Hyperion Bank in Philadelphia, Pa., announced it has selected Open Solutions' DNA, for enterprise-wide, relational core processing. Open Solutions is a leading provider of integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets.
Hyperion Bank opened its doors in 2006. Its single branch manages more than 3,000 accounts and $91 million in assets. The bank is located in the Northern Liberties neighborhood and provides a full range of financial services to customers and merchants. It is the first community bank to locate in an urban section of Philadelphia in more than 20 years, and chose the location because of the extensive redevelopment and revitalization of the community. Providing high-quality services to its customers enables the bank to contribute to the rejuvenation of the neighborhood and, according to the bank, a sophisticated and flexible core technology system will not only increase its level of customer service, but also provide the institution with the ease of use and accuracy needed to enhance performance.
"With Hyperion Bank's decision to upgrade to Open Solutions' DNA platform, we will be able to improve efficiency in our branch. The new system reduces the time spent on employee training, is user-friendly and provides our employees with the information needed to better serve our customers," said Wayne Hardenbrook, CFO of Hyperion Bank. "The products are well-suited to support community banks like Hyperion, and will allow our branch to reach a higher level of proficiency and perform at an overall higher level."
In addition to the upgrade to DNA, Hyperion Bank also chose to implement the Financial Accounting Suite (FAS), Maxxar voice response system, Electronic Funds Transfer and item processing solutions including tMagic teller capture and remote deposit capture, modules that will allow them to improve productivity and provide greater convenience to customers.
Open Solutions' advanced DNA platform uses .NET technology and capitalizes on the strength of the company's unique data model built on a centralized Oracle® relational database to support customer-centric servicing, while greatly enhancing flexibility and productivity. Available as an in-house or outsourced solution, DNA helps financial institutions streamline both front- and back-office processes and creates a single, centralized view of customers. Hyperion Bank will implement DNA in an outsourced environment through Open Solutions' own world-class Global Operations Center.
"By selecting Open Solutions' DNA platform, Hyperion Bank will have the tools to improve service to this vital Philadelphia area, further differentiating themselves as an organization committed to serving their local community," said Louis Hernandez, Jr., chairman and CEO of Open Solutions. "We look forward to continuing to work with Hyperion Bank, building on this long-lasting relationship."