Open Solutions Inc., a provider of integrated data-processing technologies for banks and credit unions throughout North America and international markets, has signed Fifth Third Processing Solutions on as a preferred partner for electronic funds transfer services.
According to a news release from Fifth Third Processing Solutions, Open Solutions will promote Fifth Third Processing Solutions' services to its financial-institution clients through its relational core processing platforms.
The relationship between Open Solutions and Fifth Third Processing Solutions affords numerous benefits to clients of both organizations, Fifth Third says. Financial institution clients may realize streamlined billing with a combined single invoice that includes their core and EFT services. In addition, processing partners of both companies are able to take advantage of preferred pricing.
The lower costs, coupled with streamlined billing activity, are designed to increase operational efficiencies for mutual customers.
"We value these preferred partner relationships and are pleased to expand our relationship with Open Solutions," said Royal Cole, president of FI services at Fifth Third Processing Solutions. "We are confident that our best-in-class processing will allow Open Solutions to deliver on their commitment to assist their clients and prospects with quality programs."
Fifth Third Processing Solutions' product suite includes ATM terminal driving and monitoring, ATM and debit card transaction authorization and processing, national and regional gateway services, comprehensive ancillary services including fraud detection, card production, the Rewards! product and other consultative services. The company shares approximately 60 mutual clients running Open Solutions' core processing platforms, DNA and TotalPlus.
