uMonitor, a provider of financial software solutions, and Beacon Software, a developer of internet banking technology, have entered into a strategic partnership, to provide full integration of their services for community banks.

uMonitor said that it will provide a full integration of its account opening and money transfer services for the Beacon internet banking platform. Together the companies will provide a seamless way for Beacon’s financial institution customers to take advantage of uMonitor services.

The Beacon internet banking platform enables banks and credit unions to develop a business-critical internet banking presence using a single platform that is managed in-house or hosted in its data center, ensuring total security of information and protection of customer relationships.

uMonitor claims that by integrating with its services, financial institutions can automate the setup of new accounts while also improving application completion rates, regulatory compliance, back office efficiencies and customer satisfaction.

Jack Fullen, CEO of Beacon Software, said: “Prior to our relationship with uMonitor, a prospective new account was required to complete an online account inquiry at their institution’s website, often not receiving a response or activation until the following day. uMonitor’s solutions streamline this process so that a customer can open, fund and access a new account online immediately.”

Dinesh Sheth, CEO of uMonitor, said: “Beacon Software provides a fully scalable internet platform that helps many banks and credit unions develop an online presence; by partnering with uMonitor its customers can make their online offerings even more efficient and profitable.”