Bank of Granite Successfully Deploys Open Solutions ISCustomerDelivery.Expedited 30-Day Product Installation Helps Bank Secure Large Volume Commercial Account Relationship GLASTONBURY, Conn. -- Open Solutions Inc.[R] (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :OPEN), a provider of integrated enabling technologies for financial service providers across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and other international markets, announced that Granite Falls Granite Falls can refer to:
Open Solutions' ISCustomerDelivery is a fully featured document solution that provides value-added archive and research capabilities for a bank's commercial account customers. The application delivers images of the front and back of each check and deposited items, as well as critical data on all non-image based transactions, on a writeable CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). . ISCustomerDelivery streamlines the delivery process and provides instant access to item images, accelerates the research and account reconcilement processes and increases customer convenience, particularly with large volume commercial clients. "We had a prospective large commercial client who needed their statements on CDs and wanted the ability to search by check number and dollar amount," said Mark Stephens, SVP SVP S'il Vous PlaƮt (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul , CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. and director of operations at Bank of Granite. "To secure the business, we needed a CD-ROM customer delivery product up and running in about 30 days. We have been an Open Solutions customer for about 10 years and knew about the benefits of ISCustomerDelivery, so it was an easy choice. Open Solutions worked very hard to meet this strict deadline, and I am pleased that we were able to deliver the product to the customer along with their first statement." ISCustomerDelivery allows users to create virtual statements, perform data extractions and search checks and deposited items by date, amount or check number. The applications advanced capabilities allow multiple accounts to be included on a single CD-ROM, and support the option to print high-quality copies of statements, checks and deposits. "My experience with the Open Solutions Imaged Payments Technology Group has been great," Stephens said. "The effort they put into getting this product implemented in such a short time period allowed us to secure a commercial account that could become one of the largest deposit relationships for our bank. Having the ability to meet customer demand certainly gives us a competitive advantage in our market and builds important community relationships. ISCustomerDelivery is a very effective, feature-rich and user-friendly product." Marcell King, vice president, Open Solutions Imaged Payment Technologies Group, said, "Our goal is to help community financial institutions leverage technology to be more efficient, more profitable, more competitive and provide more compelling products and services to their market. This was an opportunity for us to partner with a client to accomplish all of those things with a single solution. Many vendors will give a client every reason why a timeline like the one we were given by Bank of Granite was too aggressive; the Open Solution family of clients, on the other hand, is a community. We had a full team of professionals doing their best to figure out every reason why we could make it happen. Beyond the easy-to-use, innovative solution we created, we're proud to have yet another instance where we've directly impacted an institution's asset and customer base for the better." In addition to ISCustomerDelivery, Bank of Granite has also implemented Open Solutions' ISCheck[TM], ISCustomStatements[TM], ISNetStatements[TM], ISNetWork[TM], ISProof[TM], ISLARPlus[TM] Migration Upgrade and ISStoragePlus[TM] applications. The Open Solutions image capture system has been in service for more than 15 years and drives a wide range of check-processing transports. Open Solutions' image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished streamlines a financial institution's operations, optimizes workflow, enhances business flexibility and generates fee income. This system can provide financial institutions with new opportunities for fee income through improved fund availability information, offer faster client service, retain more accounts and save on monthly mailing costs. About Open Solutions Inc. Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a applications built on a single centralized Oracle relational database relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. , with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting Making a Web site available on the Internet. Many ISPs host a few personal Web pages for an individual at no additional cost above the monthly service fee, but the address is subordinate to the ISP; for example, www.friendlyisp.com/pat_smith. and design, and payment and loan origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. 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
Danziger Goldwasser (German: Gold water of Danzig 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. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2006 Open Solutions Inc. All rights reserved. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. For example, we are dependent on the banking and credit union industry, and changes within that industry could reduce demand for our products and services. Factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices and other factors set forth in Part II, Item 1A. "Risk Factors," of Open Solutions' Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the three months ended September 30, 2006, as filed with the Securities and Exchange Commission. Editors 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 (1) (Open System Interconnection) An ISO standard for worldwide communications that defines a framework for implementing protocols in seven layers. Control is passed from one layer to the next, starting at the application layer in one station, proceeding to the to refer to the company. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion