Core Platform Switches in Indiana, Connecticut
Credit unions in Connecticut and Indiana have announced they are switching core processing solutions.
The $230 million Scient FCU in Groton, Conn., is converting to the PhoenixEFE core system from Harland Financial Systems in Lake Mary, Fla., while the $32 million Bar-Cons FCU in Columbus, Ind., said it has committed to the Sharetec System from Bradford-Scott Data Corp.
The 15,900-member Scient FCU currently runs on the UltraData platform also from Harland Financial Services, according to the Technology Survey from Callahan & Associates, while Bar-Cons is currently an Open Solutions customer.
Bar-Cons cited the need for up-to-date technology, service reliability and training support in its decision to switch to Bradford-Scott, one of four regional owner-distributors of the Sharetec platform now in use at about 290 credit unions.
Scient cited the PhoenixEFE system’s open architecture and support for business loans and deposits, as well as the ability to consolidate vendor relationships.
Harland Financial Solutions began marketing the PhoenixEFE system to the credit union market after it was piloted at three credit unions. It’s now been licensed by five credit unions and more than 200 banks, the company said, while more than 270 credit unions run on the UltraData Enterprise Core solution.