This resource guide, combined with the core processor best practices, are designed to help community banks understand important aspects of managing the core processor relationship to maximize the return on their technology investments.
The guide includes recommended steps that community banks should take to manage their core processor:
- assessing their business needs and utilization of current systems,
- gauging satisfaction with the current core processor relationship,
- determining whether to change core processors or stay with the current processor,
- conducting due diligence, and
- evaluating core processor alternatives (including innovation, compliance, and legacy vs. next-generation providers).
The guide also offers community bankers insights into negotiating contracts as well as information about core conversion project management for those that decide to switch systems.