Open Solutions Inc.®, a leading provider of integrated enabling technologies for financial services providers across the world, announced a European strategic teaming alliance partnership agreement with Hewlett Packard (HP), a technology solutions provider to consumers, businesses and institutions globally. The agreement will enable Open Solutions to further market its sophisticated suite of enterprise technology solutions to European, Middle Eastern and African (EMEA) financial institutions.
Under the current terms of the agreement, all Open Solutions products and services, including The Complete Banking Solution®: DNA/The Complete Credit Union Solution®: DNA, relationship core processing system, will be delivered through the HP direct sales and reseller network across Europe. As a reseller, HP will have the ability to provide Open Solutions´ products and sublicense Open Solutions´ relational enterprise data processing solutions and integrated ancillary products. HP will be responsible for implementing, customizing, localizing and supporting the products covered by this agreement. Both companies have created sales and marketing teams as well as co–marketing programs to better reach and support customers around the world.
Vice President, Financial Services Industry for EMEA HP, Nicola Aliperti, said, "As the leading core banking provider in the European market, we are pleased to partner with Open Solutions, the leading innovator of and proven provider of core technology in North America. This joint agreement will give small to mid–size financial institutions an advantage in the market. Even with a limited budget, these institutions will now have access to a sophisticated, open database core banking system."
Open Solutions continues to expand its international presence through strategic reseller and marketing agreements. Just last month, the company announced a partnership with Senior Solution, a leading Brazilian software and services provider with a retail banking client base within the Latin American financial services marketplace. Open Solutions has also formed several other strategic international partnerships, including: Thailand Equipment Research Co. Ltd. (TER); Asian–based Solution Corner (SLC); Canadian–based Celero; Asian–based CSII; Asian–based Thien Nam Information Technology; India–based R Systems Inc., and Mexico–based Hildebrando.
Open Solutions Senior Vice President of International Operations Wayne Ginn, said, "We consider HP a leader within the industry and are pleased to partner with such a respected company with a proven presence in Europe. HP has extensive reach in the global market and strong implementation expertise. We´ve experienced tremendous growth globally and look forward to bringing our world–class technology solutions to the EMEA region."
With growing competition among international financial institutions, there is an increased demand for technology platforms that contribute to and accommodate growth, as well as enable these organizations to offer more personalized products and services. Open Solutions´ relational database technology suite was designed to be an open architecture application, providing both domestic and international financial service providers the advanced functionality and technology needed to run an agile, person–focused institution.
Open Solutions Chairman and CEO Louis Hernandez, Jr., said, "This strategic alliance with HP further complements Open Solutions effort to establish itself as a global leader in the financial services marketplace. HP´s vision and proven expertise will play an integral role in our expansion into the European market. In the current global economy, institutions are realizing the need to move beyond traditional legacy systems to more open, sophisticated platforms. We look forward to working with HP to introduce Open Solutions´ relational core data processing platform and integrated product suite to the EMEA market."
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, 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 across the world 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.
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.
