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Affinity FCU selects open Solutions' DNA

30 April 2012  |  1620 views  |  0 Source: Open Solutions

Open Solutions Inc.®, the leading provider of collaborative enterprise technology to community-based financial institutions worldwide, announced today that Affinity Federal Credit Union has selected Open Solutions' DNA™ core banking platform to better serve its members and expand its growing business portfolio.

Founded in 1935 and headquartered in Basking Ridge, N.J., Affinity Federal Credit Union has approximately $2 billion in assets and more than 135,000 members, making it the garden state's largest credit union. Affinity is very active in its community, supporting numerous local charities through its Foundation. Affinity also has a strong presence within the business community as a result of its consultative approach to commercial lending, expansive array of business support services and ongoing training programs designed to educate and support business owners.

Realizing its legacy core system could no longer support its growing business needs, Affinity chose Open Solutions' revolutionary DNA platform after a long analysis of other leading providers. Affinity selected DNA for its radically different strategic vision, modern architecture and fully integrated product suite. Additionally, DNA's advanced commercial functionality and member-centric data model were key attributes for this progressive, relationship driven credit union.

"Affinity selected DNA for its tried and tested solutions with the proven ability to support our continued growth, as well as assist us in our goals of streamlining and adding agility to our operations," stated Denise McGlone, chief financial officer at Affinity Federal Credit Union. "The open nature and ease of integration this advanced core processing system provides will help us deliver greater products and services to our members."

As a first step in taking advantage of DNA's open nature, Affinity also purchased the Completed Transaction History and All Accounts History Inquiry DNAapps through Open Solutions' innovative DNAappstore™ - an online marketplace for core extensions that enables DNA users to create and share custom core enhancements.

Taking further advantage of the DNA platform's integrated product suite, Affinity will implement Velocity™ consumer and commercial lending; DNAcreditcard™ portfolio management solution; DNDNAmessage™ dynamic marketing messenger; DNApublisher™ employee portal; DNAactivity™ business process management; DNAreport™ CRM/BI reporting wizard; DNAprofit™ profitability analyzer; DNA - tMagic™ automated teller capture; Opencheck™ - Outsourced IP, Branch Capture, Merchant Capture and ATM Capture; the DNAconnect™ and sqr integration and collaboration toolkits; and pre and post best practices professional services. All solutions, including DNA, are to be implemented on-premise.

Finally, as an existing client of Open Solutions' independent research subsidiary, Raddon Financial Group, Affinity will be able to marry Raddon's leading industry insight with the industry's leading core platform - a powerful combination that will help it gain market and wallet share.

"Open Solutions and Affinity Federal Credit Union are a perfect match," stated Louis Hernandez, Jr., chairman and CEO of Open Solutions. "Both organizations share a deep commitment to the success of community-based financial institutions and the small businesses and individuals they serve. Whether it's starting a business, buying a house or owning a car, Affinity can now use the industry's most advanced core platform to help its members achieve the American Dream - and do so more quickly, cost effectively, and satisfactorily than ever before."

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