ABA Core Platforms Committee The purpose of the committee is to - PowerPoint PPT Presentation

ABA Core Platforms Committee The purpose of the committee is to identify actions that can strengthen the relationship between banks and their core providers so banks can deliver the innovative products and services customers want and need. aba.com 1-800-BANKERS Confidential

ABA Core Platforms Committee The committee is focused on engaging in constructive dialogue with the Core Providers to: • Concisely convey bankers’ most pressing needs • Better understand their position and plans • Articulate the principles that the committee believes should be recognized as foundational, universally fair and expected between the banks and their core providers aba.com 1-800-BANKERS Confidential

ABA Core Platforms Committee • One of the top priorities for banks • Based on banker need, ABA formed Committee to bring banks together • First meeting Dec 2018 • Developed key areas of focus – APIs (Application Programming Interface) – Data Access – Contracts aba.com 1-800-BANKERS Confidential

ABA Core Platforms Committee Contract Focus: • Deconversion Fees • Coterminous Contracts • Limitation of Liability • SLA’s • Early Termination Fees • Exclusivity Provisions aba.com 1-800-BANKERS Confidential

ABA Core Platforms Committee • Meetings with four core providers • Issued RFI to twenty-eight existing and emerging cores • Met in January with eleven existing cores • Meeting in March with emerging cores • Developed Principles of Core Banking which is posted on aba.com/core – Banks should use this when meeting with their core providers and ask them to agree to the principles aba.com 1-800-BANKERS Confidential

ABA Core Platforms Committee • Continue to speak with bankers regarding core providers • Working on a number of deliverables, including how we educate the industry on what we are learning • aba.com/core houses all core-related information related to the Core Platforms Committee aba.com 1-800-BANKERS Confidential