uMonitor, the innovative financial solution services provider for banking customer acquisition and retention, today announced that it has teamed with Equifax Inc. (NYSE: EFX) to help banks and credit unions improve existing account opening practices and expand online channels. Financial institutions now can take advantage of a new interface that leverages Equifax’s risk decisioning technology and uMonitor’s uOpen and uFund™ online account opening and funding solutions.
Working together, uMonitor and Equifax can offer an integrated online service functionality consisting of account opening and funding services, online and branch delivery channels and advanced data and automation.
“Flexibility and efficiency are critical for banks and credit unions looking to streamline processes and transform the way they do business in today’s credit economy,” said Rajib Roy, president, Equifax Enabling Technologies. “Working with uMonitor, we can provide customers with even more flexibility by giving them access to an integrated solution to make better, real-time account and risk decisions.”
The new interface leverages identity verification and authentication capabilities, as well as an instant prescreen and cross-sell scoring matrix that enables financial institutions to offer customers appropriate products and services. Through this relationship, customers benefit from both companies’ capabilities in the areas of identification, system integration and process improvement.
“Equifax has a track record for providing businesses with identity verification and authentication solutions,” said Dinesh Sheth, CEO, uMonitor. “Combining our online account opening and funding with its existing infrastructure will improve the levels of accuracy and efficiency available for financial institutions. We look forward to working with Equifax to bring this next-generation service to banks and credit unions across the United States.”
About Equifax (www.equifax.com)
Equifax empowers businesses and consumers with information they can trust. A global leader in information solutions, we leverage one of the largest sources of consumer and commercial data, along with advanced analytics and proprietary technology, to create customized insights that enrich both the performance of businesses and the lives of consumers.
Customers have trusted Equifax for over 100 years to deliver innovative solutions with the highest integrity and reliability. Businesses – large and small – rely on us for consumer and business credit intelligence, portfolio management, fraud detection, decisioning technology, marketing tools, and much more. We empower individual consumers to manage their personal credit information, protect their identity, and maximize their financial well-being.
Headquartered in Atlanta, Georgia, Equifax Inc. employs approximately 6,900 people in 14 countries through North America, Latin America and Europe. Equifax is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX.
Equifax is a registered trademark of Equifax Inc., Atlanta, Georgia. All rights reserved.
About uMonitor (www.umonitor.com)
uMonitor financial technologies offer a wide range of online solutions specifically designed to help financial institutions provide the most up-to-date services. These highly configurable and customizable solutions enable financial institutions to increase profitability, generate revenue, improve regulatory compliance, and improve employee productivity while reducing costs.