Modern Woodmen Bank Launches uMonitor’s Online Account Solution

Bank deploys uOpen & uFund® to improve efficiencies in branch and online

MEMPHIS, Tenn., July 13, 2009 - uMonitor, the innovative financial solution services provider for banking operational excellence with customer acquisition and retention, announced that Illinois-based Modern Woodmen Bank launched uOpen & uFund®, uMonitor’s online account opening and funding solution with a fully automated switch kit. The bank deployed the solution to enhance customer experience and improve the process to onboard customers while adding services offered to its customers.

"We selected uMonitor's solution because the bank needed a way to improve operational efficiencies while providing our customers with a self service option to open multiple checking and savings accounts," Mark Spersflage, senior vice president of Modern Woodmen Bank, said. "We streamlined the account opening and funding process with uOpen & uFund® for a unified process in the branch and online for cost reductions and productivity improvements. We had a number of unique requirements to improve workflow and uMonitor not only merged them with best industry practices, but ensured that the installation was fast, easy and on time."

uOpen & uFund® streamlines the account opening and funding process for a unified experience online, in call center and in branch and 24/7 access to the bank’s checking, savings, money market and CD products and diverse funding options. Banks can respond to changing market conditions with product and service adjustments in real-time across all channels. The fully automated switch kit - uSwitch®, - provides an easier way for customers to close outside accounts, bring direct deposits and make automatic payments, thus deepening their relationship with the bank.

About uMonitor - Parsam Technologies
uMonitor financial technologies offer a wide range of online solutions specifically designed to help financial institutions provide the most up-to-date services. These highly configurable and customizable solutions enable financial institutions to increase profitability, generate revenue, improve regulatory compliance, and improve employee productivity while reducing costs. uMonitor technologies include New Account Setup and Online Funding with Switch Kit, New Loan Application Processing, Funds Transfer Service, Bill Presentment and Payment Solutions, Premium Account Aggregation Service, Document Management System, Advisor-Client Relationship Management, and other services. The company’s growth and success were recognized by its inclusion on the 2008 Inc. 5000 list.

For more information on uMonitor or its solutions, contact Gillian Smoot at gsmoot@umontitor.com, call 901.757.1212 ext. 7115 or visit the company on the Web at www.umonitor.com


Parsam Technologies , LLC
3197 Players Club Parkway
Memphis, Tennessee 38125

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