GLASTONBURY, Conn.--(BUSINESS WIRE)--Open Solutions Inc.®, a leading provider of integrated enabling technologies for financial services providers throughout the United States, Canada and other international markets, has signed a strategic partnership agreement with Richardson, Texas-based Innovative Support Solutions (ISS), by which ISS will supply its Informant fraud detection solution to Open Solutions’ core clients. The two companies have completed a commercialization process that enabled seamless integration of Informant with Open Solutions’ premier core platform, known as DNA.



The ISS Informant product is a comprehensive suite of flexible and highly customizable components. These components are specialized for real-time monitoring of security and risk management solutions for financial institutions and their clients. Informant components monitor and report on areas of government regulation and compliance, database system intrusion, internal audit policies and transaction based fraud across all member accounts. Every component is customizable to the specific requirements of the financial institution and is kept current with developing trends in fraud and identity theft.



Eric Anderson, Open Solutions’ vice president of Strategic Alliances, said, “We’re very pleased to have formed this strategic alliance with ISS and to be able to offer Informant as a DNA-integrated solution. It’s an excellent solution that offers around-the-clock protection against fraudulent transactions, and knowing it’s been through a rigorous commercialization process with DNA will provide our clients with even more peace of mind.”



“Open Solutions has a reputation for innovative technology and we’re happy they recognized the innovation at work in Informant,” said Ray Seefeldt, president of ISS. “Both companies — and our clients — will benefit from the alliance, and that’s more important than ever. Gartner Group estimates that fraud losses represent roughly seven percent of a financial services institution’s gross revenue. This amount and the instances of financial fraud continue to rise more than 10 percent annually. Transaction analysis, in real-time, is a key component in reducing fraud.”



About Innovative Support Solutions (ISS)



Innovative Support Solutions (ISS) is a tactical services credit union service organization (CUSO) fully owned by Texans Credit Union. ISS provides risk management and fraud protection, operations and consulting services to financial services and related industries.



About Open Solutions Inc.



Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core 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, technology 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, visit 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 2010 Open Solutions Inc. All rights reserved.