Open Solutions Partners with uMonitor to Offer Online Account Opening and Funding Services to Financial Institutions

GLASTONBURY, Conn. and MEMPHIS, Tenn., March 25, 2008 - pen Solutions, an industry leading innovator and provider of integrated, enterprise-wide data processing technologies for banks and credit unions throughout the United States, Canada and other international markets, and uMonitor, the innovative financial solution services provider for banking customer acquisition and retention, today announced a partnership to integrate their services to facilitate online account opening and offer enhanced online banking services for both banks and credit unions.

Open Solutions' clients can easily deploy uMonitor's uOpen & uFund&trade, the online account opening and funding solution, and uTransfer&trade, the account-to-account money transfer solution, with their core processing platform, online banking service or loan decisioning system. By adding uMonitor's account opening and funding with switch kit service and account-to-account money transfer service, financial institutions will have a powerful end-to-end online delivery solution for on-boarding new retail and commercial clients and retaining them with deeper relationships.

"As the provider of the most comprehensive online banking, check imaging and loan origination applications and core platform designed for financial institutions, we continue to look for technology that will offer our clients the highest level of operational success," said Mike Nicastro, SVP and CMO of Open Solutions. "We understand that our clients place a high level of trust in us, and we exercise great discretion in recommending third-party solutions. After extensive due diligence and seeing the success our common clients have experienced with uMonitor solutions, we truly believe they are one of our best-of-breed offerings for our clients."

Open Solutions and uMonitor are recognized in the industry for their superior product quality and dedication to client service. Today, there are already more than 10 clients using offerings from both organizations. Working together with complementary technologies, the companies will accelerate the adoption of these new services for the benefit of their clients.

"We are delighted with this vote of confidence by the Open Solutions team through its endorsement of our account opening and funding service for its clients," said Dinesh Sheth, CEO of uMonitor. "This partnership creates unique opportunities for both companies to address the growing demands from financial institutions to expand online services. uMonitor has integrated its solutions with Open Solutions for almost four years, and we believe the timing is right for rapid deployment of our combined offerings."

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.

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
3197 Players Club Parkway
Memphis, Tennessee 38125

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