$1 Billion G&F Financial Group First Canadian Credit Union to Install

Open Solutions’ DNA Core Platform

—Credit union aids in efforts to bring latest version of core platform to Canadian market—

GLASTONBURY, Conn., May 6, 2010 – Open Solutions Inc.^® announced that G&F Financial Group of British Columbia, Canada, has successfully upgraded to the company’s DNA core platform, the first Canadian financial institution to upgrade. Open Solutions is a leading provider of integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets and powers more than 50 of the top 100 credit unions in Canada.

Originally founded in 1940 as North Arm Fishermen’s Credit Union, over the intervening years, more than 30 credit unions have come together to form what is now known as G&F Financial Group. Today, the credit union is the tenth largest in British Columbia, with more than $1 billion in assets under administration, 28,000 members and 12 branches serving Vancouver, Burnaby, New Westminster, Port Coquitlam, Surrey and Richmond. According to Richard Davies, CEO of G&F, the credit union decided to help bring the modern DNA core platform to the Canadian market.

Davies said, “We selected Open Solutions in 2006 because we knew their technology was the future of banking and we wanted to take part in the evolution of core systems in the Canadian market. So in 2009, G&F became a Canadian early adopter of the DNA core platform, working with a full team of development and implementation experts to ensure a smooth and seamless integration and to perfect the platform.”

“During the process, the Open Solutions team was incredibly responsive and attentive, making the implementation an exciting journey that we believe will greatly benefit financial institutions in Canada,” continued Davies. “Since the upgrade, we have increased functionality and flexibility, improved workflow and efficiencies, and can now maintain a 360-degree view of our members. We’re very pleased with this latest release and proud to have played a part in its Canadian expansion.”

“G&F used our ‘Train the Trainer’ option, in which we provided the initial training and they trained the rest of their staff,” said Jim Nocerino, the program manager of Open Solutions’ G&F implementation team. “They were definitely prepared, with very knowledgeable people who were very familiar with the product. And I think it helped that there was a real sense of partnership in the project, with Open Solutions and G&F working hand-in-hand.”

Built on a powerful, centralized Oracle^® relational database, DNA capitalizes on the strength of Open Solutions’ unique universal data model and design and its client-centric processes, while greatly enhancing workflow, flexibility, navigation and productivity. Enhanced by Open Solutions’ advanced open platform and using .NET technology, the solution provides the flexibility necessary for running a service-oriented financial institution and helps credit unions streamline both front- and back-office processes and creates a centralized view of members, employees and business partners. The platform is ideal for international markets because, unlike older legacy systems, Open Solutions’ relational database is able to support any institution anywhere in the world.

Another advantage over other systems is that DNA is available as an in-house or outsourced solution. G&F elected to outsource the system, transferring the day-to-day responsibility of running it to Open Solutions’ Vancouver Data Centre so they can focus fully on serving their members.

“We were honored that G&F Financial Group chose to partner with Open Solutions and helped us enhance the world’s best core platform,” said Louis Hernandez, Jr., Open Solutions’ chairman and CEO. “Their eagerness to become an early adopter of our DNA platform in Canada is testament to the innovation in technology that we provide, as well as testament to their dedication to enabling the Canadian market to benefit from the industry’s leading-edge core platform. We continue to be the preferred core provider among high-asset credit unions throughout the United States and Canada. G&F is the 19th billion-dollar-plus credit union to have selected Open Solutions since 2005. We represent more than half of the top 100 credit unions in Canada, and we look forward to partnering with even more credit unions like G&F to offer the DNA core platform product.”

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.

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.

###

To ensure delivery to your inbox,
please add pressreleases@opensolutions.com to your address book.