Ken Isaacson

Mar 27, 2024 | kansascityfed.org | Ken Isaacson |Bornika Das |Sam Baird |Fumiko Hayashi

Three core providers dominate the market for core banking systems for depository institutions (DIs). These providers also have a large presence in vertically related markets, such as card network services; payment processing services for DIs, merchants, or governments; and banking-as-a-service. This market structure may make it difficult for DIs to switch their core providers, affecting their ability to offer new services and stay competitive.