December 07, 2010

Looking to expand its position in the self-service and electronic payments arenas, Harland Financial Solutions (Lake Mary, Fla.) announced it will acquire Memphis-based uMonitor. Harland Financial Solutions will immediately begin integrating uMonitor’s solutions into its existing core, lending, mortgage, branch automation, Internet and mobile banking offerings. The terms of the transaction were not disclosed. Harland Financial Solutions will continue to operate both uMonitor's main office in Memphis and its development office in Trivandrum, India.

"Consumers increasingly expect to conduct their business whenever they want, wherever they want, using the channel most convenient to them at any particular moment," said Raj Shivdasani, president of Harland Financial Solutions, in a press release. "uMonitor's capabilities are an ideal complement to those of Harland Financial Solutions. We now offer end-to-end banking, from back office to consumer-facing systems, while maintaining the financial institution's brand and involvement in the transaction. Our integrated solutions will continue to deliver the highest levels of self-service convenience, while striving to improve the financial institution's revenue, profitability, operational efficiency and customer satisfaction through a unified delivery channel experience."

Harland Financial Solutions is a member of the Harland Clarke Holdings Corp. family of businesses providing services to financial institutions, including checks and related services and marketing capabilities such as customer onboarding programs, survey services, email campaign management and call center outsourcing. "The acquisition of uMonitor, and the integration of its solutions into the Harland Clarke Holdings Corp. family, reinforces our position as a leader in payments and financial institution customer acquisition and retention," said Chuck Dawson, president and CEO of Harland Clarke Holdings Corp., in the press release.

uMonitor solutions allow financial institutions to provide services online, in branches and at call centers, from new account opening and funding to account-to-account (A2A) money transfers, person-to-person (P2P) payments, account and advisor-client relationship management, and bill presentment and payment.

ABOUT THE AUTHOR
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 & ...