UC-Wide Comprehensive Banking Services Part 1 RFP 003958-Apr2026

REQUEST FOR PROPOSAL (RFP) EVENT AND PROCESS SUMMARY

SECTION I: ORGANIZATIONAL CONTEXT

1.1 University of California

The University of California (UC), one of the largest and most acclaimed institutions of higher learning in the world, is dedicated to academic excellence in teaching, research, health care and public service. Since the opening of its first campus in 1868, the University of California system has been committed to responsible stewardship of its resources, education and innovation for the public good. The UC has approximately 285,000 undergraduate and graduate students, a workforce of 216,000, and encompasses ten campuses, six academic health centers, four law schools, a statewide Division of Agriculture and Natural Resources and is also involved in the operation and management of three national laboratories for the U.S. Department of Energy (DOE), as further detailed herein:

Any awarded Agreement(s) will be available to all current and future locations of the University of California and its Affiliates.

UC Procurement Services

UC Procurement Services is the centralized procurement/supply chain hub for the University of California. UC Procurement Services develops and implements UC systemwide supply chain strategies and policies that leverage UC's purchasing power to optimize UC systemwide spend.

UC Procurement Services coordinates with the entire UC system to establish UC systemwide agreements for services that are commonly purchased at UC locations. UC systemwide agreements are created through a competitive RFP and award process that considers the business requirements and policies of the University, along with the quality and price of and services.

UC Sustainable Practices Policy

The University of California, as part of its commitment to sustainability and in alignment with its mission of teaching, research, and public service, will maximize its procurement of sustainable products and services, within the constraints of research needs and budgetary requirements and in compliance with all applicable rules, regulations, and laws. The UC values the health and wellbeing of its students, staff, faculty, visitors, and suppliers, and seeks to provide healthy and accessible conditions for the communities it serves, as well as those throughout its supply chain. As such, goods, services, and supply chain impacts on health and well-being will be considered fundamental factors when making procurement decisions. UC participates in SABRC and Green Spend Reporting and includes these considerations in the selection of suppliers. Where functional alternatives to harmful products and/or services exist, they will be strongly preferred.

In addition to environmental considerations, UC is committed to Economic and Community Impact. The University has a vested interest in supporting the innovation, sustainability, and growth of small businesses and forward-thinking business models. The inclusion of qualified Small and local businesses fosters healthy competition, extends opportunities, and enhances economic resilience. Large businesses are encouraged to partner with certified Small businesses for Co-Tier 1 and Tier 2 opportunities.

UC may consider the following certifications in competitive environments:

Green Spend Reporting

UC Green Spend Reporting is a mandatory process for suppliers and campus departments to track environmentally responsible procurement. If awarded a contract, Suppliers must submit data on products outlined in UC Sustainable Procurement Guidelines, including, but not limited to, electronics, furniture, and cleaning supplies.

SABRC Reporting

The University of California participates in the State Agency Buy Recycled Campaign (SABRC) managed by CalRecycle and the . SABRC aims to stimulate markets for recycled materials, reduce landfill waste, and support a circular economy. Pursuant to California Public Contract Code, Sec. 12200-12217, UC is required to purchase products with Post-Consumer Recycled Content (PCRC) with thresholds set for each category and report SABRC Compliant Dollars.

SECTION II: Purpose & Objectives of the RFP

2.1 RFP Objectives

The UC invites qualified and responsible Banks to prepare and submit proposals to this Request for Proposal (RFP) for comprehensive Banking Services (together, "the Services"), all in accordance with Federal and State of California laws and the requirements of UC as further detailed in this RFP.

The overall objective of this RFP is to establish a modern, efficient, and forward-looking banking structure that supports both the current and future needs of the UC System. This process involves identifying and engaging banking partners whose capabilities align with UC's strategic priorities and enhance the operational effectiveness across the organization.

Through this Request for Proposals (RFP), the University of California (UC) seeks to competitively award agreements to one or more qualified banking institutions to provide the services described herein. Awards, if any, will be made in accordance with applicable UC procurement policies, including BUS-43, based on best value and the evaluation criteria set forth in this RFP. The resulting agreement(s) will define the scope of services, performance standards, and applicable terms and conditions. Qualified banks are invited to submit proposals in response to this RFP to support UC's operational needs in a manner that promotes cost effectiveness, quality, and service excellence.

Historically, UC systemwide annual spend for banking services has been approximately $15M each year for the last two (2) fiscal years.

There are no minimum or maximum guarantees in this RFP. However, based on the total UC historical spend, the Bank shall provide the best pricing for this RFP in Services.

