uMonitor solutions to support geographic growth, add depth to existing customer relationships

MEMPHIS, Tenn., July 13, 2010 - uMonitor, a provider of innovative financial software solutions for customer acquisition and retention operational excellence, today announced that Massachusetts-based UniBank for Savings selected its uOpen & uFund^® solution with switch-kit for processing consumer savings, checking, money market and CD account applications. UniBank will leverage the solution online as well as in the branch to add depth to its existing customer relationships while reducing the workload of its service representatives.

uOpen & uFund is the leading account opening and funding solution with switch kit that automates the setup of new accounts and helps banks become primary financial institutions for their customers. UniBank plans to use the added convenience of these tools online to increase its customer convenience and support geographic expansion.

"uOpen & uFund will help us conveniently offer new services to both new and existing customers," said Ryan Buckley, chief information officer at UniBank. "We selected uMonitor because of its ease of use and robust back end workflow management capabilities. What further added to the value of uOpen & uFund is the wealth of complementary solutions the company offers. We look forward to expanding our service offerings and uMonitor will play a key role in that effort."

Another reason cited for UniBank's selection was the ability to capture partial application information in the event that the process was abandoned. "So many people today multitask on an ongoing basis and might not have the chance to finish an application that they intended to submit – just having the ability to follow up with them and complete the process is a valuable capability," Buckley added.

"UniBank offers a wide range of deposit accounts and loans; enough to meet the needs of customers on several different levels," said Dinesh Sheth, CEO of uMonitor. "uOpen & uFund is the ideal addition to bank's offerings for valued customers. It offers an easy and convenient way to open an account and sign up for additional services. This added convenience helps the bank provide more personal service online and in the branch, taking full advantage of the bank’s financial products. Additionally, it will also help UniBank expand geographically all while maintaining the customer-friendly service for which UniBank is known."

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, Person-To-Person Payments, 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.