Core War Battlefield So Far Produces No Clear Victor
Somebody is winning. Somebody is losing. Just don’t expect an easy to decipher who will win the battle in this update on the credit union core systems war.
On one side there is Mark Sievewright, president of the credit union division at Brookfield, Wis.-based Fiserv, and his mantra is that it’s not over until it’s over. And Fiserv, he insisted, has really just begun to reap the gains from its January billion-dollar acquisition of Open Solutions and its DNA core. Sievewright comes into the war with a giant lead.
Fiserv, said several experts, likes to sell a one stop solution, and the good news is that included with a Fiserv core deal usually are payments, online banking, mobile banking, probably P2P payments and still more as the company strives to deliver all the computing a financial institution needs to provide member facing services.
Symitar, by contrast, focuses more on providing just the core, but the upside is that it is fairly easy to integrate into it most leading add-ons that the typical credit union would look at it.