COCC Expands Agreement with Open Solutions

Monday 17 January 2005 02:08 CET | News

COCC has expanded its software agreement with Open Solutions throughout the United States and Canada. This expanded agreement will ensure that COCCs client institutions have the most advanced and broadest range of technology available from Open Solutions.

Under terms of the agreement both companies will work more closely together to continue developing the next level of financial computing solutions. This partnership, which represents a considerable long-term economic commitment by COCC to resell Open Solutions product offerings, will allow both organizations to better address the growing demand for relational technology and service within the marketplace. The COCC/Open Solutions strategic partnership dates back to 1997 when COCC first partnered with Open Solutions to replace its legacy mainframe system with Open Solutions next generation open relational platform. COCC completed the migration of its entire outsourced client base to the Open Solutions core processing platform in 2003. COCC is the only financial data processing center in the United States to accomplish this feat. Todays agreement ensures that COCC has access to the latest products available from Open Solutions; an industry focused product line designed to integrate and leverage the power of the relational core data processing architecture including financial accounting tools, loan origination, imaging, Internet banking, cash management and particularly cView, a CRM/business intelligence suite which helps customer-contact personnel offer the most logical and profitable banking products to individual consumers. Additional Open Solutions products such as Relational Search/Teller Express further streamline teller operations and enhance the financial institutions ability to manage customer relationships. The Open Solutions technology is one of the few platforms that experienced significant client growth over the past few years. COCC increased its total number of clients by 31% last year alone, and continues to experience strong market interest in its advanced technology. Open Solutions has achieved impressive growth as well, highlighted by a 95% increase in the value of new client contracts in the third quarter, 2004 over the same quarter in 2003.

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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
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Banking & Fintech