By Shelly Childers, Lapeer County Bank & Trust | August 29, 2013
In the fourth article in our series on core modernization efforts, we hear from a community bank that has transformed its back office by outsourcing its core platform without losing control over vital functions.
Banks are exploring the cost and flexibility benefits of cloud-based security services. But to gain the advantages of using outside providers for security, they'll have to boost their vendor management capabilities.
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.
Vendor management is becoming more important from a compliance standpoint as regulators scrutinize banks’ third-party relationships, and achieving that compliance begins with crafting a clearly defined contract.