Golden, BC-based Columbia Valley Credit Union has completed implementation of Open Solutions Canada's newest POSH switch for financial institutions.
Columbia Valley becomes the first of Open Solutions' Canadian financial institution clients to use the payment services feature to connect its ATMs to the new switch.
The latest version of the POSH switch provides full-function ATM support, enhancing Open Solutions' existing POSH application to include both issuer and acquirer services while streamlining the provision of operational support for switching by centralizing payment services in the Oakville, ON office.
Established in 1955 and located between the Rocky Mountains and the Purcell Mountain range, Columbia Valley Credit Union serves more than 5,000 members and has more than CDN $100 million in assets. With a single branch and three ATMs, channel-access technology is a cornerstone in Columbia Valley's strategic plans to provide quality financial and related services to its members and to the summer residents who often double the local population.
"We were very pleased with the ease of the implementation," said Paul Pupo, general manager of Columbia Valley Credit Union. "One of the ways we make a difference in our community is through the wide array of delivery channels we offer our members. Careful planning by Open Solutions and our team meant that our members experienced no downtime and no major issues impacted our staff."
"Throughout our longstanding relationship that extends more than 20 years, Columbia Valley has consistently been an industry innovator and early adopter of new technologies such as ATM attraction screens," said Blair Goulet, president of Open Solutions Canada. "We're proud that Columbia Valley's trust in our implementation process has been repaid by a smooth implementation. We believe that with this latest version of our platform we are well-positioned to help our clients like Columbia Valley meet the demand for new optional functions and services such as IP and wireless connectivity and point-of-sale (POS) acquiring."
Transaction switching services are operating on the POSH suite of switching products at the POSHnet operations center in Oakville. Driving a combined total of more than 21,000 ATM and POS devices, POSHnet runs Canada's largest ATM network and one of that country's largest off-premises POS networks.
At the core of the POSH suite, the POSH switch provides full-function transaction services to major financial institutions worldwide, with recent clients including financial institutions in the Caribbean, Middle East and Far East.
Based on a Windows platform, POSH is a scalable, high-integrity system that drives all ATM models and supports most POS devices. Complementing the POSH transaction processing system is the ConCentre application monitoring system featuring behavioral pattern detection and the POSHweb Web-based information service, which provides information such as cash position, alert history and recent transactions.
About Open Solutions Inc.
Open Solutions Inc. offers a fully featured strategic 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 tools, imaging, Check 21, interactive voice response, network services, and Web hosting and design services, and loan and payment origination solutions. Open Solutions' full suite of products and services allows banks, thrifts and credit unions in the United States and Canada to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
