uMonitor said it has now deployed person-to-person money transfer functionality to all users of its uTransfer account-to-account solution.
The P2P service allows end users to send and receive money by e-mail or mobile phone from any third party with a U.S. bank or credit union account, said uMonitor, a provider of account opening and funding and other solutions to about 125 clients, including about 60 credit unions.
The new service is part of the latest release of uTransfer, uMonitor said, adding that its ability to offer P2P on a "proven A2A platform" is a market differentiator.
"With this latest release of uTransfer, financial institutions have more options for their customers while building their own brand instead of referring their customers to third-party networks," said Dinesh Sheth, CEO of uMonitor in Memphis, Tenn.
