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Northeast Credit Union Partners with uMonitor for New Account and Funds Transfer Services |
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Memphis, Tennessee, November 10, 2005 - Parsam Technologies, the leading provider of uMonitor financial technologies for credit unions and banks, announced today that it has been selected by Northeast Credit Union (NECU), a New Hampshire based credit union, to implement its technologically advanced New Account and Online Funding with Switch Kit solution and Account-to-Account (A2A) Funds Transfer Service (FTS). These solutions give NECU the ability to improve operational efficiencies and serve their members better. |
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"In keeping with NECU’s mission to provide safe, high quality financial services to their members, we selected uMonitor financial services platform because they have demonstrated their flexibility and superior technology to meet standards established by NECU for our member services," stated Peter Kavalauskas, CEO of Northeast Credit Union. "There is a good reason why uMonitor has a sterling reputation with credit unions." The uMonitor New Account and Online Funding with Switch Kit solution will allow new and existing members to apply for accounts online through NECU’s website. This service will handle not only deposit accounts, but also credit and loan accounts. Real-time eligibility and ID verification checks will be processed based on NECU’s approval criteria. The service will interface seamlessly with ChexSystemsSM from eFunds Corporation (NYSE: EFD) for ID verification, with Experian for credit checks, with APPRO for loan decisioning, and with ACH and credit card networks for online funding. The service will interface through Symconnect core system from Symitar™, a subsidiary of Jack Henry Associates Inc (Nasdaq: JKHY), to streamline the whole process. uMonitor will also integrate the online switch kit to enable NECU’s members to transfer direct deposits and automatic payments from other financial institutions to NECU. This process will also enable NECU’s members to close any external accounts, which will ultimately make NECU their primary institution of choice. "With Account-to-Account Funds Transfer Service, all NECU members will be able to seamlessly transfer money from any financial institutions in the United States. Progressive credit unions such as NECU are on the forefront of offering services that delight their members. We are pleased to bring our solutions to NECU and help them achieve their service goals while improving operational efficiency at a very reasonable price," said Dinesh Sheth, CEO of Parsam Technologies. He continued, "We are excited to see NECU and others take advantage of our new services for credit union members." 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 prompt system implementation - at a very affordable price.
About eCU Technologies |
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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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