|
|
|
Release 3.0 of New Account Setup and Online Funding Application with Switch-Kit |
|
MEMPHIS, TN, June 9, 2005 - Parsam Technologies, the leading uMonitor financial technologies source for credit unions, today announced its latest release 3.0 of the New Account Setup and Online Application with integrated Online Switch Kit. Since its introduction almost two years ago, this service has been highly successful with many credit unions, and the technology platform has evolved to address many different requirements. With this latest release, uMonitor financial solutions solidifies its market leadership as ten (10) additional credit unions will be going live with this enhanced platform in the next few weeks to begin delighting their members and growing their membership. |
|
With the changing landscape in retail banking services, not only credit unions but banks and other financial institutions are looking at ways to grow their customer base and become the Primary Financial Institution for their members. While mega banks like ING Direct have invested millions in their online channel and CRM solutions, with the uMonitor 3rd generation platform and the success of the ASP (Application Service Provider) based model as successfully deployed by companies like Salesforce.com and others, now even the smallest of the financial institutions is able to offer better solutions that are fast, simple, and inexpensive. The industry leader in new account setup and online funding has taken a giant step forward with this latest 3.0 Release today. Some of the key advances included in this release include: a) the ability to handle not only deposit accounts, but also credit or loan accounts; b) the ability to offer the entire range of products to customer in every channel; c) the ability to handle complex eligibility requirements; d) enhanced ability to cross-sell and up-sell in real-time with proper risk management; e) unified service for online, branch, and call center f) the ability to integrate check ordering, card ordering, and bill payment setup; g) integrated online funding from bank accounts or credit cards; and h) an integrated online switch kit to transfer direct deposits and automatic payment services as well as close external accounts. With the 3.0 release, backend integration is simplified to include all major credit bureaus, ID verifications systems, loan processing systems, decision analytics and many host processors. With a new simplified user interface, the user is now able to establish a new relationship or expand an existing relationship anytime, anywhere. With the new service not only order fulfillment is revolutionized with productivity gain and reduction in errors, but customer retention is improved and a financial institution improves its rating as the primary financial institution. Not too long ago, credit union industry research leader Callahan & Associates published an article followed by an extremely popular Webinar concerning Switch Kit. With Release 3.0, the uMonitor financial platform has brought those ideas to reality. The New Account Setup and Online Funding application simplifies the account opening process and leads the member to switch other relationships. It offers prospective members a secure, convenient method of instantly opening and funding an account seamlessly online and in the branch. By extending the branch functionality to online channels, uMonitor gives credit unions an increased ability to attract new members. The online switch kit enhances the process by which a member can consolidate all of his financial relationships in one place. The member can transfer any direct deposits and automatic payments over to the new account. Additionally, the member can close old accounts, ultimately making your establishment the primary financial institution of choice. Dinesh Sheth, CEO of Parsam Technologies, states, "We are excited to be offering a new release of our well established service that creates greater benefits for our customers by making them more competitive in the market place. We are humbled by their trust in our service, and we remain committed to make them successful." |
|
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. |
|
Parsam Technologies , LLC Third party trademarks, trade names, product names, and logos are the property of their respective owners |
