Source: Open Solutions
Open Solutions, a leading provider of integrated enabling technologies for financial services providers across the United States, Canada and other international markets, announced an international reseller partnership agreement with Thailand-based Solution Corner (1998) PCL, a leading software developer and information technology provider.
The partnership with Solution Corner (SLC) further expands Open Solutions' presence in Asia, specifically the Indochina region. SLC joins Open Solutions growing list of international resellers such as Canadian-based Celero, Asian-based CSII and India-based R Systems Inc.
Under the terms of the agreement, SLC will offer Open Solutions' products within Asia and will sublicense Open Solutions' relational enterprise data processing solutions and integrated ancillary products, serving as a nonexclusive distributor. SLC will be responsible for implementing, customizing, localizing and supporting the products covered by this agreement.
Open Solutions Vice President of International Operations, Wayne Ginn, said, "Developing relationships with strong international partners like SLC further extends our reach within the international marketplace, specifically the Indochina region. This partnership demonstrates our continued commitment to the Asian region and to that end, our desire to employ local resources. Our goal is to serve as a comprehensive resource for financial institutions in the U.S., Canada and abroad."
Institutions in Asia traditionally run legacy systems based on historical accounting systems. With the increasing competition of foreign banks entering the Asian market, Asian financial institutions are demanding a technology platform that contributes to and accommodates growth, as well as enables them to offer more personalized products and services to customers. This reseller agreement will enable SLC to better meet the increasing global demand for advanced relational processing technology among Asian financial institutions.
"This is a great opportunity for both companies as SLC already has a strong presence in Indochina. This agreement will give them the opportunity to resell the Open Solutions comprehensive product line to new and existing customers," said Andrew Bennett, EVP of International and Research and Development for Open Solutions. "Open Solutions continues to experience tremendous growth as more and more financial institutions implement our open architecture platform. It truly helps fill a void for innovative technology solutions in this marketplace and we are looking forward to working together with SLC."
Open Solutions provides enabling solutions to domestic and international financial services providers, offering some of the most advanced functionality, technology and service in today's market. Its relational database technology suite was designed to be an open architecture application, creating the flexibility necessary to run an agile, customer-focused institution. The product suite delivers real-time core data processing, business functionality and business intelligence capabilities that have efficiencies for both the front and back offices.
Open Solutions Chairman and CEO Louis Hernandez, Jr., said, "This agreement with SLC is important both in terms of expanding our global footprint and also in terms of offering Asian financial institutions a solution that truly supports their growth and customer needs. As financial institutions in this region face more intense competition, we believe our open core data processing platform and integrated product suite are uniquely designed to position institutions for success. Having reseller alliances in the international market space is part of our ongoing strategy to introduce our technologies abroad. This is an important additional step towards addressing the global demand for innovative, open and flexible technologies and services for which Open Solutions has developed an industry-wide reputation. We are pleased to continue our international expansion through this partnership agreement with SLC."