RFP No. 1012-26-029 Banking Services Addendum #1

Request For Proposals (RFP) No. 1012-26-029 for
Banking Services
Revised by Addedndum One (1)
Research Triangle Regional Public Transportation Authority dba GoTriangle (GoTriangle),
as authorized under the 160A-610, is seeking to establish a contract for the above
referenced services.
The Request for Proposal (RFP) document is available for download on the State of North
Carolina Electronic Vendor Portal (eVP), and GoTriangle's procurement website:
https://gotriangle.org/procurement
Submission Date & Time: June 2nd, 2026 2:00 PM local NC time
Submission Location: Via email to:
Dean Nunnally, Procurement Officer
Email: DNunnally@gotriangle.org
Pre-Offer Conference: No Pre-Offer Conference will be conducted
Instructions for preparing and submitting a proposal are provided in the Instructions to
Offerors section of this document. To be deemed responsive and responsible, offerors
must submit all items specified in Section 6. Proposal Content of the Instructions to
Offerors.
All Inquiries regarding this solicitation shall be submitted to:
Dean Nunnally, Procurement Officer
Email: DNunnally@gotriangle.org Office: 919 485 7481
LATE PROPOSALS WILL NOT BE ACCEPTED.
GOTRIANGLE RESERVES THE RIGHT TO REJECT ANY OR ALL PROPOSALS.

TABLE OF CONTENTS
SCOPE OF SERVICES .......................................................................................................................... 4
1. Background ................................................................................................................................ 4
2. Minimum Qualifications & Mandatory Requirements ..................................................................... 6
3. Core Banking Services ................................................................................................................. 8
4. Deposits ..................................................................................................................................... 9
5. Online Services ......................................................................................................................... 10
6. Wholesale lockbox service ........................................................................................................ 11
7. Reporting and Statements ......................................................................................................... 12
8. Fraud Prevention and Risk Mitigation Support ............................................................................. 14
9. Implementation and Customer Service ...................................................................................... 15
10. Service Levels (Business Continuity and Disaster Recovery) ........................................................ 17
11. Information Security Program .................................................................................................... 17
12. Pcard Program (Optional) .......................................................................................................... 18
13. Check Validation (Optional) ....................................................................................................... 20
14. Armored Transport Services (Optional) ....................................................................................... 21
15. Additional Requirements ........................................................................................................... 21
Exhibit A - Avegare Banking Services Volume ....................................................................................... 23
TERMS AND CONDITIONS ................................................................................................................ 26
1. Services ................................................................................................................................... 26
2. Contract Term ........................................................................................................................... 26
3. Invoicing, Compensation, and Payment Terms ........................................................................... 26
4. Changes in the Services ............................................................................................................ 27
5. Conflict of Interest .................................................................................................................... 28
6. Contract Termination ................................................................................................................ 28
7. Transition Assistance ................................................................................................................ 30
8. Indemnification and Hold Harmless ........................................................................................... 31
9. Limitation of Liability ................................................................................................................. 32
10. Dispute Resolution .................................................................................................................... 32
11. Choice of Law / Forum ............................................................................................................... 33
12. Insurance ................................................................................................................................. 33
13. Independent Contractor ............................................................................................................ 33
14. Accuracy of Financial Statements .............................................................................................. 34
15. Non-Discrimination ................................................................................................................... 34
16. Covenant Against Contingent Fees ............................................................................................. 34
17. Delegation and Assignment ....................................................................................................... 35
18. Nonwaiver ................................................................................................................................ 35
19. Merger ...................................................................................................................................... 35
20. Reference ................................................................................................................................. 35
21. Financial Institution's Personnel ................................................................................................ 35
22. Certification on Israel Boycott .................................................................................................... 35
23. Notices..................................................................................................................................... 36
24. No Third-Party Rights ................................................................................................................. 36
25. Severability ............................................................................................................................... 36
26. Survivorship .............................................................................................................................. 36
27. Attachments ............................................................................................................................. 37
28. Iran Divestment Act ................................................................................................................... 37
29. E-Verify ..................................................................................................................................... 37
30. Debarment Policy ..................................................................................................................... 37
31. Force Majeure ........................................................................................................................... 38
32. Operational Continuity .............................................................................................................. 38
33. Acceptance Process ................................................................................................................. 38
34. Patent, Copyright and Trade Secret Protection ............................................................................ 39
Page 2 of 77