2.2 Issuing Office and Communications Regarding the RFP

This RFP, and any subsequent addenda to it, is being issued by UC Procurement Services on behalf of the University of California. UC Procurement Services is the sole point of contact regarding all procurement and contractual matters relating to the requirements described in this RFP. UC Procurement Services is also the only office authorized to change, modify, clarify, etc., the specifications, terms, and conditions of this RFP and any Agreements(s) awarded as a result of this RFP.

Banks are not permitted to communicate with any UC employee regarding this solicitation during the period between the RFP issue date and the announcement of awards, unless authorized by UC Procurement Services sole point of contact named below.

All communications, including submission of RFP response and any requests for clarification concerning this RFP, must be submitted via the section of this RFP within CalUsource, the University of California Bank registration and sourcing web system as further detailed herein.

If a Bank is found to violate this provision, UC reserves the right to disqualify that Bank from further consideration.

SECTION III: SCOPE OF SERVICES

3.1 General Scope

The RFP will evaluate four core areas to enable UC to select Banks that best align with its strategic objectives:

Bank Profile and Capability to Meet Business Requirements UC seeks to partner with industry-leading Banks. As individual locations will have discretion in selecting Banks for each service, it is essential that respondents demonstrate substantial operational strength and comprehensive service capabilities across all areas covered by the RFP.

Technical Requirements and Capabilities Banks' current technical capabilities, as well as their forward-looking technology roadmaps, are critical to ensuring UC's present and future needs are effectively supported.

Sustainability UC is committed to sustainability and aims to collaborate with Banks that maintain strong, demonstrable sustainable practices. Sustainability will be considered a fundamental factor in procurement decisions.

Pricing Structure Delivering competitive pricing and overall value for banking services is essential to UC's Bank selection process.

UC also recognizes that information technologies and services are rapidly evolving, and that Banks may be testing new technologies or developing new services that are not yet available to the public at the time of RFP response. Once these technologies are generally available, UC desires to have the ability to amend the Agreements awarded under this RFP to include these new technologies or service offerings at UC's sole and absolute discretion.

3.2 Agreement Term

The term of the Agreement shall commence upon execution of the Agreement and will be for a period of 4 years (the "Initial Term") with 2 (two) optional (3 (three) year extensions (the "Renewal Terms"), at the sole discretion of the UC, for a total of 10 years. Category discounts shall remain firm for the Initial Term and all Renewal Terms of any Agreement which may be awarded pursuant to this RFP. All pricing must be verifiable and auditable from the date of the contract award.

SECTION IV: RFP REQUIREMENTS & PROPOSAL SUBMITTAL INSTRUCTIONS

4.1 Timeline

Banks interested in submitting proposals in response to this RFP should do so according to the schedule in the Timelines section in the CalUsource portal, tabulated below. A Bank may be disqualified for failing to adhere to the dates and times for performance specified in the portal. All times are Pacific Time Zone and dates are subject to change at the sole discretion of UC.

Phase 1

Phase 2

The UC reserves the right to modify the above schedule of events in the Timelines section for this RFP in the CalUsource portal and make changes to other provisions in this RFP.

4.2 Intent to Respond to RFP

Banks are required to complete two separate actions by April 29th.

Submit a confirmation of intent to participate, and

Confirm intent by attaching a document to the portal

Submit a complete RFP response

4.3 Addenda to the RFP

Any changes, additions, or deletions to this RFP will be in the form of written addenda issued by UC via the CalUsource portal. Any addenda to this RFP will be distributed to all participating Banks via the CalUsource portal. The UC will not be responsible for failure of any prospective Bank to receive such Addenda. All Addenda will become part of the RFP.

4.4. Method of Submission

Proposals in response to this RFP must be submitted online using CalUsource no later than the time and due date stated in the Timelines section in CalUsource portal. No mailed, telephone, emailed, facsimiled, or late proposals will be considered.

Responses will take time to enter into the CalUsource portal. It is highly recommended that Banks review the at for guidance on how to navigate and use CalUsource. Bank's inability to enter their response into the CalUsource portal will not be accepted as a reason for a late response.

For questions about CalUsource, please contact UC Procurement Support at . For technical issues, contact GEP Support: 1-732-428-1578 or . Please identify yourself as registering in the University of California network.

4.6 Proposal Submission Process

Banks must provide a complete, straightforward, concise response to all Guidelines, Questionnaires, Price Sheets, and any other information requested in the RFP. Banks warrant that all information provided is true and accurate. The submission of false, inaccurate, or otherwise misleading information may be grounds for disqualification from the RFP process, as well as jeopardize Bank's eligibility to participate in future UC business.

