Draft Master Banking Services

Broward County, Florida, is issuing a draft Request for Proposals under solicitation number GEN2131264P1 for Master Banking Services. This procurement seeks specialized financial and payment services across several categories, including Treasury, Merchant Card, Custodian, and Purchasing Card Services. The scope of work requires vendors to provide third-party custodian and safekeeping services in compliance with Florida Statute 218.415 and the Prudent Person Rule, while managing intraday overdrafts, convertible currencies, and secure transaction processing. The estimated contract value is approximately 157.8 million dollars, based on a five-year initial term with five optional one-year renewals. The selection process utilizes a best-value trade-off approach, evaluating proposals based on the qualifications of professional personnel, project approach, past performance with public entities, bank strength via credit ratings, and a functionality checklist with demonstrations. Pricing is weighted at 20 points and scored using a competitive ratio formula. Technical requirements are stringent, demanding compliance with PCI-DSS, SOC 2 Type II reports, AES-256 encryption, and TLS 1.2+ protocols. Proposals must be submitted electronically through the BPRO system, and vendors must provide certifications regarding their business size, non-collusion, and litigation history. Performance is expected to be based in Broward County, Florida.