Software

Should financial institutions consolidate to 1 vendor?

In today's podcast, experts from Oregon Community Credit Union and Cook Solutions Group discussed vendor management and made the case for switching to one vendor.

Photo: Networld Media Group

December 13, 2024

Financial institutions commonly have to deal with multiple vendors even for a single device like an ATM. This can cause significant strain on resources, time and management as banks have to handle all of these vendors at once. In such cases, it may be worth it for banks to consider working with one vendor for a variety of technology needs from ATM installation to security, digital tools and more.

In today's episode of the Bank Customer Experience Summit podcast, Bradley Cooper, editor of ATM Marketplace spoke with Brian Alfano, COO of Oregon Community Credit Union and Scott Fieber, chief strategy officer at Cook Solutions Group to learn more about the pros and cons of moving away from many vendors to one.

During the podcast, the panelists provided expert insights into the following topics:

• What are the biggest problems with managing multiple tech vendors?
• What are the primary advantages of moving to one vendor?
• How can banks strategize to get the best deal?
• What's the cost factor in all of this?
• What solutions does Cook Solutions Group provide?

Listen to the podcast in full above.

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