Reduce liability for losses on commercial accounts by adhering to four requirements.
Open Solutions DNAapps and DNAappstore
Open Solutions has redefined innovation for enterprise banking technology with the introduction of DNAapps for the DNAappstore. Many community banks still operate legacy core banking systems developed decades ago for a different era of banking. These proprietary legacy systems are difficult to customize or enhance with new functionality, forcing banks to bolt-on an array of third-party systems to meet the needs of consumers and businesses today. Community banks need more flexibility and tailored solutions to manage the escalating regulatory complexities and increased customer demands for digital access in today’s market.
Open Solutions has shattered the legacy way of thinking with the introduction of DNAapps. By empowering clients, partners and independent developers to create and share their own fully integrated, custom core extensions for the revolutionary DNA core banking platform, all clients benefit from each other’s’ innovations within a globally connected collaborative network.
Since July 1, 2011, Open Solutions, clients, partners and independent developers have introduced 96 DNAapps on the DNAappstore. Each DNAapp enhances existing functionality or creates new features.
- A multi-account origination app was created to reduce the time needed to open multiple customer accounts from 30 minutes to under three minutes.
- A DNAapp was created to provide teller override approvals remotely from an iPad or other mobile device.
- Over 40 DNAapps have been created by financial institutions to improve operational efficiency – one in particular has reduced overdraft resolution time by 75 percent.
What’s most remarkable about DNAapps is their ability to grow exponentially as more client-developers introduce new solutions to common business problems. Keeping up with the rapid change in technology, regulatory complexities and new non-traditional competitors requires radically different thinking. That’s why Open Solutions has taken an innovative approach to provide community banks with the tools to be flexible and adapt to changing market demands by collaborating and sharing ideas with a global network of peers.
Open Solutions Inc.