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Open Solutions Announces Release 1.10 of cView Business Intelligence and Relationship Management Solution

GLASTONBURY, Conn.--(BUSINESS WIRE)--Aug. 3, 2004--Open Solutions Inc. (NASDAQ: OPEN), a provider of integrated enabling technologies for financial institutions, announced the release of version 1.10 of cView(TM), its advanced suite of relationship management and business intelligence tools. The cView suite is pre-integrated with Open Solutions' relational core processing platform but can also be used with other vendor's processing platforms. It was designed to help financial institutions better manage customer and member interactions and expand relationships with prospects.
cView gives financial institutions a comprehensive profile of each customer or member relationship. Release 1.10 provides new functionality, performance and technology improvements while addressing several client requests. Enhancements include the integration of Microsoft(R) functionalities such as Map Point, allowing financial institutions to visualize analytic results on highly customizable maps. The reporting functionality has been equipped with more dynamic publishing tools and activity management has undergone significant enhancements to allow clients even more flexibility in the types of activities managed by the process, increasing the amount of detailed data that can be collected. Clients can now use the same tool for referrals, service requests, surveys and pipeline management..

"Institutions already have an abundance of customer information; it just needs to be filtered and proactively delivered to employees at the most opportune times," said Mike Nicastro, senior vice president and general manager of Open Solutions' Strategic Solutions Group. "With the new cView enhancements, back-office information is automatically converted into knowledge employees can use to create actionable activities, like needs-based cross-selling. The more intuitive integration and reporting tools embedded in release 1.10 should create and distribute knowledge, leverage customer and member interactions and optimize direct marketing campaigns. The enhancements touch all applications from the system's ability to help manage sales leads and service requests to evaluating staff performance."

The first financial institution to implement the cView 1.10 release is Fort Wayne, Ind.-based Three Rivers FCU. According to President Jeff Meyers, the cView product is key to his institution's strategy to propel the credit union to the next level of service. "When it comes to member relationships, you can never have too much insight. With the latest cView release, we are continuing to increase cross-sell opportunities and grow our membership."

"The enhanced Activity Manager application allows management to do just that, manage all activities associated with a particular member," Meyer said. "It tracks all the information any of our representatives could possibly need about that member. We already have 27 different pre-determined types of activities that have made cross-selling or follow-up so much easier. We also publish dynamic messages that automatically 'pop-up' on the screen to alert a representative as to what action needs to happen so nothing accidentally 'slips through the cracks.'"

Meyer added, "Even though we have increased knowledge of our member base and improved many processes by utilizing cView, we anticipate taking full advantage of all the functionality within the cView product in the coming months."

Open Solutions' cView suite helps financial institutions focus on increasing sales, better controlling the customer base and minimizing financial risks while improving service and efficiencies and maximizing returns. The premise behind cView is to integrate two key functional areas of the financial institution - customer contact and knowledge management.

"Not only is the system easier to navigate and even more intuitive," said Lizette Nigro, product manager for Open Solutions, "We believe that Release 1.10 also leverages our clients contacts with customers and members by allowing the collection of detailed information about every activity performed. Our belief is that every consumer interaction is an opportunity to gather or deliver information to build that relationship. These are the industries very best tools to facilitate that level of high-impact, profitable exchange with credit union members and bank customers."

About Open Solutions Inc.

Open Solutions Inc. offers a fully featured strategic product platform that integrates core data processing applications, built on a single centralized Oracle(R) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting tools, imaging, Check 21, interactive voice response and loan origination solutions. Open Solutions' full suite of products and services is designed to allow banks, thrifts and credit unions 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, or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com, by phone at (860) 652.3153 or via fax at (860) 652.3156. Visit Open Solutions' Internet site at www.opensolutions.com.

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

Safe Harbor Statement

Statements made in this press release that state Open Solutions Inc.'s or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. All forward looking-statements are only as of the date of this press release and Open Solutions Inc. undertakes no obligation to update or revise them. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause Open Solutions Inc.'s actual results to differ materially from those projected in such forward-looking statements. For example, we could lose existing clients and be unable to attract new business if we fail to adapt our products and services to changes in technology or in the marketplace. Likewise, the design of other core vendors' software or their use of financial incentives may make it difficult for clients to use our complementary products. Other factors which could cause our actual results to differ materially from those projected in forward-looking statements include, without limitation, economic, competitive, governmental and technological factors affecting the banking and credit union industry and/or Open Solutions Inc.'s operations, markets, products, services, prices, and other factors set forth under the heading "Factors Affecting Future Operating Results" in Open Solutions' Quarterly Report on Form 10-Q for the three months ended March 31, 2004, as filed with the Securities and Exchange Commission.

Contacts


Open Solutions Inc., Glastonbury
Marvin (Mickey) Goldwasser, 860-652-3153
mgoldwasser@opensolutions.com
or
Andrew McCaskill, 678-781-7210

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