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Northern Tier Federal Credit Union Selects Open Solutions' Enterprise-Wide Data Processing Suite; Growing Credit Union Needed Flexibility and Control over Data Processing Operations.

GLASTONBURY, Conn. -- Open Solutions Inc.(R) (NASDAQ: OPEN), a provider of integrated enabling technologies for financial services providers across the United States, Canada and international markets, announced Minot, N.D.-based Northern Tier Federal Credit Union has selected its enterprise-wide data processing platform, The Complete Credit Union Solution(R), and complementary product suite to handle its core and ancillary data processing needs. Located on Minot Air Force base, Northern Tier FCU has $55 million in assets, approximately 11,000 members and four branches.

"We were looking for a comprehensive technology platform that would give us both flexibility and control over our business operations," said Darrell Roos, president of Northern Tier FCU. "With its scalable, open architecture, we believe that The Complete Credit Union Solution will allow us to customize the system and offer advanced products and services to our members. We have a solid growth strategy in place, so we needed an application that could grow with us and support our long-term goals."

The Complete Credit Union Solution is built on a powerful Oracle(R) relational database and is designed to help credit unions streamline both front and back office applications with a focus on improving member service. The Open Solutions fully featured strategic product platform is designed to provide credit unions with a more centralized view of its specific relationships with members, employees and business partners. It integrates core data processing with member-centric applications such as Internet banking, business intelligence, financial accounting, credit card processing, imaging and interactive voice response solutions.

Roos said, "The ability to effectively and quickly train employees to use the system is important. We want to spend more time serving our members and less time training our employees. Because of the advanced features and functionality that Open Solutions offers, our employees will be able to maneuver through the system with confidence and ease."

"We are looking forward to implementing the system and to providing new offerings for our members," Roos said. "We will use this technology as a tool to give our members a more comprehensive blend of products and services and enhance their overall banking experience."

In addition to The Complete Credit Union Solution, Northern Tier FCU will implement Open Solutions' e-Commerce Banker(TM) (Internet banking and cash management), telephony solutions and digital document applications.

"We believe our technology has the flexibility, data capacity and integration capabilities to deliver advanced functionality and scalability to our credit union clients' overall operations," said Louis Hernandez, Jr., chairman and CEO of Open Solutions. "Open Solutions is committed to providing focused solutions that allow financial institutions to offer more personalized products to their members, maintain a competitive advantage in the marketplace and exceed their business goals. We are pleased Northern Tier FCU has selected Open Solutions as a business partner and look forward to assisting them in accomplishing their goals and growth initiatives."

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 and design, and payment 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 and Canada 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 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 Credit Union Solution are registered trademarks 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 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 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, if we fail to adapt our products and services to changes in technology or in the marketplace, we could lose existing clients and be unable to attract new business. 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 under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended March 31, 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 to refer to the company.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
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Comment:Northern Tier Federal Credit Union Selects Open Solutions' Enterprise-Wide Data Processing Suite; Growing Credit Union Needed Flexibility and Control over Data Processing Operations.
Publication:Business Wire
Geographic Code:1USA
Date:Aug 9, 2006
Words:925
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