Core systems

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.

Before banks replace their core systems — which are largely homogeneous in the U.S. — they should work on ways to deliver convenient and engaging digital services for each of their channels.

Pennsylvania CU is switching to new vendor because of system’s open architecture.

Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.

Though they face an array of competitive threats — from digital currencies to peer-to-peer payment apps — the vast majority of community banks do not have a payments strategy, according to a recent survey.

With a new core system, Surety Bank plans to connect with customers outside of its geographic market.

New technological innovations in the banking sector are being rolled out constantly, but many credit unions may be ill-equipped to take advantage of them.

The two companies have created a robo-adviser with financial literacy tools to help people understand the basics of investing as they assemble their first portfolio.

Though the majority of executives interviewed indicated they were generally happy, several key themes related to the importance of open architecture and a strong motivation to stay the course emerged.

Executives are often loathe to change their core systems because of how painful the process is, but it could be preventing them from offering key products and services.

The announcement follows the completion of the merger of D+H and Misys by their owner, Vista Equity Partners.