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January 7, 2009

Standard Bank and Trust selects uMonitor system

US-based Standard Bank and Trust has selected online account opening and funding system, uOpen & uFund, from uMonitor.

By CBR Staff Writer

According to uMonitor, uOpen & uFund is expected to provide Standard Bank and Trust with a number of features, including helping it stay compliant with the USA PATRIOT Act and the new FACT Act requirements.

uMonitor said that the system also gives the bank the ability to perform online customer ID verification, ID authentication and OFAC checks in real time, performs credit checks on applicants, offers the option to assign the nearest branch to the applicant and automates account set up in its Fiserv ITI core banking platform.

uOpen & uFund even allows an application to be created for existing customers with pre-filled personal information and cross sell and up sell offerings, added uMonitor.

Dinesh Sheth, CEO at uMonitor, said: uMonitor shares Standard Bank and Trust’s devotion to creating a delightful experience for customers. We are excited to see that Standard Bank and Trust has invested in this technology to not only strengthen its existing customer relationships, but building its web offerings to empower the bank to further bolster its service and onboard new customers.

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