Clinton Savings Bank Selects Open Solutions' ABA-endorsed Imaged-based Item Processing

2008-07-30 23:35:05 -

www.opensolutions.com - Open Solutions Inc. Marvin (Mickey) Goldwasser, 860-652-3153 mgoldwasser@opensolutions.com or Media Contact for Open Solutions Inc. Andrew McCaskill, 678-781-7210 wma@opensolutions.com Clinton, Mass.-based Clinton Savings Bank announced it has selected Open Solutions Inc.'s (R) imaged-based item processing solution, ISCheck, to streamline its check processing operations. Open Solutions is a leading provider of integrated enabling technologies for financial service providers across

the United States, Canada and internationally.

Established in 1851, Clinton Savings Bank was the first bank to open in the Clinton community. Since its inception, the bank has grown to more than $463 million in assets with more than 34,000 client accounts.

Clinton Savings selected Open Solutions for its check imaging system because of the bank's history with the company. The bank already uses The Complete Banking Solution(R), cView(TM), interactive voice response, loan origination and the financial accounting suite. "We were in need of a system that would compliment our existing Open Solutions data processing platform," said Michael Tenaglia, CIO of Clinton Savings Bank. "We were pleased with our core platform, and it was only logical to consult Open Solutions again to ensure a seamless integration between the two systems. Clinton Savings has a great relationship with the company, and we were comfortable expanding that relationship into payments."

Open Solutions' image-enabled item processing system drives a wide range of check-processing transports and streamlines a financial institution's operations. In addition, the solution optimizes workflow, enhances business flexibility and generates fee income. Key benefits include improved funds availability, faster client service and greater abilities for institutions to retain more accounts and save on monthly mailing costs.

"Open Solutions provides customized imaging solutions that help financial institutions achieve greater efficiency, profitability and competitiveness," said Tim Clewley, senior vice president and general manager, Imaged Payment Technologies Group. "Banks can implement solutions to provide the most cost efficient clearing path, provide unlimited access to image archives, combat fraud or increase fee income. Additionally, these solutions can be implemented, adjusted or added based on the individual institution's timeline. Whatever the objective, Open Solutions has a solution that ensures the highest level of operational success."

Louis Hernandez, Jr., Open Solutions' chairman and CEO, said, "Open Solutions understands the challenges community banks face today. Based on our technology's track record, the American Bankers Association (ABA), through its subsidiary the Corporation for American Banking (CAB), exclusively endorses our imaged-based item processing system, ISCheck, as the recommended imaging solution for community banks. At Open Solutions, we are committed to providing institutions like Clinton Savings Bank with exceptional service and support, including professional programs and services designed to help maximize the benefits of our technologically advanced imaging solution."

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, network services, HSAs, payments and loan origination solutions.

Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally 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 lines, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2008. Open Solutions Inc. All rights reserved.

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.

156-year-old community bank to streamline processing operations