Combined Solution delivers end-to-end delivery solution for attracting and retaining new customers online
Corillian Corp. (NASDAQ: CORI), the top provider of online banking, payment and security solutions to the financial services industry, and Parsam Technologies, the provider of uMonitor financial services for online customer acquisition and retention, announced a partnership to combine Corillian’s leading online banking services with uMonitor online account opening and funding, funds transfer, premium account aggregation and other services.
Under the terms of the new partnership, Corillian will market Parsam’s market-leading uMonitor customer acquisition and retention services to existing and new customers. Combined with Corillian’s online banking and payment solutions, financial institutions will have a powerful end-to-end online delivery solution for acquiring new customers and increasing profitability of existing customers. The combined solution will provide integrated account servicing with account opening services to enhance the online and branch channels, enabling financial institutions to begin selling more aggressively online and make the process for applying for a new account much easier. This partnership will allow financial institutions to more effectively leverage the online channel not only for customer self service, but also for online product sales.
"The online delivery channel has proven itself as a solid customer retention and self service channel, and now we want to open the door to more online sales for our financial institution customers," said Alex Hart, president and CEO of Corillian. "As we continue to expand our offerings, partnering with the right companies enables us to bring greater value to our customers. We partnered with uMonitor for their success and reputation in automating the online account opening process. Also, their ability to integrate with many platforms will allow us to rapidly bring these services to our customers."
Both Corillian and uMonitor platforms are recognized in the industry for their superior quality and services. Working together, they will accelerate the adoption of these new services for the benefit of their customers.
"This partnership creates unique opportunities for both companies to address the growing demands from financial institutions to expand online services and improve branch productivity," stated Dinesh Sheth, CEO of Parsam Technologies. He added, "We are delighted with this vote of confidence by Corillian and look forward to working with the Corillian team to meet their customers’ demand for productivity improvements and expansion of the online channel with full branch level capabilities using best -of-class technologies. This partnership is moving forward with a very strong start, and there are many customers using these services now and more are ready to launch it in the coming months."
uMonitor is recognized in the financial services industry for delivering highly dependable services to meet credit union and bank requirements – the best technology, exceptional customer service, and fast system implementation – at a very affordable price.
About Corillian Corporation
Corillian is the market leader of online banking, payment and security solutions to the financial services industry. With 30 of the top 100 U.S. banks and 21 of the top 100 U.S. credit unions as customers, Corillian serves over 35 million online banking end users. Corillian provides the most flexible, scalable and secure set of online banking applications across multiple lines of business, integrating best-practice functionality developed for some of the most innovative financial institutions in the world. Corillian features integrated applications across Consumer Banking, Small Business Banking, Business and Consumer Payments, Wealth Management, Credit Card Management, and Corporate Cash Management, as well as enterprise wide solutions, including Fraud Detection, Alerts, eStatements, and OFX. Corillian's fraud prevention solutions use Preemptive Forensics™ to protect web sites from phishers, hackers, and fraudsters. Corillian's strong authentication solution provides a low-cost solution for multi-factor authentication while maintaining high user satisfaction. Empowered by Corillian solutions, some of the world’s most visionary financial institutions provide their customers with the tools to manage their finances more effectively and securely. For more information about Corillian Corporation, visit the company’s web site at www.corillian.com
About Parsam Technologies (uMonitor)
Parsam Technologies, based in Memphis, Tennessee, is the leading provider of uMonitor financial technologies. Parsam offers a wide range of online solutions specifically designed to help credit unions, banks, and financial institution professionals give their customers the most up-to-date services. These customizable solutions enable financial institutions to increase profitability, generate revenue, improve regulatory compliance, improve employee productivity, and delight their customers while reducing costs. uMonitor technologies include New Account Setup and Online Funding with Switch Kit, New Loan Application Processing, Funds Transfer Service, Bill Presentment and Payment Solutions, Premium Account Aggregation Service, Document Management System, Client Relationship Management and other services. Parsam Professional Services, SRC, delivers consulting services for systems integration and staff and skill augmentation. For more information, please visit www.umonitor.com.