JACKSONVILLE, Fla.--(BUSINESS WIRE)--FIS™(NYSE: FIS), today announced that its HORIZON™ Banking Solution achieved a successful sales year in 2009, securing 16 multi-year new core processing contracts with financial institutions throughout the country. FIS is one of the world’s largest providers of banking and payments technology and was recently recognized as the most admired core banking vendor by Aite Group.
“Cardinal Bank has built a solid reputation in the industry for understanding the banking needs of customers and providing innovative solutions that set us apart from our competitors. FIS shares these philosophies and consistently demonstrates why they’re one of the leading providers of solutions to the banking industry”
Through its fully integrated suite of applications and innovative functionality, HORIZON is meeting the strategic needs of the community bank segment. Marking another achievement, FIS’ HORIZON accomplished a sales milestone in October 2009 by completing five new multi-year core processing agreements with financial institutions for the month.
Cardinal Bank, the approximately $2 billion asset sized banking subsidiary of Cardinal Financial Corporation (Nasdaq: CFNL), was one of the latest clients to sign up for HORIZON. The bank signed an extensive agreement to deploy FIS’ HORIZON core banking system along with the following HORIZON modules:
- HORIZON Teller for front-end services
- HORIZON ACquire®, an enterprise content management solution
- HORIZON ALLView® for document imaging
The bank is implementing a full suite of FIS banking and payments solutions, including bill payment, Internet banking, telephone banking, card production services, and risk and compliance. Cardinal Bank is also leveraging the integration between the FIS Electronic Funds Transfer (EFT) system and HORIZON's card management application to provide state-of-the-art ATM and debit card services to their customer base – resulting in streamlined and efficient processes at its branch platform. Further strengthening the relationship, Cardinal Bank will also have access to the NYCE Payments Network, a leading U.S. electronic payments network and an FIS company, and the InterCept Switch surcharge-free networks as part of its implementation.
“Cardinal Bank has built a solid reputation in the industry for understanding the banking needs of customers and providing innovative solutions that set us apart from our competitors. FIS shares these philosophies and consistently demonstrates why they’re one of the leading providers of solutions to the banking industry,” said Alice Frazier, executive vice president, office of the chairman, Cardinal Bank. “Our investment in the FIS HORIZON system provides us with the advanced technologies necessary to meet our strategic business and growth objectives through streamlining processes, increasing cost efficiencies and improving our competitive position in the marketplace.”
Commenting on HORIZON’s recent success, Anthony Jabbour, executive vice president, FIS’ Financial Solutions Group stated, “FIS is continuing to build momentum with HORIZON sales in the marketplace through our commitment in developing a robust, fully integrated core banking platform with advanced functionality that meets the needs of financial institutions within the community bank market. Through our integrated solutions, FIS is powering banks with a solid combination of products and services to help clients not just meet, but exceed their strategic business goals.”
Continued Jabbour, “More and more financial institutions, like Cardinal Bank, are choosing HORIZON as its premier core solution of choice. We’re more than a technology provider, but a technology partner with a keen focus in understanding the specific needs of our banking clients and their valued customers.”
HORIZON is a highly integrated, core account processing solution equipped to meet the needs of financial institutions. It offers clients enhanced financial reporting capabilities, innovative transaction processing and advanced relationship management technology to help banks gain a more comprehensive view of their customers. HORIZON is built to run on the IBM® iSeries platform and offers flexibility in deployment options, including licensed in-house software or a variety of outsourcing options.
About Cardinal Financial Corporation
Cardinal Financial Corporation, a financial holding company headquartered in Tysons Corner, Virginia, serves the Washington Metropolitan region through its wholly-owned subsidiary, Cardinal Bank, with 25 conveniently located banking offices. Cardinal also operates George Mason Mortgage, LLC; Cardinal First Mortgage, LLC; Cardinal Trust and Investment Services; and Wilson/Bennett Capital Management, Inc. The Company's stock is traded on NASDAQ (CFNL). For additional information, please visit our Web site at www.cardinalbank.com or call 703.584.3400.
About FIS
FIS delivers banking and payments technologies to more than 14,000 financial institutions and businesses in over 100 countries worldwide. FIS provides financial institution core processing, and card issuer and transaction processing services, including the NYCE Network. FIS maintains processing and technology relationships with 40 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor's (S&P) 500® Index and consistently holds a leading ranking in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS employs more than 30,000 on a global basis. FIS is listed on the New York Stock Exchange under the “FIS” ticker symbol. For more information about FIS see www.fisglobal.com.
