Open Solutions signs Texans Credit Union to core data processing platform

Source: Open Solutions

Texans Credit Union announced it has selected Open Solutions The Complete Credit Union Solution, a relational core data processing platform for credit unions, to address its enterprise-wide data processing needs.

Open Solutions is a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets.

With branches throughout North Texas, Austin and Houston, Texans Credit Union has assets approaching $2 billion, 30 branches and serves more than 156,000 members. After an extensive evaluation process, the credit union selected Open Solutions primarily for its advanced commercial lending and deposit capabilities.

"Unlike traditional credit unions, Texans Credit Union is focused on developing and expanding its relationships within the commercial marketplace," said Greg Gallant, executive vice president and chief operations officer of Texans Credit Union. "To be successful, we realized the need for a sophisticated core platform with the advanced capability and logic to efficiently process commercial transactions, including loans and deposits. Based on our processing needs, the management team established a set of criteria and began to evaluate multiple systems. Open Solutions was the only platform that satisfied and exceeded all of our requirements."

Following its implementation later this fall, Gallant plans to use TCCUS to gain additional operational efficiencies and improved member functionality.

"Many of the manual processes will be automated following our implementation," said Gallant. "We expect to further streamline our operations and reduce errors associated with manual processes. The additional features we are gaining will help us quickly deliver products to our members, specifically our business members, giving us a competitive edge over other financial institutions in the area."

The Complete Credit Union Solution 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. It helps credit unions streamline both front and back office processes and creates a centralized view of members, employees and business partners. Open Solutions provides credit unions with a fully featured strategic product platform, integrating relationship-based core data processing with strategic applications such as Internet banking, business intelligence, financial accounting applications, electronic imaging, payment and interactive voice response solutions.

In addition to The Complete Credit Union Solution data processing platform, Texans Credit Union is also implementing Open Solutions' integrated solutions including premium overdraft protection, loan participation, cView (CRM/business intelligence), safe deposit box, positive pay and shared branching applications.

"Open Solutions is dedicated to providing the types of innovative solutions we believe will support Texans Credit Union's long-term strategies and increase the level of service they can provide to their members," said Louis Hernandez, Jr., Open Solutions chairman and CEO. "We understand the importance of technology in today's market and our goal is to design and deploy innovative product offerings that best suit the needs of our clients' members and employees. Open Solutions designed its products to help financial institutions maintain their competitive edge in an ever-changing industry. Texans Credit Union is known in the credit union industry as a forward-thinking credit union and we are proud to be their technology partner."

Comments: (0)