The agreement will enable Open Solutions to further market its sophisticated suite of enterprise technology solutions to European, Middle Eastern and African (EMEA) financial institutions.

Under the current terms of the agreement, all Open Solutions products and services, including The Complete Banking Solution: DNA/The Complete Credit Union Solution: DNA, relationship core processing system, will be delivered through the HP direct sales and reseller network across Europe. As a reseller, HP will have the ability to provide Open Solutions' products and sublicense Open Solutions' relational enterprise data processing solutions and integrated ancillary products. HP will be responsible for implementing, customizing, localizing and supporting the products covered by this agreement. Both companies have created sales and marketing teams as well as co-marketing programs to better reach and support customers around the world.

Vice President, Financial Services Industry for EMEA HP, Nicola Aliperti, said, "As the leading core banking provider in the European market, we are pleased to partner with Open Solutions, the leading innovator of and proven provider of core technology in North America. This joint agreement will give small to mid-size financial institutions an advantage in the market. Even with a limited budget, these institutions will now have access to a sophisticated, open database core banking system."

Open Solutions continues to expand its international presence through strategic reseller and marketing agreements. Just last month, the company announced a partnership with Senior Solution, a leading Brazilian software and services provider with a retail banking client base within the Latin American financial services marketplace. Open Solutions has also formed several other strategic international partnerships, including: Thailand Equipment Research Co. Ltd. (TER); Asian-based Solution Corner (SLC); Canadian-based Celero; Asian-based CSII; Asian-based Thien Nam Information Technology; India-based R Systems Inc., and Mexico-based Hildebrando.

Open Solutions Senior Vice President of International Operations Wayne Ginn, said, "We consider HP a leader within the industry and are pleased to partner with such a respected company with a proven presence in Europe. HP has extensive reach in the global market and strong implementation expertise. We've experienced tremendous growth globally and look forward to bringing our world-class technology solutions to the EMEA region."

With growing competition among international financial institutions, there is an increased demand for technology platforms that contribute to and accommodate growth, as well as enable these organizations to offer more personalized products and services. Open Solutions' relational database technology suite was designed to be an open architecture application, providing both domestic and international financial service providers the advanced functionality and technology needed to run an agile, person-focused institution.

Open Solutions Chairman and CEO Louis Hernandez, Jr., said, "This strategic alliance with HP further complements Open Solutions effort to establish itself as a global leader in the financial services marketplace. HP's vision and proven expertise will play an integral role in our expansion into the European market. In the current global economy, institutions are realizing the need to move beyond traditional legacy systems to more open, sophisticated platforms. We look forward to working with HP to introduce Open Solutions' relational core data processing platform and integrated product suite to the EMEA market."