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2004 2003200220012000 |
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VIFI and uMonitor, Inc. Partner
to Simplify the Lives of Internet Banking Users Indianapolis, IN and Germantown, TN- VIFI, a provider of Internet based solutions for financial institutions since 1995 and uMonitor, Inc., a leading information aggregation technology platform provider, announced today a strategic partnership to offer the industry's most comprehensive and unique aggregation solution to VIFI's more than 160 financial institution clients. Through this partnership, Internet banking users can consolidate and track their financial account information for savings, checking, retirement, investments and credit cards, giving them one view of their financial status. In addition, they can pull together other value added information such as e-mail, weather, rewards programs, package tracking and more, from either a PC or a wireless device. The unique solution provides financial institutions an affordable and branded tool for their Internet banking users. Through this tool, users can consolidate and manage all of their online account information across multiple institutions via one login- all within their institution's Internet banking site. This technology adds convenience for the Internet banking user, while extending the financial institution's opportunity for higher customer retention and potential cross sell capabilities. As Internet banking users continue to pursue added conveniences, interest in account aggregation is expected to rise significantly. A recent research brief by DataMonitor, Inc., indicates the number of account aggregation users will increase from under 1 million in 200 to 60 million by 2005. A recent study by the Raddon Financial Group (RFG) found that seventy-one percent (71%) of those who were interested, or use an account aggregation service from their primary financial institution's Web site, as opposed to other third party Internet companies. This study illustrates why financial institutions are drawn to offer account aggregation for competitive purposes and why their users are requesting that they offer the service. "Many of our clients are expressing a great deal of interest in aggregation services," indicated Mike Winter, President of VIFI. "They are looking for affordable services that add value to their Internet banking program, help them retain customers/members and present them with competitive advantages in their market place. Through our partnership with uMonitor our clients can offer their customers a very powerful aggregation tool that provides all these advantages and more, through both PC's and wireless devices." A key competitive advantage VIFI clients will have through this partnership is the ability to offer wireless account aggregation in addition to PC based access. Combine this with VIFI's current Internet banking and bill payment wireless services, and users will be able to view their entire net worth via a variety of wireless devices. Contact: Cindy Hofmeister Thomas uMonitor, Inc. 901-757-1212 cthomas@umonitor.com Don Mundie Delta Capital Management LLC 901-755-0949 yearwood@deltacapital.com |
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