Open Solutions Endorses Fifth Third Processing Solutions’ EFT Payment Services
Expands strategic partnership relationship to deliver extensive electronic funds transfer capabilities
GLASTONBURY, Conn.--(BUSINESS WIRE)--Open Solutions Inc.®, a leading provider of integrated data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, announced its selection of Fifth Third Processing Solutions as a Preferred Partner for electronic funds transfer (EFT) services. Fifth Third Processing Solutions is one of the payments industry’s oldest and largest electronic processors, and Open Solutions will promote Fifth Third Processing Solutions’ services to its financial institution clients utilizing the company’s relational core processing platforms.
“Our mutual clients will benefit greatly from our shared resources.”
The relationship between Open Solutions and Fifth Third Processing Solutions affords numerous benefits to clients of both organizations. Financial institution clients may realize streamlined billing with a combined single invoice that includes both their core and EFT services. In addition, processing partners of both companies are able to take advantage of preferred pricing. The lower costs, coupled with streamlined billing activity, are designed to increase operational efficiencies for mutual customers.
“We value these preferred partner relationships and are pleased to expand our relationship with Open Solutions,” said Royal Cole, president, Financial Institution Services at Fifth Third Processing Solutions. “We are confident that our best-in-class processing will allow Open Solutions to deliver on their commitment to assist their clients and prospects with quality programs. We look forward to working with and providing services to their valued processing clients.”
Fifth Third Processing Solutions’ product suite includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, Rewards! product and other consultative services. The company shares approximately 60 mutual clients running Open Solutions’ core processing platforms, DNA™ and TotalPlus®.
“We’re confident in this agreement because Open Solutions and Fifth Third Processing Solutions share the same philosophy: design and deliver innovative technology and back it with superior customer service,” said David Mitchell, chief marketing officer at Open Solutions. “Our mutual clients will benefit greatly from our shared resources.”
About Open Solutions
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, 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.
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.
About Fifth Third Processing Solutions
Fifth Third Processing Solutions, LLC delivers innovative payment transaction processing and acceptance solutions to create and support complex payment strategies for merchants, businesses, and financial institutions around the world. A pioneer in card payment acceptance in the early 1970s, Fifth Third Processing Solutions is headquartered in Cincinnati, Ohio and is a joint venture with Advent International and Fifth Third Bank, a subsidiary of Fifth Third Bancorp (FITB)
As a premier full service payment solutions provider, the Company provides servicing solutions and product engineering for financial institutions’ and retailers’ credit card, debit card, merchant and private label programs processing over 33.3 billion ATM and point of sale transactions and over $315.5 billion in debit and credit card sales volume annually. The Company supports over 180,000 merchant and financial institution locations and 11,000 ATMs in 44 states and 11 countries. According to the Nilson Report (March 2009), the Company is the fourth largest U.S. merchant purchase transaction acquirer. Learn more at www.FTPSLLC.com.
Editor’s Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.
Contacts
Open Solutions Inc.
Deborah Katz, 860-815-5385
VP, Corporate Marketing
deb.katz@opensolutions.com
www.opensolutions.com
or
Fifth Third Processing Solutions
Lynn M. Rhoads, 513-534-7742
Lynn.Rhoads@53.com
www.ftpsllc.com
Deborah Katz, 860-815-5385
VP, Corporate Marketing
deb.katz@opensolutions.com
www.opensolutions.com
or
Fifth Third Processing Solutions
Lynn M. Rhoads, 513-534-7742
Lynn.Rhoads@53.com
www.ftpsllc.com
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