Core Banking Solutions for Small Banks: A North American Perspective

by Bart Narter,  Stephen Greer, March 8, 2012
Vendor Reviews
North America

Abstract

Core banking is the central processing unit of a bank. Banks, with the help of software vendors, have found the opportunity to leverage multiple channels in order to deliver products and facilitate transactions. What was once a system heavily reliant on paper-based operations has now been revolutionized by digital alternatives, bringing with it a new wave of automation. Efficiency and increased productivity are the standards. Branch networks are increasingly able to utilize the cohesive properties of new core systems.

In a new report, Core Banking Solutions for Small Banks: A North American Perspective, Celent compares a range of solutions that have a sizable presence with larger credit unions, specifically those solutions where more than 80% of the banks have assets less than US$1 billion. In this report, Celent covers solutions where more than 90% of the banks are located in North America. Celent has created a map of core banking vendors and then ranked these vendors using its ABCD Vendor View. XCelent Awards are given to the leading solutions within four categories.

“The North American market is usually relatively slow in switching their core systems, with many banks already running on older legacy platforms,” says Bart Narter, Celent Senior Vice President and coauthor of the report. “Mergers or acquisitions are a key driver for core transformation and comprise a large section of the landscape.”

This is one report in a series on core banking. Other reports include:

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America (Boston)
Erica Ferguson
eferguson@celent.com
Tel.: +1 617 262 8225

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)208 870 7875

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81.3.3500.3023

Table of Contents

Executive Summary

3

ABCD Analysis and XCelent Awards

8

 

The XCelent Awards

9

Vendors

18

FIS Bancline

19

FIS BancPac

23

FIS Bankway

27

FIS HORIZON

31

FIS Mercury

35

FIS MISER

38

Cleartouch Bank Platform from Fiserv

41

Fiserv’s Precision Bank Solutions

46

Fiserv’s Premier

50

Harland Financial Solutions’ IntrieveAdvantage

54

Harland Financial Solutions’ PhoenixEFE

57

Harland Financial Solutions’ SPARAK System

61

Jack Henry Associates—CIF 20/20

68

Jack Henry Associates—Core Director

70

Summary

75

Leveraging Celent’s Expertise

77

 

Support for Financial Institutions

77

 

Support for Vendors

77

Related Celent Research

78

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