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Payments Industry CIO CTO

Serving the Unique Needs of Banks & Credit Unions

Experienced Technology Leadership for an Innovative Industry

Banks and credit unions offer similar products and services, however the underlying ownership structures, operating models, and missions are typically quite different.  Teremark understands the unique needs of banks and credit unions, because we have technology leadership experience at both of them.

Bank Technology


Banking has existed for thousands of years, beginning with bartering and eventually moving to currency-based systems.  Today, it is impossible to perform banking transactions without technology.  Banks typically have investor-owners and focus on innovation as a key element of ROI attainment.  Achieving this requires technology leadership that is proven and capable of delivering leading-edge innovations while deriving value from existing technology investments.  Teremark executives have decades of experience as CIOs, CTOs, and CISOs at some of the largest and most respected banks in the U.S.  We are experts at transforming technology to help even the most sophisticated banks achieve their financial goals and exit strategies.

Credit Unions

Credit Union Technology

Credit unions began in Germany and Canada in the 1800s, making their way into the U.S. in 1909. The Credit Union Act of 1934 was a response by Congress to promote credit availability and thrift among communities, without relying on banks.  Credit unions are not-for-profit, member-owned cooperatives with a community focus.  Lower interest rates and broader credit availability to members are key objectives. This charter poses a challenge to the success of credit unions as they compete with banks: both offer the same products, both use the same technologies (which cost the same), both require complex business processes, and both face the same cybersecurity threats.  Lower margins with equally high expenses makes it difficult for credit unions to remain financially viable.  Teremark executives have experience leading technology organizations at some of the largest credit unions in the U.S.  We know how to help credit unions compete with sophisticated banks, leveraging efficient yet effective technology approaches to achieve financial objectives.

Financial Technology (Fintech) & Credit Union Service Organizations (CUSO)


Bank and credit union members expect their digital banking experiences to match that of Amazon, Facebook, and Apple.  The complexity of financial technology ecosystems, coupled with heavy federal regulation, makes this very difficult (and slow) to achieve.  Financial technology firms (Fintechs) emerged in large number over the past few years to fill the “gaps” in banking technology and to improve member experiences through expanded self-service features across digital channels.  For credit unions, CUSOs have emerged to provide Fintech solutions, operating as credit union-owned technology firms to meet the digital demands of members. 


Fintechs were initially viewed as threats to banks and credit unions.  Today, the relationships are more symbiotic as banks and credit unions need technology innovation, and Fintechs need access to banking charters in order to reach their intended users.  At Teremark, we have extensive experience leading innovation at large banks and credit unions, and we know how to effectively leverage Fintechs and CUSOs for exceptional member experiences and efficient business operations.

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