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FOR IMMEDIATE RELEASE
Contact: Marvin (Mickey) Goldwasser
Open Solutions
Inc.
860.652.3153
mgoldwasser@opensolutions.com
Open Solutions’ ABA-endorsed
Imaged-based Item
Processing Technology Selected by
Metropolitan Bank
- California bank implements
check imaging after
FED announces
San Francisco
processing site to close -
GLASTONBURY,
Conn.,
Nov. 18, 2008 – Oakland, Calif.-based Metropolitan Bank
announced it has selected Open Solutions Inc.’s ® imaged-based item
processing solutions for its Check 21 initiative. Open Solutions is a
leading provider of integrated enabling technologies for financial
service providers across the United States,
Canada
and internationally.
“With the San
Francisco check processing site soon to close,
it was imperative for Metropolitan Bank to find a cost-effective means of
processing checks,” said Stella Kong, vice president controller of
Metropolitan Bank. “There were many benefits associated with the
Check 21 legislation, including reduced courier costs, streamlined
processes and improved customer service through faster funds
availability. We felt that Open Solutions was the best partner in helping
us reap the full benefits of this technology, both internally and with
our customers.”
Open Solutions’ image-enabled item processing system drives a
wide range of check-processing transports and streamlines a financial
institution’s operations. In addition, the solution optimizes
workflow, enhances business flexibility and generates fee income. Key
benefits include improved funds availability, faster client service and
greater abilities for institutions to retain more accounts and save on
monthly mailing costs.
Louis
Hernandez, Jr., Open Solutions’ chairman and CEO, said,
“Since the passage of the Check 21 legislation, we have seen an
industry shift towards electronic payments. While changing the banking
industry, this move also provides institutions with invaluable
opportunities to update their technology and really move to the forefront
of the payments frontier. Our flexible and customizable technology allows
banks to implement what they need when they need it, with the assurance
that Open Solutions will be there every step of the way. We look forward
to working with Metropolitan Bank in their endeavor to create a solid
imaged-based payments strategy that provides the highest level of
operational success.”
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, technology services, wealth management,
payments and loan origination solutions. Open Solutions’ full suite
of products and services allows banks, thrifts, credit unions and
financial services providers in the worldwide 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. is a registered trademark of Open Solutions Inc. All other
company and product names may be trademarks of their respective owners.
Copyright 2008 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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Copyright ©2008 Open Solutions Inc. All rights
reserved.
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