uMonitor and TransUnion Expand Relationship, Focusing on Account Opening and Funding
uMonitor, a Memphis-based provider of solutions for customer/member acquisition and retention, has expanded its relationship with TransUnion (Chicago). This expansion focuses on helping banks and credit unions using uMonitor's account opening and funding solution make better decisions by providing them with easy access to TransUnion's full suite of Fraud and Identity Management and Risk Management services.
uMonitor and TransUnion solutions already are fully integrated for mutual customers. The integrated solutions provide these customers identity management and authentication tools to help address industry regulatory concerns, including the USA PATRIOT Act and FACT Act "red flag" compliance. According to the two companies, now it will be easier for existing and new TransUnion or uMonitor customer banks and credit unions to leverage this integration and deploy account opening and funding services with automated decisioning, DDA risk management, and fraud prevention via branch or online channels.
"Executives today seek operational efficiencies and improved customer or member satisfaction through more streamlined processes both online and in branch", said Linda Moynihan Vance, VP, TransUnion, in a press release. "The expansion of our relationship with uMonitor enhances the ways that our two companies can help financial institutions better meet those goals by providing our mutual customers with an efficient manner in which to leverage the full integration of TransUnion's credit, risk, and identity management tools with uMonitor's funding solutions."
"uMonitor is committed to continually growing our relationships with industry leaders to serve our customers. Both uMonitor and TransUnion understand that accelerated adoption and deployment of integrated services is the optimal solution for a secure, efficient and fully-automated channel to increase wallet share and grow revenue. This will in turn enable financial institutions to increase profitability and reduce costs," said Elaine Gieszler, VP of Business Development for uMonitor, in the press release.
Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio