Traditional payment IT cycles hurt small banks
13 June 2019
by Vinay Prabhakar, Vice President, Product Marketing
Smaller banks recognize the merits of delivering the digital payment services, but core technology providers are struggling with the pace of change, and the traditional annual upgrade cycle is no longer appropriate, even for the smallest of banks.
This has created a mismatch between the needs of smaller financial institutions and the technology available from their suppliers as mobile and other digital payments accelerate.
Small banks may be pushing back against vendors who prioritize large clients and force smaller organizations to wait too long for new technology.