35. Service Organization Report Requirement .................................................................................. 40
36. Data Security ............................................................................................................................ 41
INSTRUCTIONS TO OFFERORS ......................................................................................................... 44
1. Anticipated Procurement Schedule ............................................................................................ 44
2. Questions and Clarifications ..................................................................................................... 44
3. Pre-Offer Conference ................................................................................................................ 45
4. Addenda ................................................................................................................................... 45
5. Exceptions to Terms and Conditions .......................................................................................... 45
6. Proposal Content ...................................................................................................................... 46
7. Proposal Submittal ................................................................................................................... 49
8. Selection Procedures ................................................................................................................ 50
9. Evaluation ................................................................................................................................ 50
10. Public Records and Proprietary Information ................................................................................ 51
11. Contractual Relationships ......................................................................................................... 52
12. Modification and Withdrawal of Proposals .................................................................................. 52
13. Proposal Rejection / Reserved Rights ......................................................................................... 52
14. News Releases ......................................................................................................................... 53
15. Identifying Conflicts of Interest .................................................................................................. 53
16. Protest Procedures ................................................................................................................... 53
ATTACHMENTS................................................................................................................................. 56
Attachment A - Offeror Form .............................................................................................................. 57
Attachment B - Cost Proposal ............................................................................................................ 58
Attachment C - Minimum Insurance Requirements ............................................................................. 62
Attachment D - E-Verify Employer Compliance Statement ................................................................... 66
Attachment E - Iran Divestment Act Certification ................................................................................. 67
Attachment F - Boycott of Israel Divestment Act Certification .............................................................. 68
Attachment G - Certification Regarding Conflict of Interest .................................................................. 69
Attachment H - Statement of Non-Collusion ....................................................................................... 70
Attachment I - Conformance Statements ............................................................................................ 71
Attachment I-1 - Exceptions Form ...................................................................................................... 72
Attachment J - Offeror References ...................................................................................................... 73
Attachment K - Statement of Judgments ............................................................................................. 74
Attachment J - Responsiveness and Responsibility Statement ............................................................. 75
Attachment K - RFP Response Checklist ............................................................................................. 76
Page 3 of 77

RFP No. 1012-26-029, Banking Services
Scope of Services
1. Background
Research Triangle Regional Public Transportation Authority d.b.a. GoTriangle (GoTriangle) is a
public transit agency serving Durham, Orange, and Wake counties in North Carolina, providing
essential mobility services through fixed-route bus, paratransit, and other commuter services. As
authorized under the N.C.G.S 160A 610, GoTriangle is seeking to establish a contract for
provision of Banking Services.

As the organization continues to evolve and enhance its financial and procurement processes, it
seeks to ensure that its banking services are efficient, secure, cost-effective, and aligned with
industry best practices. Through this RFP, GoTriangle is soliciting proposals from qualified
financial institutions to provide comprehensive banking services. The selected Financial
Institution (FI) contractor will be expected to demonstrate the ability to support the organization's
operational needs, provide innovative banking solutions, ensure strong internal controls and
fraud prevention measures, and deliver high-quality customer service.
The Financial Institution shall submit a proposal, at a minimum, for the Core Banking Services
and may submit proposals for any or all Optional Services:
Service Proposal Requirement
Core Banking Services Mandatory
Purchasing Card (P-Card) Program Optional
Check Validation Services Optional
Armored Transportation Services Optional
1.1. Current Bank Structure
GoTriangle manages a diverse range of financial activities, including revenue collection,
payment disbursement, management of operating and capital funds, and oversight of
supporting accounts. Currently, GoTriangle maintains multiple banking relationships to
support key functions such as accounts payable, payroll for approximately 350 employees,
revenue collection, debt service, investment activities and the Tax District Administration
(TDA) operations. The organization's banking structure is as follows:

