SOURCE: OpenClose


September 14, 2011 08:17 ET

OpenClose's Social Media for Banks and Lenders, and Loan Software Now Being Referred by Open Solutions to Its Credit Union and Community Banking Clients

WEST PALM BEACH, FL--(Marketwire - Sep 14, 2011) - OpenClose, developers of web-based mortgage software solutions, has entered into an agreement with Open Solutions, a leading provider of integrated enabling technologies for financial services providers, to refer OpenClose's loan origination software, loan pricing, and social media software for banks and credit unions.

Through its referral agreement with OpenClose, Open Solutions can offer its clients a robust new mortgage suite that includes loan origination, loan pricing and a decisioning engine. The technology allows banks and credit unions to offer their customers highly competitive rates and improved service through quicker, streamlined operations. Automated functions allow users to work easier, faster and more accurately, which will allow financial institutions to provide better customer/member service. The loan origination software can be used in multiple branches, grow with an institution and protect it with a strict compliance program that features checks and balances.

"Open Solutions is a leading innovator of core banking solutions that help financial institutions operate more profitably, efficiently and collaboratively," said J.P. Kelly, President, OpenClose. "For years we concentrated our sales efforts on mortgage lenders, but have created new solutions to fill a void in the community bank and credit union space. Open Solutions provides a complementary product line to a wealth of clients that can benefit greatly through this new partnership."

Open Solutions clients can also benefit from OpenClose Social™ to monitor social media and turn Internet chatter into new business. OpenClose Social lets financial institutions know what members, customers, competitors, the media and others are saying in online forums like Facebook, YouTube, Twitter, LinkedIn, WordPress and other websites, blogs and newswires. The program empowers financial institutions to respond with informed, strategic and targeted social media campaigns that position banks and credit unions as trusted financial partners.

"Open Solutions is committed to offering best of breed solutions that help our clients capture market share and grow their businesses," said Dave Reim, director of loan origination at Open Solutions. "By partnering with OpenClose, we're introducing our clients to the important tools they need to grow their loan origination business and leverage the power of social media to reach consumers and small businesses in new and meaningful ways," continued Reim.

About OpenClose
OpenClose® is a pioneer of Software as a Service (SaaS) computing solutions for the financial industry since 1999. It provides a variety of Web-based products for credit unions, banks, and mortgage lenders from loan origination software, loan pricing, website design and social media marketing. In 2010, the company released OpenClose Social: the first online social media management solution for credit unions, banks, and mortgage lenders.

For more information about OpenClose, visit OpenClose at You can also fan OpenClose at or follow OpenClose via Twitter at @OpenCloseSocial.

About Open Solutions

Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core processing applications built on a single centralized Oracle relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.

For more information about Open Solutions, visit Open Solutions at You can also fan Open Solutions at or follow Open Solutions via Twitter @OpenSolutionsCC.

Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2011 Open Solutions Inc. All rights reserved.

Contact Information

    Frank Bocchino
    (561) 804-4576