$5.8 Billion CapitalSource Bank Chooses Open Solutions’ Enterprise-Wide Relational Data Processing Platform
DNA platform’s increased flexibility moves bank into the future
GLASTONBURY, Conn.--CapitalSource Bank announced it has selected Open Solutions Inc.®’s The Complete Banking Solution®: DNA (TCBS: DNA), the latest release of its relational core data processing platform. Open Solutions is a provider of integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets.
Based in Los Angeles, Calif., CapitalSource Bank has $5.8 billion in assets and manages more than 100,000 accounts throughout its 22 branches in southern California. According to Jill Barnes, executive vice president at CapitalSource Bank, greater flexibility was the bank’s primary reason for implementing TCBS: DNA and moving away from the legacy platform they had been using.
“Our previous system did not have the flexibility we needed in a core data processing platform,” said Barnes. “When we began our search for a new partner, that was our primary requirement. With Open Solutions’ DNA platform, CapitalSource Bank benefits from a fully-integrated, relational core data processing solution that positions us well for the future of banking. We anticipate long-term value from TCBS: DNA’s increased functionality and flexibility to create new opportunities for growth.”
In addition to The Complete Banking Solution: DNA, CapitalSource Bank also implemented Open Solutions’ Digital Document Solutions, which provides content management services to capture and deliver browser-based access to key bank records, and cView™ ReportWizard™ to archive financial reports.
The Complete Banking Solution: DNA is built on a powerful, centralized Oracle® relational database designed to be an open architecture application, creating the flexibility necessary for running a service-oriented financial institution. By capitalizing on the strength of Open Solutions’ unique universal data model and .NET design, it helps banks streamline both front- and back-office processes and creates a centralized view of customers, employees and business partners.
“Flexibility in technology is imperative, especially in today’s environment,” said Louis Hernandez, Jr., chairman and chief executive officer at Open Solutions. “At Open Solutions, our goal is to provide solutions that enable institutions to bank well into the future, and that requires a flexible core platform. Our core system is designed to mirror the way banks do business today and to easily accommodate any changes that arise in the future. With TCBS: DNA, CapitalSource Bank will have many new opportunities for growth, including real-time relationship management at the point of contact, streamlined operations and the ability to quickly present new financial products and services that answer immediate customer needs. Even in this down economy, CapitalSource sees the big picture of being in the best possible position once the economy turns around. We look forward to working with CapitalSource Bank, and we are confident in our abilities to help position them for an even brighter future.”
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, 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.
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