Quincy Credit Union Extends Relationship with Open Solutions by Selecting its Relational Core Platform

April 25, 2008; 05:57 AM

GLASTONBURY, Conn.--(BUSINESS WIRE)--Quincy Credit Union announced it has selected Open Solutions Inc.’s® The Complete Credit Union Solution®: DNA, Open Solutions’ latest release of its popular relational core processing platform for credit unions, to address its enterprise-wide processing needs. Open Solutions’ latest core release, was officially launched earlier in the month at CUNA’s GAC conference and has more than 30 clients running on the product. Open Solutions Inc. is a leading provider of integrated enabling technologies for financial institutions throughout the United States, Canada and other international markets.

Quincy CU is based in Quincy, Mass. With $272 million in assets, more than 23,000 members and 62,000 accounts, Quincy CU was in need of the market’s best choice for service bureau data processing. As the credit union migrated from its current platform, an uncomplicated implementation process was needed to reduce disruption.

Shirley Laliberte, CFO/CTO for Quincy CU, said, “Our decision to select Open Solutions was based on our successful 14-year relationship we have had with the company. It was logical to choose Open Solutions for our core processing needs. We were also impressed with the sophistication of the Open Solutions’ platform, particularly with Microsoft’s .NET platform integration, all of which further improves scalability and security.”

Enhanced by Open Solutions’ advanced open platform and using .NET technology, The Complete Credit Union Solution®: DNA capitalizes on the strength of Open Solutions’ unique universal data model and design and its member-centric processes, while greatly enhancing workflow, flexibility, navigation and productivity. It helps credit unions streamline both front and back office processes and creates a centralized view of members, employees and business partners.

“With Open Solutions, we retain a long-term strategic partner that continuously improves its software without difficult conversion processes,” Laliberte said.

Open Solutions provides credit unions with a fully-featured strategic product platform, integrating core data processing with strategic applications such as Internet banking, business intelligence, financial accounting applications, electronic imaging, payment and interactive voice response solutions. In addition to TCCUS, Quincy CU is also implementing Open Solutions’ Credit Card Module, StreamLend^® Velocity, MarketVision, Dynamic Messaging, Report Wizard, safe deposit box and the Deluxe Check Order Interface.

“Quincy CU is a key player in the Massachusetts marketplace,” Louis Hernandez, Jr., Open Solutions chairman and CEO, said. “By selecting TCCUS, the credit union has demonstrated its financial services commitment to its membership base.”

“Open Solutions is dedicated to providing institutions like Quincy CU with innovative solutions to sustain long-term strategies and members service,” he added. “By providing Quincy CU with an enterprise-wide core solution, the credit union remains proactive with industry trends, while continuing with a tradition of delivering innovative products and outstanding member service.”

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, digital documents, Check 21, interactive voice response, network services, Web hosting and design, payments and loan origination solutions. Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally 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.

Open Solutions Inc. and The Complete Credit Union Solution 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.

Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.