Company continues rapid growth, surpasses goals, expands industry relationships

MEMPHIS, Tenn., January 26, 2010 - uMonitor, the innovative financial solution services provider for banks and credit unions today announced that it ended 2009 with more than fifteen percent revenue and profit growth.

The company expanded its client base by more than 20 percent, provided new solutions and upgrades to almost half of its existing client base and substantially expanded its strategic alliances with financial technology providers. uMonitor has seen profitable growth since 2003, and it continues to thrive in spite of the difficult economic environment due to the nature of its solutions, which help financial institutions gain market share, grow deposits, and improve operational efficiencies by doing more with less.

As an increase in adoption of new technology brings more bank and credit union customers online, uMonitor experienced an increase in online banking activity such as account-to-account money transfer and new account openings. The company nearly doubled its money transfer volumes and continued to experience strong, steady growth in account opening transactions. Its uOpen & uFund^® solution, an online account opening and funding service with a fully automated switch kit, introduced Release 5.0, which received great acceptance from new and existing clients. Some of the new clients leveraging this solution include Northwest Savings Bank and Pawtucket Credit Union. Financial institutions such as Washington Trust and Coastal Federal Credit Union selected to deploy uTransfer^®, enabling customers to move money between their internal and external accounts on an ongoing basis.

"Financial institutions today are more competitive and face new challenges, and our online and branch solutions provide the tools to compete more effectively in expanded markets," explained Dinesh Sheth, CEO of uMonitor. "The benefits of our solutions continue to be realized as clients leverage the tools for deposit and loan accounts, money transfers and account management. uMonitor is well positioned to continue to grow with the ever-changing demands of financial institutions, and we are expecting robust growth in 2010 as we help our customers achieve their goals."

uMonitor embarked on several new partnerships in 2009, including entering into a reseller agreement with Open Solutions to provide a one-stop solution for core, online banking and account opening, funding and money transfer solutions. The company also partnered with Haberfeld Associates to offer financial institutions enhanced revenue opportunities through customer acquisitions and profitability strategies, as well as T8 Webware and BANKDetect to further expand the reach of its solutions. uMonitor expanded its third party interface library by 25 percent during the same year.

The company's growth and successes were recognized by its inclusion in BusinessTN's HOT100 fast growing companies hot list and the 2009 Inc. 5000, both for the second consecutive year. uMonitor was also selected as an endorsed VIP Partner of the Western Independent Bankers Services Corporation and uSwitch^® was named winner of the CUNA Technology Council's Best of Show Award at CUNA's 2009 Governmental Affairs Conference (GAC).

About uMonitor - Parsam Technologies
uMonitor offers 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, improve employee productivity while reducing costs and delighting customers. uMonitor solutions 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, Advisor-Client Relationship Management, and other services. The company's growth and success were recognized by its inclusion on the Inc. 5000 list in 2008 and 2009.