File Access

Open Solutions, a vendor of integrated technologies for financial services providers, today announced an international reseller partnership agreement with Senior Solution, a Brazilian software and services provider for the financial market.

 

Through this partnership, Senior Solutions officials say, they will offer all Open Solutions’ products and services, including The Complete Banking Solution, to its retail banking client base within the Latin American financial services marketplace.

 

The platform integrates with Senior Solution’s wholesale banking system for treasury, brokerage and insurance markets.

 

“Historically, Brazilian banks had extremely fragmented software environments,” said Aurimar (Harry) Cerqueira, commercial director for Senior Solution. “For core processing, there are as many as 50 separate products from numerous vendors.”

 

Open Solutions seems to want to expand its international presence through strategic reseller agreements. In early 2008, the company announced a partnership with Hildebrando, a Mexican IT corporation with a presence in Spain that provides software development, systems integration, business intelligence and outsourcing services.

 

Open Solutions formed several strategic partnerships throughout 2007, including Thailand Equipment Research Co., Asian-based Solution Corner, Canadian-based Celero, Asian-based CSII, Asian-based Thien Nam Information Technology and India-based R Systems.

 

“The international marketplace is tremendously important to us,” Open Solutions Senior Vice President of International Operations Wayne Ginn said.

 

And last month, National Bank of Kuwait SAK, New York branch, selected Open Solutions’s image-based item processing product.

 

Founded in 1952 as the first national bank in the Gulf Region – see, if you’re not careful you can learn a bit of history in these articles – National Bank of Kuwait has grown to become the largest and most dominant financial institution in Kuwait.

 

The bank also has an extensive regional and international network with branches, subsidiaries and regional offices in New York, London, Paris, Geneva, Lebanon, Jordon, Bahrain, Qatar, Singapore, China, Iraq and Saudi Arabia. NBK’s New York branch, NBK NY, has more than $800 million in assets. The U.S. branch was established in 1984 to complement the services of its Kuwait branches.

 

“By deploying an imaging product in our New York office, we will be able to automate most of our check processing, streamlining our workflow and reducing costs associated with manual processes,” said Rex Richardson, assistant general manager, NBK, New York Office.