PhoenixEFE® receives XCelent Technology Award in Recent Research Study
Harland Financial Solutions announced that its PhoenixEFE® enterprise solution has received an XCelent Technology Award by Celent in a recent research report for its leading performance in the area of Advanced Technology. PhoenixEFE is used by hundreds of banks and credit unions around the world, ranging from community to multi-billion dollar institutions.
The study, which focused on financial institutions with less than $1 billion in assets, examined 13 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 banks, including the drive to replace older legacy systems with more efficient and flexible hosted core banking systems, as banks look for a greater return on investment utilizing automation and flexibility. The report also referenced the need for multi-channel technologies that help attract members and maintain member loyalty, as well as the importance of increased integration that provides a single view of the member. These are all areas of strength for PhoenixEFE, which integrates with Harland Financial Solutions market-leading specialized applications, allowing its capabilities to span the functions of the financial institution’s entire enterprise.
"Banks are, more than ever, looking for vendors with highly integrated core solutions that facilitate their forays into multiple channel technologies, such as ATM, Internet, IVR and mobile. Customer centricity is becoming increasingly important for financial institutions to compete, and banks desire solutions that facilitate product development and provide a wide array of customization capabilities," says Stephen Greer, analyst with Celent’s Banking Group, and coauthor of the report. "Harland Financial Solutions’ PhoenixEFE employs a robust, modern architecture with enough flexibility to meet the needs of a wide variety of institutions."
The recent licensing of PhoenixEFE by five additional banks reinforces the report’s findings. One of the recent adopters of PhoenixEFE includes Citizens Saving & Loan based in Leavenworth, KS with $200 million in assets.
"PhoenixEFE is strong in two of our primary areas of focus: building relationships and operational efficiency," said Ron Romig, president and CEO of Citizens Savings & Loan.
"With its integration capabilities, PhoenixEFE is a comprehensive solution that will help us eliminate such things as duplicate entry and will provide us easier access to all of our bank’s information from one place. Further, the single relationship view in PhoenixEFE aligns very well with our customer-driven focus."
"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 our extended financial enterprise and technology strategies for PhoenixEFE provide banks the opportunity to compete effectively in today’s highly competitive financial services market. The solution, with its nimble technology infrastructure and strong support for managing customer relationships, provides financial institutions the edge they need to compete for the long term."