Glastonbury, Connecticut – (The Hosting News) – September 15, 2006 – Web host and integrated enabling financial technologies firm, Open Solutions Inc., has been chosen by FAIRWINDS Credit Union, to implement Open Solutions’ relational core platform, The Complete Credit Union Solution (TCCUS), and other complementary applications to handle its enterprise-wide data processing needs.
Open Solutions is a provider of integrated enabling technologies for financial services providers across the United States, Canada and international markets. FAIRWINDS Credit Union has assets of $1.3 billion, 25 branches throughout central Florida and approximately 125,000 members.
Charles Lai, CIO at FAIRWINDS Credit Union remarked, ”We looked at our conversion as an opportunity to rebuild from the ground up, and with Open Solutions, we knew we had the right building blocks. Open Solutions provided the high level of implementation support you would expect in an endeavor so complex. Their implementation team is extremely knowledgeable and professional, and with their guidance, our credit union managed this process with fewer issues and less stress than similar conversions. We recognized early that every successful conversion has three elements: a successful technical change, a successful organizational change and solid member awareness. All three have to be well-executed for the overall conversion to be a success. We mailed materials to members as early as six months out to prepare them for our ‘metamorphosis’ – our slogan for the implementation. We educated members to look for the metamorphosis logo – a butterfly – which was their indicator that new conversion-related information was available.”
To help facilitate the organizational change, the credit union established weekly ”Branch Buddy” training sessions to supplement the core training curriculum developed at the beginning of implementation. Mr. Lai continued, ”We discovered that just weeks before implementation, we were still polishing interfaces and processes, and needed an effective avenue to get this information back to all our staff. The Branch Buddies took on this role to learn the latest enhancements each week leading up to conversion, and facilitated a knowledge share with their co-workers. During the implementation, the Branch Buddies also provided front-line support for general questions. Our target was for the Branch Buddies to field 80 percent of the general questions generated by staff during week one. They did an amazing job. We tripled the capacity of our existing member call center, increased our number of agents from 25 to 90 in preparation for the change, and expanded our operating hours during conversion.”
The credit unions’ operations were on a legacy system for almost 22 years. Mr. Lai added, ”Initially, we selected Open Solutions because their open architecture applications could support our future growth initiatives and provide a more comprehensive view of the member. The Complete Credit Union Solution allows us to develop customized products and offer more services for our business accounts.”
According to the company, FAIRWINDS’ strategy is to double its current number of branch locations, with a total of 50 branches established by 2008. Mr. Lai explained, ”Our members’ need for convenience drives our expansion plans, and we are excited by our partnership with Open Solutions and the opportunities it brings. We look forward to tailoring this system to enable the credit union to provide a wide variety of financial services, which will meet or exceed the needs of our membership.”
Louis Hernandez, Jr., Chairman and CEO of Open Solutions added, ”Open Solutions has developed an outstanding implementations process to ensure conversions are smooth and seamless. Our implementation team is highly qualified, hard working and dedicated to client satisfaction. We are fully committed to meeting the technological and support needs of FAIRWINDS Credit Union and look forward to a long partnership and playing a significant role in helping them achieve their business goals.”
Open Solutions is a provider of integrated enabling technologies for financial services providers across the United States, Canada and international markets. The credit union, which has 17 branches and more than 280,000 members, serves employees of Eastman Kodak Company, Wegmans Food Markets and other companies in the Rochester, N.Y. area. Open Solutions Inc. offers a product platform designed to integrate core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response, network services, web hosting and design, and payment and loan origination solutions. Open Solutions’ full suite of products and provides services to banks, thrifts and credit unions in the United States and Canada.
To learn more, please visit: www.opensolutions.com.