Small FIs can customize third-party technology
Vendors build 80% of solution, banks 20%tech to address client needs
Springfield, Ill.-based bank INB relies on third-party vendors to build most of its technology, then customizes it to meet the needs of INB its clients.
“For our size, we need a good partner,” Chief Operating Officer Mark Donovan told Bank Automation News. “Development talent is a scarce resource … developing a solution that can integrate into our ecosystem can require large technological lift.” 
That’s why the $1.5 billion bank relies on third-party vendors for its technology, including AI-driven solutions, Donovan said.
However, the bank doesn’t leave all the innovation to vendors, he added.
At INB, vendors build 80% to 85% of the solution, allowing the bank to customize the remaining 15% to 20%, Donovan said.
According to data and analytics platform FINavigator, INB also taps the following:
- Computer Services for core processing, and mobile and online banking;
- Linklive for online live-chat capabilities; and
- FIS SunGard PAL for its wealth management platform.
