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FOR IMMEDIATE RELEASE
Contact: Deborah (Deb)
Katz
Open
Solutions Inc.
860.815-5385
deb.katz@opensolutions.com
Open Solutions Endorses Fifth Third Processing Solutions’
EFT Payment Services
— Expands strategic partnership relationship to
deliver extensive
electronic funds transfer capabilities —
GLASTONBURY,
Conn., March 24, 2010 – Open Solutions Inc.®,
a leading provider of integrated data processing technologies for banks
and credit unions throughout the United States, Canada and other
international markets, announced its selection of Fifth Third Processing
Solutions as a Preferred Partner for electronic funds transfer (EFT)
services. Fifth Third Processing Solutions is one of the payments
industry’s oldest and largest electronic processors, and Open Solutions
will promote Fifth Third Processing Solutions’ services to its financial
institution clients utilizing the company’s relational core processing
platforms.
The
relationship between Open Solutions and Fifth Third Processing Solutions
affords numerous benefits to clients of both organizations. Financial
institution clients may realize streamlined billing with a combined
single invoice that includes both their core and EFT services. In
addition, processing partners of both companies are able to take
advantage of preferred pricing. The lower costs, coupled with streamlined
billing activity, are designed to increase operational efficiencies for
mutual customers.
“We
value these preferred partner relationships and are pleased to expand our
relationship with Open Solutions,” said Royal Cole, president, Financial
Institution Services at Fifth Third Processing Solutions. “We are
confident that our best-in-class processing will allow Open Solutions to
deliver on their commitment to assist their clients and prospects with
quality programs. We look forward to working with and providing services
to their valued processing clients."
Fifth
Third Processing Solutions’ product suite includes ATM terminal driving
and monitoring, ATM and debit card transaction authorization and
processing, national and regional gateway services, comprehensive
ancillary services including fraud detection, card production, Rewards!
product and other consultative services. The company shares approximately
60 mutual clients running Open Solutions’ core processing platforms, DNA™ and TotalPlus®.
“We’re
confident in this agreement because Open Solutions and Fifth Third
Processing Solutions share the same philosophy: design and deliver
innovative technology and back it with superior customer service,” said
David Mitchell, chief marketing officer at Open Solutions. “Our mutual
clients will benefit greatly from our shared resources.”
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.
About
Fifth Third Processing Solutions, LLC
Fifth Third Processing
Solutions, LLC delivers innovative payment transaction processing and
acceptance solutions to create and support complex payment strategies for
merchants, businesses, and financial institutions around the world. A
pioneer in card payment acceptance in the early 1970s, Fifth Third
Processing Solutions is headquartered in Cincinnati, Ohio and is a joint
venture with Advent International and Fifth Third Bank, a subsidiary of
Fifth Third Bancorp (FITB).
As
a premier full service payment solutions provider, the Company provides
servicing solutions and product engineering for financial institutions’
and retailers’ credit card, debit card, merchant and private label
programs processing over 33.3 billion ATM and point of sale transactions
and over $315.5 billion in debit and credit card sales volume annually.
The Company supports over 180,000 merchant and financial institution
locations and 11,000 ATMs in 44 states and 11 countries. According to the
Nilson Report (March 2009), the Company is the fourth largest U.S.
merchant purchase transaction acquirer. Learn more at www.FTPSLLC.com.
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
reserved.
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