PhoenixWorx Launches to Redefine Core Banking for U.S. Community Financial Institutions
ORLANDO, Fla. -- Following the successful acquisition of the Phoenix core system, MalauzAI digital banking, AnalyzerIQ analytics and ECM content management solutions, CORA Group officially launches PhoenixWorx into the U.S. banking market.
Already serving more than 200 organizations and now backed by one of the largest software conglomerates in the world, PhoenixWorx is bringing its established banking evolution suite integrated with a cloud ecosystem, comprised of more than 130 partners, to community banks, credit unions, and neobanks nationwide, providing true one-stop shopping for banking technology and the services to deliver it.
PhoenixWorx leverages extensible open architecture and embedded AI-enabled tools through its partnership with Microsoft to provide maximum flexibility and reliability for FIs. Featuring a modern banking processing core that can operate in both batch and real-time environments, a cutting-edge core-agnostic digital banking solution and a fully integrated data analytics platform, the PhoenixWorx product suite supports multilingual digital banking, and creation of custom workflows without software development, enabling faster Go To Market. Customer-led roadmaps and feature prioritization have made PhoenixWorx a trusted innovation partner for financial institutions looking to stay competitive in today’s ever-changing market.
Unique among its competitors in the marketplace is the PhoenixWorx’ “NOVA Banking” offering that combines their highly configurable MalauzAI digital banking and a lighter “sidecar” version of the Phoenix core to support the creation of new digital brands for financial institutions, embedded finance, nonbank financial entities & BaaS organizations alike.
“Technology partnerships are built on trust, vision, and results,” said Bryan Wilken, SVP Chief Information and Operating Officer for Bank Midwest. “With products like Phoenix and MalauzAI, Bank Midwest has experienced firsthand the value of a partner dedicated to helping financial institutions evolve and serve customers better. We congratulate the organization on its new name and look forward to continuing our shared commitment to innovation and growth.”
Financial institutions benefit most when utilizing the full suite of PhoenixWorx solutions in tandem as the native core integration between Phoenix, MalauzAI, AnalyzerIQ and ECM enables hyper-personalized experiences for account holders and streamlined processes for staff members.
“Through the enhanced data analytics, we were able to form better pricing strategies and bolster our revenues,” said Josh Cook, President and CEO, Community Choice Credit Union. “With Phoenix and MalauzAI working together, it is very intuitive and much easier to train and bring our employees up to speed to service our members’ needs.”
“This is an exciting time for the PhoenixWorx team and for our customers,” said Joe Gomez, President & CEO, PhoenixWorx. “With ownership that is committed to long-term stability and investment in innovation, we are positioned to build on the strong foundation that already exists and do so in a thoughtful way, in partnership with the financial institutions that we serve, to deliver modern solutions that have meaningful impact on their business.”
About PhoenixWorx
One of the first core banking providers to leverage open architecture, PhoenixWorx is a proven, cloud-based banking ecosystem that provides community banks, credit unions and neobanks with modern core, digital banking, analytics and content management solutions paired with a curated network of integrated third-party offerings designed to accelerate your financial institution’s growth.
PhoenixWorx is owned by CORA Group, a portfolio of Jonas Software, an operating group of Constellation Software (TSX: CSU). https://www.phxworx.com/
About CORA Group
CORA Group is a collective organization redefining advancement through the acquisition, strengthening, and growth of over 40+ independent software brands worldwide. Today, we are proud to serve over 50,000 customers in 10+ markets with industry-leading enterprise software and related services. CORA Group operates as one of the portfolios under Jonas Software, an operating group of Constellation Software Inc. This relationship reinforces CORA’s commitment to delivering industry-leading solutions and benefiting from the extensive resources and support provided by Jonas Software and Constellation Software Inc. Constellation Software is one of the world’s largest software companies, with over 1,500 acquisitions completed since its founding in 1995. Visit https://www.thecoragroup.com/ or follow CORA Group on LinkedIn.
