Harland Financial Solutions announced that Scient Federal Credit Union, based in Groton, Connecticut, has licensed its real-time core processing solution, PhoenixEFE Core.
The credit union's selection of PhoenixEFE Core was driven by the solution's modern, open architecture and strong support for business loans and deposits. The opportunity to consolidate vendor relationships afforded by the integration of PhoenixEFE Core with other Harland Financial Solutions offerings was also appealing to Scient as it evaluated core systems.
"PhoenixEFE Core is built on a Microsoft® technology platform. This allows us to not only modernize our core processing technology, but also to capitalize on our existing hardware infrastructure. It provides us a more open solution for interfacing with ancillary systems and reducing our total cost of ownership," said Bruce Fafard, president & CEO of Scient Federal Credit Union. "Additionally, PhoenixEFE Core includes strong support for business loans and deposits - an area we are working to grow."
In addition to PhoenixEFE Core, the credit union licensed PhoenixEFE Teller, Sales & Service and Collections, as well as other Harland Financial Solutions integrated offerings, including FMS financial accounting software, Cavion Voice Banking, the DepositPro account opening solution, the LaserPro suite for compliant loan documents, the DecisionPro credit application processing system, CreditQuest Credit Manager and uOpen™ online account opening and funding.
"The ability for us to integrate so many of Harland Financial Solutions' best-of-breed specialized applications with PhoenixEFE Core enhances our sales and service culture, while also increasing our operational efficiency," added Fafard. "We have fewer vendor relationships to manage, which frees up our IT staff for internal projects and simplifies integration."
"We are pleased to add another credit union to the growing list of financial institutions looking to leverage a modern core processing architecture and streamlined vendor management in order to increase efficiency and focus on expanding their business," said Bill Zayas, president and chief operating officer of Harland Financial Solutions. "Our partnership with Microsoft enables us to offer a robust solution that is easier for financial institutions to implement and more efficient to run."
PhoenixEFE Core is just one element of the company's PhoenixEFE integrated enterprise software platform that 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.