Blog

Buried deep in the fine print of your Core IT agreement is something called an “Exclusivity Clause”. Most bankers don’t know it exists. Most again don’t know what it means until they bring a competitive solution from a newer fintech ...
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In late June, Forbes published an article on FIS’ recent attempt to unilaterally implement a new security surcharge on a “select few” of their clients without their permission (FIS has not stated publicly how many were targeted but GCC estimates ...
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The simmering of banker's discontent for the solutions and partnerships offered by the Big Three Oligopoly ("the BTO") of FIS, Fiserv and Jack Henry is now hitting a boiling point. The Wall Street Journal on Friday printed an article titled: ...
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Selling a bank is hard to do and it appears even planning to sell your bank may be made even harder when your core IT supplier manufactures an exit barrier worth hundreds of thousands or even millions of dollars. Millington ...
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Fiserv, Fidelity (FIS), and Jack Henry & Associates (JHA) control 85 percent of the core IT services processing for banks with less than $1B in assets and 93% of the market for those above. By any definition, they possess a ...
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Does your Bank increase fees for loyal customers when they bring you new business with other companies and depositors? Do Banks penalize their commercial customers when they merge with other companies, need more capital or financial services? The answer is ...
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The Golden Contract Coalition has engaged all three targeted Core IT suppliers FIS, Jack Henry and Fiserv in order to open negotiations on behalf of our vast membership of banks and credit unions. A lot has been learned as we ...
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We recently had the opportunity to interview with Tradestreaming, explaining the complexities and challenges that community financial institutions experience with their Core and IT vendors. Read the article HERE to dive into the discussion around GCC ...
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The cost, business distraction and uncertain outcomes associated with renegotiating a Core and IT supplier contract can be monumental. Bankers that go it alone are at a huge disadvantage. Institutions smart enough to retain professional assistance from a company like ...
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While nailing down the specific goals of GCC, I quickly concluded that I needed to unionize institutions together into a collective, building an influential voice backed by their large combined contract values. I also recognized the need to get some ...
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