LAKE MARY, Fla. (6/28/12)--Harland Financial Solutions' PhoenixEFE enterprise solution has received an XCelent Technology Award from Celent for its performance in the advanced technology category.
PhoenixEFE is used by hundreds of credit unions and banks worldwide, ranging from community to multi-billion dollar institutions.
The award was announced as part of a study of financial institutions with less than $1 billion in assets. It examined 13 providers in the financial services sector using the Celent ABCD Vendor View to show the relative position of vendors in the areas of advanced technology, breadth of functionality, customer base and depth of client services.
The report cites trends among financial institutions, including a drive to replace older legacy systems with more efficient and flexible hosted core banking systems, as firms look for a better return on investment through automation and flexibility. The report also stressed the need for multi-channel technologies that help attract members and maintain member loyalty, and the importance of increased integration that provides a single view of the member.
"Banks are, more than ever, looking for vendors with highly integrated core solutions that facilitate their forays into multiple channel technologies, such as ATM, Internet, interactive voice response and mobile," said Stephen Greer, analyst with Celent's Banking Group, and co-author of the report.
"Customer centricity is becoming increasingly important for financial institutions to compete, and banks desire solutions that facilitate product development and provide a wide array of customization capabilities," he said.