uMonitor Enrolls 70 Credit Unions Since Takeover
More than 70 financial institutions have signed on as new users of the uOpen online account opening and funding solution since Harland Financial Solutions acquired uMonitor in December 2010, the company said.
More than 125 financial institutions are now using the solution, according to Lake Mary, Fla.-based HFS.
New signees include the $418 million Air Academy FCU in Colorado Springs, Colo.
"uOpen will enable us to create a virtual branch environment," said Lisa Passalacqua, vice president of electronic delivery with Air Academy FCU. "The added value for us is its integration with our existing UltraData Enterprise Core and Cavion self-service solutions. We will be able to create a consistent experience wherever our members choose to do business with us. The integration will also allow us to eliminate many manual processes."
uOpen is part of the uBanking suite, which also includes consumer loans and mortgages, person-to-person (P2P) payments, account transfers and account aggregation.
"The strong demand for uOpen underscores the demand in the marketplace from consumers who now expect the convenience of opening and funding deposits and loans online," said Scott Hansen, executive vice president of business development for HFS. "As this trend continues upward, integration among in-branch and self-service systems will become increasingly important, and financial institutions should seek to unify the customer experience regardless of where and how consumers choose to interact with them.”