A growing number of community banks and credit unions are outsourcing their mobile banking capabilities in the search for cost efficiencies and competitive advantages. But outsourcing mobile isn't good for everyone.
In order to find the right technology -- and partners -- banks' requests for proposals must spur an open dialogue with potential vendors about their culture, strategy and future road map. Here are three approaches that work.
Frank Bisignano, who also led JPMorgan's mortgage banking business in the wake of the mortgage crisis, will lead payments management company First Data at a time of great change in the payments industry.
By CeCe Morken, Intuit Financial Services | April 21, 2013
The greater flexibility provided by API technology means banks can quickly provide the kind of product customization and experience customers expect. This depends on open infrastructures and data feeds.
Although legacy systems replacement is a major undertaking for any bank, the global banking industry could regain a significant proportion of the profitability lost during the financial crisis by adopting modern core systems.
As the memory of the financial crisis begins to wane and firms’ new, improved risk management practices become operational, worldwide IT risk spending is slowing at a faster rate than previously expected.
Marcia Wakeman, partner, and Chia-Hsin Chung, managing principal, of financial services IT consultancy Capco discuss trends they are seeing in core systems replacement efforts and the best practices to consider when undertaking a core transformation effort.
By Harichandan Arakali and Tony Munroe, Reuters | March 24, 2013
outsourcers are promoting "mini CEOs" capable of running
businesses on their own, while trimming down on the hordes of
entry-level computer coders they normally hire as they try to
squeeze more profits out of their staff.