MADISON, Wis. (3/22/10)--Financial Service Centers Cooperative (FSCC) is the first Gold sponsor of VendorTrack, a CUNA Strategic Services (CSS) provider. “The benefits of being a Gold sponsor include a higher level of exposure to potential credit union clients and better serving current customers with their due diligence needs,” said Wes Millar, CSS senior vice president. FSCC, Ontario, Calif., offers a Shared Branching network with financial access points at more than 6,300 locations. VendorTrack is a third-party vendor management system developed by CSS and TraceSecurity. It has grown to 877 registrants as of March, from 33 credit unions in the beginning of 2009. More than 50 of the registered credit unions have asset sizes of more than $1 billion. Over 53% have less than $100 million in assets. Fourteen credit union leagues also are registered for the service. Credit unions can subscribe to the services for $99 per year. Those already registered will be grandfathered into the pricing structure. New credit unions will receive a free 30-day trial.
ORLANDO, Fla. (3/22/10)--uMonitor has introduced a person-to-person (P2P) money transfer service as a part of uTransfer Release 5.0. uTransfer allows users to move money online in a secure environment. The solution, which has been available since 2003, is used by credit unions and banks of varying asset sizes. The new P2P service will let consumers send and receive money electronically via e-mail and mobile phone to and from any third party with a credit union account. uTransfer Release 5.0 also has expanded back-office reporting, analytics, support, risk management and operational capabilities, uMonitor said. “Facilitating transactions between credit union members’ and their friends and family not only enhances service for the existing members, but also will provide a point of contact into new relationships,” said Dinesh Sheth, uMonitor CEO. uMonitor’s solutions include New Account Setup and Online Funding with Switch Kit, New Loan Application Processing, Funds Transfer Service, Bill Presentment and Payment Solutions, Premium Account Management Service, and Advisor-Client Relationship Management.