|  Login

Windows in Financial Services keeps you informed on the latest information, products and applications of technology solutions delivered by Microsoft and its expanding alliance of partners.

Advertisement
 
Acord Event
Digipede eMail
 
   
     
Company News Archives
   
  Print    
     
Company News
 

Current Articles | Categories | Search | Syndication

Royal Credit Union Successfully Implements Open Solutions' Enterprise-Wide Data Processing Suite

Open Solutions Inc. (NASDAQ: OPEN), announced that Eau Claire, Wis.-based Royal Credit Union (RCU) has successfully implemented Open Solutions' enterprise-wide data processing platform, The Complete Credit Union Solutionr and other complementary applications. Open Solutions is a provider of integrated enabling technologies for financial institutions across the United States and Canada.

With $750 million in assets, 11 branches and approximately 105,000 members, RCU was organized in April 1964 to serve employees of Uniroyal and their families. In late1972, RCU received permission to add employee groups to its membership and was eventually granted a community charter. The credit union now serves members in 18 counties throughout western Wisconsin. Royal Credit Union offers many additional services to its members including educational seminars, and seven elementary and two high school sites in local schools.

RCU implemented Open Solutions' The Complete Credit Union Solution as well as e-Commerce BankerT (Internet banking and cash management); Telephone banking; and the new Financial Accounting Suite (including general ledger, accounts payable and fixed assets). The credit union also has plans to install cView (CRM/business intelligence) in mid-2006.

"The implementation of Open Solutions' platform went extremely well," said Jim Watts, CIO of Royal Credit Union. "Our members experienced no downtime in service whatsoever, and there were no significant issues that had to be addressed by our staff. I believe the overall success of the conversion can be attributed to extensive preparation efforts between our two organizations and how well our teams worked together to ensure everything was in order."

Six weeks prior to the implementation, RCU underwent a mock conversion to ensure the new system could handle the day-to-day activities it would face. Along with the team at RCU, Open Solutions' project analysts performed an on-site readiness assessment. The success of the mock conversion warranted the smooth implementation that would occur shortly after.

"The Complete Credit Union Solution is flexible, adaptable and scalable and will grow with the credit union's needs," Watts said. "We believe that it will help propel us into 2006 and meet our goal of improving member service."

Chairman and CEO of Open Solutions, Louis Hernandez, Jr. said, "Open Solutions designed and built its technology based on the objective of offering excellent options and solutions to our client financial institutions. As more and more financial institutions see the value of open technology, we're placing more resources behind our Implementation Department. We are confident our highly-qualified staff of professionals has developed a first-class implementation process for clients looking to move to our technology. Our client satisfaction scores are a testament to the hard work and dedication of our staff. As with all our clients, we will work closely with Royal Credit Union to assist them in accomplishing its business goals and initiatives."

About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic 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 tools, imaging, Check 21, interactive voice response and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts and credit unions in the United States and Canada 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 or by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.

For more information about Royal Credit Union visit www.rcu.org.

Previous Page | Next Page

 
  Print    
     
Powered by eMediaNation