4.6.1 Guidelines

This is a prerequisite section for accessing the complete RFP package. Banks must read and follow the instructions for each of the following Guidelines documents:

RFP Event and Process Summary (this document)

Purchasing Agreement

UC Terms and Conditions of Purchase, dated 4/1/2025

UC Appendix for Data Security, dated 8/20/2021

Bidders Guide

4.6.2 Questionnaires

This RFP Part 1 contains:

Pre-selection Banking RFP Questionnaire

Additional questionnaires will be issued to banks after the pre-selection phase is complete. Banks are required to respond to all questionnaires listed below. Your responses will be evaluated and graded.

Supplier Information

Sustainability

4.6.3 Proforma

This section includes the pricing sheets. Banks are required to follow the instructions for pricing submission within the proforma Attachment.

4.6.4 Attachments

Attachments will not be accepted unless requested by UC. For Questions requiring attachments requested by UC, please label the attachments with your company name so evaluators can easily find the referenced attachment. An attachment naming convention example is provided below:

Questionnaire Title_ Q#_Supplier

E.g. "Bank Information_Q#3_Bob Bank"

4.7 Superfluous Materials

Bank must not provide superfluous materials such as marketing materials or website links in response to, or in lieu of, specific responses to the questions herein, and may be disqualified for providing superfluous materials.

4.8 Collusion

Collusion among Banks is not allowed. If there is proof of collusion among Banks, all proposals involved in the collusive action will be rejected.

4.9 Late Proposals

Late proposals will not be accepted unless it is UC's determination that UC's technical issues or other similar issues are responsible for the delay or failure.

4.10 Bank Questions

Each Bank is expected to exercise their best professional independent judgment in analyzing the requirements of this RFP to determine whether additional clarification is necessary or desirable before responding. If there are discrepancies in, omissions to, or questions about the information provided in the RFP or by any other source, a request must be submitted via the CalUsource "Discussion Forum" by the stated deadline. Responses to individual Bank questions will be made available via the CalUsource "Discussion Forum" to all Banks that confirm their intent to participate in this RFP.

4.11 Proposal Preparation Costs

All costs incurred in the preparation and submission of the proposals and related documentation, including Bank's presentations, interviews, demonstrations, and provision of the Services to UC for independent testing purposes, will be borne by the Bank.

4.12 Proposal Validity Period

All Proposals shall remain available for UC acceptance for a minimum of one-hundred and twenty (120) days following the RFP closing date.

4.13 Errors and Omissions

If the Bank discovers any discrepancy, error, or omission in this RFP or in any of the attached documents, UC shall be notified immediately, and a clarification/notification will be issued to all Banks who have access to this RFP. No Bank will be entitled to additional compensation for any error or discrepancy that appears in the RFP where UC was not notified and a response provided. All Addendums of Clarification will be distributed to the Proposal Participants via the CalUsource portal.

4.14 General Conditions

Please note the following requirements regarding this RFP:

4.14.1 Information and data distributed from UC to participating Banks is to be used by the Bank solely for the purposes of responding to this RFP and cannot be used for any other purpose.

4.14.2 The initial proposals will be considered binding. Financial negotiations will continue throughout the evaluation process; however, Banks' original financial proposals are binding.

4.14.3 Additional information may be solicited and accepted during the evaluation process.

Modifications or corrections of oversights to the original proposal may be allowed at UC's sole discretion; however, UC cannot guarantee that revised proposal elements will be accepted.

4.14.4 Bank must operate within the guidelines of all federal, state, and local labor laws and codes. Bank must possess all trade, professional or business licenses as may be required by the work contemplated by this RFP.

Section V: Proposal Evaluation and Agreement Award

5.1 Most Responsive and Responsible Bank

Any Agreements(s) resulting from this RFP will be awarded to the most responsive and responsible Bank(s) whose proposal, in UC's opinion, offers the greatest benefit to UC when considering the total value, including, but not limited to, the quality of the Services and total cost (including prompt payment discounts, available volume discounts, and other elements of value to UC). A responsive and responsible Bank is one whose offer satisfies the requirements of this RFP, is considered capable of performing, and is otherwise eligible and qualified to perform in the manner stated in this RFP.

