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.
His knack for public policy, dedication to technological improvements once considered the province of big banks, and willingness to tear up a business model that he and his father built make him our top Best in Banking honoree.
A family-owned community bank in Oklahoma is testing a Spotify-like service by fintech Meen that allows customers to pay $9.95 a month to obtain digital banking services.
China's mobile payment lessons for U.S. bankers; Steven Mnuchin's wishful thinking on GSE reform; unpacking Mick Mulvaney's CFPB relocation musings; and more from this week's most-read stories.
Many banks talk about the need to replace legacy core systems, but relatively few go through with it. The CEO of Mechanics Cooperative Bank in Massachusetts explains the case he made to his board that the promise outweighed the risk.
Net income for the Oregon regional bank was $61.3 million, a slight decline from the same quarter last year. It earned 28 cents per share and fell short of analysts’ expectations,
