About Open Solutions

Open Solutions Inc. focuses on the financial services marketplace by providing state-of-the-art industry specific products and services. We provide mission critical technologies that enable our clients across the globe to strengthen relationships, improve productivity, drive new revenue, and reduce training and administrative costs. Our clients have grown to include some of the largest banks, credit unions, insurance providers, retailers and wealth management companies in the world.

Our vision, technology and service give our clients a distinct advantage over their competition. We develop, market and support an enterprise-wide suite of software, technology and services that includes relational core data processing, information management, risk management, e-commerce, wealth management, profitability tools, financial management, business intelligence, imaging, payments, asset retention and health care savings applications. As your technology partner, we strive to help you strengthen your relationships, improve productivity, and reduce overall costs associated with running your business.

At Open Solutions, we have a passion for helping our clients to better compete in today’s ever aggressive financial services marketplace. The beauty of our cutting-edge technology offerings is that they can be run separately or integrated together to provide our clients with a robust, secure, fully-featured suite of front-, middle-, and back-office applications and tools that operate efficiently, take advantage of our open architecture and limit the need for software customization.

Company Size – 2,100 employees

Client Base – approximately 5,800 clients using one or more of our products

Strategy –
Our objective is to be the leading supplier of software and services to our targeted market. Our strategy for achieving this objective includes:

• expanding the share of our historical market, which includes financial institutions which have an asset base of under $20 billion
• expanding our outsourcing business and reseller opportunities
• providing additional products and services to our installed client base, through both the internal development of new products and services and through acquisitions
• maintaining our technological leadership in the industry and,
• pursuing strategic acquisitions that complement our existing products and services and expand our client base

Market Opportunity –
There are approximately 18,900 financial institutions in the United States. Open Solutions believes that financial institutions, which have traditionally competed on the basis of personalized service, are facing increased challenges to improve their operating efficiencies. Open Solutions believes that financial institutions today are seeking more integrated, open, flexible, person-centric and efficient information technology solutions that:

• combine high performance, scalability, reliability and security with the advantages associated with relational and highly normalized (which means data are easily accessible and not stored redundantly) technology based on industry standards
• deliver new products and services to their customers/members quickly and efficiently without extensive custom development
• integrate easily with other applications used in the enterprise without expensive middleware
• offer quick and effective access to individual and account data in order to offer better, more customized services, monitor trends and performance and cross-sell services and products
• allow real-time access to customer/member data while preserving the financial institution’s ability to batch process large transactions
• accommodate, in a single application, multiple delivery channels, such as ATMs, telephone banking, Internet banking and wireless banking, as well as new delivery channels as they emerge

Open Solutions Locations –

Products:

Core Solutions

The Complete Banking Solution®: DNA – an open architecture enterprise processing application, which uses a real-time relational database and runs core processing operations for banks

The Complete Credit Union Solution®: DNA – an open architecture enterprise processing application, which uses a real-time relational database and runs core processing operations for credit unions

TCCUS-sme – is an out of the box implementation with the credit union generalist in mind. TCCUS-sme, also known as the Standard Market Edition, is an open relational core system designed to be a full-featured, robust, easily implemented and competitively priced solution intended for a broad user base of “Generalists”

Manager GOLD™ – Core data processing applications and operations for credit unions

cuStar – Core data processing applications and operations for credit unions

CyberSuite – Core data processing application for credit unions

TotalPlus®– mainframe processing system that serves commercial banks, savings banks, and thrifts with fully integrated, enterprise-wide automation. The TotalPlus platform supports front- and back-office requirements with the functional capabilities and operating flexibility necessary in the community bank environment

Wealthview – an integrated banking solution that synchronizes all of your service channels, so your customers can always see real-time account information.

cView™ – relationship management and business intelligence tools for financial institutions, get the complete picture of your customer/member relationships.

e-Commerce Banker™ – a fully-featured retail and commercial Internet banking and cash management product specifically designed to provide a financial institution’s end-users with a trusted online, real-time access point to financial information, as well as promote to a financial institution’s unique local identity.

