Taking E-Commerce To The Next Level

Open Solutions, a provider e-commerce solutions for community banks and credit unions, has launched Level II of its Open Community Network eCommerce model, a set of software and services designed to allow "commerce and community" around the banking transaction. This service offers financial institutions a private-label network for business-to-customer e-commerce, Web-based financial management, cobranding with nationally recognized partners and suppliers, business-to-business e-commerce, business procurement, community news and information and Internet shopping, says the Glastonbury, Conn.-based firm. Level II offers new features such as a consolidated shopping cart, for shopping with multiple suppliers using a single sign-on and checkout process; one-time registration; multiple payment options, whereby consumers can use different payment methods per supplier, including credit and debit card and direct debit; shipping flexibility, whereby consumers can specify different shipping addresses per supplier; usage tracking and documentation; and spending control options, whereby financial institutions' commercial customers can set purchase limits for employees who use the network. It also allows financial institutions to customize the look of the site, control the links on the community page and sign up local merchants to participate in the network. OCN "marries" two concepts, e-commerce and Internet banking. It incorporates three components: e-Commerce Mart, which integrates partners, suppliers and community resources online; e-Commerce Banker, for Internet banking; and The Complete Banking Solution or The Complete Credit Union Solution, for core processing, all of which can be licensed and implemented separately. Open Solutions says it has signed partnerships with "numerous" nationally recognized vendors to offer shoppers discounts on purchases made from an OCN Web site.