In an effort to streamline its technology infrastructure, grow market share for commercial accounts and deliver a better customer experience, Rainier Pacific Bank, a $900 million-asset institution based in Tacoma, Washington, has selected Harland Financial Solutions' Phoenix System as its enterprise core processing solution.
"There are many core solutions out there. We found that the Phoenix System's commercial banking strengths and high-performance architecture will support our growth strategy well," said John A. Hall, president and CEO of Rainier Pacific Bank. "As we grow and continue to respond to our customers' needs, I am confident the Phoenix System and Harland Financial Solutions as a whole will be a key contributor to the value we deliver."
Rainier Pacific also licensed Harland Financial Solutions' DecisionPro consumer credit application processing and Interlinq E3 loan servicing solutions. The bank's IT staff will manage the enterprise solution in-house in its data center. As a LaserPro compliant documents user since 1993, Rainier Pacific Bank will also enjoy straight through processing integration with the Phoenix System, resulting in greater automation and lower loan processing costs.
"Rainier Pacific Bank is an excellent example of what we call an "extended financial enterprise" - an institution responding to the growing demands of convergence and convenience across financial services," said Raju Shivdasani, president of Harland Financial Solutions' Enterprise Solutions Group. "Having transformed its business from a credit union to a savings bank, Rainier Pacific required an agile solution built on a modern architecture. We're delighted to play a role in their success."
The bank will implement the Phoenix System in 2009. Since 1994, the Phoenix System has served the needs of more than 150 banks, credit unions, and savings banks from de novo to more than $5 billion in assets.