Open Solutions, a trailblazer in providing technology solutions for community banks and credit unions in the U.S., embarked on a transformative journey. Amidst the financial market turmoil, the company made a bold move by heavily investing in new product development. This led to the creation of a unique open-source platform, granting customers unprecedented control over future product enhancements. However, to truly harness the potential of this revamped offering, a strategic rebranding was imperative.
The core essence of the challenge was encapsulated in the simple truth: "No trust, no business." Replacing a core system is a monumental task for any financial institution. Open Solutions was not merely offering a product; it was inviting customers and prospects to place their present and future business success in its hands. In an era marked by economic instability and uncertainty, the stakes were high. The absence of deep-rooted trust would mean missed opportunities and deals left on the table.
At the heart of Open Solutions' client base and prospects lies the community. It's not just a group; it's their very reason for existence. The community is the driving force behind their success, shaping their actions and serving as the fountainhead of their power and prosperity.
Building on this insight, the new positioning was crafted: "There's Power in Community." This was not just a tagline; it was a promise. It conveyed a shared interest and belief, positioning Open Solutions as the ideal partner with a solution that was not only created but continuously refined by its user community.
The rebranding was not just a change in visuals or messaging; it was a transformation in perception. The new branding resonated deeply, not just externally with customers, but internally with Open Solutions' employees. It played a pivotal role in sealing significant deals and was a key factor in the successful acquisition of Open Solutions by global competitor, FiServ. The rebrand was also recognized as best-in-class by Rebrand.
Rebranding is not just about a new logo or tagline; it's about capturing the essence of a brand and aligning it with its core audience. Open Solutions' rebranding journey is a testament to the power of understanding one's community and leveraging it to build trust, foster relationships, and drive business success.
