Bank goes beyond account opening with CD reinvestments to expand online presence

MEMPHIS, Tenn., June 01, 2010 - uMonitor, the innovative financial solution services provider for operational excellence with customer acquisition and retention, announced that The National Republic Bank of Chicago has selected its online account opening and funding solution, uOpen & uFund^®, and a CD reinvestment platform uReinvest^®.

The $1.3 billion commercial bank focuses on providing the convenience of banking online, in person, or over the phone with great rates and a variety of products. The bank selected uMonitor based on the company's expertise with online financial solutions and its ability to configure and customize the solution to create a unique National Republic Bank of Chicago experience for customers and convenience for its staff, as well as being able to integrate into their Harland core banking platform.

"Working with uMonitor to offer our services online opens up a new level of opportunities for the bank and our customers," Hiren Patel, chairman at National Republic Bank of Chicago, explained. "We are going to promote our CD programs nationwide. Our customers will not only be able to invest in a great product, but they will also receive notifications when their CDs reach maturity, enabling them to easily reinvest their CD online with uReinvest. Additionally, we believe this will make our CD offering very attractive to individuals who are not currently with our bank and are looking for sound banking investments for the future."

uOpen & uFund will give The National Republic Bank of Chicago's customers 24x7 access to the bank's CD products and allow them to fund their new CD using any external account via ACH. Paired with a strong marketing program, the solution will become a new sales channel to increase CD deposits, while reducing the cost of application processing, improving compliance, improving efficiencies and offering real time decisioning. With uReinvest, The National Republic Bank of Chicago, will be able to directly market to customers when their CDs mature, allowing them to reinvest the funds from the mature CD into a new CD. The solution also offers additional investment of funds with the CD reinvestment from an outside account and the option to reinvest interest from the CD or transfer these funds to the funding account.

"Customers are conducting business online at unprecedented levels and this trend will continue," Dinesh Sheth, CEO of uMonitor, stated. "As a result, they expect for their financial institutions to offer every solution online that can also be accessed in the branch. We are excited to offer uReinvest as one of the newest service in our line of offerings to delight customers and improve reinvestment of CDs."

About uMonitor - Parsam Technologies
uMonitor 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, improve employee productivity while reducing costs and delight 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.