Source: Open Solutions
First Bank and Trust East Texas announced it has selected Open Solutions' The Complete Banking Solution (TCBS), a relational core data processing platform, 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.
A locally owned community bank serving the communities of East Texas and headquartered in Diboll, Texas, First Bank and Trust East Texas has approximately $575 million in assets, 18 branches and more than 45,000 customers. Following a comprehensive selection process, the bank cited Open Solutions' relational database technology, large installed bank client base and proven installation and training programs as the primary reasons for its selection of Open Solutions' TCBS platform.
"We spent a significant amount of time evaluating the leading providers of core banking technology including our previous vendor of more than 20 years, as well as some of the more recent entrants to the financial services space," said Dana Helton, senior vice president - cashier of First Bank and Trust East Texas. "Open Solutions' platform was the only system that addressed all of the needs requested by each department within the bank. The open architecture gives us the flexibility to choose our own hardware and the confidence that TCBS will be able to support our current business goals, as well as our anticipated growth and expansion."
First Bank and Trust East Texas is dedicated to providing its customers with sophisticated technological support including online banking, image-enabled item processing and numerous' commercial treasury management products.
"We understand each of our customers has unique banking needs," said Helton. "Like Open Solutions, we remain committed to providing personalized service to meet our customers' individual goals. We were impressed with the flexibility of Open Solutions' TCBS and felt it was the only solution that offered real time balance information across all channels for our growing customer base. This will give us an advantage in our market and create a value-add for the bank's customers."
The Complete Banking 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 banks streamline both front and back office processes and creates a centralized view of customers, employees and business partners.
"Following implementation, we anticipate significant improvements in terms of our operational efficiencies, streamlining our current procedures and gaining the ability to quickly offer new products and provide better service to our customers," said Helton. "Additionally, we expect to gain improved report writing abilities, giving our entire team a more complete view of our customer base. We look forward to a long-term partnership with Open Solutions."
In addition to The Complete Banking Solution data processing platform, First Bank and Trust East Texas is also implementing Open Solutions' cView (CRM/business intelligence), integrated safe deposit module, real-time ATM support, shadow accounting, premium overdraft, financial accounting, profitability, asset liability, financial planning and Portfolio Genius applications.
"Open Solutions is committed to providing financial institutions like First Bank and Trust East Texas with an open array of technology choices to handle their enterprise-wide data processing and complementary product solutions needs," said Louis Hernandez, Jr., chairman and CEO of Open Solutions. "Our technology was designed to give our clients the accurate, relevant, real-time information needed to make effective and strategic business decisions. First Bank and Trust East Texas has demonstrated a commitment to leveraging technology to better serve its customer base. We share this commitment and look forward to helping the bank accomplish this goal."