5.2 Best Value

Proposals will be evaluated by UC using a Best Value evaluation methodology which is the most advantageous balance of price, quality, service, performance and other elements as defined by the University, achieved through methods in accordance with Public Contract Code Section 10507.8 and determined by the following objective performance criteria that may include technical capabilities, financial capabilities, past experience, quality control, price, life-cycle costs, sustainable offerings and practices, Bank diversity. The UC Evaluation team will examine each proposal to determine, through the application of uniform criteria, the ability of each Bank to meet UC's specifications. For the purposes of this RFP, Bank responses will be evaluated using the following criteria:

Multi Phased Evaluation and Scoring Methodology

This solicitation will be conducted using a multi phased Best Value evaluation process in accordance with Public Contract Code Section 10507.8 and University of California BUS 43 procurement standards.

The University will evaluate proposals using objective performance criteria that collectively total one hundred percent of the overall evaluation score as outlined in Section 5.10.

5.3 Investigations

The UC may request additional information either from the Bank or others, utilize site visits, Bank presentations, interviews, sandbox testing, and make any other investigations it deems necessary to verify the Bank's qualifications and ability to successfully meet the requirements of this RFP. The UC also reserves the right to obtain Dun & Bradstreet reports or similar independent reports for further indications of the Bank's ability.

5.4 Right to Reject

The UC reserves the right to reject any proposal in which the information submitted fails to satisfy UC and/or the Bank is unable to provide the information or documentation within the period requested. Any submitted proposal that fails to comply with the requirements of this RFP will be considered non-responsive and will not be evaluated or eligible for award of any subsequent contract.

5.5 Waiver

UC may waive irregularities in a proposal if UC judges that such action will not negate fair competition and will permit proper comparative evaluation of Proposals submitted. The UC's waiver of an immaterial deviation or defect shall in no way modify the RFP documents or excuse the Bank from full compliance with the RFP specifications in the event the Agreement is awarded to that Bank.

5.6 Right to Award

The UC reserves the right to award an Agreement to Bank(s) if deemed to be in the best interests of UC, solely at the discretion of UC. The UC reserves the right to accept or reject any or all proposals, make more than one award, split the award or make no award.

5.7 Agreement Award

Any contract awarded pursuant to this RFP will include the requirements and specifications in the RFP, as well as the contents of the proposal response as accepted by UC and will be in writing.

5.8 Right to Interview

The UC reserves the right to conduct interviews with some or all of the Banks at any point during the evaluation process. However, UC may determine that interviews are not necessary. In the event interviews are conducted, information provided during the interview process shall be taken into consideration when evaluating the response.

5.9 Right to Negotiate and Withdraw

The UC's selection may be made based on initial proposals or UC may elect to negotiate with Banks selected as finalists. The UC reserves the right to negotiate the modification of proposed prices and/or terms and conditions with the Bank offering the best value to UC prior to the execution of an Agreement. Additionally, UC reserves the right to withdraw this RFP at any time.

5.10 Multi-Phased Initiative

Multi-Part RFP Process

This RFP process will consist of the following parts and phases. Any expenses incurred by the Supplier in connection with participation in the RFP process shall not be covered by the UC.

5.10.1 Part 1: Information Gathering

This initial Part 1 of the RFP process will gather relevant information from potential Banks to better understand their capabilities and offerings related to the Services as outlined herein. This Part 1 is designed to help the UC to identify qualified Banks that align with UC's requirements and objectives. Banks will complete and submit Questionnaire 1 "UC Pre-Selection Banking RFP Questionnaire" . Following submission, Banks will be evaluated based on section 5.2 above, and shortlisted Suppliers may be selected to proceed to Part 2 of the RFP process. Participation in Part 1 is a prerequisite for any invitation to any subsequent parts of this multi-part RFP process.

5.10.2 Part 2 - Selective RFP by Invitation Only

a) Phase I: Capability Assessment

Part 2, Phase 1 will delve deeper into the technical aspects of the shortlisted Bank's offerings and solutions. Shortlisted Banks from Part 1 will be provided with additional instructions and questions to be published by the UC pursuant to RFP Part 2, in which shortlisted Banks will be asked more detailed technical questions and additional requirements may be added by the UC.

Banks are expected to provide comprehensive responses, including but not limited to technical specifications, architecture details, and relevant implementation strategies.

Part 2, Phase I responses will be evaluated based on Best Value criteria that will be outlined when the UC publishes the RFP for Part 2 of this multi-part RFP process. Based on that evaluation, at the sole discretion of the UC, shortlisted Banks may be selected to proceed to Part 2, Phase II.

b) Part 2, Phase II: Demonstrations, Interviews of Shortlisted Banks Solutions, Proof of Concept (at UC discretion)

Shortlisted Banks from Part 2, Phase I may be invited to provide a demonstration, proof of concept, and or interviews regarding their proposed solution(s), showcasing their solution's offerings and capabilities. Banks may be required to address specific use case and scenarios relevant to UC's requirements.

