Financial technology company helps banks and credit unions position for success in the new year

MEMPHIS, Tenn., January 5, 2009- uMonitor, the innovative financial solution services provider for customer acquisition and deposit growth, introduced a special promotion for its online account opening and funding solution, uOpen & uFund^®. For a limited time, financial institutions can deploy uMonitor's account opening and funding solution without any fees for implementation, monthly minimum applications or annual maintenance.

uMonitor is offering this special promotion price to help financial institutions launch online account opening and funding service quickly, and as a result, acquire new customers and retain existing customers with better online banking functionalities despite today's challenging economic environment. uMonitor is waiving the fees so that financial institutions can quickly leverage the online delivery channel to increase core deposits without having to worry about budgeting and costs.

The uMonitor platform is built based on ideas and revenue from financial institutions and the company believes banks and credit unions need this technology now more than ever. Using the solution, financial institutions will be able to allow new and existing customers to securely apply and fund new accounts online in a single session, at any time. The Go-to-Market Solution (GS) is easy to implement. Banks and credit unions can automate ID verification and authentication, product offerings, cross selling and funding without investing in workflow redesign. GS also includes uMonitor's industry leading switch kit allowing your customer to bring more relationships to you making you their primary financial institution for all their needs

"Banks and credit unions are focusing on the online delivery channel to attract and retain customers, and growing core deposits in one of the most difficult environments they have ever seen," Dinesh Sheth, CEO at uMonitor, explained. "The uMonitor platform is ready and now even more affordable to reposition delivery channels and get in the game quickly so they can start positioning themselves for success with customer acquisition in today's competitive market."

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.