Core systems

Customers saw transactions recorded multiple times and experienced drained accounts and long hold times. It’s a warning to all financial institutions as they head further into mobile-only banking — glitches are more visible and painful and need to be addressed faster than ever.

From the identity of bankers in the 21st century to the regulatory turmoil in Washington to the huge impact of technology on the industry, readers expressed an array of strong opinions about what happened in 2017.

In mid-2015, several thousand banks registered for dot-bank domains. More than two years later, only a few hundred have converted.

Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant.

Readers this week highlighted the need for banks to upgrade payments systems, debated a small bank’s decision to ditch its legacy core vendor, lamented populist initiatives of the GSEs, and more.