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RFP: Core Banking System Modernization – Systems Integrator (SI) Interest

Apply By: 5/15/2026
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The Federal Home Loan Bank of Chicago (FHLBank Chicago) is planning a Core Banking System Modernization initiative and expects to issue a future Request for Proposal (RFP) for Systems Integration (SI) services.

This initial sourcing effort is focused on identifying qualified Systems Integrators that can serve as both implementation partners and strategic advisors in a highly regulated financial environment.

While the Bank’s broader modernization roadmap includes end-to-end core capabilities, the initial SI focus is expected to center on Demand Deposit Account (DDA) and customer transaction processing, including cash activity and related integrations. Additional capabilities and platforms are expected to be phased in over time.  

The Bank is also interested in understanding how Systems Integrators are responsibly applying artificial intelligence (AI) and intelligent automation to improve platform implementation, controls, data quality, resiliency, and ongoing operations in regulated financial environments.

We are interested in learning about Systems Integrators that can:

  • Directly support implementation of modern Demand Deposit Account (DDA)/business transaction platforms, including real‑time transaction posting and balance visibility
  • Design and implement API‑first, event‑driven architectures integrating with payment rails, core platforms, and downstream systems
  • Support cash activity and accounting impacts related to member lending and other Bank products, with an initial implementation focus on  customer transaction processing
  • Implement robust security, controls, auditability, and resiliency aligned with regulatory expectations for highly regulated financial institutions
  • Apply AI‑enabled capabilities (for example, automation, exception handling, data validation, testing acceleration, or operational insights) in a controlled, explainable, and regulator‑appropriate manner
  • Provide strong delivery governance, project/program management, and implementation methodologies suitable for large‑scale financial modernization initiatives
  • Effectively partner with platform vendors, internal Bank stakeholders, and regulators throughout implementation and stabilization phases

Interested vendors should complete the form below no later than 5:00 p.m. CT on May 15, 2026.

Vendor Interest Form

Section 0: Attestation & Disclaimer

Acknowledgment Required

By submitting this form, you acknowledge that your information will be reviewed by the Bank's Strategic Sourcing and Vendor Management team. Due to the high volume of interest, we may not be able to respond to every submission. Vendors whose capabilities align with current or future sourcing needs may be contacted for further engagement.

Acknowledgement Required

Section 1: Basic Information

Section 2: Business Profile

Section 3: Spend Category Alignment

Which category best describes you offerings?*

Select all that apply

Section 4: Risk & Compliance Posture

Do you hold any of the following certifications?

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Where are your operations based?

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Do you carry insurance coverage relevant to your services?

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Do you use subcontractors or third-party providers to deliver services?

If Yes, please describe

Section 5: Engagement Interest

What types of engagements are you interested in?
Are you responding to a specific sourcing opportunity?

If Yes, please specify which opportunity

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Do you offer volume-based discounts or preferred pricing for financial institutions?

Section 6: Supporting Materials

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