OSI Acquires FDSI; Signs Western Sun FCU
Open Solutions Inc. has acquired California-based Financial Data Solutions, Inc. (FDSI) from Southwest Community Bancorp. FDSI provides image and remittance item processing, and image statement and rendering services. Under the terms of the agreement, Open Solutions will acquire FDSI, which in 2004 had revenues of approximately $6 million and was profitable, for approximately $9 million in cash.
FDSI will become part of Open Solutions' Item Processing Systems business unit reporting into the company's Strategic Solutions Group.
Separately, OSI reported that Western Sun FCU, Broken Arrow, Okla., has selected the company's relational core data processing suite, The Complete Credit Union Solution, to handle its core data processing needs via its Technology Outsourcing Center.
The $78-million credit union cited Open Solutions' core processing abilities, open architecture and member-centric platform as some of the key factors that they believe will allow WSFCU to better serve its growing membership.
Finally, OSI has introduced the "Interaction Management Center." The product, designed for "frontline and call center employees," offers centralized access to CRM/business intelligence functionality, common transactional capabilities and business process management tools, the company said, which helps efficiency.
For info: www.opensolutions.com.