Core systems

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.

The FIS-Worldpay and Fiserv-First Data combos do provide notable scale, but the even-larger companies still won't produce the same pace of growth that younger nimble fintechs enjoy, says Eric Grover, a principal at Intrepid Ventures.

The companies could bring something new, such as merchant acquiring to community banks, but their merger could also cause anxiety about giant vendors.

The bank says it has restored access, but it hasn’t explained how a fire-suppression system at one facility could cause a nationwide outage across all of its channels, or how its system as a whole could have been left so vulnerable to the incident.

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.

Customers reported being unable to access online banking, mobile banking or their debit cards.

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.

The large core banking software vendors are already criticized as large and slow-moving. Consolidations like these are only likely to make them more so.

The large core banking software vendors are already criticized as large and slow-moving. Consolidations like these are only likely to make them more so.