Open Solutions Launches Next Generation Online Banking Solution for DNA Platform
Alexandra Gardell Kreuter
Allison & Partners
A Holmes Report 2010 Agency of the Year
116 E. 27th Street, Floor 4 | New York | NY | 10016
Glastonbury, Conn., October 11, 2011 – Open Solutions Inc.®, a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets, has raised the bar for core banking platforms with today’s release of DNAweb, a new Internet banking solution integrated with the company’s flagship DNA core. With online banking firmly established as a critical self-service channel, DNAweb is built for the DNA platform to evolve with the changing needs of consumers and businesses while delivering a superior online experience with the latest Web banking features.
“DNAweb is another ground-breaking innovation for our DNA platform. It’s designed to empower community banks and credit unions to compete more effectively in an era of channel proliferation and rapid technology shifts,” said Louis Hernandez, Jr., chairman and CEO of Open Solutions.
Open Solutions created DNAweb with the latest application technology and sophisticated product architecture so the application can evolve with the ever changing online banking environment. With a highly-customizable interface, DNAweb helps banks and credit unions offer a more personalized online banking experience. Web savvy consumers and businesses have come to expect ease and simplicity while demanding the latest features. With this in mind, DNAweb will deliver a robust bill pay module (DNAbillpay), easy-to-use personal financial management tools, flexible inter-bank transfer capabilities and the convenience of remote deposit capture integrated in real time. Business customers will also benefit from an online banking application that streamlines cash management and improves business efficiencies by automating routine functions, like transferring and wiring money, making payroll deposits, paying bills and scheduling recurring tax payments.
Stanford Federal Credit Union, who pioneered online banking by being the first financial institution in the US to offer the service, has extended their innovative heritage by selecting DNAweb as part of their conversion to Open Solutions’ DNA core platform.
“Our technologically savvy members expect innovation and cutting-edge technology, which led us to choose Open Solutions,” stated Jim Phillips, senior vice president and chief information officer of Stanford FCU. “The best practices that we gain will allow us to better serve our community, become more relevant to the market and help support our growth, allowing us to ultimately take our business to the next level.”
By completely rewriting the company’s existing online banking product and using extensive Human Factors engineering practices to drastically improve the user experience, Open Solutions was able to create a solution built on contemporary technology focused on the current and future needs of financial institutions, like flexibility, customization, usability and scalability. DNAweb also helps reduce operational complexity and total cost of ownership for banks and credit unions by leveraging reconfigured application architecture, cascading style sheets (CSS) and modern interfaces. With online security always a critical concern, DNAweb features the latest technology to enforce the highest level of security currently available including multi-factor authentication, fraud detection and AES data encryption.
“With technology advancing at a staggering rate, we have developed DNAweb to continually evolve with changing consumer preferences,” said David Mitchell, executive vice president and chief marketing officer in charge of Open Solutions’ product strategy. “Financial institutions on the DNA platform will have the ability to enhance their online banking channel in powerful new ways to meet the changing needs of digitally-connected consumers and businesses.”
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 2011 Open Solutions Inc. All rights reserved.