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Open Solutions Launches Veri-Fast Accountholder Identification Solution

Open Solutions launches Veri-Fast accountholder identification solution; using two-factor authentication, solution is designed to help banks reduce fraud risk and improve service and efficiency.

Open Solutions Inc. (Glastonbury, Conn.) launched Veri-Fast, a solution designed to securely identify accountholders at the teller station. Open Solutions Inc. Veri-Fast uses two-factor authentication to identify accountholders. Members/customers swipe their ATM/debit cards and enters their PINs. Once the customer is verified, the software instantly retrieves the relationship profile.

In addition to reducing fraud, according to Open Solutions, Veri-fast improves service and efficiencies by automating the retrieval of accountholder files and eliminating teller keystrokes. The solution is available to financial institutions worldwide that run Open Solutions' The Complete Credit Union Solution (TCCUS) and The Complete Banking Solution (TCBS) core applications (versions DNA 2.1 and higher). Veri-Fast is also customizable to integrate with other core platforms on demand, according to Open Solutions.

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio

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