DH Corporation (TSX:DH) ("D+H"), a leading provider of technology solutions to financial institutions globally, today announced that it has been selected by IDB-IIC Federal Credit Union as its core banking solutions provider.
The credit union recognized the value an integrated core banking platform could bring to the progressive institution, including increased operational efficiency, easier account management and a more consistent omni-channel experience. D+H's core solutions currently power more than $186 billion in assets across 575 financial institutions and its portfolio is continuing to grow.
Seeking to achieve many of these benefits with a consistent and efficient environment across all channels, IDB-IIC Federal Credit Union chose D+H's PhoenixEFE, a real-time, integrated enterprise software platform. Designed for banks and credit unions for an in-house or service bureau environment, PhoenixEFE can be deployed in a hosted or licensed environment. The single, comprehensive platform is able to integrate into proprietary systems and third-party solutions, providing IDB-IIC Federal Credit Union with the scalability and flexibility to continue to grow and provide members with the highest level of service.
"We take great care to evolve our capabilities to be aligned with the needs of our members. Our partnership with D+H allows us to adapt to the dynamic technology landscape for the long-term," said Chip Lusk, CEO of IDB-IIC Federal Credit Union. "Through D+H, we are able to improve our product line, member experience and operational efficiency, as well as affiliate with an industry leader that is an excellent cultural fit with our team."
"We are utilizing our experience of working with nearly 600 financial institutions and approaching each project with one unified goal – to empower our clients with a solution that will meet its current and future business needs," said Spencer Jones, Group Head of Enterprise Solutions at D+H. "Core banking software is at the heart of any bank or credit union. D+H is seeing an increase in demand for flexible solutions that give banks and credit unions the ability to scale quickly. We are thrilled to be working with IDB-IIC Federal Credit Union and support its growth through our technology."
IDB-IIC Federal Credit Union, located in Washington, D.C., is a not-for-profit, financial service cooperative owned by more than 11,000 members of the Inter-American Development Bank (IDB) and Inter-American Investment Corporation (IIC) community. The institution was chartered in 1961 to meet the saving and borrowing needs of IDB staff, pensioners and their families. The IIC, an affiliate of IDB, was added as a sponsor in October 1992. Representing approximately 50 different nationalities, the IDB and IIC personnel are seeking to promote peace and reduce poverty in Latin America and the Caribbean through economic and social development.
D+H (TSX: DH) is a leading financial technology provider that the world's financial institutions rely on every day to help them grow and succeed. Our global payments, lending and financial solutions are trusted by nearly 8,000 banks, specialty lenders, community banks, credit unions, governments and corporations. Headquartered in Toronto, Canada, D+H has more than 5,500 employees worldwide who are passionate about partnering with clients to create forward-thinking solutions that fit their needs. With annual revenues in excess of $1.5 billion, D+H is recognized as one of the world's top FinTech companies on IDC Financial Insights FinTech Rankings and American Banker's FinTech Forward rankings.