as it relates to public sector banking services.
5. Provide a list of all branch locations within the Marion County, Indiana and describe availability of:
Drive-thru services
o
Night depositories
o
Cash handling capabilities (coin/currency)
o
6. Describe your institution's strategy regarding branch network expansion or consolidation.
B. Account Structure & Depository Services
1. Describe the types of accounts typically recommended for municipalities (operating, payroll, zero-
balance, investment, etc.).
2. Describe your ability to manage multiple accounts with consolidated reporting.
3. Daily balance reporting capabilities
4. Describe availability of interest-bearing accounts and earnings credit structures.
5. Describe your approach to account analysis statements and reporting.
C. Public Funds Protection
Respondents must describe how they comply with Indiana laws governing the protection of public
funds, including participation in the Indiana Public Deposit Insurance Fund, as established under
Indiana Code 5-13-12.
1. Describe your participation in the Indiana Public Deposit Insurance Fund.
2. How does your institution ensure compliance with Indiana Code 5-13-12?
3. Describe how public funds are identified, reported, and protected under your processes.
4. Describe any additional safeguards beyond the statewide pooled insurance structure.
5. What reporting, if any, is available to clients regarding deposit coverage?
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City of Indianapolis and Marion County
Request for Information
Banking Services
D. Treasury Management Services
1. Describe your online banking platform capabilities.
2. What tools are available for cash positioning and forecasting?
3. Describe your ACH services, including origination, controls, and reporting.
4. Describe your wire transfer capabilities, including security features, such as validation services.
5. Describe availability of the following services:
Remote deposit capture
o
Lockbox services
o
Positive pay (check and ACH)
o
Fraud monitoring tools
o
Merchant Services
o
6. Describe cutoff times and processing windows for key transactions.
7. Describe Real-time reporting and alerts
8. Describe your card solutions
Payroll card solutions
o
In-house or outsourced store valued card solutions
o
E. Technology & Integration
1. Describe integration capabilities with common municipal ERP systems. The City-County utilizes
Oracle PeopleSoft.
2. What are the file transmission capabilities
3. Describe your ability to automate:
Bank reconciliations
o
File transmissions
o
Reporting feeds
o
4. Describe your cybersecurity framework and any relevant certifications.
5. Describe system uptime, redundancy, and disaster recovery capabilities.
6. Describe your strategic investments in technology and security.
F. Customer Service & Implementation
1. Describe your service model for municipal clients.
2. Will the City-County have a dedicated relationship manager?
3. Describe your implementation/onboarding process.
4. Provide a typical implementation timeline.
5. Describe training provided to staff.
6. Describe escalation procedures for service issues.
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City of Indianapolis and Marion County
Request for Information
Banking Services
G. Reporting & Controls
1. Describe standard reporting available to clients (daily, monthly, custom).
2. Describe audit trail capabilities within your platform.
3. How does your system support segregation of duties?
4. Describe dual-approval or multi-factor authorization controls.
5. Describe support for annual audits and confirmations.
H. Fees & Pricing (High-Level Only)
1. Provide a general overview of your pricing model (i.e., fee-based, earnings credit rate, hybrid).
2. Describe typical fee categories charged to municipal clients.
3. Describe how pricing may vary based on account balances or activity levels.
4. Describe available integrated investment options.
5. Are liquidity portal options available for excess funds.
6. Describe how the rate of return on accounts will be determined.
I. References
1. Provide 2-3 references from municipal clients of similar size/complexity.
2. Include contact name, title, and services provided.
5. Response Format
Responses should:
* Follow the structure outlined above
* Be concise but sufficiently detailed
* Include any supplemental materials such as appendices
6. Privilege Clause; Right to Alter
Notwithstanding any other provision in this RFI, the City may, in its sole discretion, elect not to
proceed with an RFP or with any transaction contemplated by this RFI. The City is under no
obligation to respondents to this RFI.
The City further reserves the right to selectively identify on the basis of demonstrated products,
qualifications, some, but perhaps not all, respondents to this RFI for participation in the presentation
stage of this RFI process, and/or for further participation in any RFP and/or bid processes that may
be issued.
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City of Indianapolis and Marion County
Request for Information
Banking Services
The City reserves the right to alter any of the conditions and criteria outlined in this RFI, including
the deadline for submissions, by posting addenda on the City's website at
https://www.indy.gov/workflow/find-bid-opportunities.
