Core Banking Solutions for Small Banks: A North American Perspective

by Bart Narter, November 25, 2009
Vendor Reviews
North America

Abstract

Core banking is the central processing unit of a bank. The banks, with the help of software vendors, have found the opportunity to leverage Internet technology to handle transactions.

Most paper-based transactions of yesteryear have been replaced by digital alternatives. Automation has brought a mantra of efficiency and increased productivity. The core banking systems run 24/7 to support banking operations and transactions using Internet banking, ATM, phone, and debit cards. In the new report, Core Banking Solutions for Small Banks: A North American Perspective, Celent compares the range of solutions available to small banks in North America. Celent has created a map of core banking vendors catering to small banks in North America. Celent then ranks these vendors on its ABCD analysis.

According to Rajesh M R, Celent analyst and coauthor of the report,"Small banks typically prefer core banking vendors to provide an integrated solution. With the desired features increasing in complexity, the banks depend on experienced vendors for supporting their needs."

"A hosted model is clearly an attractive one to most small (less than $500 million in assets) banks, but it is interesting to note that there are a number of vendors in this category that still have the majority of customers running on-premise," stated Bart Narter, Senior Vice President of the banking group at Celent. This will generate upcoming research from Celent.

This report is the first in a series on core banking. Subsequent reports will include: Core Banking Solutions for Large and Midsize Banks—A North American Perspective, Core Banking Solutions for Small Banks—A Global Perspective, Core Banking Solutions for Midsize Banks—A Global Perspective and Core Banking Solutions for Large Banks—A Global Perspective.

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 a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

Executive Summary

3

ABCD Analysis

7

Vendors

13

 

FIS BancLine

13

 

Fiserv BancPac

17

 

Fiserv’s Cleartouch Bank Platform

20

 

Fiserv’s Precision Bank Platform

24

 

Harland Financial Solutions’ IntrieveAdvantage

27

 

Harland Financial Solutions’ The SPARAK System

31

 

Jack Henry Associates -- CIF 20/20

34

 

Jack Henry Associates – Core Director

37

 

Metavante Bankway

41

Summary

45

Leveraging Celent’s Expertise

46

 

Support for Financial Institutions

46

 

Support for Vendors

46

Related Celent Research

47

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