critical considerations when selecting a technology provider

Executive Summary

You could pay a high price and miss out on significant opportunities by failing to consider the role of service and support criteria when selecting a technology provider. This eBook explores the topic in detail.

The relationship between your financial institution and your technology providers can dramatically impact how effectively you serve your accountholders and compete in today’s challenging business environment.

Indeed, you could pay a high price and miss out on significant opportunities by failing to consider the role of service and support criteria when selecting a technology provider.

Poor service and support can lead to:

• Reduced productivity
• Operational interruptions
• System outages or performance problems
• Accountholder dissatisfaction
• Regulatory scrutiny
• Stagnant innovation

Excellence in service and support, on the other hand, can:

• Increase operational efficiency
• Enhance your reputation
• Boost revenue
• Give you a competitive advantage
• Support regulatory compliance
• Reduce costs

In a recent survey, financial institutions indicated that “their primary non-policy concern is their relationship with core providers.”¹ Three of the top 10 attributes the survey identified relate to service and support²:

• Provide timely, high-quality accountholder support
• Support my growth and business strategy
• Create a positive working relationship with my staff

the price you pay for poor technology vendor service and support

Delivery of technology supplier service and support remains crucial to improving operational efficiency and accountholder satisfaction. This ties in directly to the top strategic priority of financial institutions, as identified by the Jack Henry™ 2025 Strategy Benchmark study.

As increasing non-interest expense and loan-loss provisions continued to put downward pressure on net income, financial institutions entered 2025 with a growing sense of urgency around efficiency. In fact, 47% of credit union and bank CEOs named “efficiency” a top strategic priority. This marks the first time “efficiency” has taken the top spot across total respondents.³

Your technology provider’s ability to deliver top-quality client service directly influences the success and stability of your institution. Providing high-quality client service ensures that you can effectively address the needs and concerns of your accountholders, fostering trust and loyalty.

Conversely, subpar client service can lead to frustration, dissatisfaction, and a loss of confidence among accountholders. As a result, your accountholders may seek other financial institutions that offer better support and services, ultimately impacting your reputation and market share.

Even with a solid technology ecosystem, relying on a vendor with subpar service introduces serious risks. When support falls short, technical issues go unresolved, updates are delayed, and help is lacking when it’s needed most. That can lead to inefficiencies, security vulnerabilities, and missed opportunities to serve your accountholders.

how to evaluate a potential supplier’s service and support

Ensuring Your Technology Provider Can Meet Your Requirements

When selecting a fintech supplier, checking relative rankings on the ABA Core Platforms Survey provides some key insights about the relative levels of service and support offered by a technology vendor.

The survey asks questions that reveal general satisfaction, such as:

• How satisfied are you with your core platform provider?
• How likely are you to recommend your core provider to a peer?
• How likely are you to remain with your core provider at contract renewal?

The survey highlights the critical importance of customer service and integration support in changing to a new core. Generally speaking, the way a tech provider deals with service and support for a core should translate to all areas of your financial institution’s tech stack.

To continue reading, download the full eBook.

Sources:

1. 2024 ABA Core Platforms Survey: All Core Platform Providers Are Not the Same, American Bankers Association, accessed August 15, 2025.
2. 2024 ABA Core Platforms Survey.
3. Jack Henry 2025 Strategy Benchmark, Jack Henry, accessed August 15, 2025.