Core systems

Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.

The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.

Earnings hit could be avoided if BB&T and SunTrust complete deal by 2020; Fannie and Freddie will likely exit conservatorship by 2024, Calabria says; tired of paying 'ransom' to core vendors, two small banks fund new one; and more from this week's most-read stories.

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.

Outages last week at Chime and Varo Money have executives on the defensive.

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.

Community banks and credit unions are eager to innovate, but technology upgrades must be done first, says Bruce Lowthers, FIS banking solutions president.

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.

Questioning whether core-banking technology is nearing a 'big shake-up'; Capital One keeps closing branches, even as rivals open them; FASB chair defends CECL, saying 'the benefits justify the cost'; and more from this week's most-read stories.

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.

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

Aging tech systems have become a "pain point" in financial services, and VC firms have backed newcomers trying to push aside traditional vendors and win over banks and credit unions.

The tech company denied allegations from Bessemer System Federal Credit Union regarding security issues and other problems with Fiserv's services.

Failure to recognize the importance of artificial intelligence, mobile banking and other evolving technology would be a serious misstep.

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