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FOR IMMEDIATE RELEASE
CONTACT:
Andrew
McCaskill/Mary York
Media Contacts
for Open Solutions
678.781.7210/678.781.7221
media@opensolutions.com
Thousands of Financial
Executives Convene
at Open Solutions’ Client Conference
--Financial executives
encouraged to commit to excellence; focus on innovation--
GLASTONBURY, Conn., June 9,
2010 – 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, hosted its annual Client
Conference & Solutions Expo at the Gaylord Texan Resort and
Convention Center in Dallas, Texas, attracting more than 1,000 financial
services executives, industry professionals and partners from throughout
the world. Additionally, a Solutions Expo of nearly 70 conference
sponsors and commercialized partners provided an opportunity for
attendees to learn about the latest product solutions and services Open
Solutions offers.
During the welcome
address, the Chairman and CEO of Open Solutions, Louis Hernandez, Jr., highlighted some of the
company’s milestones and discussed some of the most recent product and
solution innovations. In particular, Hernandez recognized Simsbury Bank,
Open Solutions’ first client who initially signed in 1995 and upgraded to
the company’s leading-edge DNA™ platform earlier this year. Additionally,
he recognized the completion of the company’s transformation, which
included more than $100 million invested into technology, products,
people and process improvements.
Additionally,
the company announced plans to introduce an industry game-changer into
the marketplace: DNAcreator. This latest technology will further increase
the openness of Open’s product line by providing clients and partners the
ability to design, build and share their own features built on the DNA platform. As a result, many of the traditional barriers to implementing
changes to the core system, including cost and lack of resources, will be
eliminated for DNA clients. Open’s DNA clients will no longer have to
wait for the next release to take advantage of features and
functionality. They’ll be able to build apps as needed and install them
on top of the core database. The company expects to make the DNAcreator
available to a select group of clients in September, with a full roll-out
sometime thereafter.
“The client
conference is a significant event for our entire staff, as well as our
family of clients,” said Hernandez. “It is an opportunity for us to collaborate
on new ideas, reflect on the past year and share best practices. We value
our clients and the significant role they play in advancing our
organization. I believe the high renewal rate, nearly 100 percent to date
in 2010, coupled with the increasing number of clients who serve as
references for prospects, speaks directly to how much we value and
incorporate our clients’ suggestions. The feedback we receive at the
client conference and throughout the year directly influences Open
Solutions’ product roadmaps. I am extremely proud of the improvements
we’ve made and credit most of our achievements to the strong partnership
we have with our clients.”
Presentations were given by industry thought leaders, peer groups
and Open Solutions executives on current trends and issues.
Client-specific sessions offered interactive dialogue with Open
Solutions’ development and client service teams to discuss ideas and
develop technology-based strategies for growth and efficiency.
“The client conference was a great opportunity to highlight our
mutual achievements, as well as discuss future initiatives,” said David
Mitchell, senior vice president and chief marketing officer for Open
Solutions. “We have a plan in place to further incorporate Lean Six Sigma
methodology into every aspect of our business, including corporate-wide
training. Moving forward, we have put procedures in place to ensure
client satisfaction levels continue to improve, and that every client has
the same experience. During the conference, we announced the launch of a
customer experience program that will map the voice of the client and
will attach measurable metrics to ensure we are continuously improving in
this area.”
Attendees of the conference participated in informative workshops
and interactive demonstrations of the relational core data processing
platforms (DNA, TotalPlus® and DNA-sme™), Internet banking,
interactive voice response/telephony, teller capture, remote deposit
capture, imaging, loan origination, financial accounting, CRM/business
intelligence and digital document solutions.
The client conference also marked the global release of Chairman
and CEO Louis Hernandez, Jr.’s new book, “Too
Small to Fail: How the Financial Crisis Changed the World’s Perceptions”
(AuthorHouse). The book illustrates how the rate of change impacting the
financial services industry is accelerating. Hernandez notes that the
industry has been slow to respond to change and how the focus on the
recent economic crisis uncovered fundamental problems that financial
institutions have been avoiding.
“The
book examines the vitality and energy that in years past characterized
the financial services industry,” commented Hernandez. “It was only
fitting that the book be launched at the client conference, which is such
a strong example of camaraderie and collaboration. Many of our clients
will be responsible for shaping the next chapter in the financial
industry. The book is a call to action to all financial executives to
emerge from the crisis with a renewed focus on innovation and excellence.”
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, wealth management, interactive
voice response, technology services, 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, and expand and tap their
trusted financial relationships, client affinity, community presence and
personalized service.
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 2010 Open Solutions Inc. All rights reserved.
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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 ©2010 Open Solutions Inc. All rights
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