Account opening specialist uMonitor has been sold to Harland Financial Solutions for an undisclosed amount, the companies said.
Harland said it will immediately begin integrating uMonitor's solutions into Harland's core processing, lending, mortgage, branch automation, online and mobile banking solutions.
uMonitor has about 125 financial institution clients, about half of them credit unions. Its services include new account opening and funding, account-to-account and person-to-person money transfers, adviser-client relationship management and bill presentment and pay.
"uMonitor's capabilities are an ideal complement to those of Harland Financial Solutions. We now offer end-to-end banking, from back office to consumer facing systems, while maintaining the financial institution's brand and involvement in the transaction," said Raj Shivdasani, president of Harland Financial Solutions in Lake Mary, Fla.
Harland said it will continue to operate uMonitor's main office in Memphis, Tenn., and its development office in Trivandrum, India.
Parent company Harland Clarke Holdings Corp. in San Antonio, Texas, said it now employs more than 5,000 people and has about 15,000 customers, including more than 500 credit unions using the UltraData core processing platform.
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