Core systems

The European core systems vendor has been making inroads into the U.S. market in recent years.

The core processing CUSO had a "record year" in fiscal 2017.

Capital One became the latest bank to feel customers' online wrath last week after reports that some customers were being charged twice for debit card activity. But it was hardly alone.

Customers saw transactions recorded multiple times and experienced drained accounts and long hold times. It’s a warning to all financial institutions as they head further into mobile-only banking — glitches are more visible and painful and need to be addressed faster than ever.

Banks' embrace of open-source development could eventually go beyond creating tools and apps — to something far more radical.

From the identity of bankers in the 21st century to the regulatory turmoil in Washington to the huge impact of technology on the industry, readers expressed an array of strong opinions about what happened in 2017.

In a long-standing tradition, Credit Union Journal asked IT professionals to share the new things they’d like to have to help them have a successful new year. From data centers to more staff, their technology wish lists will keep Santa plenty busy.

After two century-old community institutions merged in 2010, they never suspected it would take seven years before their operating systems got along.

The Communal CU says it will automate processes, use data in strategic decisions.

Ventura, Calif.-based CU adding online, mobile banking.

In mid-2015, several thousand banks registered for dot-bank domains. More than two years later, only a few hundred have converted.

Community banks are spending on technology to expand without having to build new branches.

New York credit union is converting to the Symitar Episys core processing system, as well as a suite of related solutions from Synergent.

Nutmeg State Financial Credit Union recognized converting its core was just the beginning of creating a digital-first strategy.

Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant.

Jennifer Smith is overseeing a core conversion that is the largest tech project in Zions' history.

New clients will use vendor’s KeyStone core processing system.

The conversion, scheduled for Q1 2018, will allow the CUSO to expand into the Tampa area.

Both credit unions are located in the upper Midwest near Lake Superior.

Mendo Lake CU, Community First CU will join core systems this weekend.