Company launches uOpen & uFund^® 5.0 with new features & functions

MEMPHIS, Tenn., February 2, 2009 - uMonitor, the innovative financial solution services provider for banking customer acquisition and retention, recently announced the general release of its latest version of uOpen & uFund^®, an online account opening and funding solution with switch kit. The company continues to enhance its flagship solution incorporating industry best practices from over five years of experience and feedback from users that includes improved user interactions with streamlined workflow, expanded back office management capabilities with product and promotion management and enhanced reporting and analytics functions.

uOpen & uFund^® streamlines the account opening and funding process for unified experience online, in call center and in branch by ensuring that all backend operations and business rules are integrated and automated in seamless fashion as appropriate per user, per product, per channel. This solution now enables financial institution across all channels to leverage their marketing investment for best results and delight the customers and staff alike. Financial institutions can now respond to changing market conditions with product and service adjustments in real-time across all channels. The solution also handles multiple brands and multiple channel specific offerings with ease and flexibility.

uOpen & uFund^® 5.0 provides a more user-friendly experience and includes the uMonitor back office management, branch and call center consoles, which give bank staff the ability to manage application process as well as analyze the service results. Financial institutions can experience even higher productivity and cost gains with version 5.0 with many new and upgraded management capabilities. User group management capabilities and work queues are powerful tools for managing application workload and increasing the number of completed applications and cross sell opportunities for financial institutions. Additional features of uOpen & uFund^® 5.0 include a completely new reporting and analytical module that allow financial institutions to review results more effectively and increase the number of successful applications. Financial institutions can also use the switch kit reporting feature to monitor usage and increase financial relationship switching to become their customers' primary financial institution.

"With changing market conditions and the need for added security protections, we have developed this version to , add new features and functions as well as move bring many features previously only found in custom solutions in the general release, providing a more enhanced experience for both the uOpen & uFund^® users at the financial institution and their customers," said Dinesh Sheth, CEO of uMonitor. "We continue to use our customers' feedback and latest technological advances to evolve our solutions to deliver innovative solutions that customers expect from uMonitor."

About uMonitor - Parsam Technologies (www.umonitor.com)
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.