Harland Financial Solutions, Inc. has established itself as a leader in the increasingly important Enterprise Content Management arena with the acquisition of Carmel, Indiana-based Financialware, Inc.
Harland will immediately begin integrating Financialware's .NET based solution into its existing core, lending, mortgage, item and payment processing systems. Harland Financial Solutions is a wholly owned subsidiary of John H. Harland Company (NYSE: JH). The terms of the transaction were not disclosed.
Financial institutions increasingly are focused on creating a single unified view of all customer information, including the ability to archive and retrieve documents of all kinds, ranging from checks to loan documents to signature cards to debit and credit payment receipts. The challenge has been creating that single view of all customer information without consuming their employees' time by manually inspecting and linking the majority of relevant documents.
Financialware has addressed that challenge with its Active:View Enterprise Content Management system. This technology fully automates all activities associated with report and document imaging, archival, cross-referencing and retrieval using proprietary pattern matching technology. Most importantly, by leveraging Microsoft's .NET architecture, the consolidated view of all customer accounts, transactions and documents is accessible via browser by both the financial institution's employees, and their customers, facilitating superior customer service.
In addition, Financialware's competency in the area of check, item and image processing has led to the introduction of its Checkpoint 21 solution, a turnkey solution that fully automates all aspects of image-based check clearing through the Federal Reserve banking system in compliance with Check 21 regulations.
"Financial institutions view enterprise-wide electronic content management as a key strategy in enhancing operational efficiency and creating competitive differentiation in servicing their customers," said John O'Malley, president of Harland Financial Solutions. "Many Harland Financial Solutions' customers already use Financialware's enterprise content management products, and we will build on that successful technology by integrating across our solutions and delivering innovative workflow to support our customers' strategies."
"Harland has a strong reputation for serving its customers and taking care of its employees," said Charley Myers, founder and chief executive officer of Financialware, Inc. "We couldn't think of a better company to take Financialware to its next level."
Harland Financial Solutions will continue to operate Financialware's offices in Carmel, IN, a suburb of Indianapolis. O'Malley added, "We are proud to welcome the Financialware team to the Harland Financial Solutions family and look forward to investing additional resources into the business on behalf of our clients and strategic alliance partners."