Core Providers, Open Banking, APIs: What Should You Know?
By:
Sharon J. Lorman
Jeffrey P. Marsico
Gregg J. Wagner
Guest: Aaron Silva, President and CEO of Paladin fs & Golden Contract Coalition
Podcast Show Notes:
Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking news that happened this month. TMIB will be available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute, at your desk or at home.
Topic: Core Providers, Open Banking, APIs: What Should You Know?
Start time: 1:17
Your strategy says, “greatly enhance digital delivery”. Now what? Community banks have few choices when it comes to choosing a core service provider. Fiserv, FIS and Jack Henry and Associates control the majority of the core banking services market. Community banks are often locked into onerous long-term contracts and are tied to their core providers’ timetable for innovation and execution. Join our discussion with Aaron Silva, President & CEO of Paladin fs, to understand what open source really means, what a better platform for the future should look like and what to look for and when to start negotiating your core processing contract.
Mr. Silva is a recognized and respected industry leader and negotiations expert standing for community financial institutions. An entrepreneur and industry veteran since 1991, Aaron founded Paladin fs, LLC in 2007 and launched Golden Contract Coalition in 2016. His invention of the Paladin Blue Book has leveled the playing field in contract negotiations vs. national Core & IT suppliers, gaining his clients more than $300M in cost reduction and $100M in merger value accretion. In 2018 Silva expanded Paladin to include the Fintech Advantage division, now addressing the anticipated adoption of fintech services within the industry. By the end of 2019, the GCC will have more than $1B in combined contract value – the largest banking association focused exclusively on developing a fair “Golden” contract standard that all Core, IT and Fintech suppliers will ultimately adopt in order to do business with this industry.
Mr. Silva can be reached at asilva@paladin-fs.com.
This podcast relates to The Kafafian Group’s Strategic Management services. Click here for more information.
Watch for episode 44 of This Month in Banking to be released on Wednesday, August 28, 2019 and a new episode on the last Wednesday of every month.
Thank you for listening!
Relevant Links:
FIS Retreats on Security Surcharge for Its Bank Customers
How to Save Millions in Vendor Costs Without Changing a Thing
WSJ Reports: Core IT Vendors Building Tollways, Not Highways to Bank-owned Data
ABA Invests in Emerging Core Banking Provider
Why startip Finxact just got $30M from the ABA, SunTrust, others
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