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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A Community Banker's Guide to Spotting the Holes in a Core Contract

Apr 7, 2021 4:04:23 PM / by IBT Apps posted in vendor management, community banking, core technology, core provider contract

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Having to review a core provider’s contract is like trying to walk through the southern mud. There are pages and pages of messy legalese, and if you don’t have an attorney that is knowledgeable in core technology contracts, you might just sign up for products and services you don’t need or want, and end up paying for more than you bargained for. What community bankers may not realize is that a core provider’s contract shouldn’t be complex or confusing; yet day after day, bankers are left locked into their contracts due to the black holes they couldn’t spot ahead of signing on the dotted line.

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Ebook - How Core Technology is Changing Community Banking

Mar 9, 2021 1:42:12 PM / by IBT Apps posted in community banking, core technology

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In order to thrive in today's climate, a community bank must shift its business strategy and advance their core technology. Download our latest ebook on How Core Technology is Changing the Community Banking Environment and learn about the developments and benefits of modern core technology and where to start when your business joins the road to innovation.

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Evolve or Dissolve: Exploring New Core Systems to Grow Your Business

Feb 25, 2021 4:54:26 PM / by IBT Apps posted in community banking, core technology

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This content was previously published in IB magazine.

Many community banks have been operating with their core technology for decades, often for as long as the bank has been established. The bank’s staff are accustomed to working with old technology and a mindset of, “if it’s not broken, don’t fix it.” But digging deeper, many bankers are finding that it is, in fact, broken in some way, shape, or form. Legacy core systems become stagnant, costly to maintain, and create a barrier to growth and profitability.

Community bankers must realize that the benefits of a new core outweigh the upfront costs. For community banks to thrive in this time, they must take the leap, let go of their incompatible core, and explore systems that can evolve as their needs change.

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