Financial executives encouraged to commit to excellence; focus on innovation
GLASTONBURY, Conn.--(BUSINESS WIRE)--Open Solutions Inc.®, a leading provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, hosted its annual Client Conference & Solutions Expo at the Gaylord Texan Resort and Convention Center in Dallas, Texas, attracting more than 1,000 financial services executives, industry professionals and partners from throughout the world. Additionally, a Solutions Expo of nearly 70 conference sponsors and commercialized partners provided an opportunity for attendees to learn about the latest product solutions and services Open Solutions offers.“The book examines the vitality and energy that in years past characterized the financial services industry”
During the welcome address, the Chairman and CEO of Open Solutions, Louis Hernandez, Jr., highlighted some of the company’s milestones and discussed some of the most recent product and solution innovations. In particular, Hernandez recognized Simsbury Bank, Open Solutions’ first client who initially signed in 1995 and upgraded to the company’s leading-edge DNA™ platform earlier this year. Additionally, he recognized the completion of the company’s transformation, which included more than $100 million invested into technology, products, people and process improvements.
Additionally, the company announced plans to introduce an industry game-changer into the marketplace: DNAcreator. This latest technology will further increase the openness of Open’s product line by providing clients and partners the ability to design, build and share their own features built on the DNA platform. As a result, many of the traditional barriers to implementing changes to the core system, including cost and lack of resources, will be eliminated for DNA clients. Open’s DNA clients will no longer have to wait for the next release to take advantage of features and functionality. They’ll be able to build apps as needed and install them on top of the core database. The company expects to make the DNAcreator available to a select group of clients in September, with a full roll-out sometime thereafter.
“The client conference is a significant event for our entire staff, as well as our family of clients,” said Hernandez. “It is an opportunity for us to collaborate on new ideas, reflect on the past year and share best practices. We value our clients and the significant role they play in advancing our organization. I believe the high renewal rate, nearly 100 percent to date in 2010, coupled with the increasing number of clients who serve as references for prospects, speaks directly to how much we value and incorporate our clients’ suggestions. The feedback we receive at the client conference and throughout the year directly influences Open Solutions’ product roadmaps. I am extremely proud of the improvements we’ve made and credit most of our achievements to the strong partnership we have with our clients.”
Presentations were given by industry thought leaders, peer groups and Open Solutions executives on current trends and issues. Client-specific sessions offered interactive dialogue with Open Solutions’ development and client service teams to discuss ideas and develop technology-based strategies for growth and efficiency.
“The client conference was a great opportunity to highlight our mutual achievements, as well as discuss future initiatives,” said David Mitchell, senior vice president and chief marketing officer for Open Solutions. “We have a plan in place to further incorporate Lean Six Sigma methodology into every aspect of our business, including corporate-wide training. Moving forward, we have put procedures in place to ensure client satisfaction levels continue to improve, and that every client has the same experience. During the conference, we announced the launch of a customer experience program that will map the voice of the client and will attach measurable metrics to ensure we are continuously improving in this area.”
Attendees of the conference participated in informative workshops and interactive demonstrations of the relational core data processing platforms (DNA, TotalPlus® and DNA-sme™), Internet banking, interactive voice response/telephony, teller capture, remote deposit capture, imaging, loan origination, financial accounting, CRM/business intelligence and digital document solutions.
The client conference also marked the global release of Chairman and CEO Louis Hernandez, Jr.’s new book, “Too Small to Fail: How the Financial Crisis Changed the World’s Perceptions” (AuthorHouse). The book illustrates how the rate of change impacting the financial services industry is accelerating. Hernandez notes that the industry has been slow to respond to change and how the focus on the recent economic crisis uncovered fundamental problems that financial institutions have been avoiding.
“The book examines the vitality and energy that in years past characterized the financial services industry,” commented Hernandez. “It was only fitting that the book be launched at the client conference, which is such a strong example of camaraderie and collaboration. Many of our clients will be responsible for shaping the next chapter in the financial industry. The book is a call to action to all financial executives to emerge from the crisis with a renewed focus on innovation and excellence.”
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic 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 tools, imaging, digital documents, Check 21, wealth management, interactive voice response, technology services, 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.
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