uMonitor partners with BANKDetect to Offer Online Account Opening and Funding Incorporated with Red Flags, ID Verification.MEMPHIS, Tenn. -- uMonitor, the innovative financial solution services provider for banking customer acquisition and retention, and BANKDetect, a knowledge-based technology company that focuses on loss prevention and compliance for the financial industry, today announced a partnership to integrate their services for financial services clients. BANKDetect will incorporate ID verification (name, address, phone, zip, SSN, etc.,) including "red flags" compliance (indicators of possible risk of identity theft) with uOpen & uFund([R]), uMonitor's online account opening and funding solution. This will enable uMonitor to meet all necessary regulatory compliance requirements as recently set forth by the government.
BANKDetect and uMonitor can integrate with all major core processors. Currently, both companies partner with Open Solutions, which allows Open Solutions' clients to quickly deploy uMonitor's uOpen & uFund and BANKDetect's solutions, as they are already integrated with their core processing platform, online banking service and loan decisioning system.
"We are delighted to integrate BANKDetect's cost effective compliance solutions in our industry leading online account opening and funding service," said Elaine Gieszler, director of channel management for uMonitor. "Financial institutions want to enhance operational efficiencies for onboarding new customers; our partnership with BANKDetect will make this possible by accelerating the deployment of uOpen and uFund services.
"uMonitor shares in our vision to provide cost effective, automated solutions for community banks and credit unions," added Karen Cofod-Smith, executive vice president of BANKDetect. "With ID verification and red flags signaled instantly during the account opening and funding process, financial institutions have all the information they need to proceed with additional analytics and anti-money laundering processes."
BANKDetect, a division of FRAUDetect, LLC, is a privately held knowledge-based technology company providing full service fraud prevention and compliance solutions to the financial industry. The company offers a complete, integrated suite of customer screening, account activity monitoring, risk assessment and reporting solutions geared to both current fraud threats and growing regulatory requirements. With over 12 years experience in the financial industry and a background of more than 30 years developing advanced systems for the national and defense intelligence communities, BANKDetect provides unique technical and operational insights in supporting the needs of its clients.
For more information, contact BANKDetect at 5419 Deale Churchton Road, #205, Churchton, Md., 20733-2404; call 410.867.8217 or visit the company's Web site at www.bankdetect.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 solutions include uOpen and uFund[TM] - Account Setup and Online Funding, uSwitch[TM] - the integrated as well as stand alone Switch Kit, uTransfer[TM] - account to account Funds Transfer Service, uPresent[TM] - the Bill Presentment and Payment Solution, uView[TM] - the Premium Account Aggregation Service, uDocument[TM] - the Document Management System, uAdvise[TM] - the Client Relationship Management solution, and other services.
For more information, please visit www.umonitor.com or contact Gillian Smoot at firstname.lastname@example.org or by phone at 901.757.1212, ext.7115.