IBT Apps Blog

It's Time to Rethink the Core Vendor Relationship

Apr 28, 2021 4:47:04 PM / by IBT Apps posted in vendor management, assessing your core provider, core technology

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This article was previously published in Independent Banker.

How would you describe your relationship with your core provider?

When we spoke to a group of community bankers last year, we often heard, “Well, it’s a love/hate relationship. Our business is running, and we have no complaints, but sometimes we wish we had more to work with.” We also heard, “We actually feel a little trapped in our relationship. We signed a 20-year contract, but our needs are changing and they’re not really able to meet us halfway.”

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When is it Time to Change Core Providers? Read What Our Clients Said.

Feb 3, 2021 2:43:51 PM / by IBT Apps posted in coreprocessingpartner, coreprocessing, assessing your core provider

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If you're like many community bankers, you're stuck between a rock and a hard place when it comes to the relationship with your existing core provider. Many legacy cores are no longer evolving their suite of products, yet their complex contracts make a bank feel locked in. And as we've observed over the course of the pandemic, many big-box cores are failing to be agile and responsive to your needs. If you're reading this, you may already be thinking that something needs to be different this year. But, how do you know when it's time to change core providers?

In this article, we share what has led community bankers like you to switch to a new core provider. Read what broke the camel's back, see if you can commiserate with our clients, and learn if it's time for you to explore other options. 

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Assess Your Core Provider's Service: Question 4 - Technology Costs

Jan 13, 2021 10:23:52 AM / by IBT Apps posted in coreprocessing, cybersecurity, assessing your core provider

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Continuing with the last question of Assessing Your Core Provider's Service, we take a look at technology costs and we have to ask:

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Assess Your Core Provider's Service: Question 3 - Technology Support

Jan 13, 2021 10:23:42 AM / by IBT Apps posted in coreprocessing, cybersecurity, assessing your core provider

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Continuing with question three of Assessing Your Core Provider's Service, we take a look at technology support. Your core provider may support you through the conversion, but do they provide maintenance post-conversion to make sure your system continues to run as it should? And what about your back-office technology? How is it being serviced? 

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Assess Your Core Provider's Service: Question 2 - Cybersecurity

Jan 13, 2021 10:23:31 AM / by IBT Apps posted in coreprocessing, cybersecurity, assessing your core provider

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Continuing with question two on Assessing Your Core Provider's Service, we take a look at cybersecurity, which continues to be a critical issue in the industry and is especially heightened during the pandemic. Your core provider needs to be doing everything possible to minimize your risk, so we have to ask:

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Assess Your Core Provider's Service: 4 Questions to Ask Yourself

Jan 13, 2021 10:23:12 AM / by IBT Apps posted in coreprocessing, assessing your core provider

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2020 brought its set of challenges to community banks nationwide, causing many banks like yours to rely on their core technology more than ever before. Did your core provider support your bank when you needed them the most? Before you answer, ask yourself the following questions:

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