First half of 2009 surpasses 2008 and company expands to serve growing demand for its services

MEMPHIS, Tenn., July 28, 2009 - uMonitor, the innovative financial solution services provider for banking customer acquisition and operational excellence, today announced strong growth in the first half of 2009. When compared year-over-year to the same period in 2008, the company reported a 30 percent increase in revenue and doubled its sales force in order to meet the growing demand for banking solutions that improve efficiencies and reduce costs while expanding self-service delivery channel.

"uMonitor has been a profitable company since 2003 and we are proud to say that we are continuing on the same path, "Dinesh Sheth, CEO of uMonitor, said. "The company has continued to expand during the first half of 2009, as is evident by our continued growth in revenue. We have seen a strong demand for our services such as account opening and uMonitor is well positioned to continue to meet that demand and help financial institutions achieve operational excellence."

Already this year, uMonitor expanded its partnerships through Western Independent Bankers (WIB), Open Solutions, Haberfeld Associates and BANKDetect. As a WIB-Endorsed Value and Income Program (VIP) partner, uMonitor's comprehensive suite of online banking solutions will be available to banks in eleven western states and territories. Haberfeld Associates, a consulting firm that helps financial institutions drive revenue growth through a customer acquisition and profitability strategy, will help its financial institution clients direct customers to the best checking accounts for their banking needs and then instantly open and fund the accounts though uMonitor's uOpen & uFund^® solution. The success of these expanded partnerships shows growing need for financial technology providers to work together to bring best options to their bank and credit union customers.

Additionally, uMonitor's uSwitch^® online switch kit was announced as the winner of the CUNA Technology Council's Best of Show Award at CUNA's 2009 Governmental Affairs Conference (GAC). uSwitch^® is a fully automated solution that allows members to transfer all their financial relationships to their preferred financial institution quickly and easily.

"Banks and credit unions alike, focusing on communities and growing in this challenging environment, are really starting to grasp the importance of a full online self service delivery channel to delight their customers," Sheth explained. "An online service strategy should not be only about account opening and account funding. Account to account transfer, account management, document management and relationship switching are all part of solutions that helps financial institutions grow deposit, improve profitability, generate new revenue, achieve operational efficiencies and please customers. We have seen a continued push-pull acceleration/delay of buying decisions by financial institutions. Some want to wait and others are moving forward. We think now is the time to act to come out ahead of competition."

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 Management Service, Document Management System, Advisor-Client Relationship Management and other services. The company's growth and success were recognized by its inclusion on the 2008 Inc. 5000 list.