Originally developed in 1994, the Phoenix™ System was one of the world’s first Microsoft ® Windows-based core processing solutions in financial services. Today, the Phoenix family of solutions serves more than 200 financial institutions worldwide, ranging in size from de novo to more than USD $5 billion in assets.
The Phoenix System helps financial institutions to offer competitive commercial and retail products, drive down costs and deliver superior customer experiences. The Phoenix System design divides responsibility for core processing functions among discrete, but fully integrated applications.
Relationship Management
The Relationship Information Manager (RIM) is the foundation of the Account Processing application and the heart of your account and customer relationships. Since RIM ties your customer and account relationships together, customers must first be setup in RIM before any accounts and loans can be added. Creating a customer RIM record allows you to define relationships for that customer (i.e. customer-to-customer and customer-to-account) and store a wide range of customer data including both personal and professional information on the customer for relationship management and marketing purposes.
Reporting and Analysis
Getting access to information for analysis and decision-making has never been more critical to your institution’s success. Phoenix Report Model is an integrated reporting and analytics solution designed to help non-technical business users to create reports and conduct analysis on Phoenix System data—without the need for SQL skills or database training.
Self Service and Branch Channels
Teller Processing
The Teller Processing application manages teller transactions in the system and performs inquiries on up-to-date customer and account information. Customer and account information is as recent as the previous nightly update. Teller can be configured to operate in an offline environment.
Internet Banking
Tailored to the requirements of local banks and their customers, the Phoenix System integrated Internet banking solution is called Fluid. Offered in partnership with our development partner, ITS, Fluid Internet Banking provides customers with secure 24/7 Internet banking capabilities. It provides both retail and corporate Internet banking services, as well as rich feature functionality with capabilities such as multi-currency, loan application on-line, interface to Swift network and more.
For retail Internet banking, Fluid delivers product quality, competitive functionality and information security in a packaged affordable Internet banking solution designed for local banks.
From a simple account review to sophisticated payment, transfer and self-service functionality, Fluid Retail Internet Banking provides the most compelling online experience that distinguishes your bank from the competition. Your bank will generate more revenue and reduce transaction costs while capturing and retaining your most profitable and sophisticated retail customers.
Automated Teller Machine (ATM)
Phoenix System offers two online ATM processing solutions: Online Acquirer ATM and Online Issuer ATM. Online Acquirer ATM allows the institution to process all transactions (on-us and not on-us) at their devices. Online Issuer ATM receives and processes only the institution’s transactions.
Loans
The Phoenix System supports all traditional installment, mortgage, line-of-credit and commercial lending functions within a single, unified application interface. The system’s loan processing capabilities enable your bank to balance product flexibility and the need to quickly develop loan products to meet the needs of corporate, business and personal customers with the sometimes competing needs of portfolio management. The system also tracks information necessary for profitability analysis and marketing functions.
Deposits
The Phoenix System integrates traditional time and demand deposit functions, including passbook, within a single, unified application interface. The flexibility of the deposit processing facility is designed in such a way to enable your bank to offer a personalized approach to products and services by giving you controls to quickly develop product offerings and manage the charge and fee structures of those offerings. In addition, it allows your bank to track all kinds of customer information for marketing and analysis purposes.
Back-Office Operations
Account Processing
The Account Processing application manages day-to-day business operations within your institution. It supports account setup and maintenance, online transaction processing, transaction batching, general ledger inquiries and transaction processing parameters.
System Administration
System Administration provides integrated controls for the system’s Relationship Information Management (RIM) facility, deposit and loan products, index rates, charges, teller and general ledger (GL). The system also provides a variety of other administrative functions such as assigning security privileges, setting up branches, etc.
Financial Management
General Ledger
With the Phoenix System integrated General Ledger your bank has a full multi-currency, feature rich tool for maintaining all traditional financial accounting functions. The Phoenix System General Ledger provides balance sheet and profit and loss reporting, budgeting, cost center accounting and executive information -- within a uniquely flexible framework of graphical controls and user-definable settings. In addition, the integrated General Ledger enables detailed charge and fee analysis.
Budgeting
The Budgeting application captures and analyzes budgeting data for general ledger accounts. You can use a variety of methods to input budget amounts including flat amounts and percentages, growth rates and distributions.
You can define an unlimited number of budgets; each budget is then subdivided into user-defined groups. A group can represent a cost enter, unit, branch, department, income or expense category, or virtually any other accounting division.
Holding Company
The Phoenix System Holding Company application combines general ledger reporting information for multiple subsidiary companies into a consolidated financial entity. Holding Company imports general ledger data from each affiliated company and provides its own built-in controls for running nightly updates, setting up holding company employee records and performing general ledger inquiries.
Holding Company generates holding company financial statements based on the consolidated general ledger positions of each subsidiary. Financial statements can then be produced based on your local currency or any other currency and rates you choose.
Technology
PhoenixXM
PhoenixXM enables external systems, including Teller, Platform, Internet Banking, ATM and Voice Response, to inquire, initiate monetary transaction authorization and capture for a financial institution’s accounts.
Database Schema and Maintenance
The Phoenix System is an open architecture relational database system that uses client/server technology. A central database stores transactions and data for all branches. This ensures real-time account information is available to all branches.