Open Solutions, a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets, and BankDetect/CU-Detect, a knowledge-based technology company that focuses on loss prevention and compliance for financial industries, announced they have expanded their eight-year referral relationship into a more comprehensive reseller agreement that will provide Open Solutions' banking and credit union clients with additional access to BANKDetect/CU-Detect's robust collection of fraud, abuse and BSA compliance solutions.
The new agreement means Open Solutions will now offer BANKDetect/CU-Detect products including new account, Office of Foreign Assets Control (OFAC) and other identity-screening services that will provide options for basic to advanced identity analysis and monitoring; account risk management solutions that produce and maintain risk profiles for both fraud prevention and compliance; and account activity analysis solutions for risk detection, fraud prevention, anti-money laundering and identification theft compliance.
"With this agreement, Open Solutions can now offer our clients a full spectrum of fraud prevention and risk compliance solutions, and our clients can now opt for these solutions to be core platform-supported," said David Mitchell, Open Solutions' senior vice president and chief marketing officer. "We're very confident in the BANKDetect and CU-Detect products and staff, who have many years of intelligence and law enforcement experience, both with domestic and foreign military and government agencies. They're not only knowledgeable - they also provide exceptional customer service."
Bob Cofod, president and founder of BANKDetect/CU-Detect said, "We are very pleased to have a closer relationship with Open Solutions and believe this is the basis for significantly improving the fraud prevention and compliance services available to Open Solutions clients. In particular, the ability to integrate our services with core processes is a major benefit to Open Solutions customers and provides the opportunity for seamless prevention and compliance processes from account opening to daily activity monitoring."