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Newcomers Nymbus, Neocova, Finxact and Technisys and older competitors like Temenos, Infosys and Oracle are winning over community and regional banks by offering what some bankers describe as more flexible technology at fairer prices.February 3
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Many small banks remain skeptical of the payments network because it is owned and operated by big banks and they are waiting for the Federal Reserve to launch a rival service.October 29
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Alexander Lopatine, who founded Nymbus and has joined Mbanq, says alternative providers are gaining the confidence of more banks. However, questions remain about their staying power in the fight with traditional vendors.July 2
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The London firm lags the three largest U.S. vendors but bets its new open banking platform can win it more business.May 30
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Midwest BankCentre in St. Louis, with the help of a stable of fintechs, started Rising Bank to keep up with big banks in the hunt for deposits and millennial customers.February 25
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Both sides acknowledge where expectations haven't been met, and are feeling the same market pressures to adapt faster.December 28
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Small banks and credit unions say slow responses and outdated products from the establishment tech vendor can become a drag on their innovation efforts.August 30
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Vendors keep merging, and new ones keep forming. For banks, the change brings access to more options, but shorter relationships.July 31
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The Golden Contract Coalition, formed in mid-2016 to get community banks better deals with the “big three” core systems vendors, said banks need help with buying from fintech sellers as well.March 7
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The big four core vendors have had little incentive to innovate in recent years. But newer competition will force them to update their technology if they wish to survive the digital age.October 6
CEOCCG Catalyst
