Open Solutions, a leading innovator of open, relationship-centered core banking platforms for financial service providers across the United States, Canada and other international markets, announces the launch of two pioneering solutions that will fundamentally change the way technology is developed for community-based financial institutions: DNAappstore, the first online marketplace to advance global collaboration and innovation for the financial services industry, and DNAcreator, a powerful suite of tools for creating applications.
In tandem, these solutions will provide an enviable competitive advantage to financial institutions using Open Solutions' DNATM core technology.
Open Solutions, its partners, clients and independent developers can leverage DNAcreator to build and share custom applications (DNAapps) that exponentially broaden a client's core banking capabilities. DNAapps can then be made available on the DNAappstore allowing the industry's best ideas and solutions to come together in a single collaborative global marketplace.
Open Solutions officially launched DNAappstore and DNAcreator to the financial services industry today in front of more than 1,200 attendees at the 2011 Open Solutions Client Conference in Washington, DC.
Unprecedented in the financial services industry, DNAcreator puts the exact same tools that Open Solutions uses to develop applications into the hands of clients and their partners, to build applications that extend the functionality of the industry-leading DNA enterprise banking system. Meanwhile, the DNAappstore achieves another industry milestone by creating the only online marketplace where developers are free to share their applications, and interact directly with other developers and users to accelerate collaboration, knowledge sharing and technology exchange.
"These are ground-breaking innovations that will empower banks, credit unions, our partners and the developer community to share ideas around the world. This is such a pivotal time for the financial services industry - community banks and credit unions need a competitive advantage. DNAcreator gives our client community the tools to create flexible solutions that will help them better compete in their markets, but it's really the sharing of these solutions on the DNAappstore that will create the much needed disruptive change," stated Louis Hernandez, Jr., chairman and CEO of Open Solutions. "This type of global collaboration will advance enterprise technology to a level never before seen in this industry, and it's based on a common vision that the best ideas for supporting the success and competitiveness of community-based financial institutions should be shared."
Increasing demands from regulators, consumers and small businesses are forcing financial institutions to continually adapt to succeed. There is no "one-size-fits-all" when it comes to what solutions will work best for banks and credits unions. Open Solutions is leading the charge with these new innovations that are unmatched from enterprise technology providers.
"DNAappstore and DNAcreator will spark the innovative spirit that is alive in Open Solutions and our clients and partners. This revolutionary new idea will provide financial institutions with the tools to develop solutions tailored to their unique needs and take advantage of an unlimited opportunity for new solutions through a global marketplace," stated David Mitchell, chief marketing officer. "This is more than a new technology solution; this form of collaboration is absolutely vital to helping community based financial institutions stay flexible and competitive in a rapidly changing environment. When Open Solutions' partners, clients and independent developers are all motivated to create unique solutions to business problems, barriers to traditional technology development are broken down and everyone benefits."
DNAappstore makes the sharing of ideas and innovation simple, helping institutions to collaborate quickly and inexpensively, while vastly increasing the number and variety of solutions that are available for DNA. The DNAappstore is easy to use and can be accessed by anyone for browsing available DNAapps, reviewing product features and capabilities, learning more about the developers and reading comments from other users. DNA clients can also try DNAapps for free by downloading them into a test environment prior to final purchase through the "Try Before You Buy" program.
"Open Solutions has worked with top technology architects to bring the DNAappstore to fruition," stated Erik Nilsen, product manager for DNAappstore. "Additionally, the support of the Open Solutions Client Association and many like-minded beta clients helped make this vision a reality. We are very excited to team up with our client community to extend the DNA core system in limitless new ways."