Harland Financial Solutions announced that its PhoenixEFE enterprise solution has received an XCelent Technology Award by Celent in a recent research report about Core Banking Solutions for Large Credit Unions. The solution received the award for its leading performance in the area of Advanced Technology.
The study examines 12 providers in the financial services sector using the Celent ABCD Vendor View to show the relative position of vendors in the following categories: Advanced Technology, Breadth of Functionality, Customer Base, and Depth of Client Services.
The report cites current trends among credit unions, including the need for multi-channel technologies that help attract members and secure member loyalty, as well as increased integration that provides a single view of the member. These are both areas of strength for PhoenixEFE which brings together Harland Financial Solutions’ real-time core processing solution with the company’s market-leading specialized applications. Its capabilities span the functions of the financial institution’s entire enterprise.
“Credit unions are finding it necessary to develop competitive technological offerings, and therefore prefer core banking solutions with multi-channel options like ATM, mobile, Internet, and IVR to attract customers and engender customer loyalty,” says Bart Narter, senior vice president of Celent’s Banking Group and author of the report. “Harland Financial Solutions’ PhoenixEFE is strongly positioned to help credit unions meet those technological challenges.”
The recent implementation of PhoenixEFE by three credit unions reinforces the report’s findings. Current credit union users include one of the fastest growing credit unions in the United States, Consumers Credit Union with $356 million in assets, Dupaco Credit Union with $922 million in assets, and Spokane Teachers Credit Union with $1.6 billion in assets, all of which have implemented PhoenixEFE within the last two years.
“To support our growth strategy of offering our diverse membership the types of business products and online services they demand, we needed a system with more capacity and flexibility,” said Tom Johnson, CEO, Spokane Teachers Credit Union. “The biggest benefit from day-one has been the single member view – deposits, loans and business relationships all accessible at the front line helps our staff to better serve our membership.”
“We are proud to be recognized by a leading industry analyst firm such as Celent for the advanced technology offered through PhoenixEFE,” said Scott Hansen, executive vice president of business development with Harland Financial Solutions. “We believe the concept of the extended financial enterprise for large credit unions is timely given today’s industry climate and Celent’s observations about current trends. Advanced solutions like PhoenixEFE, with its strong support for business accounts and specialized applications, provide credit unions the edge they need to compete today and in the future.”
About Harland Financial Solutions
Harland Financial Solutions, Inc. (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. It is a leader in core systems, business intelligence, branch automation, payment processing, enterprise content management, lending solutions, risk management, compliance, financial accounting, mortgage solutions, and self service solutions. The company is an indirect wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke Corp. and Scantron Corporation.