Core systems

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.

Core conversions are widely considered to be cumbersome, but experts offered an array of tips on how to ease the process.

Credit union will switch core processors in October, becoming the 21st Share One client in California.

In addition to renewing its agreement for core processing, the $258 million-asset credit union also re-upped with other Synergent products.

Credit unions in Alabama and Louisiana announce conversion to first-ever core system designed specifically for CDFIs.

The Virginia-based credit union will also implement a variety of Symitar platforms for business inteligence, analytics and more.

The Bellingham, Wash.-based credit union is the ninth $1 billion-plus CU to switch to Fiserv's DNA platform in the past six months.

Several firms are betting they will be able to help banks create platforms that allow customers to design their banking services.

Banks have resisted the need to switch their core systems, but how long can a financial institution continue to operate on a foundation of dust?

Frank Sanchez, a former FIS executive, is launching a new cloud-based core banking system aimed at large community banks looking to ditch mainframes.

By banding together, banks can negotiate better terms with startups and other tech companies, FIS' chief operating officer says.