Insights from the 2022 Federal Reserve/CSBS survey of community banks.
Browsing: Core processing
Christian Ruppe co-founded a fintech firm when he was in college — and later he…
Banks are considering core platform changes as they face increasing technology-driven risks
Enriched data from ISO 20022 is expected to spur new payment-related products and more insightful analysis into customer payment patterns
As banks approach two key asset thresholds—$500 million and especially $1 billion — they must begin preparing for new risks and regulatory expectations. Many of them play out in the audit committee.
The CFPB is examining the effects of a concentrated core platform marketplace on consumers and banks, CFPB Director Rohit Chopra said today. Speaking to the bureau’s community bank and credit union advisory councils, Chopra said he is “concerned that the core services providers that small players rely on have too much power in the system.”
At a community bank with limited staff and resources, tech transformation is all about setting priorities.
During the CoreConnection session at ABA’s Conference for Community Bankers, core provider CEOs sounded notes that will sound familiar to those following the work of ABA’s Core Platforms Committee: open APIs, access to data and flexible and transparent contracts.
APIs: Enabling the Hybrid Banking Experience to Boost Customer Acquisition and Upgrade Internal Efficiency
“They give you the ability to enter different markets or partner with different companies, providing a funnel for new customers.”