Introduction

Globally, financial institutions are experiencing a wholesale shift away from old legacy systems of the 60’s and 70’s to enabling technologies that are built on open standards, customer-centric, fully-integrated with CRM functionality, and real-time.

Most apparent in Europe, where the adoption of the Euro common currency has been a significant impetus for change, new spending for core systems and the implementation of more advanced technology is occurring faster now, and the rest of the world is following suit.

These global technology shifts, along with increased pressure on product diversification, increased competition, margin / spread compression, market demands and regulatory changes are now converging in an unprecedented manner, which amplifies their effects and continues to alter the competitive environment for the financial services market.

Recognizing these trends and converging forces, Open Solutions developed its powerful suite of enabling technologies to help financial institutions address these issues. With an open, relational, real-time platform, clients of Open Solutions can make better use of information technology with the ability to mine databases and identify the individual needs of customers. Financial institutions can take a customer-centric approach to doing business and rapidly bring new products and services to market, while delivering these services in a cost-effective manner, all with one solution.