RFP No. 1012-26-029, Banking Services
1.1.1. Transit Operations:
a) Bank A:
Main account with an average balance of $5.6M
Sub-account (Zero Balance Accounts (ZBAs) to main)
b) Bank B:
Main account (stand-alone) with an average balance of $7.2M
Property escrow account (stand-alone) with an average balance of $1.5M
1.1.2. Payroll is processed through Bank A and is bi-weekly (all Automated Clearing
House (ACH)) with an average of $750,000 per cycle.
1.1.3. Accounts Payable is processed through Bank A and is bi-weekly with an average
of $750,000 per cycle.
a) Positive pay and NACHA files are downloaded from the D365 and manually
uploaded to the current Bank's system.
1.1.4. TDA A maintains a stand-alone account with Bank B, with an average balance of
$103.5M.
1.1.5. TDA B maintains a stand-alone account with Bank A, with an average balance of
$32.3M.
1.1.6. TDA C maintains a stand-alone account with Bank B, with an average balance of
$7.1M.
1.2. Current Enterprise Resource Planning (ERP) System
GoTriangle is using Microsoft Dynamics 365 ("D365") as its ERP system. The system is
currently under evaluation, and depending on the results, the organization may transition to
a different platform.
1.3. Credit cards
GoTriangle has twenty-six (26) business credit cards used by employees for purchases.
1.4. Armored Services
GoTriangle maintains a contract for the provision of weekly armored transport services
from the three locations listed below to the designated local bank:

RFP No. 1012-26-029, Banking Services
Plaza: 4600 Emperor Blvd, Durham, 27703
BOMF: 5201 Nelson Rd, Morrisville, NC 27560
RUSBUS: 525 W. Hargett Street, Raleigh, NC 27603
2. Minimum Qualifications & Mandatory Requirements
The Financial Institution shall meet all minimum qualifications and mandatory requirements set
forth in this Section for the duration of the Contract.
2.1. Legal Authorization
The Financial Institution shall be duly authorized to conduct business in the State of North
Carolina and shall maintain such authorization throughout the term of the Contract.
2.2. Depository Status and Collateralization
The Financial Institution shall be an FDIC-insured institution and shall utilize the pooling
method of deposit collateralization in accordance with N.C.G.S. 159-31, or any successor
statute.
2.3. Regulatory Compliance - State Requirements
The Financial Institution shall comply with the North Carolina Local Government Budget
and Fiscal Control Act and all applicable provisions, including but not limited to:
2.3.1. 159-31 - Selection of depository; deposits to be secured
2.3.2. 159-32 - Daily deposits
2.3.3. 159-32.1 - Electronic payments
2.3.4. 159-33 - Semiannual reports on status of deposits and investments
2.4. Federal and Industry Compliance
The Financial Institution shall maintain full compliance with all applicable federal banking
regulations and industry standards, including but not limited to:
2.4.1. NACHA Operating Rules and Guidelines;
2.4.2. Federal Financial Institutions Examination Council (FFIEC) guidance;
2.4.3. Federal Reserve requirements; and

RFP No. 1012-26-029, Banking Services
2.4.4. Any other applicable regulatory, payment system, or supervisory standards
governing banking services.
2.5. Physical Presence Requirement
The Financial Institution shall maintain and operate a full-service branch location within
fifteen (15) miles of GoTriangle Plaza, located at 4600 Emperor Blvd, Durham, NC 27703,
for the duration of the Contract.
2.6. Fraud Prevention and Monitoring
The Financial Institution shall maintain robust fraud prevention and detection capabilities,
including but not limited to:
2.6.1. Multi-factor authentication for system access;
2.6.2. Real-time transaction monitoring and anomaly detection; and
2.6.3. Timely reporting and escalation of suspicious or potentially fraudulent activity.
2.7. Business Continuity and Disaster Recovery
The Financial Institution shall maintain a documented and tested Business Continuity and
Disaster Recovery (BC/DR) plan that includes defined recovery objectives (RTO and RPO)
for all critical banking services, systems, and online platforms.
2.8. Technology Platform Stability
The Financial Institution shall maintain current, fully supported, and secure technology
platforms throughout the term of the Contract and shall ensure that service capabilities do
not materially degrade over time.
2.9. Technology Roadmap and Innovation
The Financial Institution shall demonstrate and maintain a forward-looking technology
roadmap that includes ongoing system enhancements, innovation, and alignment with
evolving banking technologies, cybersecurity standards, and regulatory requirements.
2.10. Technology Currency and Upgrade Rights
The Financial Institution shall ensure that all platforms remain fully supported, patched,
and compliant with current security standards throughout the Contract term.
GoTriangle reserves the right to require reasonable technology upgrades, enhancements,
or modernization of services during the Contract term to ensure alignment with evolving

