USAlliance Federal Credit Union Selects Open Solutions’ TCCUS: DNA Core Platform

(allCUnews.com) - Open Solutions Inc.®, a leading provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, announced USAlliance Federal Credit Union has selected The Complete Credit Union Solution®: DNA, an enhanced relational core processing platform, to modernize the credit union’s information technology operations.

USAlliance was chartered in 1966 and provides financial services to several counties in Massachusetts, as well as employees at companies such as IBM and American Express in New York. With $700 million in assets and 50,000 members, the Credit Union operates 14 branches across New York, New Jersey and Massachusetts. After an extensive search process, Bruce Simons, senior vice president and chief information officer at USAlliance, cited member-centricity, the strengths of a relational database and integration capabilities as the primary reasons for choosing Open Solutions.

“Our institution was running on a core platform that was built in-house more than 40 years ago,” said Simons. “We recognized that in today’s market, we needed a more holistic view of member information and a relational database that would drive efficiencies throughout the Credit Union. Open Solutions’ offering was the only one in the marketplace that offered us the flexibility to grow and expand our member base, while allowing us to provide excellent member service through personalized, real-time information. Open Solutions takes a unique, modern approach to the technology solutions offered that we did not find with other vendors or their applications.”

Open Solutions’ TCCUS: DNA enables credit unions to manage member relationships versus single accounts by presenting a full member view. Simons added that having this level of information would significantly help the credit union market and offer the right product to the right member at the right time. “The Credit Union will also be able to grow sales through informed targeted marketing. With aggressive plans for growth in the future, Open Solutions was the partner that would best help us with those endeavors.”

The Complete Credit Union Solution: DNA is built on a powerful, centralized Oracle® relational database designed to be an open architecture application, creating the flexibility necessary for running a service-oriented financial institution. By capitalizing on the strength of Open Solutions’ unique universal data model and .NET design, the platform helps credit unions streamline both front- and back-office processes and creates a centralized view of members, employees and business partners.

In addition to The Complete Credit Union Solution, USAlliance will also implement Open Solutions’ ReportWizard™, Digital Document Solutions (DDS), Maxxar Telephony Solutions, eCB, Financial Accounting Suite (FAS) and the Workload Automation Suite provided by alliance partner UC4.

“Today’s economic conditions and the cautious mindset of consumers make it imperative that credit unions connect with their members. Leveraging sophisticated technology to provide thorough, efficient and personalized service is an important way to make that connection,” said Louis Hernandez, Jr., Chairman and CEO of Open Solutions Inc. “The flexibility of Open Solutions’ dynamic platform and integrated product suite is used to help credit unions such as USAlliance combine a centralized view of member information with a relational core database to increase operational efficiency throughout the organization. We look forward to a strong relationship with USAlliance and helping the Credit Union grow in the years to come.”

About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic information management 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 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, to 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 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.