How many bids came to the University of North Dakota during the RFI and RFP process?
At the direction of the Vice President for Finance and Operations (VPFO), a group of Finance and Operations staff began meeting in November 2006 with various financial institutions to explore a banking relationship (RFI or Request for Information). The group interviewed five vendors. The purpose of the interviews was to gather information. The VPFO made a decision to appoint a smaller group to prepare a request for proposal (RFP) for a sponsored banking relationship. The group was also charged with the evaluation of the RFP responses and to make a recommendation to the VPFO. UND mailed RFP’s to 47 vendors, 8 vendors responded with proposals. Of the 8 vendors, the committee selected to bring 3 vendors on campus for presentations. Higher One was one of the three vendors. Of the 8 responding vendors, none offered a product similar to Higher One.
