Core Banking System Consulting Services

Many banks and credit unions know they have a core banking modernization or replacement effort coming up in the next few years, and they know they need to begin planning well in advance of starting a selection project.

Cornerstone helps these financial institutions with a high-level review of the various core replacement strategies, including “hollowing out” or componentizing the core, and the core banking vendor options. A broader application assessment is included to understand other likely application changes and then Cornerstone works collaboratively with your team to build a modernization plan to be fully prepared when it’s time to begin your core banking system selection.

When you’re ready to evaluate core replacement options, trust the most experienced core banking system consultants with the approach proven across 700+ core evaluations.

Our core banking system subject matter experts will guide you through the entire process including defining your current and future needs, converting your needs into an RFP, helping you interpret the results, managing the product demonstrations and the follow-up questions, leading the vendor due diligence, building out apples to apples vendor pricing models and getting your team to the right decision for your financial institution. Our expanded core banking transformation offering ensures measurable return on your investment.

Cornerstone is the most experienced negotiator in the industry with more than 1,500 core banking system contracts negotiated. Our extensive experience and knowledge of the core vendor ecosystem enables us to negotiate the most favorable contract pricing and terms for both renewal and replacement contracts.

Our secret weapon is our proprietary Contract Vault™. This AI-driven data engine consists of over 15,000 pricing points collected from negotiating thousands of vendor contracts. Armed with Contract Vault™, our experienced negotiators can confidently negotiate from a position of strength and achieve significant cost savings and add fairness and accountability to the contract.

Cornerstone is the most experienced core banking system implementation and core conversion consultants with more than 350 conversions across a wide range of cores, as well as digital banking, payments and other key applications.

Core banking system implementations are massive undertakings impacting every department, line of business, and customer. And while you will pay your core vendor to convert your data and provide introductory training, you are responsible for the entire implementation—product and process design, hardware and network upgrades, testing, balancing, customer communication, etc. With our help and proprietary tools, we’ll get you to, and through, a successful Go Live.

Most financial institutions are not seeing the full benefit from their existing core. We bring our core banking system expertise and our business and technology process best practices together to help clients optimize the value from their existing cores without the need for an expensive and time-consuming conversion.

We dig into your current core-related issues, compare your use of your core to our best practices and then review your configurations, forms, workflow, IT operations, etc. to identify improvement opportunities. We then help get those improvements executed.

When your team just wants to get current on the core banking system vendor market or wants to get Cornerstone’s opinion on your existing core vendor’s direction and roadmap, a Cornerstone briefing can be helpful.

In an interactive session, we share candid insights across the entire core vendor market and then go deeper on your current vendor and the top 2-3 vendors you would likely consider for replacement.