uMonitor Can Help....The Benefits of Adding uOpen & uFund^® to your Online Banking

Is your financial institution looking for ways to not only set yourself apart from your competitors in the complex banking industry, but also increase operational efficiencies, obtain more customers, and increase fraud protection? With uMonitor's uOpen & uFund^®, your financial can do all of these things and more! With uOpen & uFund^® and a Relationship Switch Kit, uSwitch^®, you can:

Increase account opening completion rates with a faster, simpler process that allows you to offer the right products and capabilities to your customers.

• Increase processing efficiencies to lower processing errors associated with manual handling of applications. A universal enrollment platform in the branch, call center and online reduces the risk of errors by streamlining the process of opening and funding a new account.
• Build high customer satisfaction associated with fulfillment of self service options for opening an account. Customers can open and fund an account online 24x7 with standardized, real-time decisioning.
• Offer competitive differentiation that allows you to adopt a next generation online banking technology at the beginning of it's adoption phase. Only 2% of financial institutions currently offer online account opening; this percentage is expected to increase to 18-20% by 2010, according to Celent. Stay ahead of your competitors by adopting early and going to market today!
• Advance customer acquisition and lure wallet share from other financial institutions. By adding another sales channel to your existing branch channel, you can attract a new market of customers. You will extend your market into new demographic areas (i.e. Gen Y and tech-savvy) and geographical areas (wider footprint - extending outside areas where branches are located).
• Increase fraud protection with ID Verification, Patriot Act and CIP Compliance, and Multifactor Identity Verification. Your customer's data is authenticated with internal and third party data sources.
• Improve cross-sell ratios by using decisioning rules to offer uniquely specific products to each applicant. This allows you to deepen your relationship with each client by offering products to fulfill their individual needs.
• Increase direct deposits with uSwitch^®. This product allows your customers to switch their relationships, such as direct deposits, credit cards, loans and bill payments, from other financial institutions to your financial institution.
• Improve backend reporting and monitoring with the Management Console, which allows your staff to run queues, run reports and view audit trails with step-by-step details for each applicant.