October 21, 2010

Open Solutions Inc. , the Glastonbury, Conn.-based provider of integrated enabling technologies for financial institutions, has released the newest version of its enterprise-wide core relational platform, DNA 3.0. The first new release since DNA was introduced in 2008, DNA 3.0 has more than 120 enhancements.

"In the wake of recent regulatory changes, we sought to enhance our core platform and enable our financial institution clients to succeed in a troubled economy. Recent changes to the financial regulatory environment have challenged institutions to look for non-traditional sources of revenue. Driven by this need in both the market and our client base, DNA 3.0 will enable institutions to create new revenue opportunities by supporting their ability to offer new products and services," said Esther D'Albero, VP of core product development at Open Solutions, in a press release.

DNA 3.0 also enables financial institutions to offer new products and services to small business customers, and gives them more opportunities to cross-sell because products are better segmented in the new version, according to Open Solutions. D'Albero added, "The core conversion process has also been significantly improved with the new release. As financial institutions increasingly seek M&A opportunities as a result of losses during the financial industry crisis and in the post-crisis environment, DNA 3.0 enables merging institutions to promote M&A excellence." Open Solutions announced earlier this year that all its U.S. clients have converted from the former TCBS/TCCUS platform to the company's DNA platform.

ABOUT THE AUTHOR
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 & ...