COWWW Software, a business unit of Open Solutions Inc. and provider of an information archive and delivery system for financial institutions, has announced that Burbank, Calif.-based AFTRA-SAG Federal Credit Union has signed a five-year agreement with them.
The credit union selected the image report and archive solution, as well as its e-Statement and e-Notice solutions to streamline its document-intensive processes and improve member services. Open Solutions is a leading provider of integrated, enterprisewide data processing technologies for banks and credit unions throughout the United States and Canada.
Established in 1962, AFTRA-SAG Federal Credit Union serves more than 31,000 members and has approximately $214 million in assets. "With Open Solutions' COWWW software suite, our members will now have the added convenience of accessing their statements from home," said Roger Runyan, chief financial officer of AFTRA-SAG Federal Credit Union. "Tax time is one prominent example of the efficiencies our members will gain. Members can now easily retrieve missing tax documents without requiring assistance from credit union staff, saving them time and freeing up our employees to focus on other member-service initiatives. Additionally, overdraft notices will be e-mailed the same day versus relying on Postal Service mail which results in a delay of two to three days."
"You are walking through a minefield when selecting a document imaging system for a credit union," Runyan said. "We went through an extensive selection process before selecting this imaging system because of its proven history and solid foundation in sophisticated technology. In fact, four institutions within five miles of our credit union are using their imaging platform. One of the key drivers in our decision was product support. The industry expertise of the support team, coupled with their software engineering backgrounds, gave us the added confidence that we've entered into a strong partnership. This is critical for successful technology installations."
"At Open Solutions, we're dedicated to providing community financial institutions like AFTRA-SAG Federal Credit Union with the applications and tools they need to better leverage their document management efforts and provide their members with more personalized service and a full range of product offerings," said Louis Hernandez, Jr., Open Solutions' chairman and CEO. "Streamlining operations in terms of document management and creating member value are the types of advantages credit unions need to remain competitive. We're building technology solutions to help financial institutions effectively implement those strategies. We are delighted AFTRA-SAG Federal Credit Union selected us for our proven imaging handling technology."
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, interactive voice response, network services, Web hosting and design, and payment 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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