Broad spectrum of customer base sees value from service offering

BILLERICA, Mass., Nov. 12 /PRNewswire/ -- Orbograph Ltd., a leading developer of recognition solutions for the U.S. check processing market, announced today that Open Solutions Inc.® has signed five contracts for the Automation 08 recognition service, including Old Fort Banking Company in Old Fort, OH; Farmers Bank of Victor, MT; WesBanco Bank, Inc. in Wheeling, WV; First Keystone National Bank in Berwick, PA; and Yukon National Bank of Yukon, OK.

Using the Automation 08 software as a service business model will enable Open Solutions' financial institution clients to approach straight-through-processing (STP) levels of efficiency. By targeting the industry's leading automation levels of 98% with 99% accuracy, Automation 08 nearly eliminates data entry in check processing, streamlines balancing, and incrementally reduces costs in proportion to check volume declines. Image quality usability assurance (IQUA) is also available under this model.

The five financial institutions were using Orbograph Super Trinity or Accura software and chose to contract with the Automation 08 service for several reasons, including: no upfront costs; lower cost of ownership targeting a reduction in keying and balancing costs of 40%; eliminates depreciation expense from balance sheet and converts costs to a variable operating expense.

"We're excited by this opportunity to engage with Orbograph since we've just named them an Open Solutions commercialized partner, an exclusive alliance endorsement," said David Mitchell, senior vice president and chief marketing officer of Open Solutions. "And providing Automation 08 as an option for our check processing clients gives them an attractive option to lock in low unit costs. There's been a lot of interest in this area among our clients, as pressures to reduce costs and streamline operations are critical tasks for 2009 and 2010."

"This strong showing by Automation 08 illustrates the value proposition behind the solution," stated Andy Leonhardt, vice president of sales for Orbograph. "Leveraging a SaaS business model helps overcome many of the typical objections when a major investment is required for operational improvements."

About Open Solutions

Open Solutions Inc. offers a fully-featured strategic information management 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 and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, network services, HSAs, payments and loan origination solutions.

About Orbograph

Orbograph (www.orbograph.com) is a leading developer of recognition solutions for the U.S. check processing and business process outsourcing markets. Orbograph's technologies are in use at hundreds of financial institutions and service bureaus across North America, processing millions of documents each day. Through its automation and recognition solutions, fraud detection, business process outsourcing technologies and image quality assurance applications, Orbograph enables customers to reduce costs, improve operational efficiencies and achieve rapid ROI.

NOTE: Actual performance may vary according to hardware used, configuration or other factors within your processing environment. Statistics cited in this release do not constitute guarantees of performance. For more information, visit us online at www.orbograph.com.

SOURCE Orbograph Ltd.

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