Core systems

Mnuchin backs designating financial sector workers as 'essential'


Financial services personnel were among critical infrastructure groups that the Department of Homeland Security said were crucial for “public health and safety as well as community well-being” during the pandemic.


Bank tech vendor Finastra hit with ransomware attack


The attack knocked out core and mobile banking systems at several U.S. banks, and Finastra is working to get them up and running.


Colorado bank joins growing list of cloud-based-core converts


FirstBank, the initial customer of the startup Finxact, sought a modern core system that jibes with fast payments and other new technologies.


M&T snags JPM exec, banking deserts, goodbye legacy cores: Top stories of the week


M&T hires Aarthi Murali away from JPMorgan Chase as its customer experience chief; when a small town loses its only bank; why more banks are ditching their legacy core vendors; and more from this week’s most-read stories.


Why more banks are ditching their legacy core vendors


Newcomers Nymbus, Neocova, Finxact and Technisys and older competitors like Temenos, Infosys and Oracle are winning over community and regional banks by offering what some bankers describe as more flexible technology at fairer prices.


Western Union alum starts digital bank for low-income Americans


Rellevate, founded by Stewart Stockdale, will offer pay advances, fast bill pay payment and international remittances for consumers who live paycheck to paycheck.


Gene Ludwig, Chip Mahan launch $545M fund for bank-friendly fintechs


Ludwig, a former regulator and CEO of Promontory Financial, and Mahan, the head of Live Oak Bancshares, say they want to back tech startups that support community banks. The ABA and ICBA are among the fund's investors.


Truist's logo, Wells vs. USAA redux, Visa's Plaid pickup: Top stories of the week


Truist emphasizes high-touch, high-tech focus with new logo; Wells Fargo loses another patent lawsuit to USAA; what the Visa-Plaid merger means for banks, fintechs; and more from this week's most-read stories.


Inside Union Bank's development of a new core system


The bank was burned by a core replacement project that failed in 2011. This time, it's using its PurePoint unit as a test lab and co-developing the software.


Banks best Big Tech on trust, but not much else


Silicon Valley giants are better innovators, software developers and data managers, but banks' inherent advantages shouldn't be discounted, says Sonny Singh, a senior vice president at Oracle.