Open Solutions Adds Collections Support

Open Solutions Inc., a provider of integrated technologies for community financial institutions, has created an asset collection management system for processing and recovering nonperforming loans.

The software also can be used to manage collection of negative balance deposit accounts, over limit lines of credit and legal status accounts.

Open Solutions chairman and CEO Louis Hernandez said the collection management technology responds to a need expressed by the company's clients. The technology is integrated with OSI's core data processing platforms as an add- on module to the software.

It includes the most current account status and full transaction history, the company said. Collection queues can be created manually or through the system's auto production feature.

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