Simsbury Bank, a wholly owned subsidiary of SBT Bancorp, has decided to extend its contract with Open Solutions and upgrade its technology to Open Solutions’s latest core release, The Complete Banking Solution: DNA.
Open Solutions also said that enhanced by its advanced open platform and using .NET technology, The Complete Banking Solution: DNA capitalises on the strength of Open Solutions’s universal data model and design and its client-centric processes, while enhancing workflow, flexibility, navigation and productivity.
Built on OracleO relational database, the service is claimed to provide the flexibility necessary for running a service-oriented financial institution. Available as an in-house or outsourced service, it helps banks streamline both front- and back-office processes and creates a centralised view of customers, employees and business partners.
Simsbury Bank also utilises Open Solutions’s financial accounting suite, e-Commerce Banker, loan origination system and asset liability management service. Following the upgrade to TCBS: DNA, the bank will implement Open Solutions’s cView, digital document solution, and telephony/VRU.
Howard Zern, chief of retail banking and operations and technology officer at Simsbury Bank, said: With TCBS: DNA, the bank will be able to rapidly deploy new products, remaining competitive with larger financial institutions, while leveraging the integrated database to maintain superior customer service and deepen existing customer relationships. So when we were looking to renew, we did a complete search and Open Solutions was still the best fit for our needs.
