Open Solutions Completes Implementation for $1.75 Billion Asset Bethpage Credit Union

Wednesday 4 February 2004 18:00 CET | News

Bethpage Federal Credit Union (Bethpage), with more than 120,000 members, has successfully installed Open Solutions The Complete Credit Union Solution (TCCUS) to handle the institutions retail transactions, consumer loan servicing and integration strategy.The $1.75 billion credit unions installation is one of the largest technology conversions in credit union history. According to Bethpage executives, commercial (member business) lending is becoming more and more important to the credit union industry, and Open Solutions lending applications were exactly what Bethpage was looking for to handle current operations and expected growth. Other standout features of the relational core data processing solution include on-line signature and picture verification of members, an extensive deposit system, business functionality, integrated optical storage for reports and forms, and the power to customize the system to create new products or update older ones. Bethpage leveraged a Credit Union Service Organization (CUSO) in Denver to run back office data processing with the Open Solutions platform. During a three-day weekend, the credit union went live with an entire new technology framework replacing a legacy transaction system they had been using for the past 6 years.

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Categories: Payments & Commerce | Payments General
Countries: World
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