Financial Accounting Systems – a full range of financial management solutions for general ledger accounting, asset liability management and profitability measurement.

Loan Origination Systems – Open Solutions provides a suite of comprehensive, easy-to-use loan origination solutions (consumer, commercial and mortgage) that are completely integrated with Open Solutions’ core data processing products.

Channel Management Center (CMC) – a powerful suite of applications and services that facilitates the building and processing of interfaces between disparate systems

Interaction Management Center (IMC) – relationship management complement to Open Solutions’ suite of real-time, enabling technologies. IMC is a browser-based application that provides call center and platform representatives with centralized access from multiple CRM and transactional systems in a consolidated environment.

Regulatory Management Toolkit – a suite comprised of Web-based products (self-assessment tools) and services delivered through trusted business partners. A bundled package with extensive scalability for institutions of all sizes, the Toolkit enhances operational efficiencies to facilitate your assessment, remediation and monitoring of key regulatory compliance requirements.

Interactive Voice Response (Telephony Systems/Maxxar) – a product line of Open Solutions that provides a suite of speech recognition, voice over IP (VolIP) and multi-media contact systems including contact center solutions, natural language speech recognition, interactive voice response (IVR) solutions and text-to-speech solutions.

Imaged Payment Technologies Group – Our imaging and item processing group offers financial institutions an efficient, affordable solutions that pay for themselves with reduced float and courier costs to transport checks. Customers and members can benefit too, from improved convenience, enhanced business services and better asset protection. Additional solutions include check fraud detection and prevention, archive solutions, browser-based research, statement processing, email statements, image statements and AutoMail.

Digital Document Systems (DDS) – provides a Web-based archival system for enterprise-wide access to scanned documents, reports, receipts and statements that are also easily accessible directly from the end user's workstation. Employees have the ability to scan documents into the system right at their workstations or from back office batch scanning. Additionally, customers/members can digitally sign receipts and documents that can be archived in the system. And with DDS’s powerful eStatement solution, viewing customer/member statements and other documents is effortless. The eStatement solution integrates with not only Open Solutions’ Internet banking application but also other popular banking applications on the market.

Remittance Systems – provides the solution for businesses and financial institutions that need to eliminate the inefficiencies of manual payments processing through an automated solution. With a combination of proprietary software tools and third-party check transport equipment, Open Solutions Remittance Systems does away with redundant processing steps; automatically captures and archives images of payments and their related coupons; provides for rapid retrieval for research purposes; and eliminates substantial overhead and operating time. Businesses of any type that average in excess of 500 incoming payments per day are excellent candidates for remittance processing.

Web Hosting and Design Services – provides clients with a secure means to promote their financial institution. Open Solutions’ failure resistant Internet connections, expert staff and suite of Web site management tools have been designed to give your employees the ability to update and manage your Web site simply and as often as needed.

Technology Services – enables clients to manage the interfaces between your multiple applications so there are no communications obstacles to hinder the efficiency of your network. Clients experience a reduction in both staffing requirements and the risk of technology obsolescence.

Corporate Financial Solutions – provides outsourced information processing in the area of asset retention, corporate banking, healthcare banking and insured deposit services for insurance companies and major corporations.

Raddon Financial Group (RFG) – offers clients strategic solutions designed to help improve overall performance. Through the CEO Strategies Group, RFG helps clients improve revenue, efficiency, margins and sales by analyzing customer profitability, branch performance, product penetration and the key drivers of ROA. RFG also helps clients evaluate new and existing branch locations and markets for expansion.

Payment Solutions Group– provides and runs the complex systems that financial institutions rely on to serve their customers, that people rely on to access their money and those merchants rely on to make sales to their customers. PSG designs, builds, integrates and operates advanced banking and payment technologies for processing centers, financial institutions, retailers, independent sales organizations(ISOs) and third-party organizations worldwide. Our payment products and services provide the connections that link card-based ATM and point-of-sale (POS) direct debit transactions with the appropriate financial institution accounts for authorization. PSG specializes in state-of-the-art, scalable, cost effective payment solutions, as both a supplier and user.