ALBANY, N.Y., Oct. 17, 2007– IA Systems, an Open Solutions business unit and a provider of lending software and services for financial institutions, announced that Wright-Patt Credit Union selected StreamLend® Velocity. The Fairborn, Ohio-based credit union chose the paperless, end-to-end loan origination system to better automate and accelerate its lending process while further increasing efficiency by integrating with its core provider. Wright-Patt has nearly 150,000 members consisting of more than 1,100 employee groups and individuals in five different counties. With $1 billion in assets and 19 member sites, the credit union needed a browser-based system that would increase its volume capacity by simplifying the lending process. “After comprehensive market research, we selected StreamLend Velocity because of its powerful and flexible design,” said Linda Stephens, vice president of lending at Wright-Patt. “The adjustable decisioning factors have the depth of history and the diversity to meet all of our needs. StreamLend Velocity enables Wright-Patt to maximize lending profits and better serve our members.” StreamLend Velocity offers advanced security, auditing and compliance tools that allow lenders to protect borrowers and keep data safe. Its proprietary, configurable workflow engine enables credit unions to customize the system to meet the needs of any lending environment. “StreamLend Velocity’s open architecture can integrate seamlessly with any core processor, providing the credit union with automated decisioning that handles volume and customer service with ease,” said Dave Van Pelt, VP and CTO of IA Systems. “The product decreases operational costs and increases loan processing efficiencies. Wright-Patt can rest assured that StreamLend Velocity will guide them into the next generation of lending as our technology and strategic partnerships continue to advance.”
 

About Open Solutions IA Systems
IA Systems, an Open Solutions business unit, has developed technology to streamline business operations for credit unions, banks, and other financial institutions since 1991. Its flagship product, StreamLend Velocity, is a paperless, Web-based loan origination system that speeds credit and loan decisioning, integrates sales channels, and manages risk for financial institutions. For more information about Open Solutions IA Systems and its products and services, visit www.IASystems.com or call 800.803.7554 ext. 279.
 

About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic information management product platform that integrates core data 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, network 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 or its financial product line, contact Mickey Goldwasser by email at mgoldwasser@opensolutions.com or 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. Copyright 2007. Open Solutions Inc. All rights reserved.