GLASTONBURY, Conn. -- Open Solutions Inc. has announced its first major move into Mexico.
The company said $1.5 billion IXE Banco in Mexico City will use the company's core processing solution to help the institution create a new bank to reach the country's underbanked mid-to-low retail markets.
The new bank will offer a broad range of services with a focus on consumer and commercial loans for medium and small businesses.
IXE Banco joins Open Solutions' growing list of international clients in such far-flung locations as Vietnam and Barbados. The company also has aggressively pursued a Canadian presence.
In addition to The Complete Banking Solution relational database core banking platform, IXE Banco will be implementing Open Solutions' cView CRM/business intelligence solution, its StreamLend Velocity loan-origination system and the Interaction Management Center for centralized relationship management, the company said.