Glastonbury, Conn., Sept. 16, 2009 - Open Solutions Inc.® announced Probity Financial Services, an online financial services company with a unique service offering, has selected the latest version of its relational core data processing platform, The Complete Banking Solution®: DNA (TCBS: DNA). Open Solutions is a provider of integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets.
Serving customers across the nation, Probity is a completely online financial services company. With a unique business model, the organization relies on its ability to optimize technology, automation and processing capabilities. Probity chose TCBS: DNA to meet its unique business needs and will run the solution in an outsourced environment out of Open Solutions' state-of-the-art service center in Cherry Hill, New Jersey. Tim Smith, CEO of Probity Financial Services, cites the platform's openness as a key reason for selecting TCBS: DNA.
"As an online organization, we know we will need other features in the future; therefore, selecting an open system was critical," said Smith. "With Open Solutions' DNA core platform, we are well positioned for the future of banking and prepared to meet service demands in the future. An open architecture application will enable us to easily add new features, allowing us to focus on our service rather than the integration process."
Smith added, "The implementation went very well also. We were up and running on time, which was very important for us. We encountered few challenges and are very pleased with the entire process. We look forward to our long-term partnership with Open Solutions and the benefits their solutions will bring to our organization."
In addition to The Complete Banking Solution: DNA core platform, Probity Financial Services will implement Open Solutions' Financial Accounting Suite (integrated financial management solution), cViewTM with MarketVisionTM, digital document solution, e-Commerce BankerTM (Internet banking and cash management), electronic funds transfer (EFT) ATM and Open Solutions' ABA-endorsed image-based item processing.
The Complete Banking Solution: DNA is built on a powerful, centralized Oracle® relational database designed to be an open architecture application, creating the flexibility necessary for running a service-oriented financial institution. The solution is offered in-house or as an outsourced solution. By capitalizing on the strength of Open Solutions' unique universal data model and .NET design, it helps banks streamline both front- and back-office processes and creates a centralized view of customers, employees and business partners. The outsourced and hosted option provides technology and support through Open Solutions' state-of-the-art, secure data processing center.
Louis Hernandez, Jr., Open Solutions chairman and CEO, said, "At Open Solutions, we take pride in our ability to work with the specific and different needs of a variety of organizations. As a completely online financial services company, Probity Financial Services was founded on a unique business model; and therefore requires a flexible core platform that other providers do not offer. As Probity grows and their customers' needs change, our flexible and customizable solutions will grow and adapt with them. Like us, Probity sees the importance of preparing for the future, and we look forward to our long and valuable relationship."