ABA members to benefit from proven core offerings and complementary image-enabled processing
GLASTONBURY, Conn., Jan., 30, 2008 - The American Bankers Association has endorsed Open Solutions' core data processing platforms The Complete Banking Solution® (TCBS) and TotalPlus® and the company's comprehensive suite of image-enabled item processing solutions.
"We believe that Open Solutions provides our members the tools necessary to increase operational efficiencies, offer a more comprehensive view of their customers and the ability to remain competitive in an increasingly turbulent market," said John Wolff, ABA executive director. "We are pleased to award TCBS, TotalPlus and their suite of image-enabled item processing solutions ABA's stamp of approval."
The Complete Banking Solution's open architecture and customer-centric platform is designed to help financial institutions streamline front- and back-office applications, while providing a centralized view of the bank's relationships with customers, employees and business partners. It is offered in an in-house or outsourced environment.
TotalPlus is designed to help banks seeking traditional outsourcing services streamline both front- and back-office applications by combining the control and access of an in-house system, while offering a reliable, fully integrated core processing platform in an outsourced environment.
Open Solutions' Imaged Payment Technologies Group offers complementary image-enabled item processing applications providing customized, scalable solutions designed to help financial institutions more efficiently manage operational processes, take advantage of image exchange while protecting against fraud, as well as create electronic statements and documents to meet the growing demand for online access to account information.
The ABA and its affiliate, the Corporation for American Banking, conducted a thorough product review and analysis of Open Solutions' TCBS and TotalPlus and imaging division, evaluating a wide range of factors including product functionality, regulatory compliance, management strength, financial soundness and customer service.
"We are honored to receive the ABA's endorsement of our core platforms and image-enabled product suite," said Mike Nicastro, SVP and chief marketing officer for Open Solutions. "We listen to our clients and respond by providing innovative technology solutions designed to address the growing list of challenges banks are facing in day-to-day operations. We realize not every institution faces the same obstacles and therefore tailor our offerings to meet client needs. Based on the individual needs of the financial institution, our team of professionals will devise the appropriate combination of applications and solutions to ensure the bank meets its business. The ABA's endorsement further validates the Open Solutions philosophy of creating client-driven solutions."
Open Solutions Chairman and CEO Louis Hernandez Jr., said, "Our commitment to our clients and to the industry is to continually provide innovative technology solutions that help them to better compete, provide cost-savings and efficiencies; to deepen and provide more intimate customer and service-oriented relationships, and finally, to give financial institutions a strong foundation for meeting their short- and long-term strategic goals. The ABA's independent review and endorsement of both our core and imaging offerings is a testament to the sophistication of our technology offerings. We strive to help even more ABA members achieve their strategic vision and serving their customers with continued excellence.
About American Bankers Association
The American Bankers Association brings together banks of all sizes and charters into one association. ABA works to enhance the competitiveness of the nation's banking industry and strengthen America's economy and communities. Its members - the majority of which are banks with less than $125 million in assets - represent over 95 percent of the industry's $12.7 trillion in assets and employ over 2 million men and women.
About Open Solutions Inc.
Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core data processing applications built on a single, centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, network services, HSAs, payments and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers throughout the world to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at email@example.com or by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.
Open Solutions Inc., The Complete Banking Solution® and TotalPlus® are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2008. Open Solutions Inc. All rights reserved.
Copyright ©2008 Open Solutions Inc. All rights reserved.