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I'm not at a top 3, only a large regional. But I'm going to guess software packages and services from companies like Wolters Kluwer Financial Services (http://www.wolterskluwerfs.com for those interested).

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I'm sure we buy tons of products like that. Some of my coworkers worked on Black Knight's MSP before. The costs over there are even more insane. But in my department (a risk department) everything is custom ETL, custom web apps, and custom or off the shelf reporting.

How much of the costs are from the bloat of things like custom web apps and custom reporting? Are newer online-only banks saving substantial amounts of overhead by getting by with the basics and doing their own API integrations?

regulations depend on what tier of bank you are.

a smaller bank has less complicated products and requirements. Also of course less legacy.

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