Rainier Pacific Bank Selects Phoenix™ System to Help Expand
Commercial Customer Base and Maintain High Service Quality
Lake Mary, Florida (September 8, 2008) – In an effort to streamline its technology infrastructure, grow market share for commercial accounts and deliver a better customer experience, Rainier Pacific Bank, a $900 million-asset institution based in Tacoma, Washington, has selected Harland Financial Solutions’ Phoenix™ System as its enterprise core processing solution.
“There are many core solutions out there. We found that the Phoenix System’s commercial banking strengths and high-performance architecture will support our growth strategy well,” said John A. Hall, president and CEO of Rainier Pacific Bank. “As we grow and continue to respond to our customers’ needs, I am confident the Phoenix System and Harland Financial Solutions as a whole will be a key contributor to the value we deliver.”
Rainier Pacific also licensed Harland Financial Solutions’ DecisionPro® consumer credit application processing and Interlinq® E3® loan origination solutions. The bank’s IT staff will manage the enterprise solution in-house in its data center. As a LaserPro® compliant documents user since 1993, Rainier Pacific Bank will also enjoy straight through processing integration with the Phoenix System, resulting in greater automation and lower loan processing costs.
“Rainier Pacific Bank is an excellent example of what we call an “extended financial enterprise” – an institution responding to the growing demands of convergence and convenience across financial services,” said Raju Shivdasani, president of Harland Financial Solutions’ Enterprise Solutions Group. “Having transformed its business from a credit union to a savings bank, Rainier Pacific required an agile solution built on a modern architecture. We’re delighted to play a role in their success.”
The bank will implement the Phoenix System in 2009. Since 1994, the Phoenix System has served the needs of more than 150 banks, credit unions, and savings banks from de novo to more than $5 billion in assets.
About Rainier Pacific Bank
The bank's holding company, Rainier Pacific Financial Group, Inc. has served the diverse financial needs of its customers primarily in the Pierce County market area of Washington State for over 75 years. Initially founded as a credit union in 1932, the bank converted to a mutual savings bank in January 2001 and eventually transitioned to a stock savings bank in October 2003. Over the years, Rainier Pacific has emerged as one of the region's most prominent and trusted financial institutions.
Rainier Pacific Bank is a Tacoma, Washington-based state-chartered savings bank operating 14 full-service locations in the Tacoma-Pierce County and City of Federal Way market areas. Rainier Pacific boasts a comprehensive line of both consumer and business products. Deposit products include savings, checking, money market, certificates of deposit, and IRA accounts. Lending products include commercial real estate loans, residential construction and land loans, consumer loans, first mortgage and home equity loans, personal lines of credit, and VISA cards. In addition to traditional banking products, Rainier Pacific is pleased to offer customers investment and financial management services through Rainier Pacific Financial Services, and an array of insurance products through Rainier Pacific Insurance Services. The investment and insurance services enable them to provide complete financial solutions for their customers and give them a unique advantage as a community bank.
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, item processing, enterprise content management, branch automation, customer relationship management, business intelligence, origination and document solutions, risk management, compliance training, financial accounting, open documents, mortgage solutions, electronic funds transfer (EFT), electronic banking and advisory services. The company is a wholly-owned subsidiary of Harland Clarke Holdings Corp., which also owns Harland Clarke and Scantron.
The information contained in this press release is accurate at the time of publication. However, service offerings and availability, relationships, contacts and other specified information may change over time.