Listen to this: Bankjoy, the Y Combinator alum startup, is hotly working on a banking app for Apple Watch that will rely on voice for functionality. Dick Tracy would be thrilled. Michael Duncan, the founder and CEO of Bankjoy, told us yesterday that the Apple Watch app will be doneRead More
Post Tagged with: "Core Processing"
Our customers’ yardstick for rating their banking experience is Apple, Amazon and other non-bank players. We have a lot of work to do on the delivery front.
Brock’s got a lot on his plate, and, well, his patience for vendors is waning.
The vendor that can get rid of the silos and be known as a straight-shooter in contractual relationships will get attention from bankers who need real partners to execute their technology strategies fast.
It’s going to take scale-building and what-if thinking by our ancillary vendors to correct the core players’ price-bullying.
The best way for a financial institution to improve user satisfaction on any system – including core – is to change it. Period.
Like it or not, GonzoBankers, the bank core technology market is now a four-company oligopoly, and that means things are certain to get tougher when it comes to vendor management.
Time for us to toast the mighty, recognize the innovators, skewer those who have rambled off the path of righteousness, and poke a little fun at all of the above.
Unlike the airline industry that really has become a “take it or leave it” environment, vendor contracts still need to be mutually agreed to by both parties. We have hope.
Our informal Gonzo estimate: 85% of vendors typically tout “cloud,” but an astonishing 0% tout cloud when Internet access is shaky.