12/09/2009

Open Solutions Inc. and Plansmith Corp. Announce Reseller Agreementof Online Forecasting Tool, BankersGPS

Glastonbury, Conn., Dec. 9, 2009 - Open Solutions Inc.® and Plansmith Corp. announced that the companies have expanded their reseller agreement. Open Solutions is a leading provider of integrated enabling technologies for financial services providers throughout the United States, Canada and other international markets. Plansmith has been a leader in providing financial institutions with software tailored to meet their profit planning, budgeting and interest rate risk management needs for more than 35 years.

The new agreement gives Open Solutions the ability to resell BankersGPS^TM, Plansmith's new online planning solution for bank executives. BankersGPS integrates forecasting, peer analysis, strategy, and rate risk management in one easy-to-use and highly affordable application that requires no manual data entry, software installation or technical training.

This unique projection system offers users instant access to a 12-quarter forecast for their bank compared to anticipated results of rivals and peers.  BankersGPS also features ‘what-if?' capabilities to give the bank's management team the opportunity to test alternate ideas to improve performance.   The system incorporates an interest rate risk measurement module that automatically prepares a comprehensive rate risk narrative report to help bankers manage their rate risk, as well as meet regulatory compliance.

"No other product on the market today offers bankers the ability to so easily create a 3-year forecast, evaluate risks and strategy, and then seamlessly benchmark their plan to competitors," said Craig Hartman, Founder, President and CEO of Plansmith.  "We are extremely pleased that Open Solutions has expanded their reseller agreement with Plansmith to offer this smart new software solution to banking executives to aid decision-making, satisfy examiners, and improve performance in a tough environment."

 "Our relationship with Plansmith was built on a commitment to deliver best-of-breed solutions - all to ensure that we meet our clients' needs," said Eric Anderson, vice president of Strategic Alliances for Open Solutions. "Adding BankersGPS to that mix is just another example of listening to our clients and delivering what they want. Both companies share a similar philosophy of providing cutting-edge technology as well as uncompromised client support."