MC Systems Acquires Phoenix International to Transform Finance in the Caribbean, LATAM and Africa

In a deal set to power a new financial landscape, MC Systems, the technology member company of The Jamaica National Group, has acquired Phoenix International, a world leading core banking platform, built with trusted Microsoft technology, to enhance their suite of financial services in the Caribbean, Latin America and Africa.

This solution will enable financial institutions to rise above their competition, transform their business and deliver superior customer service, at an affordable price.

Dwayne Russell, general manager, MC Systems said the acquisition, along with its existing technology suite of innovative tools and solutions, will provide clients with one of the world’s most trusted and innovative core banking solutions.

“Its unique architecture makes what could be a complicated process for clients incredibly simple and crucially, far more affordable than competitive solutions,” said Mr Russell.

“We are incredibly excited for our clients and the exciting future this offers them here, in the Caribbean, Africa and in the Americas. We want to make what may seem complex simpler, and also more secure. Financial services must transform to remain critical utilities of the future, and we, at MC Systems, are primed to drive success for our clients, countries and our people,” he added.

Mr Russell said MC Systems is making channel transformation affordable for financial institutions from the outset and will continue to provide cost savings throughout the business over time, while improving operational efficiency and service.

“MC Systems understand that it’s not enough to have the best solutions; the team provides guidance and support during the entire digital transformation…a transformation that is supported and seamless,” he said.

Dmitri Dawkins, commercial director, Phoenix International, MC Systems, said that throughout MC System’s history, the company has served clients industry-leading solutions to help them reach their full potential.

“As the industry has evolved, so has our solutions, strategy and portfolio. Our family of solutions offer opportunities for clients and brands across the region, to futureproof their businesses securely and with ease. Our clients are our partners, so their success is our success. Our expertise, along with our incredible client support programme, means they can look to the future with confidence and security. They can rise above the rest,” he emphasised.

Phoenix International adopts an enterprise scale approach that integrates with existing infrastructure, making the once complicated, simple.

Mr Dawkins said at the heart of Phoenix International is a high-performance transaction processing and account servicing engine that takes full advantage of a unified platform. The open architecture on which the Phoenix International database is built, securely affords open and easy access to customer and account data.
“It uses Microsoft technologies throughout every tier of the architecture, from the development environment to the user experience, integration to the database and server operating system. Uniquely, Phoenix International houses non-core modules like teller, collections, relationship pricing and card management, all in one place,” he said, noting that this approach ensures consistent customer information is available throughout the entire business and allows users to build in-depth customer profiles beyond industry standard.

MC Systems has pioneered financial solutions across the Caribbean market for more than 40 years and has created the ultimate future customer experience and solution suite to solve this problem. Always one step ahead, it is once again set to transform the industry.

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The Caribbean Association of Banks, Inc. is the representative body and recognized voice for banks and other financial institutions in the Caribbean. We seek to influence policies and legislation which impact the sector by advocating on our members’ behalf and participating in the global network of similar institutions.

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