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FOR IMMEDIATE RELEASE
Contact: Deborah (Deb)
Katz
Open
Solutions Inc.
860.815-5385
deb.katz@opensolutions.com
Open Solutions and
BANKDetect/CU-Detect Extend Partnership Agreement
— Financial institutions gain
access to advanced fraud and
anti-money laundering
solutions —
Glastonbury,
Conn., Feb. 2, 2010 – Open Solutions Inc.®,
a leading provider of integrated enabling technologies for financial
service providers across the United States, Canada and other
international markets, and BANKDetect/CU-Detect, a knowledge-based
technology company that focuses on loss prevention and compliance for
financial industries, announced they have expanded their eight-year
referral relationship into a more comprehensive reseller agreement that
will provide Open Solutions’ banking and credit union clients with
additional access to BANKDetect/CU-Detect’s robust collection of fraud,
abuse and BSA compliance solutions.
The
new agreement means Open Solutions will now offer BANKDetect/CU-Detect
products including new account, Office of Foreign Assets Control (OFAC)
and other identity-screening services that will provide options for basic
to advanced identity analysis and monitoring; account risk management
solutions that produce and maintain risk profiles for both fraud
prevention and compliance; and account activity analysis solutions for
risk detection, fraud prevention, anti-money laundering and
identification theft compliance.
“With
this agreement, Open Solutions can now offer our clients a full spectrum
of fraud prevention and risk compliance solutions, and our clients can
now opt for these solutions to be core platform-supported,” said David
Mitchell, Open Solutions’ senior vice president and chief marketing
officer. “We’re very confident in the BANKDetect and CU-Detect products
and staff, who have many years of intelligence and law enforcement
experience, both with domestic and foreign military and government
agencies. They’re not only knowledgeable — they also provide exceptional
customer service.”
Bob
Cofod, president and founder of BANKDetect/CU-Detect said, “We are very
pleased to have a closer relationship with Open Solutions and believe
this is the basis for significantly improving the fraud prevention and
compliance services available to Open Solutions clients. In particular,
the ability to integrate our services with core processes is a major
benefit to Open Solutions customers and provides the opportunity for
seamless prevention and compliance processes from account opening to
daily activity monitoring.”
About BANKDetect/CU-Detect
BANKDetect/CU-Detect, a division of
FRAUDetect, LLC, is a privately held knowledge-based technology company
based in Churchton, Md., just outside of Annapolis, Md. The company
focuses solely on fraud and abuse prevention for the financial industry
and develops and operates analytical systems using more than 30 years of
experience drawn from the U.S. national and defense intelligence
communities.
Fighting fraud and
supporting the nation's goals for homeland security are considered by
BANKDetect/CU-Detect to be serious endeavors and embrace deeper
responsibilities than are found in many ventures. Fraud is a significant
cost to society. Without viable means to stem its growth, the problem
will continue to increase. Both money laundering and terrorism financing
can involve even greater costs to the economy and to the security of the
population. BANKDetect/CU-Detect's purpose is to continually improve the
methods for detecting and preventing successful fraud and abuse.
Consequently, BANKDetect/CU-Detect is guided by certain principles that
help to assure our commitment to meeting those responsibilities. The
principles we apply to ourselves as individuals and as a company are:
Knowledge; Service; Quality; and, Morality.
For more
information, contact BANKDetect/CU-Detect at 5419 Deale Churchton Road,
#205, Churchton, Md., 20733-2404; call 410-867-8217 or visit the
company’s Web sites at www.bankdetect.com and www.CU-Detect.com.
About
Open Solutions Inc.
Open Solutions Inc.
offers a fully-featured strategic information management product platform
that integrates core 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, and expand and tap their trusted financial relationships,
client affinity, community presence and personalized service.
For more information about Open Solutions, visit Open
Solutions 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 2010 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 ©2010 Open Solutions Inc. All rights
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