September 9, 2006 – (HOSTSEARCH.COM) – Strategic product platform provider Open Solutions (http://www.opensolutions.com), whose services include web hosting, has been chosen by Independent Bankers Bank (IBB) to provide its ISCheck solution and IP Cash Letter Processing services. The company’s solution and services will be offered to IBB’s more than 250 respondent banks in southeastern USA.
IBB believes its choice of Open Solutions will facilitate lower clearing costs for its customers and provide “better availability of funds and expert settlement services”. Open Solutions will perform IBB's aggregation and electronic clearing operations through its item processing center in Windsor Locks, Connecticut and regional processing centers in California. The company has the capability to electronically process images for all 50 states.
"Our customers wanted the ability to exchange image cash letters," suggested Diane Blangsted, Senior Vice President of Operations and Technology, "and Open Solutions had the most advanced product offering to compile and clear them in the most efficient way. Our longstanding relationship with Open Solutions as our core platform provider played a key role in selecting the company for this initiative, but the most important factor was that Open Solutions could supply the software to aggregate and archive the images we received, as well as function as our back office. They were the only provider with solutions that could meet the needs of our process; the other vendors needed us to alter our processes to fit their solutions."
"Image exchange is more than just sending and receiving images," added Ms. Blangsted. "Our customers were looking for an image check clearing solution that offered the best functionality and the most strategic processing possible. The Open Solutions team gave us the best option for keeping up with the pace of the industry as it moves toward electronic check clearing. This move is mission critical for our customers if they're going to remain competitive."