Demonstrations, interviews, or proof of concepts will be scheduled individually with each shortlisted Bank to discuss and clarify their proposal. Details regarding demonstrations, interviews, and/or proof of concept requirements will be provided by the UC upon notification of shortlisting for Part 2, Phase II.

The demonstrations and/or interviews will be evaluated based on the Best Value criteria published in the RFP for Part 2 of this multi-part RFP process for alignment with UC's needs, ease of use, and overall effectiveness.

c) Part 2, Phase III: Selection of Finalists

Finalists will be selected based on the Best Value criteria published in the RFP for Part 2 of this multi-part RFP process. UC may enter into negotiations with one or more of the finalist Bank(s).

5.11 Pricing and Incentives

5.11.1 Pricing for Services is being requested within two areas of the RFP, "Bank Information, Technical, Pricing Questionnaire" and Bank Pricing Proforma Attachment to this RFP. Both the Questionnaire and Proforma Attachment are to be completed and uploaded within the Attachments Section. These questionnaires will be issued after Part 1 prerequisites are met.

5.11.2 Pricing/Discount Structures resulting from this RFP process shall remain firm for the initial period of any Agreement awarded pursuant to this RFP. Banks are encouraged to provide details of and propose additional discounts for volume orders, special offers, partnerships, total annual spend, etc.

5.12 No Mandatory Use

Bank is advised that there is no mandatory use policy at UC for Agreements. Thus, UC does not guarantee any specific amount of business forthcoming from this RFP. A winning Bank may still see competition at any given UC location for any given Service. However, by providing outstanding prices, service, and the best overall total cost and quality to UC systemwide, the winning Bank is expected to garner a large percentage of total available UC business.

5.13 Exclusions

Bank is advised that some and/or services may be subject to pre-existing Agreements with other Banks or may be outside the scope of this RFP and may not be included in any awarded contract or may be included on a limited basis.

5.14 Offshoring of Services

UC will not, as part of a contract that will displace UC employees, pay training workers located in foreign countries or who plan to relocate to a foreign country. Please note that the condition of awarding a contract will be that Bank agrees to the warranties in Article 6 of UC's Terms & Conditions of Purchase. Additionally, Bank must do one of the following in its proposal:

5.14.1 Certify under penalty of perjury that the services will be performed solely with workers within the United States, including any services that Bank would provide using a sub-Bank; or

5.14.2 Describe in its proposal any parts of the services that will be performed by workers outside of the United States.

5.15 Disclosure of Records/Confidentiality of Information

5.15.1 All Proposal responses and related documents, submitted to UC in response to this RFP will become the exclusive property of UC upon receipt and will not be returned.

5.15.2 Proposal response(s), which are incorporated into any resulting Agreement(s) with the University of California, may be subject to the State of California Public Records Act (CA State Government Code 6250, et. seq.). This Request for Proposal, together with copies of all documents pertaining to any award, if issued, will be kept for a period of one (1) year from the date of contract expiration or termination and made part of a file or record which shall be open to public inspection. Certain private, trade secret or confidential information may be considered exempt from the California Public Records Act. Any trade secret or company confidential information submitted as a part of this proposal shall be clearly marked "Trade Secret Information" or "Confidential Information."

5.15.3 Should a request be made of the University of California for access to information designated confidential or trade secret by the Bank, and UC denies the request based on that designation, the Bank may be responsible for all legal costs necessary to defend such action if the denial is challenged in a court of law.

5.16 Specifications and Exceptions

Unless documented as an Exception, the submission of a proposal will confirm Bank's acceptance of all RFP specifications. In documenting an Exception to the RFP specifications, Bank must provide a detailed itemization and explanation for each deviation from the RFP specifications, clearly describing any alternate and/or services that could be provided to satisfy those requirements. Bank should list any items it wishes to exclude from its standard catalog. Absence of an itemization and explanation will mean that Bank is willing and able to meet all RFP specifications. If Bank does not document an Exception regarding the RFP specifications and it is found that and/or services delivered do not meet the RFP specifications, Bank will be required to correct same at Bank's expense. Bank is cautioned that if UC does not approve Bank's request for exception to the RFP specifications, and Bank does not withdraw the request, the proposal may be deemed non-responsive and ineligible for award.