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Netkey and Open Solutions Partner to Increase Access to Customer Touch Points for Banks and Credit Unions
- Financial Services Technology Leaders Team to Provide Comprehensive Multi-channel Solution -
BRANFORD, Conn. and GLASTONBURY, Conn. – February 5, 2002 – Netkey, Inc. and Open Solutions Inc. (OSI) announced an alliance to offer banks and credit unions a comprehensive Internet banking delivery system for customers to conduct business via self-service kiosks.
Financial services providers are finding the Internet to be a powerful and low cost delivery channel in an increasingly competitive landscape. Self-service Web kiosks in branch offices and other public locations can be a critical part of an integrated retail delivery and customer relationship management (CRM) strategy. By working together, Netkey and Open Solutions offer a bundled, end-to-end Internet banking solution that increases speed to market, reduces the total cost of ownership, and delivers a measurable return on investment.
The joint solution helps banks and credit unions:
-- Migrate customers from teller-based transactions to on-line banking to reduce costs.
-- Enhance customer satisfaction by providing needed Web-based services in the branch office.
-- Increase revenue and “share of wallet” by offering additional products and services via cross-sell and up-sell opportunities.
Analysts view kiosks as a valuable tool for increasing customer touch points. “Banks are now developing financial services kiosks as a way to better serve their customers by once again extending their reach to the customer,” said analyst Paul Jamieson of Gomez Research in a recent report. “No need to stand in line waiting for a teller when you can immediately reorder checks, stop a payment, transfer some funds or check your balance at a self-service kiosk. Financial institutions are rapidly developing their Internet banking services with an aim to migrate their customers to this lower cost service channel. While consumers are migrating to such a channel, the use of Web-enabled kiosks can help accelerate this trend.”
Open Solutions provides a full suite of enabling technologies that include relational core account processing and delivery systems for community banks and credit unions throughout the United States. Additionally, OSI provides a powerful suite of Internet banking and cash management products and services. Mike Nicastro, senior vice president and general manager of OSI’s Delivery Services Group said, “Open Solutions identified an additional opportunity to further help community banks and credit unions market their Web-based services. Research has shown that kiosks are one of the most effective ways to market the e-commerce offerings of banks and credit unions. This combined offering fits into our overall strategy of continually providing innovative technology products and services to our clients and the financial services sector.”
Open Solutions choose to partner with Netkey, Inc., the leading provider of enterprise solutions for self-service systems, for its expertise in kiosks and Web-ATMs for financial institutions. Netkey provides a comprehensive suite of software and services that help businesses increase revenues and improve customer relationships through self-service channels. The Netkey solution is used by hundreds of companies worldwide to transact with and service customers through kiosks and other customer-facing technologies.
“Netkey has built an extensive knowledge base for creating self-service solutions for financial institutions,” said Alex Richardson, CEO of Netkey. “OSI’s enabling products and solutions for community banks and credit unions are exceptional. We see this partnership as a strategic alliance that will serve the financial services industry as a whole.”
To complete the offering, Netkey tapped Companion Systems Design and Manufacturing, based in Salt Lake City, Utah, for its experience in the design, manufacture, and integration of computer components of Internet kiosks for the financial market. Companion Systems designed a kiosk especially for this offering to accommodate the unique criteria of the solution to the market.
About Open Solutions
Open Solutions Inc. (OSI) offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle relational data base, with Internet banking, cash management, electronic commerce, lending management and imaging solutions. OSI’s full suite of products and services allows banks and credit unions to better compete in today’s aggressive financial services marketplace, expand and tap their trusted financial relationships, client affinity, community presence and personalized service. For more information about Open Solutions, please contact Mickey Goldwasser at 860.652.3153, via fax at 860.652.3156, or email [email protected] Visit OSI’s Internet site at www.opensolutions.com
Netkey is the premier provider of self-service solutions for customer-focused businesses. Netkey's customers in the financial services industry include E*Trade, Fidelity Investments, Fleet, Island ECN and Wachovia. The company holds three U.S. patents for its self-service technology. For more information on Netkey, please contact the company at 1-800-443-7924, via e-mail at [email protected], or visit Netkey on the Web at www.netkey.com
Open Solutions Inc.