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Open Solutions Inc.[R] and Lowenstein and Associates, P.C. Strengthen Longstanding Partnership.

GLASTONBURY, Conn. -- Open Solutions Inc. and Lowenstein and Associates, P.C. announced that the companies have expanded their reseller agreement. The partnership began in 1994.

Since 1986, Lowenstein and Associates has been designing software solutions to automate and control the lending process.

The new agreement gives Open Solutions the ability to resell the Lowenstein Loan Grader product along with the existing middleware/interface product LenderLink. Simply put, Loan Grader is the data engine that drives internal control over loan review, including FASB 114, FASB 5 and FASB 157 compliance, by reviewing 100 percent of an institution's loans against a comprehensive set of objective and consistent review criteria.

LenderLink processes data from an institution's third-party products, such as loan origination software, and seamlessly interacts with Open Solutions' products for uploading loans and performing core system inquiries.

"Our relationship was built on trust, delivery of best-of-breed solutions, integrity and hard work -- all to ensure that client needs are always met," said Don Lowenstein, president and founder of Lowenstein and Associates. "Our mission statement is that we will always provide dynamic software tools and exemplary customer support to improve our client's bottom line."

"We are pleased to expand our reseller agreement with Lowenstein and Associates," said Bob Wilson, Open Solutions vice president of strategic alliances. "We believe in partnering with 'best-of-breed' companies that enable our clients to do more. We share a similar philosophy of providing cutting-edge technology as well as uncompromised client support. Adding their suite of accounting products will give our clients the opportunity to maximize their bottom line."

About Lowenstein & Associates, P.C.

Lowenstein and Associates, P.C. (LAAPC) is a licensed CPA firm specializing in software development and system consulting. Since 1986, LAAPC has provided innovative software solutions to a number of industries and covered a wide variety of computer platforms, including IBM mainframes, AS400s and PCs. The primary industry of focus, however, is banking. Within this sector, LAAPC's area of expertise is transaction-based processing, as well as interfacing "foreign" systems to each other.

About 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.

For more information about Open Solutions, visit Open Solutions 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 2009 Open Solutions Inc. All rights reserved.

Editor's 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.
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Publication:Business Wire
Date:Aug 12, 2009
Words:525
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