New England Federal Credit Union Selects PhoenixEFE® Core
Modern Solution Streamlines Operations, While Supporting the Institution’s Mortgage Lending and Business Banking Initiatives
LAKE MARY, FL (February 25, 2013) – Harland Financial Solutions announced that New England Federal Credit Union ($920M) based in Williston, Vermont has licensed its real-time core processing solution, PhoenixEFE® Core.
The institution’s selection of PhoenixEFE Core was driven by the solution’s modern, open architecture, strong support for mortgage and business lending, and 360-degree member relationship view. As one of the largest mortgage lenders in Vermont, the unified lending platform in the PhoenixEFE solution was of particular interest to the credit union.
“After assessing our core processing needs, we are confident PhoenixEFE is the way forward,” said Jim St. Peter, senior IT and operations executive for New England FCU. “The ability for PhoenixEFE Core to consolidate all of our loans – consumer, business and mortgage – into one servicing platform is a significant advantage, as it will enable us to streamline our mortgage loan servicing capabilities, which is of the utmost importance due to the volume of mortgage lending we do.”
Additionally, the solution’s modern architecture, built using Microsoft® technology, means PhoenixEFE Core will integrate to other systems using open standards, rather than proprietary legacy code.
“The Microsoft technologies will allow us to create custom workflows that incorporate PhoenixEFE Core functions, thereby creating efficiencies for staff,” added St. Peter. “Finally, the manner in which PhoenixEFE Core consolidates all member relationship data into a single view will help us serve our members more efficiently.”
“We welcome New England Federal Credit Union as an example of an increasingly sophisticated credit union adapting to changing market conditions,” said Scott Hansen, executive vice president of business development at Harland Financial Solutions. “Our vision for PhoenixEFE Core is to support technologically-savvy credit unions in expanding their businesses and increasing efficiency. Our partnership with Microsoft enables us to offer a robust solution that is easier 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.
About Harland Financial Solutions
Harland Financial Solutions, Inc. (www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes, offering its solutions in both an in-house and service bureau environment. It is a leader in core systems, business intelligence, branch automation, payment processing, enterprise content management, lending solutions, risk management, compliance, financial accounting, mortgage solutions, and self-service solutions. The company is an indirect wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke, Scantron and Faneuil.