Communication Federal Credit Union, an Oklahoma-based credit union, has deployed account opening and funding solution uOpen & uFund from uMonitor, a provider of online solutions for financial institutions.
The credit union will leverage uMonitor’s reseller arrangement with Equifax to bundle Equifax Secure’s eIDverifier, a remote authentication service, with the online account opening and funding service.
Communication FCU purchased eIDverifier directly from uMonitor with its uOpen & uFund to add identity verification and authentication capabilities into uMonitor’s solution without separate integration or contract work on its part.
uOpen & uFund will enable Communication FCU to allow new and existing members to apply for multiple deposit accounts and fund them online in a single session. Combined with eIDverifier, the solution will help Communication FCU comply with the USA Patriot Act and FACT Act Red Flag requirements and meet NCUA, FFIEC and FCRA guidelines.
Christina Titterington of Communication FCU, said: “We want to provide our members with the ability to open accounts and bring in more deposits online in an easy and convenient manner. uOpen and uFund, when deployed with eIDverifier, allows members to do this in a secure environment with streamlined fraud detection and ID verification processes.”
Dinesh Sheth, CEO of uMonitor, said: “Our deployment at Communication FCU provides a single source solution with the strongest industry advantages.”