UMB Launches Cloud-Optimized HSA Solution Powered by Microsoft Azure
January 18 2017 - 9:30AM
Business Wire
UMB Healthcare Services, a division of UMB Bank and a leading
provider of health care payment solutions, is launching its
cloud-based Health Savings Account (HSA) applications on Microsoft
Azure. As a result, companies can create more efficient and
accessible services and applications to help their customers manage
their health care accounts.
Azure provides global scale, extensive compliance certification
portfolio and enterprise-grade security to enable users in
highly-regulated industries to quickly build, deploy and manage
applications. Adoption of cloud-based technology in health care and
financial services is increasing worldwide due to its speed, scale
and economic benefits. By moving its apps to Azure, UMB is helping
push the industry forward.
“We are so excited to bring this innovative technology offering
to our clients through our partnership with Microsoft,” said
Begonya Klumb, CEO of UMB Healthcare Services. “With Microsoft
Azure, we will be able to offer more efficient access to innovative
applications that will ultimately improve the client experience in
the months and years ahead.”
Along with allowing users to access multiple systems at once and
speeding up processing times, Azure will also allow UMB to build
new applications rapidly and conduct scale and performance tests
through the platform or on-site. Additionally, companies will be
able to easily monitor the health and availability of applications.
End users and customers are expected to benefit from higher
uptimes, improved performance during enrollment periods and higher
quality technical customer service.
“UMB is committed to investing in industry-leading technology,”
said Matthew Coffelt, SVP and CIO at UMB Healthcare Services.
“Through this partnership, UMB will continue to bring technical
innovation and new solutions to our clients."
UMB Healthcare Services will be transitioning to Azure
throughout 2017.
UMB Healthcare Services is one of the top HSA custodians in the
nation with 826,000 HSAs and $1.6 billion in HSA deposits and
investment assets, as of Sept. 30, 2016. According to the 2016
Devenir Midyear HSA Market Statistics & Trends report, UMB
holds 5 percent market share and ranks sixth in the industry by
number of HSAs and seventh by HSA deposits and investment
assets.
About UMB:
UMB Financial Corporation (Nasdaq: UMBF) is a
diversified financial holding company headquartered in Kansas City,
Mo., offering complete banking services, payment solutions, asset
servicing and institutional investment management to customers. UMB
operates banking and wealth management centers throughout Missouri,
Illinois, Colorado, Kansas, Oklahoma, Nebraska, Arizona and Texas,
as well as two national specialty-lending businesses. Subsidiaries
of the holding company include companies that offer services to
mutual funds and alternative-investment entities and registered
investment advisors that offer equity and fixed income strategies
to institutions and individual investors. For more information,
visit umb.com, umbfinancial.com, blog.umb.com or follow us on
Twitter at @UMBBank, Facebook at facebook.com/UMBBank and LinkedIn
at linkedin.com/company/umb-bank.
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version on businesswire.com: http://www.businesswire.com/news/home/20170118005725/en/
UMB Financial CorporationKristin Kovach,
816.423.6131kkovach@crossroads.us
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