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| [January 14, 2009] |
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Open Solutions IA Systems Announces Seven 4th Quarter Implementations
ALBANY, N.Y. & GLASTONBURY, Conn. --(Business Wire)--
IA Systems, an Open Solutions business unit and a provider of innovative lending software to financial institutions, announced another successful quarter with seven credit unions implementing StreamLend® Velocity to fulfill their need for an innovative loan origination system. Open Solutions Inc.® is a leading provider of integrated enabling technologies for financial services providers across the United States, Canada and other international markets.
IA Systems' flagship product, StreamLend Velocity, is a paperless, Web-based loan origination system that speeds credit and loan decisioning, integrates sales channels and manages risk for financial institutions. The system was carefully chosen by these institutions to further enhance automation and accelerate the lending process.
Allegacy FCU (Winston-Salem, N.C.), a top 100 credit union by assets, chose the paperless, end-to-end loan origination system to better automate and accelerate its lending process while further increasing efficiency by integrating with its core provider. Allegacy cites Open Solutions IA Systems' exceptional teamwork and commitment to ensure a successful implementation as key reasons for selecting the system.
"I cannot say enough about the Open Solutions IA Systems team and their commitment to our satisfaction and to a successful implementation. They were as committed as we were in doing whatever it took to get the job done and we greatly appreciate all their efforts," said Bill Lackey, CIO of Allegacy.
Others credit unions that implemented StreamLend Velocity include: University FCU (Austin, Texas); Clark County CU (Las Vegas, Nev.); Fresno County FCU (Fresno, Calif.); State Employees CU (Linthicum, Md.); Oklahoma Employees CU (Oklahoma City, Okla.); and Unitus Community CU (Portland, Ore).
"The 2008 fourth quarter achieved significant growth in implementations, evidencing StreamLend Velocity's value in the industry," said David Van Pelt, senior director of software development for Open Solutions IA Systems. "The lending landscape has significantly changed this past year but with a customizable and efficient lending system, these institutions will be equipped to meet future challenges head on. We're pleased with these institutions' decision to select our system, and we look forward to helping them improve lending efficiencies moving forward."
About Open Solutions IA Systems
IA Systems, an Open Solutions business unit, provides high-quality software solutions and services that automate lending operations and streamline business processes for the financial services industry.
Our flagship product, StreamLend® Velocity, provides credit unions, banks and other financial institutions with a loan origination system that is one of the most powerful, flexible and easy to use products in the lending industry. For more information about IA Systems and its products and services, visit www.IASystems.com or call 800.803.7554 ext. 279.
About Open Solutions Inc.
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, network services, HSAs, payments and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally 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' Web 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 2009. Open Solutions Inc. All rights reserved.
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