Alabama Credit Union League and uMonitor Partner to Offer Extended Services to Members

Memphis, Tennessee, January 19, 2006 - The Alabama Credit Union League (ACUL), a full service financial trade association that represents 176 credit unions and their 1.4 million members in Alabama, has partnered with Parsam Technologies, the leading provider of uMonitor financial technologies, to provide credit unions with the industry-leading New Account Application and Online Funding with Switch Kit solution, Account-to-Account (A2A) Funds Transfer Service (FTS), and Account Aggregation for their members. These innovative solutions give credit unions the ability to serve their members better and improve operational efficiencies and cross sells.

"We always strive to provide leadership and services to enable credit unions to meet their potential as unique financial institutions," said Gary B. Wolter, CEO of Alabama Credit Union League. "ACUL’s commitment to research and analysis, powered with uMonitor’s state of the art technologies, delivers the highest quality services to our credit unions and their members."

The uMonitor New Account Application and Online Funding solution allows credit union members to securely apply for and fund new accounts online, all in a single session. The New Account Setup also offers an integrated switch kit to transfer direct deposits and automatic payments as well as close external accounts. The uMonitor Funds Transfer Service is an online money management tool that enables credit union members to move money in a highly secure and reliable way. The service offers the capability to perform a transaction on demand, schedule a future transaction, or schedule recurring transactions.

Additionally, members can monitor the transfers of money between accounts and track all of their transactions online. The uMonitor Account Aggregation platform gives credit union 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 and manage all of their financial accounts online as well as monitor information such as weather, news, flight status, and more.

Dinesh Sheth, CEO of Parsam Technologies, stated, "We are pleased to work with Alabama Credit Union League to deliver the most innovative solution offerings such as New Account Application and Online Funding with Switch Kit, Funds Transfer Service, and Account Aggregation to credit unions to help them offer newer products and services, increase their membership base and remain competitive. Our partnership with ACUL presents credit unions with the unique opportunity to bring branch level services to the online channel, providing added convenience to their members."

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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