|[April 24, 2012]
$2.3 Billion Cambridge Savings Bank Selects DNA as Its Core Platform for the Future
GLASTONBURY, Conn. --(Business Wire)--
Solutions Inc. ®, the leading provider of collaborative enterprise
technology to community-based financial institutions worldwide,
announced today that Cambridge Savings Bank has selected Open Solutions'
DNA™ relational core banking platform for its enterprise-wide, core
Cambridge Savings Bank, based in Cambridge, MA, is a leading community
bank serving consumers, businesses and non-profit organizations. It is
the tenth largest community bank in Massachusetts, with more than $2.3
billion in assets and over 126,000 accounts served by 16 branches in the
greater Boston area. Although it is one of the oldest banks in
Massachusetts, Cambridge Savings Bank is also one of the most innovative
and progressive banks in the industry and is an active supporter of all
of the communities the bank serves.
Cambridge Savings Bank will migrate to DNA from another Open Solutions
core product, TotalPlus. The bank will implement DNA On-Demand through
Open Solutions' Global Operations Center. The bank has also selected a
full suite of Channel Optimization and Business Intelligence Solutions
designed to extend the power of DNA, as well as pre-conversion and
Services to implement and maintain best practices.
"Cambridge Savings Bank has always been ambitious and diligent in our
plans. We reviewed a variety of core options for their current
functionality and their ability to meet our future requirements. In the
end, we decided that Open Solutions' DNA was best positioned to deliver
the features and scalability we needed. As a long-time Open Solutions
client, we were also familiar with the high level of support that Open
Solutions provides," said Mark Tracy, Senior Vice President at Cambridge
Open Solutions' DNA™ is the first major platform created around the
person, not the transaction, enabling community-based financial
nstitutions to know more about their customer relationships so they can
anticipate and serve customer needs. It is also the first platform
designed to serve financial institutions globally with a single code
line, while providing the flexibility to be tailored to the diverse
market needs of banks, credit unions and other financial services
organizations operating anywhere in the world. And DNA is designed to
easily integrate new capabilities, making it the only platform that
allows its user community to collaborate and share technology - using
Open Solutions' DNAcreator™ toolset and the DNAappstore™ - to reduce
costs and deploy innovative solutions more quickly.
"Our friends at Cambridge Savings Bank have recognized that DNA is a
radically different platform that represents the future of enterprise
core technology," said Open Solutions Chairman and CEO Louis Hernandez,
Jr. "Cambridge Savings is a strong and forward-looking bank, and I am
proud they have chosen Open Solutions and DNA over the competition to
grow their retail and commercial customer relationships. What makes DNA
so powerful is the global network of financial institutions in the US
and around the world sharing ideas and innovations for the benefit of
the entire community."
Cambridge Savings Bank
Cambridge Savings Bank is a full-service financial institution with $2.3
billion in assets. As one of the oldest and largest community banks in
Massachusetts, the Bank offers a full line of individual and business
banking services and has 16 banking centers located in Cambridge, Acton,
Arlington, Bedford, Belmont, Burlington, Concord, Lexington, Newton and
Watertown. For more information on Cambridge Savings Bank, please visit www.cambridgesavings.com.
Like them on Facebook (News - Alert) at www.facebook.com/cambridgesavings
or follow Cambridge Savings Bank on Twitter (News - Alert) at www.twitter.com/csbinspired.
Open Solutions Inc.
Open Solutions Inc.® helps community-based financial institutions around
the world enrich their local economies by providing innovative
technologies and insights that enable them to operate more profitably,
efficiently and collaboratively.
Industry pioneers, Open Solutions revolutionized enterprise technology
with DNA™, the first open, relationship-centered core banking platform
built for global collaboration. This radically different approach to
enterprise technology enables banks and credit unions around the world
to leverage the power of community through DNAappstore™, the first-ever
collaborative marketplace for user-created core enhancements.
Extending the power of DNA further, Open Solutions offers a full range
of complementary software solutions for payments, item processing,
distributed capture, internet banking, mobile banking, CRM, business
intelligence, loan origination, financial accounting, account analysis,
wealth management, digital document management and interactive voice
response. It also offers complete hardware solutions, plus independent
industry insight and guidance from Raddon Financial Group.
For more information about Open Solutions, visit Open Solutions at www.opensolutions.com.
You can also fan Open Solutions on http://www.facebook.com/opensolutionsinc
or follow Open Solutions via Twitter @OpenSolutionsCC.
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 2012, Open Solutions Inc. All rights
There's Power in Community.
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 2012 Open Solutions Inc. All rights reserved.
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