Credit union to expand its Check 21 capabilities
Pawtucket Credit Union announced it has selected Open Solutions Inc.’s® branch capture and image-based item processing solutions to further streamline operations and enhance its overall Check 21 strategy. Open Solutions is a leading provider of integrated enabling technologies for financial service providers across the United States, Canada and other international markets.
Based in Pawtucket, Rhode Island, Pawtucket Credit Union has approximately $866 million in assets, 64,000 members and 12 full-service branches. Currently relying on Open Solutions’ The Complete Credit Union Solution® (TCCUS), a relational core data processing platform for credit unions, Pawtucket will now have the ability to capture images of paper transactions at branch locations and transmit images for proof-of-deposit electronically, eliminating the need to transport or archive paper documents.
“After a thorough evaluation process, we found Open Solutions’ item processing and branch capture applications to be the best choice to meet our future growth, operational and strategic goals,” said William Slade, vice president of data services for Pawtucket Credit Union. “Additionally, the solution will enable the credit union to automate many traditionally manual procedures, such as helping us streamline our workflow and cut down on associated expenses. We were impressed with the rich feature functionality and the maturity of the offering. We selected Open Solutions because they offered a complete Check 21 solution that we believe will address many of the challenges associated with today’s payment systems environment, as well as enable Pawtucket to take advantage of many Check 21 opportunities.”
Open Solutions’ image-enabled item processing system drives a wide range of check-processing transports and streamlines a financial institution’s operations, optimizes workflow, enhances business flexibility and generates fee income. The system provides for improved funds availability, offers faster client service and helps institutions retain more accounts and saves on monthly mailing costs.
Tim Clewley, senior vice president and general manager, Imaged Payment Technologies Group, said, “Our goal is to help community financial institutions leverage technology to be more efficient, more profitable, more competitive and provide more compelling products and services to their clients. We realize the needs of every institution are not the same and therefore focus on providing customized, flexible solutions that address the unique needs institutions have today, as well as the challenges of tomorrow. Our image-based item processing products and services are designed to help institutions achieve the highest level of operational success. We’ve worked with Pawtucket Credit Union for several years and look forward to expanding our relationship to include remote branch capture and item processing capabilities.”
“We are extremely pleased that we’ve expanded our relationship with Pawtucket Credit Union,” said Louis Hernandez, Jr., Open Solutions’ chairman and CEO. “We realize credit unions are facing intense competition in the market and have designed a suite of products to help credit unions streamline operations, offer superior service to their members and take advantage of the many opportunities associated with Check 21. Open Solutions’ goal is to fully equip institutions of all sizes to better compete and achieve their strategic goals. This recent expansion of our services to Pawtucket fully demonstrates our breadth of offerings and ability to address the most pressing challenges facing today’s financial marketplace.”
About Open Solutions
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 line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com or by phone at 860.652.3153 or via fax at 860.652.3156. Visit Open Solutions’ Internet site at www.opensolutions.com.