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NCR and uMonitor Sign Sales Referral Agreement to Provide Online Account Opening & Funding Services |
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Combined solution provides an end-to-end delivery solution for attracting and retaining new banking customers online |
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MEMPHIS, Tenn., Jan. 28, 2008 - uMonitor, the innovative financial solution services provider for banking customer acquisition and retention, today announced that it has entered into a sales referral agreement with NCR Corp.. Under the agreement, NCR will offer two of uMonitor’s online applications as part of NCR’s comprehensive Internet banking solution. These uMonitor applications include uOpen & uFund&trade, an online account opening and funding solution and uSwitch&trade, an online switch kit. |
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This combination will provide NCR’s current and future Internet banking clients with powerful online delivery resources for acquiring new customers and increasing the profitability of their existing customers. The addition of the uMonitor applications enables banks to offer integrated account servicing with account opening and account switching services to more effectively leverage the online channel for customer self-service and product sales. Both the NCR and uMonitor platforms are recognized in the industry for their superior product quality and dedication to customer service. Working together, with complementary technologies, NCR and uMonitor will accelerate the adoption of these new services for the benefit of their financial institution customers. With the uMonitor uOpen & uFund application, the financial institution can open Health Savings Accounts online, open loan accounts integrated with loan origination systems such as APPRO® or Open Solutions’ IA Systems, and streamline and automate the account opening for commercial accounts, such as Business Checking or Business Savings. From a customer viewpoint, the uOpen & uFund application greatly enhances the online banking experience - giving them the ability to set up new deposit accounts, obtain bank-sponsored credit cards and complete loan applications via the Internet. The uOpen & uFund application also offers a range of benefits. For example, it helps financial institutions adhere to Section 326 of the USA PATRIOT Act, which requires that all financial institutions implement a Customer Identification Program. Using uOpen & uFund, banks can easily perform online customer ID verification, ID authentication and OFAC checks; generate credit score and credit reports; develop risk matrixes; and implement cross-sell and up-sell processes. Anheuser-Busch Employees’ Credit Union (ABECU) chose the uMonitor solution to integrate an IA System Velocity® platform, Summit core platform and eFunds (now Fidelity Decision Solutions) with its NCR Internet banking solution. This combination will create a seamless user experience for account opening online. ABECU wanted to have the ability to close unwanted bank accounts, move over direct deposits and automatic payments through the uMonitor uSwitch service as well. "This agreement provides both NCR and uMonitor with the opportunity to address growing demands from financial institutions to expand online services and improve branch productivity," stated Dinesh Sheth, CEO, uMonitor. "We look forward to working with NCR to meet their customers' demand for productivity improvements and expansion of the online delivery channel with full virtual branch functionality using best -of-class technologies." |
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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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