Innovative Bank Holding Company Selects Top Rated Weiland Account Analysis System
— Cadence Bancorp, LLC chooses Open Solutions’ Leading Weiland Account Analysis System to enhance growth —
Glastonbury, Conn., July 19, 2012 – Open Solutions Inc.®, the leading provider of collaborative enterprise technology to community-based financial institutions worldwide, announced today that Cadence Bancorp, LLC has selected Open Solutions’ comprehensive commercial account analysis suite, Weiland Account Analysis™, to support the growth of its business.
Headquartered in Houston, Texas, Cadence Bancorp is a bank holding company that was created to continue to help communities and business grow amid the global financial crisis by investing in the U.S. banking industry. Founded in 2010, today this fast-growing bank group has approximately $5.5 billion in assets and operates more than 100 branches across five Southeastern states and Texas. Having recently acquired Houston-based Encore Bancshares, Inc., Cadence required a robust commercial account analysis system to unify the bank fee billing operations of its multiple holdings and boost non-interest income.
“Cadence Bank’s first priority is to revitalize local communities by providing quality financial solutions tailored to suit customer needs,” said Myra Caldwell, senior vice president, treasury management at Cadence Bank, the company’s key operating subsidiary. “Key to this business strategy is the use of enhanced technology to ensure sound business decisions. Weiland Account Analysis will enable us to use one system for all of our commercial billing which means quick and accurate information for both our customers as well as our account managers.”
Cadence Bancorp will implement Open Solutions’ Weiland Account Analysis suite in an on-demand environment through Open Solutions’ Global Operations Center. According to IDC Financial Insights’ December 2011 IDC MarketScape: U.S. Commercial Account Analysis Software 2011 Vendor Assessment, Weiland Account Analysis is a market “Leader” with a “wide feature set” and “enthusiastic customer reviews”. As “a top-rated solution for its target market,” Weiland Account Analysis will enable Cadence Bancorp to revitalize the balance sheets of its subsidiary banks, helping them maximize non-interest income, operate more efficiently and better manage their 9,000 commercial accounts.
“We are pleased to welcome Cadence Bancorp to the Open Solutions family with our industry leading commercial banking solution – Weiland Account Analysis,” stated David Mitchell, executive vice president and chief product officer at Open Solutions. “We share Cadence Bancorp’s commitment to developing strong communities and its embrace of cutting-edge technology to drive growth and customer value. I am confident Weiland Account Analysis will help this new and innovative bank holding company succeed as it continues to invest in the banks and businesses that fuel our economy.”
About Cadence Bancorp, LLC
Cadence Bancorp, LLC, formerly Community Bancorp, LLC, is a bank holding company headquartered in Houston, Texas. Cadence Bancorp’s core leadership team raised equity capital commitments of $1.0 billion for the purpose of making investments in the U.S. banking sector, with a particular focus on banks that are well positioned to benefit from the equity capital, management and industry expertise Cadence Bancorp can provide. Today, through Cadence Bank, N.A., headquartered in Birmingham, Alabama, Cadence operates more than 100 locations across five Southeastern states and in Texas. As an extremely well capitalized financial organization, Cadence Bancorp is intent on supporting the economic growth of the communities it serves. Through exceptional customer service, relevant products and services, a disciplined credit and risk management framework, cost controls and the implementation of enhanced technology, Cadence has become a strong regional banking operation.
Open Solutions Inc.
Open Solutions Inc.® helps community-based financial institutions around the world enrich their local economies by providing innovative technologies and insights that enable them to operate more profitably, efficiently and collaboratively.
Industry pioneers, Open Solutions revolutionized enterprise technology with DNA™, the first open, relationship-centered core banking platform built for global collaboration. This radically different approach to enterprise technology enables banks and credit unions around the world to leverage the power of community through DNAappstore™, the first-ever collaborative marketplace for user-created core enhancements.
Extending the power of DNA further, Open Solutions offers a full range of complementary software solutions for payments, item processing, distributed capture, internet banking, mobile banking, CRM, business intelligence, loan origination, financial accounting, account analysis, wealth management, digital document and interactive voice response. It also offers complete hardware solutions, plus independent industry insight and guidance from Raddon Financial Group.
For more information, visit Open Solutions at www.OpenSolutions.com, like us on Facebook at http://www.facebook.com/OpenSolutionsInc, or follow us via Twitter @OpenSolutionsCC.
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