uMonitor, a provider financial solution services, has introduced person-to-person (P2P) money transfer services, a standard feature of uTransfer Release 5.0.
uTransfer, a funds transfer services platform that allows users to move money online in a highly secure environment, is deployed by banks and credit unions ranging from 50 million-dollar community organizations to $30 billion regional banks.
The new P2P service enables customers to send and receive money electronically via email and mobile phone to and from any third party with a US bank account. It gives banks the ability to enhance customer money transfer options, helping to retain marketshare and grow their deposit-base. The uTransfer 5.0 Release will also expand the back-office reporting, analytics, support, risk management and operational capabilities of this proven platform.
uTransfer’s express next day transfer service, scheduled transfer service, recurring transfer service and other options enable customers to make money transfers in an appropriate amount of time for their given situation.
uMonitor’s multi-party shared risk management service allows financial institutions to monitor money flow while engaging get users and employees in fraud prevention activities. uMonitor does the lifting of service monitoring and risk management for clearing the most transactions in a secure environment.
Dinesh Sheth, CEO of uMonitor, said: “Facilitating transactions between a bank’s customer and their friends and family not only enhances service for the existing customers, but will also provide a point of contact into new relationships.”