January 26, 2009

Memphis, Tenn-based uMonitor, a financial solution services provider for banking customer acquisition and retention, has partnered with Churchton, Md.-based BANKDetect, a knowledge-based technology company that focuses on loss prevention and compliance. Under the terms of the partnership, the firms will integrate their services for financial services clients.

BANKDetect will incorporate ID verification (name, address, phone, zip, SSN, etc.) including "red flags" compliance (indicators of possible risk of identity theft) with uOpen & uFund, uMonitor's online account opening and funding solution. This will enable uMonitor customers to use BANKDetect to help meet all necessary regulatory compliance requirements as recently set forth by the government.

BANKDetect and uMonitor can integrate with all major core processors. Currently, both companies partner with Open Solutions, which allows Open Solutions' clients to quickly deploy uMonitor's uOpen & uFund and BANKDetect's solutions, as they are already integrated with their core processing platform, online banking service and loan decisioning system.