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Open Solutions Launches Veri-Fast

To improve service by automating the retrieval of accountholder files and eliminating teller keystrokes

Open Solutions, a provider of integrated enabling technologies for financial services, has launched Veri-Fast, a solution designed to identify accountholders at the teller station. Reportedly, Veri-Fast solution uses two-factor authentication to identify the accountholder at the teller line.

The member/customer swipes their ATM/debit card, enters their PIN number and once verified, the software instantly retrieves the relationship profile. In addition to reducing fraud, Veri-Fast is reported to improve service and efficiencies by automating the retrieval of accountholder files and eliminating teller keystrokes.

Louis Hernandez, chairman and CEO, Open Solutions, said: “We are always looking for products and services that will help our clients succeed, especially now in these turbulent economic times. Open Solutions remains committed to developing and deploying innovative software solutions that address the common pain points financial institutions are facing. While other providers are putting the brakes on research and development, Open Solutions realizes that now more than ever our clients need solutions that address operational challenges, limit losses from fraud and result in increased revenue.”

Open Solutions offers 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, wealth management, network services, HSAs, payments and loan origination solutions.