CNS to provide comprehensive ATM, debit transaction processing, and risk
management products and services to Open Solutions’ core clients.
Open Solutions Expands Relationship with CNS; CNS to Deliver Extensive Electronic Funds Transfer Capabilities
Glastonbury, Conn., Nov. 20, 2008 – Open Solutions Inc.® announced today an expanded strategic relationship with Consumer Network Services (CNS) to provide electronic funds transfer (EFT) products and services to Open Solutions’ clients running The Complete Banking Solution® and The Complete Credit Union Solution® Open Solutions is a leading provider of integrated enabling technologies for financial services providers throughout the United States, Canada and other international markets.
For more than 20 years, Open Solutions has been reselling CNS EFT services to its clients operating in outsourced environments. With this new agreement, Open Solutions will be able to offer CNS EFT capabilities to Open Solutions’ in-house core clients. The partnership will introduce products and services that were not widely available to many in-house clients.
CNS EFT solution sets include ATM driving and monitoring, ATM and debit card transaction processing and comprehensive ancillary services including risk management, card production and consultative services. CNS processes more than 20 million EFT transactions per month for Open Solutions’ clients.
“Open Solutions and CNS deliver an outstanding range of capabilities, services and operational options,” said Tim Lenhoff, senior vice president of Columbia Bank, located in New Jersey. “Together, the Open Solutions/CNS team gives us a service suite that enables us to effectively compete in the EFT services market. They have consistently proven themselves to be extremely reliable, flexible and willing to work collaboratively with us.”
“We align ourselves with service partners who can deliver the solutions our clients need to compete effectively in their marketplace,” said Ron Young, VP, product strategy and management, of Open Solutions. “With CNS, our clients have access to a complete set of leading and cost-effective products and services that provide consistent, high-quality performance to benefit their individual cardholders.”
“As a longtime client of Open Solutions and CNS EFT, we are extremely pleased and have determined that both processors actually exceed our expectations for EFT processing,” said James N. Farrell, president and CEO, New Haven County Credit Union, Inc., located in North Haven, Conn.
“We welcome the opportunity to expand our working relationship with Open Solutions to provide cost-effective, scalable and comprehensive EFT services to the financial marketplace,” said Don Cowley, senior vice president of CNS. ”We’re pleased to have been selected by an industry leader to deliver the tools, capabilities and marketplace insight their clients need.”
About CNS
CNS provides comprehensive ATM and debit services to financial institutions across the United States, including ATM driving and comprehensive transaction processing capabilities. CNS clients operate in all 50 states, making it one of the nation’s most successful and accessible electronic funds transfer (EFT) providers.
About Open Solutions Inc.
Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core data processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions.
Open Solutions’ full suite of products and services allows banks, thrifts, credit unions and financial services providers worldwide to better compete in today’s aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions or its financial product line, contact Mickey Goldwasser by e-mail at
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or by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.
Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.
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Contacts:
Marvin (Mickey) Goldwasser Andrew McCaskill
Open Solutions Inc. Media Contact for Open Solutions
860.652.3153 678.781.7210
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Don Cowley
CNS
425-653-6369
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