Open Solutions Inc. has expanded its role as a re-seller of uMonitor's account opening and funding, funds transfers, account management and switch kit solutions, the companies said.
Earlier this year, the companies said more than 25 credit unions and banks already had begun using uMonitor's uOpen and uFund solutions with Open Solutions' core systems.
The new agreement calls for Open Solutions to re-sell all three uOpen and uFund deployment options from uMonitor: the Go-to-Market Solution, the Plus Solution and the Total Solution.
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To expand the self-service channel, uMonitor's uTransfer, uView and uSwitch products also will be part of the re-selling agreement.
Credit unions compose about half of uMonitor's client list of 125 financial institutions, the company said. Open Solutions serves about 5,400 financial institutions, including about 460 running its flagship DNA enterprise processing platforms for credit unions and community banks.
"Community banks and credit unions have a very real opportunity to grow and expand in today's marketplace. uMonitor's online solutions provide the tools that our clients need to develop new business opportunities, and fortify relationships with existing customers," said David Mitchell, senior vice president and chief marketing officer at Open Solutions in Glastonbury, Conn.
"Now banks and credit unions can leverage their deep relationship with Open Solutions and easily add online account opening, account to account transfer, switch kit and other services to achieve operational excellence," said Dinesh Sheth, CEO of uMonitor in Memphis, Tenn.
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