New Aite Report Examines Core Systems

It is time for U.S. financial institutions to replace the antiquated and inefficient core systems that continue to run behind the scenes at many institutions. The perceived risks associated with a full core system transformation have held several institutions back, but fortunately, technological enhancements, more open and componentized architectures, and phased replacement strategies are enabling more institutions to move forward with the core system replacements that they have put off for far too long. Aite Groups latest report, AIM Evaluation: The Leading Providers of U.S. Core Banking Systems, explores some of the key trends within the U.S. core system replacement market and discusses how technology is evolving to address new market needs and challenges.

Aite Group analysts have been stating that financial institutions must replace antiquated and inefficient core systems for quite some time now, shares Christine Barry, research director at Aite Group. These systems make it difficult for banks to address new customer needs as well as expectations for speed and agility, and make it challenging to compete in todays fierce environment, she explains.

Leveraging the AIM, a proprietary Aite Group vendor assessment framework, this Impact Report evaluates a total of six vendors: CSI, Finastra, FIS, Fiserv, Jack Henry, and VSoft. Several additional vendors are named as emerging competitors, non-U.S. providers vying for a larger presence in the U.S. market, or small regional players. This Impact Report examines the overall competitive position of each vendor, focusing on vendor stability, client strength, product features, and client service.

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