Banking and Financial Services

Louisville Metro Government (LMG) is seeking proposals for comprehensive banking and financial services through RFP260188, with a question period extending from March 16, 2026 at 8:30 AM EDT through March 25, 2026 at 5:00 PM EDT, and proposals due April 14, 2026 at 5:00 PM EDT via the Bonfire portal. The procurement encompasses five service groups: General Banking, Purchasing Card Program, Electronic Payables (cardless payment), Merchant Services, and Wholesale Lockbox services. Current operational volumes include 37 depository accounts with approximately $45 million in average monthly deposits and $36 million in check payments, $23 million in monthly payroll via ACH, approximately 500 active purchasing cards with $12 million in annual spend, 1,300 travel cards with $1.2 million in annual spend, $21 million in annual electronic payables transactions, 52 active merchant accounts processing approximately 23,375 monthly transactions, and wholesale lockbox operations processing approximately 290,000 tax forms and 206,000 payments annually. The contract term is five years with potential one-year renewal options, and pricing must remain firm for a minimum of six months after the proposal closing date, with first-year prices fixed and subsequent increases subject to written request and Metro Government approval. Proposers must achieve a minimum of 80 points on the Statement of Qualifications (100 points total), pass cybersecurity IT Risk Assessment or SOC2 audit requirements on a pass/fail basis, demonstrate institutional experience with similar-sized clients, and General Banking service providers must maintain a location within Louisville Jefferson County boundaries. Oral presentations are scheduled for May 26-28, 2026, with contract awards anticipated by July 1, 2026, and Service Group 1 implementation to begin as soon as practicable thereafter.

The procurement includes multiple preference designations available to qualifying vendors, including a 5% reduction for certified businesses paying minimum wage of at least $10.10 per hour and a 5% reduction for local vendors established in the Louisville Metropolitan Statistical Area for at least 12 consecutive months, along with Kentucky statutory preferences for correctional industries products and qualified nonprofit agencies. Proposers must complete Good Faith Effort documentation establishing participation goals of 15% for minority business enterprises (MBE), 5% for female business enterprises (FBE), and 0.5% for historically Black enterprises (HBE), and must comply with Louisville Metro Codified Ordinance Section 112.30 ban-the-box requirements prohibiting discriminatory hiring practices against persons with prior criminal convictions, with specific exceptions for positions involving cash handling exceeding $500, access to confidential information, unsupervised access to minors or vulnerable populations, and positions otherwise required by law to conduct background checks. All bidders must submit required documentation including completed GFE forms, Vendor Information Form, Acknowledgement & Preference Form, Ban the Box certification, current W-9, IT Risk Assessment questionnaire, qualifications documentation, and service-specific information through the Bonfire platform. While the RFP does not identify incumbent vendors or existing contractors, the specification document details current infrastructure and transaction volumes that selected vendors must support and integrate with existing Metro Government operations. The RFP does not specify explicit award values or budget ranges, though the scale of current operations (approximately $45 million in monthly deposits, $12 million in annual purchasing card spend, and $21 million in annual electronic payables transactions) indicates the substantial financial services volume requiring vendor proposals.