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New Releases of uMonitor Suite of Applications Offer Additional Convenience and Functionality for Bank and Credit Union Customer |
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MEMPHIS, Tenn. - February 23, 2007 - Parsam Technologies, the pioneering provider of uMonitor financial technologies for banks and credit unions, announced today the latest Release 4.0 of its suite of products which includes Release 4.0 of Account Open and Fund service - uOpen™ and uFund™, Release 4.0 of Funds Transfer service - uTransfer™, Release 4.0 of premium Account Aggregation service - uView™ and Release 4.0 of uMonitor Analyzer for system administration - uAnalyze™. The company also introduced its latest service uVerify™ to assist financial institutions in their compliance with "know-your-customer" and customer identification programs for Patriot Act compliance for the entire customer base with periodical checks and automatic updates in internal systems. |
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uMonitor continuously strives to provide the latest, most reliable, and best of class services that benefit credit unions, banks, and financial professionals. In 2006 uMonitor solutions, which is deployed with 23 of the top 100 credit unions, was expanded to serve banks of all sizes. This market expansion has resulted in many successes for our customers. With FFIEC guidelines on multifactor authentication, changing market conditions, and the need for added protection, we have expanded our services, added required functions, and completed many requested enhancements. uMonitor continues to lead the market with Release 4.0 of uOpen™ and uFund™. There is unprecedented flexibility with this technology platform to design optimum workflow for the financial institution. Learning from our customers and using best practices for usability, an enhanced user experience is created. The integrated switch-kit in this upgrade ensures that the financial institution will become the primary financial institution for their customers. This latest Release 4.0 expands capabilities in branches and call centers enabling financial institutions to take advantage of better cross-sell and up-sell opportunities and promotion management. The uMonitor solution is now integrated with most core processors as well as all credit bureaus and all prominent ID verification and ID authentication services, loan decision systems, check ordering services, e-statement and document archival services, and card ordering and processing services With the 4.0 release of uTransfer™, we have added new levels of security. The Level I security functionality including single-sign-on from any Internet banking platform now also encompasses email notifications that are sent to the owner of the account for any account and funds transfer related activities. With the Level II security, uTransfer™ becomes one of the first services in the industry to offer transaction level risk appropriate multifactor authentication. In addition, the behind-the-scene monitoring is expanded to take advantage of adoptive security derived from usage pattern recognition integrated with fraud history and crime patterns. With uTransfer™ credit unions and banks get a complete service makeover with a user interface facelift and a service window extension that offers an additional eight hours each day with next day delivery. Similarly uView™ takes financial institutions and their consumers to a whole new dimension of user experience and convenience. In the new world of multifactor authentication, users now have a more difficult time than ever remembering all of their authentication credentials to get to their needed information. uView™ makes it easy for them by providing a single, smart vault for all their credentials which removes the hassle of multifactor authentication without compromising their security and brings them what they need faster than ever. uAnalyze™, the management dashboard for all uMonitor services, is also now protected with multifactor authentication. For this most powerful analytics and service tool with access to critical data and reports, uMonitor offers the choice of authentication including but not limited to physical tokens with one-time, real-time pass codes to become the most secure institution. Combined with expanded analytics and reporting capabilities, financial institutions will be able to improve their return on investment in this platform while delighting their customers. Furthermore, the financial institution's staff will be pleased to have added control to monitor transactions in real time and also have flexibility to serve their valuable customers. Dinesh Sheth, CEO of Parsam Technologies, stated, "For uMonitor solutions, 2006 was a year of tremendous significance. Not only did we partner with the most respected financial technology providers such as Corillian, Cuna Mutual, Experian and others, to bring uMonitor solutions to their valued customers, but we also demonstrated our ability to meet the most demanding requirements of financial institutions of every size, and we did that with our profitable growth of over seventy five percent. Now as we focus on 2007, these new product releases will allow us to continue to focus on our mission to delight our customers and users." |
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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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Parsam Technologies , LLC Third party trademarks, trade names, product names, and logos are the property of their respective owners |
