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uMonitor Selects Wolters Kluwer Financial Services’ Industry-Leading Compliance Documents For Its Online Account Opening and Funding Systems |
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MINNEAPOLIS - June 17, 2008 - Wolters Kluwer Financial Services and uMonitor announced today that the companies will integrate Wolters Kluwer Financial Services electronic lending, deposit and Individual Retirement Account (IRA) compliance documents into uMonitor’s uOpen & uFund&trade account opening and funding service. |
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Under the terms of a referral agreement, uMonitor will refer customers to Wolters Kluwer Financial Services’ documents, which will provider them with access to industry-leading compliance content based upon decades of experience and knowledge. The content, offered through Wolters Kluwer Financial Services’ Bankers Systems product line, is continually developed and maintained by the company’s extensive in-house legal and compliance services team. "As a leading provider of online account opening and funding service in the industry, we continue to integrate services for other technology leaders that add value to the solutions we offer," said Dinesh Sheth, CEO of uMonitor - Parsam Technologies. "We understand that our clients place a high level of trust in us, and we exercise great discretion in recommending third-party solutions. With great experiences in working with Wolters Kluwer and their unsurpassed reputation we have full confidence that together we will offer unique value proposition to our clients." "We’re pleased to be working with uMonitor to give their customers access to the most complete and up-to-date compliance content in the industry," said Dave Roy, vice president and general manager, Banking, Wolters Kluwer Financial Services. Wolters Kluwer Financial Services compliance documents help financial institutions comply with regulatory requirements in all 51 U.S. jurisdictions and can be customized as needed according to an institution’s specific business practices and policies. The uOpen & uFund solution enables financial institutions to improve both their competitive positioning and online services experience. Banking customers can set up new deposit accounts, obtain credit and debit cards and complete loan applications via the Internet. uOpen & uFund helps financial institutions adhere to Section 326 of the USA PATRIOT Act, and offers online customer ID verification, ID authentication and OFAC checks. It also provides a way to develop risk matrix and implement cross-sell and up-sell processes. With compliance documents, disclosures and online funding, the process is fast and simple.
About Wolters Kluwer Financial Services Wolters Kluwer Financial Services’ solutions include integrated and stand-alone compliance and work flow tools, documentation, analytics, authoritative information, and professional services. Customers include banks, credit unions, mortgage lenders, and securities and insurance organizations of all sizes throughout the United States. For more information on Wolters Kluwer Financial Services, visit www.WoltersKluwerFS.com. Wolters Kluwer is a leading global information services and publishing company. The company provides products and services globally for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer has annual revenues (2007) of EUR 3.4 billion ($4.8 billion), maintains operations in over 33 countries across Europe, North America, and Asia Pacific and employs approximately 19,500 people worldwide. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Visit www.wolterskluwer.com for information about our market positions, customers, brands, and organization.
Wolters Kluwer Financial Services |
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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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