Memphis Area Teachers' Credit Union Expands Online Services with uMonitor Technologies

Memphis, Tennessee, January 12, 2006 - Parsam Technologies, the leading provider of uMonitor financial technologies for credit unions and banks, announced today the launch of its industry-leading Account-to-Account (A2A) Funds Transfer Service (FTS) solution by Memphis Area Teachers’ Credit Union, the second largest locally owned financial institution in the Mid-South. The uMonitor Funds Transfer Service gives MATCU the ability to offer their members greater control of their online financial lives.

“Our members appreciate us for providing them with quality products and services. By delivering our branch services to the online channel, we give our members easy access to great services such as uMonitor Funds Transfer Service and Account Aggregation,” stated Carlos Webb, President and CEO of Memphis Area Teachers’ Credit Union. “uMonitor has been a valuable part of our members’ online experiences, and with this new service, we are able to enhance that experience and bring them added convenience.”

The uMonitor Funds Transfer Service enables credit union members to conveniently and securely transfer money between accounts with any financial institution. The service offers the capability to perform a transaction on demand, schedule a transaction for a future date, or schedule recurring transactions. Members also have the ability to monitor and track transactions online. The system also notifies the users of this service of any activity on their account, including service registration, account registration, account activation, and scheduled transactions. The FTS is available to all members who register for MATCU Monitor, extending the usability and convenience offered by the A2A solution.

Dinesh Sheth, CEO of Parsam Technologies, stated, “uMonitor has enjoyed great success in the past year with its Funds Transfer Service, and we are delighted to partner with MATCU to provide this new convenience to their members. Using this service, members now will be able to move money into their MATCU account from any financial institution or send money to their accounts at other financial institutions.

This is the next frontier in online services, and MATCU is the first local institution to offer this service.” 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 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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