Bankers' Bank of Wisconsin Selects Open Solutions' Enterprise-Wide Data Processing Platform.Increased operational efficiencies and access to critical data positions bank for future growth GLASTONBURY, Conn. -- Madison, Wis.-based Bankers' Bank A bankers' bank is a financial institution that provides financial services to community banks in the United States of America. Bankers' banks are owned by investor banks and may provide services only to community banks. recently selected Open Solutions Inc.'s[R] The Complete Banking Solution[R], a relational 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 platform for community banks, to address its enterprise-wide data processing needs. Open Solutions Inc. is a leading provider of integrated enabling technologies for financial institutions in 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. "Prior to selecting Open Solutions, we relied on the same core processing platform for more than 20 years," said Brian Kammerer, first vice president and 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. for Bankers' Bank Wisconsin. "We've experienced significant growth and realized we needed a more flexible and sophisticated core processing platform. Open Solutions' advanced open technology platform offers the flexibility, business functionality and third-party integration capabilities needed to support both our current and future needs. Post-implementation, we'll be able to automate many of our manual processes, as well as quickly release new products and services to our customers." Open Solutions' previous experience working with other bankers' banks was another critical deciding factor. "There are so few bankers' banks in the United States, it was critical that our core provider have experience working with our type of institution," explained Kammerer. "Open Solutions' vast experience with institutions of all sizes, coupled with their customer relationship philosophy, solidified our decision. We were impressed with the fact that Open Solutions continually solicits feedback from its clients and in turn uses that information for future releases and enhancements." Built on a powerful Oracle[R] 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. , The Complete Banking Solution's open architecture and customer-centric platform is designed to help financial institutions streamline both the front and back office applications A front office application is any software that has a direct relation to customers. In turn, a back office application has no such direct relation. Examples with a focus on customer service. The Open Solutions core platform offers banks a centralized view of its specific relationships with customers, employees and business partners. "We expect to increase operational efficiencies, as well as gain the ability to share information among key stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. within the bank," said Kammerer. "With Open Solutions, we'll have on-demand access to all our accounts in real-time - that is a huge competitive advantage. We'll also gain the ability to generate reports and make our customer data more actionable." In addition to The Complete Banking Union Solution data processing platform, Bankers' Bank will be implementing Open Solutions' Financial Accounting Suite and the deposit module to further streamline operations and improve the quality of its financial management. Louis Hernandez, Jr., Open Solutions chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said, "Open Solutions' primary objective is to offer a complete, enterprise-wide data processing solution that allows service institutions like Bankers' Bank to offer innovative products and services, deliver outstanding customer service and be competitive in their market. The open architecture of our platform makes it possible to support financial institutions of all sizes, including a more complex bankers' banks. We appreciate the opportunity to partner with the bank and we look forward to helping them achieve their business goals." 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 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, payments 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. and The Complete Banking Solution are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2007 Open Solutions Inc. All rights reserved. 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. |
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