Fiserv Pockets Once Feisty Foe in Open Solutions: Print Preview
- Open Solutions’ debt burden leads to eventual sale.
- DNA platform to replace Acumen.
- Fiserv CEO says other platforms remain supported.
While Fiserv Inc.’s purchase of Open Solutions Inc. marked the end of an era, it also sparked conversation about how the financial services technology giant will handle the addition of another handful of core account processing platforms to its portfolio.
Another credit union consultant had a similar view. “I know they were having some troubles with Acumen, and now it sounds like they’re going forward with a new technology platform,” said Randall Pearson of Pearrari Solutions Inc., a Tucson, Ariz., consultancy.
Pearson, who noted that his consultancy focuses on lending and e-banking technologies for community financial institutions rather than core platforms, also is board chairman for the $116 million, 14,100-member Pyramid FCU in Tucson.