Open Solutions Inc. (NASDAQ: OPEN), announced that Baltimore-based Securityplus Federal Credit Union has selected Open Solutions' enterprise-wide data processing platform, The Complete Credit Union Solutionr (TCCUS) and other complementary applications. Open Solutions is a provider of integrated enabling technologies for financial institutions across the United States and Canada.
Securityplus FCU, formerly the SSA Baltimore Federal Credit Union, was originally founded in 1938 to serve the financial needs of Social Security Administration (SSA) employees. Today, it is one of the largest credit unions in Maryland with more than $288 million in assets and over 37,000 members, encompassing the Baltimore-area offices of the SSA, Centers for Medicare and Medicaid Services as well as more than 100 local companies and organizations.
The institution's primary mission is to build financial relationships with its members. According to Justin Rawlings, vice president of Information Systems at Securityplus FCU, The Complete Credit Union Solution fits nicely into Securityplus's objective of continually improving member relationships and making living more affordable. The credit union cited three main reasons for selecting Open Solutions as its data processing partner. First, Open Solutions' flexible open system architecture allows for hardware choices and easier integration with third-party vendors. Second, the scalability of the open core platform allows unlimited field sizes, product types and field values to sustain projected credit union growth, allowing management to easily create detailed relevant reports in any variation. Lastly, Open Solutions' CRM/business intelligence cViewO relationship management tools support Securityplus' new name, branding and slogan promise of "Spend Life Wisely," while eliminating the need for additional complex and costly software. It also offers intelligence tools to effectively collect meaningful member data to build more diverse products and effectively service members.
Rawlings continued, "Open Solutions demonstrates a commitment to proactive development of The Complete Credit Union Solution and its integrated complementary products as technology and industry needs shift. In addition, we believe that Open Solutions demonstrates responsiveness to client enhancement requests and spreading the benefits of enhancements amongst all their clients."
In addition to The Complete Credit Union Solution core data processing platform, Securityplus FCU will implement Open Solutions' cView Relationship Management Tool; Mortgage Management System; Financial Accounting Suite; Premium Overdraft Protection; Asset Collection Management System; Interactive Management Center (IMC); and Channel Management Center (CMC) applications.
Louis Hernandez, Jr., Open Solutions chairman and CEO, said, "Open Solutions designed its products and services to allow credit unions to offer more personalized products to their members. More and more financial institutions are realizing the importance of open architecture technology, and we, in turn, continue to dedicate resources to our development, client care and implementation departments. We are committed to continually offering solutions that allow financial institutions to conduct business the way they want. Open Solutions continues to focus on meeting the ever-changing demands of today's financial services environment."
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, network services, Web hosting and design services, and payment 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 at mgoldwasser@opensolutions.com by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.