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Technology is only as good as the people and processes around it. The BAI Retail Delivery session, entitled 'Technology as an enabler for operational excellence' and centred around panellists sharing their experience on when and where to apply IT to benefit the bank's operations, quickly became focused on the necessity of the people and the processes being ready.
The US core banking software sector has always been notoriously difficult to gain a foothold in for the non-domestic vendors. The local heavyweights – FIS, Jack Henry and Fiserv – have over the years acquired smaller players and have ended up with numerous systems under their corporate umbrellas. These companies have also been traditionally close to the regulators, making the case for a bank or credit union to select a non-US vendor difficult to justify.