With core providers, breaking up is hard to do

The contracts they use today are literally using terminology and service standards they provided in the 1980s. Because so many bankers just signed these contracts again and again these terms became institutionalized. [...]there isn't enough competition. First you have to convince a bank to risk...

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Bibliographic Details
Published in:BankBeat 2018-12, Vol.203 (13), p.38-38
Main Author: Dullum, Justin
Format: Article
Language:English
Subjects:
Bank technology
Banking industry
Product development
Online Access:Get full text
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Summary:The contracts they use today are literally using terminology and service standards they provided in the 1980s. Because so many bankers just signed these contracts again and again these terms became institutionalized. [...]there isn't enough competition. First you have to convince a bank to risk its franchise on your new product.