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January
7, 2004
FOR IMMEDIATE RELEASE
Open Solution Inc.'s fti/Financial Technologies Signs
Twelve New Clients
Sales of Profitability Solution and Financial Platform
Continue to Grow
GLASTONBURY, Conn., January 7, 2004
- Open Solutions Inc.'s fti/Financial
Technologies (FTI), a business unit
of Open Solutions (NASDAQ: OPEN) and
a
provider of integrated financial accounting
tools, asset liability management
software and enterprise profitability
solutions, announced that twelve financial
institutions recently purchased one
or more of its financial solutions.
Two of the new clients, Oneida Savings
Bank in Oneida, NY and South
Valley Bank & Trust in Klamath
Falls, OR, purchased ProfitVision,
Open
Solutions' FTI enterprise-level profitability
solution. Rick Stickels,
chief financial officer for Oneida
Savings Bank, noted, "The time
has come
for us to understand who the real
contributors to our bottom line are
at a
departmental and product level. The
ProfitVision solution enables us to
do
that as well as get a clear picture
of the expense side." Oneida
Savings
Bank has used other profitability
solutions in the past, but found
ProfitVision to be the solution that
meets their needs.
Other clients joining Open Solutions
client base purchased FTI's
Accounts Payable, General Ledger,
Advanced Report Writer, Fixed Assets
and
Asset/Liability solutions. Some of
the new clients are Pioneer Credit
Union
in Green Bay, WI; First National Bank
of the Rockies in Meeker, CO; Baton
Rouge Teachers Federal Credit Union
in Baton Rouge, LA; Pacific Marine
Credit Union in Camp Pendleton, CA;
InterSavings Bank in Edina, MN; First
Bristol Federal Credit Union in Bristol,
CT and Crescent Bank in New
Orleans, LA.
Kevin Cochran, senior vice president
and chief financial officer for
First National Bank of the Rockies,
said, "We were looking for a
powerful
asset/liability and budgeting tool
and Open Solutions' FTI product offering
met all of our needs. FTI's interface
to our core processing system saved
us from a massive data input effort."
Anne Miela, vice president and group
manager of Open Solutions' FTI group,
said, "We are very pleased with
our growth in clients. We have been
listening carefully to our clients
and working hard to deliver what we
believe to be the best financial solutions
in the industry."
About Open Solutions
Open Solutions Inc. offers a fully featured strategic
product platform thatintegrates core data processing
applications, built on a single centralized Oracle relational
database, with financial accounting, Internet banking,
cash management, electronic commerce, lending origination
and imaging solutions. OSI's full suite of products
and services allows banks and credit unions to better
compete in today's aggressive financial services marketplace,
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:
Marvin (Mickey) Goldwasser
Open Solutions Inc.
860.652.3153
mgoldwasser@opensolutions.com
www.opensolutions.com
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