CreditQuest Finastra (D+H Corporation)


Overview


The CreditQuest credit risk management offering of D+H Corporation stemmed from its 2013 acquisition of Harland Financial Solutions (rebranded as D+H in early 2014). Harland was a Florida-based banking software vendor that had a range of systems for its domestic US market, plus the Phoenix retail banking system and CreditQuest solution which had been sold internationally as well as at home. CreditQuest in turn stemmed from an acquisition of an


Israel-based company in 2007. It spans end-to-end credit management, financial statements management and analysis, project financing analysis, credit risk management, and credit portfolio management, reporting and analysis. It does not include its own models but allows users to deploy their own or third-party ones. Most of D+H/Harland’s 1300 core software clients are


based in the US (in addition to Phoenix, there are the Ultradata, Intrieve Advantage and Sparak core systems which are purely domestic), with only ten per cent located elsewhere, according to the vendor.


The John H. Harland Company was arguably best known in the US as a provider of cheques and other printed products. However, in 2000, the company kicked off a period of acquisition of financial software companies. It began with Concentrex in that year, followed by Easy Systems, Sparak Financial Systems and Interlinq Software Corporation in 2002, Premier Systems Inc (which ran Harland’s acquired Ultradata


system on behalf of credit union clients) in 2003, and certain assets of Greatland Corporation and Mitek Systems in 2004. Also in 2004, it acquired Fair Isaac Corporation’s core system business unit, which included the Phoenix system. Fair Isaac had acquired this earlier in the year via its purchase of London Bridge Software. In February 2007, it was announced that Harland was to


be acquired by M&F Worldwide Corporation in a transaction valued at over $1.7 billion. On the product development front, Harland planned to focus on SQL Server and Microsoft technology as a whole. Aside from the core systems, D+H/Harland has the uBanking self-service and online banking solutions. This business came via an acquisition of a domestic vendor, uMonitor, in late 2010. The uBanking suite is offered in South Africa, the Middle East and the Caribbean, both directly and via partners (such as Deloitte in South Africa). By H2 2011, uBanking had around 150 takers, nearly all in the US. In March 2017, Vista Equity Partners, owner of Misys, announced the acquisition of D+H, in a deal estimated to be worth around $3.6bn. In June 2017, the two firms were merged to form Finastra, touted to be one of the largest banking technology companies in the world with more than 10,000 employees, 9000 customers across 130 countries.


Risk Management Systems & Suppliers Report | www.ibsintelligence.com


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