Union Bankshares Implements One-Touch for Teller

St. Louis MO--(BUSINESS WIRE)—Nov 16, 2006--PRODUCT4 Inc, a leading provider of enterprise solutions for the financial services industry, today announced that Union Bankshares has implemented its One-Touch for Teller application. Headquartered in Virginia with total assets of about $1.8 billion, Union Bankshares will leverage One-Touch, combined with Fidelity Horizon solution, to increase efficiency, reduce errors and stay in compliance at the front line.

Elizabeth Bentley, Union Bankshares Senior Vice President, stated, "The teller system is one key to delivering the quality and variety of service which our branch customers expect. We needed a system that could do all that, while being scalable to accommodate our growth and easy to integrate with other systems in our environment. We needed a system that was easy for tellers to learn and to work with, and easy to change when we needed to do so. We have had a long and healthy relationship with PRODUCT4 that when combined with their track record of delivery and the strength of their technology, led naturally to this decision to upgrade our teller system to the PRODUCT4 One-Touch software."

Daniel Moskowitz, President of PRODUCT4, Inc.: "Our One-Touch products offers a best-of-breed solution for community banks," said Moskowitz. "Union Bankshares is implementing a forward-thinking approach to its business practices, and we are pleased to help the Company ensure it has the technology in place to exceed customer expectations, generate new sources of revenue and increase efficiency of its operations.
Optimizing productivity, effectiveness:

PRODUCT4 is already assisting in Union Bankshares branches with a common teller and platform environment. At the same time, PRODUCT4 will be working with Union Bankshares to roll out the new One-Touch teller system focusing on optimizing the productivity and effectiveness of its branch workforce. PRODUCT4 One-Touch software fits the bank’s services-based architecture, facilitating integration with existing and emerging capabilities. One-Touch, which leverages Microsoft’s Smart Client technology and .NET architecture, also enables Union Bankshares to tailor the solution to its needs without long development cycles or risky experimentation.

About Union Bankshares Corporation:

Union Bankshares Corporation is one of the largest community banking organizations based in Virginia, using a super-community strategy to serve small and middle market business and retail consumers throughout the high-growth Central Virginia region. Union Bankshares Corporation offers a broad range of financial services through 49 branches of its five community banks and through its investment and mortgage companies. The community bank subsidiaries are well established with a long history of serving their communities: Union Bank & Trust Company (founded in 1902), Rappahannock National Bank (1902), Northern Neck State Bank (1907), Bay Community Bank (1999), formerly Bank of Williamsburg, and Prosperity Bank & Trust Company (1986). Union Investment Services (1993) operates out of four locations and Union Mortgage Group, Inc. (1986), formerly Mortgage Capital Investors, Inc., serves customers through nine mortgage company locations in Virginia, Maryland and South Carolina. Additionally, Bay Community Bank has a non-controlling interest in Johnson Mortgage Company, LLC. Virtually all back-office operations are consolidated within the holding company to create economies of scale, which achieve efficiency and allow the financial service subsidiaries to focus on providing exemplary customer service.

Union Bankshares Corporation's stock is traded under the symbol UBSH. To see additional information about Union Bankshares, visit www.ubsh.com

PRODUCT4 was established in 1991 to develop and market applications to the financial services industries. PRODUCT4 is a pure-play branch automation software and services company. What that means to a Financial Institution is that PRODUCT4 is 100% focused on providing the most robust yet cost-effective retail banking software on the market.

PRODUCT4’s core competencies include software development, systems integration, project management, training, and support. PRODUCT4’s purpose is to improve branch efficiencies, reduce operational costs, increase revenue opportunities, and ensure mandatory compliance in an easy-to-use format.

PRODUCT4’s One-Touch Financial Center sets the bar with its advanced approach to automating and integrating a Financial Institution’s retail banking operations.

Additional information about PRODUCT4 is available at www.PRODUCT4.com.

 
 
 
 
 
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