Leading Analyst Firm Identifies Open Solutions as a “Leader” for DNA Core Platform
Open Solutions Recognized for Its Completeness of Vision and Ability to Execute in International Retail Core Banking Report
Glastonbury, Conn., October 25, 2012 – Open Solutions Inc.®, the leading provider of collaborative enterprise technology to community-based financial institutions worldwide, announced today that Gartner, Inc., a leading industry analyst firm, has positioned Open Solutions in the “Leaders” quadrant of its 2012 Magic Quadrant for International Retail Core Banking* report for its revolutionary DNA™ core processing platform.
The report, which evaluates the competitive landscape of the 19 “major movers” most active in the international retail core banking market, is written to assist bank CIOs by “focusing on what matters most — the relevance of vendor and product attributes to the alignment of critical business strategies.” After a rigorous evaluation of the qualifying core banking vendors and their platforms, Gartner identified Open Solutions as a “Leader”.
Highlighting a number of technology trends bank and credit union leaders should consider when evaluating core systems, Gartner states how “exposing core systems functionality for community innovation is the first step along a path influenced by an established trend for the consumerization of IT.” As the first core vendor to offer a core banking app store – the DNAappstore™ – Open Solutions is leading this trend by enabling its community of clients, partners and third-party developers to share custom created core applications that extend DNA in limitless new ways. This radical innovation empowers banks and credit unions to control their own technology futures, shorten time to market and generate new sources of revenue.
Open Solutions’ ground-breaking technology helps community-based institutions succeed in an environment where, according to Gartner, “increased scrutiny of foundational technologies is uncovering legacy core systems with more problems than benefits.” Open Solutions agrees with Gartner that “technology is the ‘big fix’ to outperform [your] competitors.” The state-of-the-art DNA platform provides community banks and credit unions a way to shatter the constraints of legacy technology.
Commenting on the report, Open Solutions chairman and CEO, Louis Hernandez, Jr., stated, “DNA has received broad recognition from leading analyst firms because it is a radically different core banking platform. We are pleased to be positioned in the Leaders quadrant by Gartner which we believe is a testament to the culture of innovation that has driven Open Solutions since the very beginning. DNA is a revolutionary core platform that can serve any institution, no matter its charter, location or currency, from a single code line. With nearly 600 clients worldwide and the first online marketplace for global collaboration, DNA is positioned to help community-based financial institutions work together to outperform, out-innovate and be more efficient than the largest financial institutions in the world.”
*Gartner “Magic Quadrant for International Retail Core Banking” by Don Free, September 26, 2012.
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Open Solutions Inc.
Open Solutions Inc.® helps community-based financial institutions around the world enrich their local economies by providing innovative technologies and insights that enable them to operate more profitably, efficiently and collaboratively.
Industry pioneers, Open Solutions revolutionized enterprise technology with DNA™, the first open, relationship-centered core banking platform built for global collaboration. This radically different approach to enterprise technology enables banks and credit unions around the world to leverage the power of community through DNAappstore™, the first-ever collaborative marketplace for user-created core enhancements.
Extending the power of DNA further, Open Solutions offers a full range of complementary software solutions for payments, item processing, distributed capture, internet banking, mobile banking, CRM, business intelligence, loan origination, financial accounting, account analysis, wealth management, digital document and interactive voice response. It also offers complete hardware solutions, plus independent industry insight and guidance from Raddon Financial Group.