When New Jersey-based Roma Federal Savings Bank went looking for a core processing provider, the short list of requirements included a high-tech ASP environment, support for real-time transactions, and state-of-the-art reporting for building customer relationships.
The $568 million institution, which has six branches in the Trenton area, needed to make a quantum jump in order to modernize its decades-old technology. "Our former core data processing system served us for 30 years and was no longer meeting our changing needs," said Peter Inverso, president of Roma Federal Savings.
After a comprehensive review, the bank selected The Complete Banking Solution from Open Solutions. OSI's open platform, built on an Oracle relational database, and its ability to support real-time operations were the determining factors, Inverso said. The system is scheduled to be installed in June.
Benefits of the Open Solutions ASP alternative include a menu of enterprise core processing services, disaster recovery and ancillary application integration. Open Solutions also manages wide area networks, network security and scalability while providing a single solution for delivery systems such as ATM, IVR and Internet banking.
"Our ASP processing option allows institutions, such as Roma Federal Savings Bank, to take full advantage of our real-time relational technologies without the need to process in-house," said Gary Daniel, senior vice president of sales and marketing at Glastonbury, Conn.-based Open Solutions.
The ASP network is physically isolated from Open Solutions' internal corporate networks, thereby providing a high-level of security. Additionally, OSI's ASP employs Compaq servers, Cisco communications and firewall hardware to provide automatic load balancing and fail-over systems.