OSI Enters Item Processing Arena Through imagic Subsidiary

GLASTONBURY, Conn. – Open Solutions Inc. is getting into the item processing business, announcing the opening of two centers in the Northeast. The centers – in Simsbury, Conn., and Utica, N.Y. – are being operated by Open Solutions Imaging Systems Inc. (imagic) and offer full in-clearing and point-of-delivery capture, balance and posting, imaged and e-mail statements and Web-based check image delivery. “The recent consolidation of item processing centers in the Northeast has left community financial institutions with limited choices. . It became apparent that there was a strong demand for a viable and more-economical alternative,” said Kevin Fahey, senior vice president and group manager for imagic. Mike Nicastro, senior vice president of OSI’s Delivery Systems Group, added, “We recognized a growing need for alternative item processing solutions for community-based financial institutions and made an investment in technology, equipment and personnel with the opening of our IP centers. Our relationship with the Federal Reserve allows us to provide comprehensive check processing services at economical prices.”