Palm Desert National Bank Selects Open Solutions' Enterprise-Wide Data Processing Platform
GLASTONBURY, Conn. --(Business Wire)-- Palm Desert National Bank recently selected Open Solutions Inc.'s(R) The Complete Banking Solution(R), a relational core data processing platform for community banks, to address its enterprise-wide data processing needs. Open Solutions Inc. is a leading provider of integrated enabling technologies for financial institutions in the United States, Canada and other international markets.
Based in Palm Desert, Calif., Palm Desert National Bank has approximately $411 million in assets, as of December 31, 2006, more than 5,000 customers and four branches. Following an extensive evaluation of other solutions, the bank credits the open architecture and advanced functionality for its selection of Open Solutions' TCBS.
"We thoroughly evaluated five core processing platforms and it was quickly evident that Open Solutions' system was by far the most sophisticated," said Rhonda Swanson, chief financial officer of Palm Desert National Bank. "Our community bank has a unique business model and therefore, we have complex reporting and processing needs. The open architecture and flexibility of Open Solutions' platform will give us the capability to quickly generate the necessary reports and gain operational efficiencies."
Built on a powerful Oracle(R) relational database, The Complete Banking Solution's open architecture and customer-centric platform is designed to help financial institutions streamline both the front and back office applications with a focus on customer service. The Open Solutions core platform offers banks a centralized view of its specific relationships with customers, employees and business partners.
"We are often competing with much larger institutions to attract new and retain our current customer relationships," said Swanson. "With Open Solutions' platform, we'll be able to quickly introduce new product offerings and streamline our marketing efforts, giving us more of a competitive edge. Open Solutions' advanced open technology platform offers the flexibility, business functionality and third-party integration capabilities needed to support both our current and future needs."
In addition to The Complete Banking Solution data processing platform, Palm Desert National Bank will be implementing Open Solutions' digital document solution, cView(TM) (CRM/business intelligence), telephony/VRU, Financial Accounting Suite (integrated financial management solution) and item processing Check 21 applications (branch and merchant capture).
Louis Hernandez, Jr., Open Solutions chairman and CEO, said, "Open Solutions' primary objective is to offer a complete, enterprise-wide data processing solution that allows institutions like Palm Desert National Bank to offer innovative products and services, deliver outstanding customer service and be competitive in their market. We understand the current market and the importance of delivering the right product to the right customer. The open architecture of our platform makes it possible for financial institutions of all sizes to thrive in the current environment. We appreciate the opportunity to partner with the bank and we look forward to helping them achieve their business goals."
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, digital documents, Check 21, interactive voice response, network services, Web hosting and design, 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.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by email at by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.
Open Solutions Inc., The Complete Banking Solution and e-Commerce Banker are registered trademarks of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2007 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.