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Open Solutions Sells CRM to Tampa Credit Union
 TMCnet Contributing Editor
Open Solutions Inc. has announced that Tampa-based GTE Federal Credit Union has implemented Open Solutions' enterprise-wide data processing platform, The Complete Credit Union Solution, and "other complementary products."
Open Solutions sells enabling technologies for financial institutions in the United States, Canada and other international markets.
With more than $2 billion in assets, 39 branches and approximately a quarter million members, GTE is expanding both through acquisitions and member growth. Based on open architecture, Open Solutions' sophisticated member-centric relational data processing platform is now the underlying core technology for all of GTE's product and service delivery initiatives.
"Prior to the implementation, we relied on the same system for 23 years," said GTE Senior Vice President of IT John Thompson.
Early this year Livonia, Mich.-based Co-op Services Credit Union selected The Complete Credit Union Solution and "other complementary applications" to address its data processing needs. The credit union has approximately $280 million in assets, 45,000 members and six locations.
The Open Solutions product is built on a single centralized Oracle (News - Alert) relational database and offers Internet banking, cash management, CRM, business intelligence, financial accounting tools, imaging, digital documents and a bushel of other services.
"We took the opportunity to evaluate what our credit union really needed in a core operating system, both for now and into the future," said Tony Carnarvon, CEO of Co-op Services Credit Union. "To get to the next level, we needed an open architecture system that was flexible and would help us gain operational efficiencies across the credit union."
The Complete Credit Union Solution is a relational, enterprise-wide core data processing platform designed specifically for credit unions.
In December Grand Forks District Savings Credit Union, a community-based credit union located in Grand Forks, British Columbia, selected Open Solutions Inc.’s Complete Credit Union Solution to handle its core data processing and member service.
Grand Forks District Savings’ data processing will be delivered through Open Solutions Canada’s data centre in Vancouver.
And in November, Open Solutions announced that Infolink Services Ltd. has implemented Open Solutions Canada's POSH switch, secure switching for processing ATM and Point of Sale transactions.
David Sims is a contributing editor for TMCnet. For more articles please visit David Sims' columnist page. Asynchronous Transfer Mode (ATM) | X | | ATM is a fast cell - connection-oriented digital data communications transport protocol. It uses fixed length data payload of 48 bytes/octets (octet is the international term for byte) plus 5 octe...more |
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