We are currently doing our due diligence on a new core provider for our bank. We are $48M in assets and growing, small community ag bank. The core we are on right now was supposed to have integration with other applications but have found they are not. We are service bureau so they do all processing for us. We have online banking, mobile app, bill pay, etc.. everything a larger bank has. We need a core that can provide us with integration to all ancillary products, great customer service that knows their core and that can answer our questions. So I am curious if anyone would like to share what core they are on and what they do or do not like about them. If you had the choice to choose them again, would you and why? Thank you for your responses!
- We are converting to CSI Nupoint in January; we began preparing in October, 2017. Our due diligence has included conferences plus calls and visits to other banks. We feel very confident in the decision we've made; CSI is 53 yrs old with a history of great customer service along with the interests of community banks. We have been with FIS Bankway for many years.
- We have been a CSI customer for 45 years. I have only been with the bank for 15; I think CSI does a good job of making sure smaller community banks can offer what the larger banks offer. Our current 10 year contract expires in 2021, so as always we will do our due diligence - but in the past, we have always stayed.
The customer service is very good. Our account rep visits the bank monthly and we are able to call many employees directly. They have a Customer Resource Center as well and you may submit tickets with questions or problems and they typically respond within 1-2 hours. You may also call the CRC if something needs to be handled urgently.
Products - The core products work well and integrate well for the most part. The one thing I don't care for is the Deposit Platform FORMS (not the system - the system itself is great), the fill in the blanks is not always smooth and doesn't flow well. But do customers really look at this - mostly no. CSI integrates with LaserPro for loans; but CSI never plans to roll out a loan form system (too many compliance changes). Not all fields carry over but majority do.
Compliance - They have a great knowledgeable compliance staff who stays up to date on changes and ensure any changes to the core are made before the deadline. They provide a quarterly compliance update on all issues and guide you to what the bank needs to do as well as what they are doing.
Downsides - I would have to say product enhancements - sometimes they will roll out an update and it may not still work 100% or there may be some issues. They should probably have spent more time in beta testing.
Pricing - This is the largest expense for the bank - but it is also your core operating system, so it isn't going to be cheap - I think they do their own homework and know what competition charges and stay competitive.
Financial - When you review the financial reports for CSI, you will see they are very stable and make a profit and have always been.
I am more than happy to answer any questions about them. I hope this was helpful.
- If you are just starting the process, you may want to hire a consulting company to help you with evaluation and negotiating the contract in the future if you do decide to switch.
- We have been with CSI for the past 4 years. We migrated from JHA 20/10 to CSI NuPoint. We used a consulting firm to assist with this project to allow a fresh set of eyes to make sure that we were asking the right questions, etc.
We have not regretted our decision to go with CSI at all. We have been pleased that they actually do listen to what the bank wants and needs and try and roll this out sometimes sooner than later.
We felt that CSI offered better customer facing products then the other vendors that we met with and we also wanted to be treated like a customer by name and not just another number when it came to our support.
Feel free to reach out to me if you have any specific questions. I might not know them but I will try my best and get you a response.
- Real time processing is important to us and one of the main reasons we use FIS Miser core. Miser is a solid core and true real-time processing. We have no core down time per year. None. Miser has been our in-house core processor since 2003. We completed due diligence this year and stayed with Miser.
Miser clients range from small banks like us to billion dollar credit unions. Miser supports both service bureau and in-house. As an in-house client, we always have the option of migrating to service bureau.
We are very pleased with the front-end automation called Desktop. Miser also integrates well with a couple third party companies we use and with other FIS services. Examples: CFM changes made in Miser update directly to FIS e-banking channels. Customer e-banking transfers are real time.
Small FIs such as us fall under an FIS category called Main Street banks. We frequently benefit from special considerations for institutions that struggle with the cost associated with add-on services such as e-statements, external transfers, message delivery, and RDC. It is a nice perk for the small FI working with a Fortune 500 company.
Negative comments: We have no negative comments about the Miser core. However, FIs may find they outgrow Miser when they specialize in commercial lending or extensive municipal services.
FIS as a whole has given us some heartburn during implementation phases.
- We have been with CSI for 4 years and have not regretted the move. They really are a great company with wonderful customer service. The conversion team that was with us were amazing and they make sure that you are comfortable with everything before they leave you.
- We are looking at IBT Apps. Does anyone have pros or cons to this core provider?
- I'm surprised to see so many people happy with their core companies, I always thought it was necessary to despise your core. ;) Jokes aside, I'm not a fan of Fiserv with my limited experience with it, but it has made me appreciate Jack Henry, which I never thought I would. Jack Henry had all the products that talked to each other, and you were able to set up account parameters very easily with limited maintenance. A lot of compliance areas were integrated into the system (Reg CC, TIS, etc.) where Fiserv doesn't seem to function well in that area without additional programming.
I was talking with a banker yesterday who asked in a peer group how other bankers captured CIP fields of new accounts without using an account application form. I explained that usually core systems could require fields and then the banker just input them in rather than a customer filling out a form, and asked if her core could do that - it didn't sound like CSI had that capability. For these CSI users, are you all using forms or have you figured it out?