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<p>GLASTONBURY, Conn. – Open Solutions Inc. has acquired a set of management software tools from HNC Software that it plans to market to community financial institutions, including credit unions, which want to have more to offer to business clients. OSI will market and manage the suite of general ledger, accounts payable, fixed assets, investments and asset liability products through a new business unit called OSI Financial Technologies. The package of solutions was the work of Financial Technology Inc. until that firm, a player in the asset and general liability software field against the likes of IPS Sendero, was acquired in 1998 by HNC Software of San Diego, an OSI equity partner who has now sold them to OSI. Terms were not disclosed. OSI has about 1,500 financial institution clients (including a dozen credit unions) using its range of core data processing, Internet-based financial solutions, imaging and other delivery systems, and this move will help it better serve clients who themselves are interested in serving the more complex needs of small businesses, says Mickey Goldwasser, OSI’s director of marketing. “In the past we had to partner for these products, but more and more, credit unions are telling us they want one-stop shopping,” he says. “This enhances our offering to them, and will help them better serve their members.” The suite of analytical products is geared toward helping small financial institutions manage and analyze their activities. Customers can buy all or any part of the solutions they need and easily implement them because of the open-system nature of OSI’s Oracle-based core relational database technology, Goldwasser says. OSI also will be the exclusive marketer and support provider for HNC’s Profit Vision analytical software. HNC itself has become a major provider of fraud detection services to credit card vendors worldwide, using neural network predictive techniques.</p>

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