Glastonbury, Connecticut – (The Hosting News) – August 17, 2006 – Web host and integrated enabling financial technologies firm, Open Solutions Inc., has been selected by Minot, N.D.-based Northern Tier Federal Credit Union, to provide its enterprise-wide data processing platform, The Complete Credit Union Solution.
In addition, Open Solutins will provide its complementary product suite to handle Northern Tier’s core and ancillary data processing needs. Located on Minot Air Force base, Northern Tier FCU has $55 million in assets, approximately 11,000 members and four branches.
Darrell Roos, President of Northern Tier FCU offered, ”We were looking for a comprehensive technology platform that would give us both flexibility and control over our business operations. With its scalable, open architecture, we believe that The Complete Credit Union Solution will allow us to customize the system and offer advanced products and services to our members. We have a solid growth strategy in place, so we needed an application that could grow with us and support our long-term goals.”
The Complete Credit Union Solution is built on a powerful Oracle relational database and is designed to help credit unions streamline both front and back office applications with a focus on improving member service. The Open Solutions fully featured strategic product platform is designed to provide credit unions with a more centralized view of its specific relationships with members, employees and business partners. It integrates core data processing with member-centric applications such as Internet banking, business intelligence, financial accounting, credit card processing, imaging and interactive voice response solutions.
Roos continued, ”The ability to effectively and quickly train employees to use the system is important. We want to spend more time serving our members and less time training our employees. Because of the advanced features and functionality that Open Solutions offers, our employees will be able to maneuver through the system with confidence and ease. We are looking forward to implementing the system and to providing new offerings for our members. We will use this technology as a tool to give our members a more comprehensive blend of products and services and enhance their overall banking experience.”
In addition to The Complete Credit Union Solution, Northern Tier FCU will implement Open Solutions’ e-Commerce Banker (Internet banking and cash management), telephony solutions and digital document applications.
Louis Hernandez, Jr., Chairman and CEO of Open Solutions offered, ”We believe our technology has the flexibility, data capacity and integration capabilities to deliver advanced functionality and scalability to our credit union clients’ overall operations. Open Solutions is committed to providing focused solutions that allow financial institutions to offer more personalized products to their members, maintain a competitive advantage in the marketplace and exceed their business goals. We are pleased Northern Tier FCU has selected Open Solutions as a business partner and look forward to assisting them in accomplishing their goals and growth initiatives.”
Recently, Open Solutions reported revenues for the second quarter of 2006 increased 127 percent to $107.1 million, from $47.1 million for the second quarter of 2005.
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.