Core conversions

Switching core banking systems has long been done face to face, but the pandemic has driven the process into the digital arena. The change could be permanent.

Switching core banking systems has long been done face to face, but the coronavirus has driven the process into the digital arena. The change could be permanent.

FirstBank, the initial customer of the startup Finxact, sought a modern core system that jibes with fast payments and other new technologies.

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.

The New York bank was burned by a core replacement project that failed in 2011. This time it's using its PurePoint unit as a test lab and co-developing the software.

The State Bank Group and The Provident Bank are backing Neocova, which focuses on community banks.

Readers react to Regions Financial's plan to replace its core deposit system, a House bill meant to curb jobs moved overseas, a resurgence of consumer complaints against the credit bureaus and more.

Rakefet Russak-Aminoach, who will leave the company at the end of the month, has raised net profit and lowered costs by revamping its technology and culture.

The company says the upgrade will support future digital investments. It also said Tuesday that third-quarter profits climbed 8% but reported a sharp increase in criticized business loans.

Early in her career, Strybel took a leap of faith when she followed her mentor's guidance and took a role outside her wheelhouse. It paid off, and it's a lesson she shares with younger bankers as part of her mission to pay it forward.

The core-banking provider Temenos, based in Geneva, was drawn to Kony's strong U.S. presence, its software for banks and a special app it owns.

The Memphis-based developer of core processing software is now majority owned by three credit unions.

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.

Jeremy Balkin, head of innovation at HSBC Bank USA, shares how the bank is investing in retail innovation, including a $350 million core system.

The London firm lags the three largest U.S. vendors but bets its new open banking platform can win it more business.

Give Lindsay Lawrence a big job to do and she just might find a way to make it even bigger.

Alternative providers like courting new banks. De novos like the modern features many alternative providers offer upfront.

The 2020 budget would add the Consumer Financial Protection Bureau and FSOC to congressional appropriations, charge lenders for FHA upgrades and require universities to have skin in the game on student loans.

The merged bank would set up an innovation and technology center in Charlotte as part of its bid to compete better against the largest institutions and fintech startups.

The core-banking vendor won the investment and ringing endorsements from the trade group and several banks because its open system and cloud delivery could eventually challenge entrenched tech players.