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Open Solutions, uMonitor Enter into Reseller Agreement
BOSTON --(Business Wire)--
Open Solutions Inc.®, a leading provider of integrated enabling technologies for financial service providers throughout the United States, Canada and other international markets, and uMonitor, the innovative financial solution services provider for banking customer acquisition and retention, today announced a reseller agreement at BAI's (News - Alert) Retail Delivery Conference and Expo. This agreement enables Open Solutions to directly sell uMonitor's online account opening and funding, funds transfer, account management and switch kit solutions to its financial institutions.
uMonitor's solutions have been fully compatible with Open Solutions' comprehensive online banking, check imaging, loan origination applications and core processing platforms for more than five years. This gives financial institutions the opportunity to key in data only once, thus making the account opening process faster and more efficient, while leaving less room for error. The companies' long-term, strategic partnership has resulted in more than 25 financial institutions benefiting from their integrated services.
As part of the new agreement, Open Solutions will resell all three deployment options for uOpen & uFund®: the Go-to-Market Solution (GS), the Plus Solution (PS) and the Total Solution (TS). This will give bank and credit union clients the flexibility to implement the option that works best for their respective business strategies. Open Solutions offerings will include uTransfer®, uView® and uSwitch® to expand self-service delivery channel.
"Community banks and credit unions have a very real opportunity to grow and expand in today's marketplace," said David Mitchell (News - Alert), SVP & CMO, Open Solutions. "uMonitor's online solutions provide the tools that our clients need to develop new business opportunities, and fortify relationships with existing customers. Providing such a strong tool set while also enhancing operational efficiencies is a win-win situation."
"Open Solutions is a valued partner and taking our relationship to this next level should make it easier for their clients to deploy uMonitor solutions," explained Dinesh Sheth, CEO of uMonitor. "Now banks and credit unions can leverage their deep relationship with Open Solutions and easily add online account opening, account to account transfer, switch kit and other services to achieve operational excellence. All provided by from their trusted partner through this relationship for maximum success."
About uMonitor (www.umonitor.com)
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 Aggregation 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.
For more information on uMonitor or its solutions, contact Gillian Smoot at gsmoot@umonitor.com, call 901.757.1212, ext. 7115 or visit the company on the Web at www.umonitor.com.
About Open Solutions Inc.
Open Solutions Inc. offers a fully-featured strategic information management product platform that integrates core processing applications built on a single centralized Oracle (News - Alert) relational database, with Internet banking, cash management, CRM/business intelligence, financial accounting and management tools, profitability tools, wealth management, imaging, digital documents, interactive voice response, technology services, HSAs, payments and loan origination solutions. Open Solutions' full suite of products and services allows banks, thrifts, credit unions and financial services providers in the United States, Canada and internationally to better compete in today's aggressive financial services marketplace, and expand and tap their trusted financial relationships, client affinity, community presence and personalized service.
For more information about Open Solutions, contact Deborah Katz at deb.katz@opensolutions.com,
phone 860.815.5385 or fax 860.652.3156. Visit Open Solutions on the Web at www.opensolutions.com.
Open Solutions Inc. is a registered trademark of Open Solutions Inc. All other company and product names may be trademarks of their respective owners. Copyright 2009 Open Solutions Inc. All rights reserved.
Editor's Note: The correct usage of the company name, Open Solutions Inc., is either referring to it as Open Solutions Inc. or Open Solutions. Open Solutions no longer uses the acronym of OSI to refer to the company.
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