RFP No. 1012-26-029, Banking Services
industry standards, cybersecurity requirements, regulatory expectations, and
organizational needs, subject to mutual agreement and commercially reasonable terms.
3. Core Banking Services
The Financial Institution shall provide fully integrated core banking services that support
GoTriangle's operational, fiduciary, and reporting requirements in a secure, efficient, and auditable
manner.
3.1. Consolidate all financial operations to one bank with the following structure:
3.1.1. Transit Operations: Provide one primary operating account with a dedicated zero-
balance subaccount for accounts payable processing, structured to automatically
sweep and reconcile to the main operating account. A separate, stand-alone
property escrow account shall also be maintained.
3.1.2. TDA A: One stand-alone account
3.1.3. TDA B: One stand-alone account
3.1.4. TDA C: One stand-alone account
3.2. Account Configuration Flexibility
The Financial Institution shall support the establishment and maintenance of additional
accounts as reasonably requested by GoTriangle, including but not limited to:
3.2.1. Interest-bearing accounts; and
3.2.2. Zero-balance accounts supporting transit operations and TDA-related activities.
All accounts shall be structured to support operational efficiency, internal controls, and
reconciliation requirements.
3.3. Interest-Bearing Requirement
All eligible GoTriangle deposits shall be held in interest-bearing accounts unless otherwise
directed in writing by GoTriangle.
3.4. Transaction Processing and Cash Management Structure
The Financial Institution shall process, clear, and reconcile transactions using zero-
balance and/or controlled disbursement structures as required to support:
3.4.1. Efficient cash management;

RFP No. 1012-26-029, Banking Services
3.4.2. Fraud mitigation and transaction control; and
3.4.3. Accurate and timely reconciliation.
3.5. Systems Integration and Technology Compatibility
The Financial Institution shall provide modern, secure, and scalable integration
capabilities to support GoTriangle's enterprise financial systems, including Microsoft
Dynamics 365 (D365) and any future ERP or financial management platforms adopted
during the term of the Contract.
4. Deposits
The Financial Institution shall provide secure, timely, and fully auditable deposit processing
services in support of GoTriangle's cash management operations.
4.1. Deposit Processing and Availability
The Financial Institution shall:
4.1.1. Provide same-day credit for all deposits received by 2:00 PM Eastern Time on
business days;
4.1.2. Ensure deposits received after the cutoff are processed and credited no later than
the next business day.
4.2. Reporting and Visibility
The Financial Institution shall provide comprehensive deposit reporting, including branch
and cash vault activity reports, available for:
4.2.1. Secure online viewing;
4.2.2. Downloading; and
4.2.3. Electronic transmission.
All deposit activity reports shall be available no later than the next business day following
processing.
4.3. Deposit Materials
The Financial Institution shall provide, at no additional cost unless otherwise specified:
4.3.1. Pre-printed deposit slips in triplicate; and

RFP No. 1012-26-029, Banking Services
4.3.2. Endorsement stamps or equivalent deposit processing tools required for efficient
deposit handling.
4.4. Remote Deposit Capture (RDC)
The Financial Institution shall provide a secure Remote Deposit Capture (RDC) solution
that supports efficient, encrypted, and auditable deposit submission from GoTriangle-
designated locations, including all required hardware, software, training, and ongoing
support.
4.5. Data Security and Retention
The Financial Institution shall ensure the secure handling, transmission, and storage of all
deposit-related data and records. All deposit records shall be:
4.5.1. Maintained in a secure, access-controlled environment; and
4.5.2. Retained in an audit-ready format for a minimum of seven (7) years, or longer if
required by applicable law or GoTriangle policy.
5. Online Services
The Financial Institution shall provide a secure, fully supported online banking platform that
enables real-time access, transaction processing, reporting, and administrative control of
GoTriangle accounts.
5.1. System Availability
The online banking platform shall be available 24/7 availability, excluding scheduled
maintenance with prior notice, with industry-standard uptime, reliability, and performance
sufficient to support mission-critical financial operations.
5.2. Administrative Controls
The Financial Institution shall provide GoTriangle with full administrative control
functionality, including the ability to:
5.2.1. Establish, modify, and deactivate user accounts;
5.2.2. Assign and manage user roles and permissions;
5.2.3. Configure and enforce transaction limits and approval workflows.
5.2.4. Administrative audit logging of all user provisioning and permission changes.
5.3. Payment and Transaction Services