Finastra today announced that Christian Investors Financial (CIF) has selected Finastra to provide the technology as it embarks on a digital transformation, including modern mobile services, and an open, cloud-based core processing platform.
The nonprofit church extension fund, with a strong history of growth and operational success, will use an integrated omnichannel banking solution including Finastra’s Fusion Phoenix core and Fusion Digital Banking, and integrated solutions for document management, self-service account opening and account-to-account transfers in order to provide a robust experience to its customers.
“With Finastra, we will be able to provide our customers with a modern digital experience, in line with what they might receive at larger financial institutions,” said Scott Achterling, President and CEO, Christian Investors Financial. “We currently don’t have a mobile app or online account opening capabilities — services that our customers increasingly expect. Now, customers will be able to do this with a seamless, omnichannel digital experience that feeds directly into our core. New and existing investors will be able to open Demand Certificates and Term Certificates much more conveniently, enabling us to reallocate resources internally to better fulfill our mission.”
In transitioning from its existing core processing system, which is run in-house, to Fusion Phoenix in the cloud, Christian Investors Financial will free up more time for staff to focus even greater attention on their customers, as they will no longer be responsible for running and maintaining their core and enterprise content management systems. The organization will leverage Microsoft Azure for system security, performance, and flexibility.
“A robust suite of digital services will meet the demands of Christian Investor Financial’s customers, while an open and flexible core, run in the cloud, will future-proof the technology investment,” said Chris Zingo, SVP and GM of Americas Field Operations, Finastra. “As new technologies emerge, Fusion Phoenix can integrate with them with its progressive open API architecture, allowing Christian Investors Financial to take advantage of trends and opportunities more quickly and efficiently.”
Leveraging multiple Finastra products to create a best-in-class, enterprise-wide solution will deliver additional operational efficiencies that promise to have a profound impact on CIF. For example, the Fusion Phoenix core integrates seamlessly with Finastra’s Fusion LaserPro, CIF’s current loan documentation and management solution, to automate loan onboarding for servicing on the core, eliminating the need to rekey loans manually. Because Fusion Phoenix is built entirely on Microsoft technology, CIF staff will find the system intuitive to use and enjoy seamless integration with Microsoft Outlook, Microsoft Excel, and additional Microsoft reporting solutions.
Fusion Digital Banking will provide Christian Investors Financial with a mobile app, giving its customers robust digital capabilities to manage their investments or loans anytime anywhere, from viewing e-statements to transferring funds. With the addition of Fusion uOpen, customers will also be able to open new Demand Certificates and Term Certificates. Through these capabilities, Christian Investors will be able to expand its reach and grow its customer base.