Fintech Podcast – Episode 159: The Oligopoly in American Banking That No One Talks About


In our latest episode of fintech podcast, Around the Coin, Faisal speaks to Aaron Silva of Paladin FS.

Paladin FS safeguards community bankers against bad deals and helps them drive value for their customers, franchises and shareholders through incumbent vendor Core and IT banking contract renewals, smart vendor selection and preparing agreements for future M&A strategies.

In this episode, Silva sheds light on a very unique story in the banking world, that people don’t talk about. To put it bluntly, the oligopoly of the three large CBS (Core Banking System) providers in the United States, i.e. Jack Henry, FIS Global, and Fiserv. Amongst these three giants, they pretty much dominate (read: control) the core banking system and allied services market in the US.

So what’s the problem? Well, they say the devil is in the details. 1000s of banks sign away these contracts with the big 3, not knowing what they have given up, as far as the freedom, flexibility, and independence of purchasing these systems go and what happens to the ownership of the bank’s data.


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