uMonitor, the innovative financial solutions provider for operational
excellence with member acquisition and retention, announced at the Open
Solutions 2010 Client Conference& Solutions Expo that Vermont State
Employees Credit Union (VSECU) selected a suite of uMonitor solutions.
The $472 million credit union will leverage uMonitorâs uOpen& uFund®
and uTransfer® solutions to meet its needs for on boarding a member
effectively through all channels while also offering them additional
online services.
uOpen& uFund®, an account opening and funding solution with an
integrated switch kit, is implemented to automate the setup of new
accounts while also improving application completion rates, regulatory
compliance, back office efficiencies and customer satisfaction.
uTransfer®, a money transfer platform, will enable members to easily
move money in a highly secure online environment; this added convenience
creates new ways to engage members and generate ongoing transaction
revenue. These solutions integrate seamlessly with Open Solutionsâ
comprehensive Internet banking and cash management solution, e-Commerce
Banker(TM) (e-CB) and core data processing platform, DNAâ¢. The
full-range of Web banking solutions will help VSECU to better compete
with financial institutions of all sizes while improving service and
convenience for its existing members.
âThe old credit union adage ânot for profit, but for serviceâ has been a
pillar of Vermont State Employees Credit Unionâs philosophy since 1947,â
said Sara Pryce, business systems specialist at VSECU, âand implementing
innovative uMonitor solutions is one of the ways that we can continue to
enhance the services we offer our members. The combination of uMonitorâs
and Open Solutionsâ services, provide us with a cohesive channel
strategy where our members can accomplish any banking transaction from
account opening to money transfers under a single sign on.â
âIn todayâs competitive banking environment, it is important that credit
union members are able to perform all their transactions, anywhere they
prefer,” Dinesh Sheth, CEO at uMonitor, said. âVermont State Employees
Credit Union caters to the entire state with seven branches, so offering
a fully functional, robust Web site-based virtual branch will be a
strong complement to their physical presence, adding convenience and
driving revenue. The credit union is very well positioned to compete
with financial institutions of all sizes while continuing to delight its
members.â
About uMonitor (www.umonitor.com)
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 companyâs growth and
success were recognized by its inclusion on the Inc. 5000 list in 2008
and 2009.
