Demospeak: “We are an inherently open system, and we see no issues with our system running in your configuration.“
Translation: “We don’t actually have any live installations of what we’re showing here, and we’re hoping like hell you’ll be our first.”
It is amazing to me how often we talk to banks that have begun installation of a system and suddenly find out that:
We often hear the lament that the vendor didn’t disclose this. Probably… but the banks also didn’t ask.
I am a huge fan of questions regarding number of installations and peer users. This isn’t any inherent “follow the pack” mentality at work here. It’s simply recognition that if someone of your bank’s size and profile has the system running in a live environment, they have gone through pain and bleeding you won’t have to duplicate – at least as much.
Here’s our “onion strip” tip for the week. Ask every vendor in every demo how many of your peers have installed and are running exactly the same solution they are proposing. Installed and running means:
A proven “peer user” is one who:
Any vendor who has clients that meet these criteria will be happy to discuss them with you, and rightfully so. Those who don’t should be treated warily.