UMonitor, a provider of innovative financial software solutions for customer acquisition and retention operational excellence, and Beacon Software, a company specializing in online banking services and software targeted to community financial institutions, today announced a strategic partnership.
uMonitor will provide a full integration of its account opening and money transfer services for the Beacon Internet Banking Platform. Together the companies will present a seamless way for Beacon's financial institution customers to take advantage of uMonitor services.
The Beacon Internet Banking Platform enables banks and credit unions to develop a business-critical Internet banking presence using a single platform that is managed in-house or hosted in its data center, ensuring total security of information and protection of customer relationships. By integrating with uMonitor services, financial institutions can automate the setup of new accounts while also improving application completion rates, regulatory compliance, back office efficiencies and customer satisfaction.
"Prior to our relationship with uMonitor, a prospective new account was required to complete an online account inquiry at their institution's website, often not receiving a response or activation until the following day," said Jack Fullen, CEO of Beacon Software. "uMonitor's solutions streamline this process so that a customer can open, fund and access a new account online immediately. One of the foundations of Internet banking is to provide total banking access and services 24/7 from any location. Online account opening and funding is a critical component of that premise."
"Beacon Software provides a fully scalable Internet platform that helps many banks and credit unions develop an online presence; by partnering with uMonitor its customers can make their online offerings even more efficient and profitable," said Dinesh Sheth, CEO of uMonitor. "Beacon shares in our commitment to providing the next generation online services such that the strategic needs of the financial institution are met for attracting and retaining their customers. We look forward to expanding online banking services together."