Open Solutions Reports Breakthrough InCheck 21

May 19, 2006, 1:00 a.m. EDT 1 Min Read

GLASTONBURY, Ct. - (05/19/06) Open Solutions Inc. announcedThursday that its Image Item Processing Center in nearby WindsorLocks, Ct., has successfully transmitted Image Cash Letters. Thisis a major strategic step for Open Solutions and will allow it tooffer an alternative to the Federal Reserve by allowing creditunions and banks to deposit their Image Cash Letters at multipleendpoints. The transmission was sent to Bank of America. OpenSolutions claims it is the first third-party vendor in the U.S. tosend an Image Cash Letter to the Federal Reserve.

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