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Purdue Employees Federal Credit Union Expands Online Services with uMonitor Technologies |
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MEMPHIS, TN, August 18, 2005 - Purdue Employees Federal Credit Union, an Indiana based credit union founded in 1969 by the Purdue University which today serves over 56,000 members, has selected Parsam Technologies, the leading provider of uMonitor financial technologies for credit unions and banks, to implement its New Account and Online Funding Application and Account-to-Account (A2A) Funds Transfer Service (FTS). PEFCU has also recently replaced an existing account aggregation solution with the most advanced offering from uMonitor. These innovative solutions give PEFCU the ability to serve their members better and at the same time improve operational efficiencies and deliver advanced capabilities. |
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"Our members rely on us for all their financial needs. At PEFCU, we are glad to have selected uMonitor to deliver unsurpassed online experiences with new services to our members," stated Bill Connors, CEO of PEFCU. "Our members are all over the country and bringing all the branch-level services to them online makes us more accessible to them. uMonitor is right for what our members need." The uMonitor New Account and Online Funding solution enables prospective and existing PEFCU members to securely apply for new accounts online. The real-time application completes eligibility checks based on PEFCU's eligibility criteria as well as interfaces seamlessly with ChexSystems&trade from eFunds Corporation (NYSE: EFD) for ID verification and compliance with OFAC and Patriot Act rules; with Qualifile® from Penley, an eFunds subsidiary, for credit checks for risk-management and cross-selling decisions; and with Summit Information Systems&trade, from FiServ (NASDAQ: FISV), to setup accounts in the host system. This process also includes online funding capability as well as the ability to self-enroll with PEFCU's internet banking services. The uMonitor Account-to-Account Funds Transfer Service allows PEFCU to offer an online money management tool to their members to safely transfer money to or from any deposit account with any financial institution. With A2A FTS, members have the ability to schedule on-demand transfers, recurring transfers, and future transfers. Members are also able to monitor and track all of their transactions online. A2A FTS is available as a standalone service as well as an integrated offering with uMonitor Account Aggregation service, an enhanced solution available to PEFCU's members. The account aggregation service gives PEFCU's members a consolidated view of their personal accounts. With one simple login, using a single user name and password, members have the ability to view all their financial accounts as well as information such as weather, news, flight status, and much more. All of these real-time solutions are available through PEFCU's website at https://ssl.purdueefcu.com Dinesh Sheth, CEO of Parsam, stated, "With PEFCU, we see a partner that is technologically sophisticated in taking advantage of various uMonitor solutions. They are bringing benefits to their members that most credit unions may only dream of offering someday. We are excited to be working with PEFCU to make these dreams a reality." 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. |
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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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