By Ted Nesi
PBN Staff Writer
PROVIDENCE – Andera, a Rhode Island-based online financial services support company, will partner with Open Solutions Inc., a financial-data processing firm, to offer the latter company’s clients an integrated online account opening and funding system.
With consumers growing more reliant on the Internet for their banking, financial institutions are looking to provide the ability to instantly open and fund new accounts electronically. Analysts at Celent forecast a dramatic acceleration in the pace of industry adoption over the next three years.
Andera’s system allows consumers to apply for, be approved for, open and fund multiple bank accounts in one session, according to the company. It allows for electronic signatures, real-time core integration, and is compatible with a number of third-party risk and data providers. More than 200 financial institutions now use the Andera platform, including eight clients that also work with Open Solutions.
“Partnering with Open Solutions is a natural extension of our work with existing mutual clients, and we are very excited about the significant potential now that we’ve formalized our relationship,” Andera CEO Charlie Kroll, who was recently selected as one of PBN’s 40 Under Forty, said in a statement.
Andera Inc., a financial-technology startup based in Providence, offers automated online account opening and other products and services for retail financial institutions. Additional information is available at www.andera.com.
