Shelter Bank Selects Open Solutions

Tuesday 22 February 2005 20:46 CET | News

Columbia, Mo.-based Shelter Bank has selected Open Solutions The Complete Banking Solution (TCBS) to process all the institutions core data processing needs.

Shelter Bank is an Open Solutions EastPoint Technologies client that researched other available options in the marketplace and after this evaluation chose to upgrade to the Open Solutions relational platform because of its advanced technology and the scalability of the products. Open Solutions acquired EastPoint Technologies, LLC in June 2004 with the promise of offering their clients more choices in terms of products and services. Shelter Bank is a wholly-owned subsidiary of an insurance company and distributes its banking products through a 1,300-member insurance network that extends to 13 states. The institutions customers rely heavily on Web-based banking and other methods of electronic delivery channel access. Shelter Bank has opted to run this technology via Open Solutions Technology Outsourcing Center. Open Solutions open-based core technology and integrated applications have been designed to help financial institutions like Shelter Bank leverage an outsourced environment while allowing the institution to provide the most current technology to its customers, employees and management. Shelter Bank also selected Open Solutions asset/liability management and financial planning products, as well as the general ledger suite, and the Open Solutions COLD application offering. Each of these complementary products and services will further help to round out Shelter Banks offerings to their customers and assist them in achieving their goals of customer growth, sales and service. Geographic constraints played a role in the $118 million-asset institutions selection of Open Solutions core data processing platform, as well. According to Wheeling, tighter constraints on regulations such as Customer Identification Programs and Know Your Customer requirements made The Complete Banking Solution even more attractive.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce