Core Systems: The Walking Undead
Credit union core systems are old, truly antique in computer terms, but they also seem to be immortal in most institutions.
“People have been talking about the death of the core since at least 1995,” said Scott Hodgins, a research director with Cornerstone Advisors in Scottsdale, Ariz.
Core vendors, incidentally, also have few reasons to kill off aged cores. “They are cash cows,” said Brad Smith, CEO of consulting firm Abound Resources in Austin, Texas. The vendors are not investing in upgrades, so the service fees that come in mainly fall straight to the bottom line, said Smith.
That leaves neither side motivated to kill off an old core.