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April 7, 2010

Indiana First Savings Bank Extends Outsourcing Contract With Open Solutions

Indiana First Savings Bank, a Pennsylvania-based community bank, has extended its contract with Open Solutions, a provider of software services for financial institutions, to upgrade its technology to Open Solutions’ latest release DNA.

By CBR Staff Writer

Indiana First Savings Bank has more than 25,000 accounts, five locations and $230m in assets. The institution has made the decision to upgrade from Open Solutions’ TotalPlus processing platform to DNA and operate in an outsourced environment.

The technical upgradation is expected to enable the bank to further streamline its account opening procedures, improve teller transactions and make other operational enhancements. Additionally, the bank cites ease of use, enhanced navigation and management reporting as significant reasons for the upgrade.

Open Solutions’ DNA capitalizes on its universal data model and design and its client-centric processes, while enhancing workflow, flexibility, navigation and productivity. Built on a centralized Oracle relational database, the solution provides the flexibility necessary for running a service-oriented financial institution. The solution helps banks streamline both front- and back-office processes and creates a centralized view of customers, employees and business partners.

In addition to DNA, Indiana First Savings Bank also purchased Open Solutions’ financial accounting suite, financial planning, digital document solution (electronic document management), telephony/VRU and cView (CRM/business intelligence).

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Gene Thibodoux, vice president of operations for Indiana First Savings Bank, said: “We believe this complete relationship-view of our customers will provide a significant competitive advantage, as well as enable us to better serve our customers. Additionally, we were looking for a solution that would provide a more streamlined, workflow-oriented approach for opening accounts. Open Solutions’ was the only provider that met this need and provided the user-friendly approach we were looking for in a system.

“We are also taking advantage of the flexibility of the system by operating in an outsourced environment. By operating in an outsourced environment we reduce our IT risk and gain significant disaster recovery planning benefits.”

Louis Hernandez, chairman and CEO of Open Solutions, said: “We designed DNA specifically with the end-user in mind. The usability of the system combined with the modern architecture enables both the front-line staff and the management team to easily open accounts, provide the right product to the right customer at the right time and manage reporting, and it gives them a better understanding of the overall relationship with each customer.

“Community banks face very unique challenges and our enterprise-wide processing core platform is designed to address those challenges and enable banks to meet and exceed business goals.”

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