7. No Contract; Costs and Expenses; Additional Information
This is an inquiry only. By responding to this RFI with a written submission or otherwise participating
in the process as outlined by this RFI, each submitting party expressly agrees that no contract of any
kind is formed under or arises from this RFI and that no legal obligations as between any one or
more proponents and the City will arise.
This RFI, therefore, does not invite "priced offers" and no pricing information is to be
returned as part of a vendor response.
Each respondent is solely responsible for its own costs and expenses in preparing and submitting a
response to this RFI and participating in the RFI process, including any provision of any additional
information or attendance at meetings or interviews.
The City shall have no monetary obligation to any respondent to this RFI. The City will make
information available to respondents via its website at
https://www.indy.gov/workflow/find-bid-opportunities and will not respond to requests for additional
information or make copies of documents as part of this solicitation process.
8. SUBMITTAL PROCESS
a. Submission Requirements
RFI submission should be sent in PDF format and emailed to:
Jeff.Eichelberger@Indy.Gov
b. Questions
Any questions related to this RFI may be directed to:
Jeff Eichelberger
Office: 317-327-4976
Jeff.Eichelberger@Indy.Gov
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Appendix A
City of Indianapolis
2025
January February March April May June July August September October November December YTD Average
Branch Deposits 3 53 3 67 4 15 4 22 3 93 5 81 6 74 3 45 3 73 3 73 2 93 3 22 409
Night Drop Deposits 1 2,473 1 3,305 2 9,639 3 7,517 5 5,109 6 3,611 5 4,324 3 9,331 4 3,853 3 4,033 1 7,608 4,791 33800
Teller Line Deposits 2 1,537 2 0,037 3 3,280 3 1,050 2 1,522 9 4,081 8 9,330 2 4,716 1 6,193 1 7,739 1 4,665 2 0,890 33753
Check/Debit Posted 1 ,515 1 ,701 1 ,995 2,270 2 ,156 2 ,487 2 ,575 2 ,403 2 ,047 1 ,923 1 ,643 2,022 2061
Wires 1 4 5 2 5 6 1 1 1 3 7 2 6 2 1 5 7
ACH Credit Originated 2 3,105 2 0,223 2 0,107 2 6,173 1 9,414 2 0,521 2 3,162 1 9,896 2 0,296 2 5,268 2 0,293 2 4,027 21874
ACH Debit Originated 2 ,170 2 ,188 2 ,083 2 ,185 2 ,311 2 ,109 2 ,244 2 ,144 2 ,087 2 ,152 2 ,097 2 ,213 2165
ACH Credit Received 4 31 3 48 4 00 4 17 3 74 3 67 3 78 4 17 4 04 3 85 4 23 4 28 398
ACH Debit Received 117 9 1 9 4 9 3 9 9 1 12 9 4 8 9 1 29 1 46 1 15 9 5 106
H2H Check Items Reported 1 ,363 1 ,577 2 ,171 2 ,128 2 ,135 2 ,504 2 ,500 2 ,515 1 ,964 1 ,921 1 ,769 1 ,868 2035
H2H Trans Detail Reported 1 ,886 2 ,031 2 ,632 2 ,563 2 ,562 3 ,047 2 ,919 2 ,976 2 ,425 2 ,476 2 ,343 2 ,301 2513
Average Ledger Balance 23,572,205 23,147,895 21,170,403 21,333,032 24,388,843 35,295,197 23,354,878 25,753,279 23,733,845 24,360,000 27,483,263 25,714,740 2 4,942,298
Banking Relationships 1
Average Monthly Liquid Account Balance
Marion County
2025
January February March April May June July August September October November December Average
Check/Debit Posted 1705 2172 2799 2443 2466 2636 2154 2392 2197 2434 2217 2727 2362
Wires 10 16 22 41 3 4 18 16 20 39 24 24 20
Credit Originated 9091 9176 9023 9054 8922 9209 13582 7879 8966 8893 8957 13459 9684
Debit Originated 19 14 21 26 22 30 20 21 18 22 16 26 21
H2H Check Items Reported 1873 2125 2899 2323 3007 2625 2141 2511 2083 2404 2360 2451 2400
H2H Trans Detail Reported 3824 3609 4843 8568 8417 4446 3796 4341 3880 4347 4693 4110 4906
0
Average Balance $ 1 3,351,121 $ 12,757,218 $ 12,384,151 $ 19,473,314 $ 48,102,190 $ 48,877,072 $ 12,962,078 $ 13,061,160 $ 12,574,206 $ 18,928,993 $ 31,171,474 $ 43,361,950 $ 23,917,077
Banking Relationships 13
Average Monthly Liquid Account Balance $ 4 19,846,802