Davis + Henderson Corp. announced Tuesday that it has rebranded its Harland Financial Solutions, Mortgagebot and Compushare properties to D+H.
Toronto, Canada-based D+H paid about $1.2 billion to buy Lake Mary, Fla.-based HFS from Harland Clarke Holdings Corp. last summer.
HFS said then it had about 5,400 credit union and bank clients in the United States, including credit unions that run the UltraData core processing platform, the Mortgagebot point-of-sale and loan origination systems and the LaserPro automated loan compliance solution.
“Leading technology products and solutions from these brands are now operating under the D+H brand, but will continue to use their existing product names. The move is aligned with D+H's long-term plan outlined in August 2013 … and is the next step in D+H's continuing evolution as a financial technology leader,” the new owners said in a statement.
New branding visuals and a new website that displays all product and service offerings delivered by the U.S. organization also were announced.
“Officially extending our entire offering into the U.S. under one brand is proof of our long-term commitment to serving banks, credit unions and other financial institutions,” said Gerrard Schmid, CEO of D+H.
The move adds to a history of ownership change for HFS. Two years prior to the most recent sale, Harland Clarke owner M&F Worldwide had been taken private in 2011 in a sale to financier Ronald Perelman's MacAndrews & Forbes Holdings.
Harland had become part of M&F Worldwide in 2007 and was named Harland Clarke after M&F Worldwide bought John F. Harland Company for $1.7 billion and made it a subsidiary of Clarke American and together they were dominant providers of paper checks.
Harland Financial Solutions then branched out from core processing and other back-office tools with the acquisition of account opening specialist uMonitor in 2010.
The UltraData platform was once in use by more than 500 credit unions. Now it is in use at 310, according to current data from Callahan & Associates. The PhoenixEFE platform, designed primarily for community financial institutions heavily involved in commercial lending, is in place at another four credit unions.
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