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Category: Digital Transformation


Modernizing ACH: How Financial Institutions Gain Efficiency, Control, and Flexibility Over a Legacy Payment System
August 16, 2023

Modernizing ACH: How Financial Institutions Gain Efficiency, Control, and Flexibility Over a Legacy Payment System

in Banking Core Integration , IT Management , Payment Management

Automated Clearing House (ACH) is a payment standard developed by Nacha, and The Federal Reserve and The Clearing House Electronic Payments Network (TCH EPN) operate compliant ACH networks in the US. Often bundled in large batch files, ACH is utilized in commonplace financial transactions in the US, such as bill payments and paychecks, due to […]

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The Death of Best of Suite in Community Financial Institutions
July 13, 2023

The Death of Best of Suite in Community Financial Institutions

in Banking Core Integration , Fintech , IT Management

How often do you ask yourself, “Why can’t our FI keep pace with the product offerings of our larger competitors?” Multiple factors are at play when it comes to speed to market for new products. However, the “elephant in the room” for the majority of community FIs is the dependency on one important vendor… The […]

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Every Financial Institution Needs This Indispensable Role – 5 Super Powers of the Product Manager
May 31, 2023

Every Financial Institution Needs This Indispensable Role – 5 Super Powers of the Product Manager

in Fintech , IT Management

In the increasingly competitive banking landscape, there lies an often overlooked yet vital role that directly impacts the success of every product and service a financial institution (FI) offers – the product manager. Lack of ownership, indecisiveness, poor communication, reactive mentality, and ineffective technology management can be common in the financial services industry, leading to […]

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Unlocking AI’s Potential in Banking: Mitigating Security, Compliance, and Reputational Risks for Financial Institutions
May 16, 2023

Unlocking AI’s Potential in Banking: Mitigating Security, Compliance, and Reputational Risks for Financial Institutions

in Fintech , IT Management , Tips and Tricks

With the booming popularity of OpenAI’s ChatGPT, Artificial Intelligence (AI) is once again the hottest topic in technology. As the widespread adoption of AI in everyday practical applications becomes more of a reality, the banking industry grows more eager to deploy AI-based solutions. The possibilities range from smart chatbots that handle customer inquiries with high […]

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6 Banking Integration Lessons Learned One Month After SVB Collapse
April 12, 2023

6 Banking Integration Lessons Learned One Month After SVB Collapse

in Banking Core Integration , Digital Transformation , Fintech

It all started on a Thursday with a phone call from our CEO, David: “Are you on top of this SVB thing?” By the end of the weekend, Silicon Valley Bank (SVB), one of the most storied banks in the technology industry, had collapsed, the FDIC had taken control, and our team had been all-hands-on-deck […]

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Open and Reusable Core API: Building a Universal Data Model for Fintech Integration to the Core
April 4, 2023

Open and Reusable Core API: Building a Universal Data Model for Fintech Integration to the Core

in API Management , Banking Core Integration , Fintech

Integrating with the core is hard. In general, the challenges involve legacy systems, data security concerns, regulatory compliance requirements, system complexity, and vendor dependencies. The difficulty is further complicated because each banking core possesses integration nuances specific to its technology. Imagine the impact on innovation in financial services if those subtleties were addressed through standardization. […]

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American Bankers Association: Middleware Helps Banks Minimize Dependencies and Unleash Innovation
March 9, 2023

American Bankers Association: Middleware Helps Banks Minimize Dependencies and Unleash Innovation

in API Management , Banking Core Integration , Fintech

The American Bankers Association (ABA) released its 2022 Exploring Banking Middleware Solutions report detailing the strategic benefits of implementing middleware for banks. Community banks’ potential to innovate directly relates to their connection with the core banking vendor. However, according to ABA, nearly 42% of banks surveyed are dissatisfied with their core provider. As a result, […]

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Community FIs Need to go Beyond Banking Core Integration to “CICaaS”
February 9, 2023

Community FIs Need to go Beyond Banking Core Integration to “CICaaS”

in Banking Core Integration , Fintech

Banks and credit unions require more than just integration between their banking core and other systems. Many community financial institutions (FIs) are looking for a connectivity solution that makes integration easy and repeatable, freeing them from the constraints of their core vendor. Once this solution is in place, community FIs often wish to build upon […]

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Is Your Financial Institution Paying Twice to Access the Data It Already Owns?
January 25, 2023

Is Your Financial Institution Paying Twice to Access the Data It Already Owns?

in Banking Core Integration , Digital Transformation , Fintech , IT Management

Although financial institutions (FIs) already know they must modernize infrastructure to survive and compete, many resist launching transformation initiatives. Fear of the new and unknown is a primary reason that FI decision-makers find themselves stuck in “traditional” methods. Financial technology and open source can be scary concepts until you thoroughly understand them. An API-led, open […]

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