A new study claims that community financial institutions,including credit unions, dramatically overpay for core systems, onaverage about 24% over “fair market value.”
Institutions in the $500 million to $1 billion range fare evenworse, overpaying by on average 29%, which amounts to roughly $1million over the course of a typical five-year contract, accordingto the study.
The research was conducted by consulting firm Business Performance InnovationNetwork in association with Paladin fs, a consultingcompany focused on core systems. The free report is availablehere.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.