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The Golden 1 Credit Union Selects uMonitor Funds Transfer Service |
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MEMPHIS, TN, August 5, 2005 - Parsam Technologies, the pioneer and leading provider of uMonitor financial technologies for credit unions and banks, announced today the selection of its state of the art Account-to-Account (A2A) Funds Transfer Service (FTS) solution by The Golden 1 Credit Union, California's largest financial cooperative, and the fourth largest credit union in the U.S. with more than $5.6 billion in assets and over 600,000 members. As a full-service credit union, The Golden 1 offers all the consumer financial products and latest delivery innovations one would expect from a large financial institution. In selecting uMonitor Funds Transfer Service, Golden 1 has acted on its desire to provide the most innovative solutions for its members. The uMonitor Funds Transfer Service allows credit union members to expediently and securely transfer money to or from bank accounts across the country without going to a branch. Lisa Swanson, Vice President of E-Commerce for The Golden 1 stated, "We value quality of service and innovative spirit in our technology partners, and uMonitor is a great fit." |
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The FTS will be available with single-sign-on service from the Golden 1 Internet banking platform powered by Corillian Corporation (NASDAQ: CORI), extending the ease of use and around the clock convenience offered by the A2A solution. The service offers the capability to perform a transaction on demand, schedule a transaction for a future date, or schedule recurring transactions. With the ability to monitor every transaction, members have not only a new service to quickly transfer money but also the ability to keep track of all transactions online. With the growing threat of identity theft and fraud, financial institutions are always looking for ways to protect their consumers. uMonitor's latest release of its Funds Transfer Service offers added anti-fraud protection to users of this service. Users can keep a close eye on their online funds transfer activity by monitoring each transaction. The system notifies the user of any activity on their account, including service registration, account registration, account activation, and on-demand or scheduled transactions. In the event that the account owner did not initiate any of the activities, he can immediately contact his financial institution to report the unauthorized transaction and take action to prevent fraud. With uMonitor FTS, financial institutions can offer consumers greater control of their online financial lives. "We are honored that The Golden 1 Credit Union has selected the uMonitor Funds Transfer Service, and we are delighted to have the opportunity to serve their members with this state of the art solution. We look forward to a successful partnership," said Dinesh Sheth, CEO of Parsam Technologies. uMonitor is recognized in the financial services industry for delivering highly dependable services to meet credit union and bank requirements - the best technology, exceptional customer service, and fast system implementation - at a very affordable price |
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About uMonitor – Parsam Technologies For more information, please visit www.umonitor.com or contact Gillian Smoot at gsmoot@umontitor.com or by phone at 901.757.1212, ext.7115. |
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