In Control with Natasha Vernier At The Core of Banking with Stacy Bishop, Bank/Fintech Partnership Broker
Jan 22, 2026
Stacy Bishop, former Jack Henry sales lead with 24 years in core banking, explains why legacy cores dominate and how banks manage accounts, compliance, and vendor relationships. She discusses deconversion fees, side cores for BaaS and digital brands, pricing and long contracts, and how regulation and acquisitions keep incumbents in control. The conversation also looks at how banks are starting to innovate alongside legacy systems.
AI Snips
Chapters
Transcript
Episode notes
Monzo Built Its Own Payments Stack
- Natasha recounts Monzo building its own payments stack after vendor headaches and scaling to 12 million customers.
- The example contrasts Monzo's DIY success with U.S. banks' reliance on legacy cores.
Why Providers Run Multiple Cores
- Large core providers accumulated multiple core products through acquisitions and still support several legacy systems.
- Consolidation is slow because each legacy core serves distinct customer segments and requires separate teams.
Purpose Of Side Cores
- A side core is a separate ledger used for distinct brands, BaaS, or digital sub-brands to segregate customers and accounting.
- Banks adopt side cores for product separation despite added operational overhead.