PLEASANTON, Calif. -- Harland Financial Solutions is best known in the credit union industry on the core processing side for its popular UltraData system, but a new core offering for credit unions is on the way.

Harland Financial Solutions said today that it is launching a new system that will build off the technology framework of its Phoenix System. Harland acquired the Phoenix System from Fair Isaac back in 2004. Phoenix is used by 75 banks in the U.S., 75 internationally, and 40 credit unions in Australia.

"It really is open technology. It is very much member, customer centric. It's a truly relational data base with the client at the center," said David McConney, executive vice president and general manager of Harland Financial Solutions' Credit Union Core Systems Group. "We have 10% marketshare in the $250 million and above [CU] segment. We want to protect that and grow that," he said.

The new system will be designed for CUs that offer more commercial bank products such as business loans, mortgage lending programs, and others.

He noted that the new system, which has yet to be named, will in no way replace UltraData. Currently 615 credit unions are UltraData clients. There will be four pilot UltraData credit unions for the new system. They will help test and shape the system and will eventually migrate to it. The new system is expected to hit the streets in 2009.

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Harland Financial Solutions to Release New Core Processing Solution for Credit Union Market

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