Multiple Credit Unions Expand Relationship With Open Solutions, Add DNA-sme Processing Platform

Posted: 2010-09-08 00:00:00

 Open Solutions Inc.^®, a leading provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, announced that three credit unions recently selected DNA-sme™ (Standard Market Edition) to address their enterprise-wide core processing needs. Gaining momentum among small to mid-size institutions, Open Solutions’ DNA-sme platform is now the underlying technology structure for 119 credit unions in the U.S.

 The recent additions include Lander, Wyo.-based Atlantic City Federal Credit Union ($77 million), Enumclaw, Wash.-based White River Credit Union ($47 million), and Atlanta, Ga.-based 1st Choice Credit Union ($19 million). The credit unions cited a common theme regarding the selection of Open Solutions — all three point to already strong and successful relationships with Open Solutions in their choice of DNA-sme.

Brian Rohrbacher, vice president of Atlantic City Federal Credit Union, also credits the long-term relationship with Open Solutions as one of the primary factors in the decision to select the DNA-sme platform. “We currently have a number of Open Solutions’ products installed in the credit union, including Internet banking, online statements and loan processing solutions. Open Solutions has a strong reputation in the credit union market and the success we’ve shared to date made our decision to implement their DNA-sme platform an easy one.”

DNA-sme is an open, flexible core system, built on a powerful, centralized relational database, designed to be a full-featured, easily implemented and competitively priced solution targeted toward the more traditional credit union market. Since its launch, DNA-sme continues to gain momentum among more traditional credit unions seeking a lower cost solution with significant functionality as well as the option to select either an in-house or outsourced processing option to support their initiatives.

Brandy Fielding, president and CEO of White River Credit Union, said, “For a credit union our size, DNA-sme was the most logical choice, both in terms of functionality and affordability. Open Solutions has a proven track record with our staff and, with limited in-house support, this is important. The DNA-sme platform will enable us to provide the same service as larger financial institutions, but without needing to add additional resources. In today’s market, this is critical to our continued success and growth.”

Sheilah Montgomery, president and CEO of 1st Choice Credit Union, said, “Our current system was becoming antiquated in terms of functionality. We looked at several options in the market, but after extensive review, we quickly narrowed our options to two providers. We have worked with Open Solutions for many years and they have demonstrated their commitment to our success. Ultimately our strong relationship with the team at Open Solutions solidified our decision to select the DNA-sme platform.”

 “We understand the challenges today’s credit union executive is facing, and as a result, we continue to invest in flexible technology solutions designed to meet their needs regardless of size or charter,” said Louis Hernandez, Jr., chairman and CEO of Open Solutions. “As demonstrated by the continued momentum of the DNA and DNA-sme solutions, credit unions of every size are looking for sophisticated and innovative approaches to enable better member service without further straining limited resources. I am very pleased to see the number of existing Open Solutions clients who are not only renewing each year, but also expanding their relationship to add additional technology solutions to their overall business strategy. As the market evolves, so does our approach to providing credit unions the technology and service they need to succeed.”

About Open Solutions Inc.

Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core 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, technology services, HSAs, 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.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2010 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.