Developed by the American Bankers Association Core Platforms Committee
Core technology is central to a bank’s ability to remain competitive and customer-centric. This compilation of banking industry Principles was developed by the American Bankers Association’s Core Platforms Committee, which was formed to identify actions that can strengthen the relationship between banks and their core providers so banks can deliver the innovative products and services customers want and need.
Banking and financial services are changing at a rapid pace, and consumers have high expectations for their banks’ delivery of products and services. To meet these expectations and continue to evolve and offer the next generation of products and services, community and midsize banks need dynamic, responsive relationships with their core providers.
The Principles offer reasonable standards under which a bank’s relationship with its core provider, and its customer base, can thrive. Fair and transparent contracts, adoption of technologies outside of the core provider offering and access to customer data are achievable standards that will allow banks to be innovative and competitive.
The Committee believes these Principles are the foundation for a strong bank-core relationship. Banks are encouraged to discuss these Principles when engaging with their core providers, and core providers are encouraged to embrace these Principles as they continue to work with their bank customers. Ultimately the terms of any contractual relationship between banks and their partners must be negotiated between the two parties. The Committee believes that incorporating these Principles will help banks meet the technology demands of their customers while strengthening the business relationships between banks and their core providers.
Find resources to help you navigate your core relationships, including fact sheets and interviews from core providers, training and resources, and a sample RFI template.
See the Resources