Summary:
Core banking systems, the backbone of everyday banking operations, are being reshaped by rising digital expectations, fintech disruption, and increasing regulatory pressure. As the industry evolves, smaller institutions like community banks and credit unions are taking a different path to modernization than large banks, relying more heavily on their core providers to drive innovation. This report explores emerging approaches like cloud adoption, APIs, and composable architectures, while highlighting the trade-offs institutions must navigate around integration, security, and vendor risk. Ultimately, it makes clear that modernization is no longer optional. Those that fail to adapt risk falling behind both technologically and competitively. Download the full report to explore the trends, challenges, and strategies shaping the future of core banking.
Report Highlights
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Modernization is urgent
Legacy core systems can’t keep up. Institutions that delay risk falling behind in efficiency, compliance, and customer experience. -
Smaller institutions rely on vendors
Community banks and credit unions depend on core providers for innovation. Choosing the right partner is critical. -
New tech brings both benefits and challenges
Cloud, APIs, and composable systems increase flexibility. But they also add complexity in integration, security, and vendor management.
Larry Pruss
Managing Director
About The Author
Larry Pruss has over 25 years of experience as a trusted adviser, strategist, author, speaker, and futurist. He serves as a member of the US Faster Payments Council and is a Fellow at the Digital Euro Association. Larry’s career includes leadership roles at prominent financial institutions such as Bank of America and Banque Nationale.
Jeff Ostheimer
Managing Director, Technology Advisory
About The Author
With over 20 years of fintech experience, Jeff has worked with leading financial technology companies in North America and globally. He has developed world-class digital and core banking transformation strategies for The Top 3 fintech companies worldwide. Jeff specializes in high-value projects for financial institutions across core banking, digital banking, Banking as a Service (BaaS), and core integration hubs, among others. Jeff played a critical role in the expansion of SRM’s Core and Digital Integration practice, which now extends to the United Kingdom and Europe
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