Tuesday Topic: Finally, A Core Processing Alternative?

​I am so pleased the ABA has responded to its members and made this investment.  I am frustrated by the attitude and service level of the big three - and welcome an alternative.  I know some or many are skeptical of another processor, but I think this action offers hope.

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Dirk Meminger
President & CEO
Sauk Valley Bank & Trust Company
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Original Message:
Sent: 01-29-2019 08:35
From: Barb Rehm
Subject: Tuesday Topic: Finally, A Core Processing Alternative?

American Banker probes the possibilities behind Finxact, an upstart aiming to compete with Fiserv, FIS, Jack Henry and Finastra. The ABA, SunTrust, First Data and others believe enough in Finxact to invest $30 million. What makes Finxact different? It's the first core system to run in the cloud and be sold as software as a service, which means users pay a monthly subscription fee that doesn't require a big capital outlay and hardware maintenance. If your core system needs an update-and whose doesn't-you owe it to yourself to read this story.  Today's bonus link is The Wall Street Journal story on the future of wireless. You've no doubt heard of 5G, but how about Wi-Fi 6 or Bluetooth 5? Me either, until I read this story. It's fascinating.

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Barb Rehm
Senior Managing Director
Promontory Interfinancial Network
Arlington VA
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