ABA Banker Committee Shares Concerns with Four Core Providers
The ABA Core Platforms Committee—a group of 20 bank leaders representing community and midsize banks—on Tuesday met with top executives from four of the nation’s largest core processing firms. During the meeting, the bankers shared their concerns on three key issues—data access, API deployment and contract fairness—with FIS, Fiserv, Jack Henry and Finastra. The representatives of each participating core agreed to provide written responses by July 15 to explain how they will address those issues and were invited to meet with the committee again in August.
“The tone of today’s meeting was positive and cooperative, even as we acknowledged that there is still work to do to address these challenges,” ABA President and CEO Rob Nichols said in an email to ABA member bank CEOs on Wednesday. “We look forward to seeing that spirit of cooperation in the form of meaningful commitments when the companies respond in writing and when we meet again later this summer.” Nichols convened the Core Platforms Committee earlier this year to evaluate how community and midsize banks’ current relationships with their core processors may be inhibiting innovation and provide recommendations that can help banks and cores move forward together.
Committee Chairman Julieann Thurlow discusses the committee meeting and next steps in a bonus episode of the ABA Banking Journal Podcast.
- Listen to the bonus episode.
- View Committee members.
- For more questions about the Core Platforms Committee, contact ABA's Lisa Gold Schier.