Source: P&H Solutions
P&H Solutions, Inc., the leader in providing business banking solutions to financial institutions throughout North America for over 23 years, today announced that in 2005 P&H delivered record setting financial performance with significant gains in revenues, profits, and new business.
"2005 was an outstanding year for P&H on a number of fronts," said Ralph Dangelmaier, President and CEO of P&H Solutions. "First, our business grew faster than any of our major competitors: sequential growth from Q3 to Q4 was at an annualized rate of 48%, year over year profits grew by 50%, and new business was up 100% over 2004. Secondly, our investments in Web Cash Manager and in expanding our ASP solution have generated strong financial returns. Driving momentum in 2005 and into 2006 is the market acceptance of our Enterprise Business Banking Product (EBBP) strategy. To date, thirteen institutions have contracted for EBBP delivery, and many more are expected this year. New business signings, which were strong in 2005, have accelerated further in the first quarter of 2006."
During 2005, the company also made significant investments in personnel, adding many professionals to the staff, bringing the total to over 250. The company's installed base of financial institutions now numbers over 150 commercial banks, over 1000 credit unions, and a number of brokerage houses. And last fall, P&H was selected as a FinTech 100 company, an annual ranking of vendors to the financial services industry.