Industry-Leading Features Highlight New UMB Remote Deposit System
May 16 2007 - 8:35AM
Business Wire
UMB Payment & Technology Solutions, a division of UMB Financial
Corporation (NASDAQ: UMBF), announces today the deployment of a
remote deposit system with several industry-leading enhancements.
UMB Remote Deposit application supports the new and existing ACH
rules, Account Receivable Entries (ARC), and Back Office Conversion
(BOC). �We are very excited about this enhanced service offering
because these processes and rules combined with Remote Deposit will
supplement our customers� receivable operations,� said Terry
D�Amore, executive vice president and director of UMB Payment &
Technology Solutions. �Remote deposit is not just scanning checks
and making deposits. Today, our customers want information captured
during the scanning process to be easily integrated with their
accounts receivable systems, and our system has those capabilities
and much more.� The Internet-based software is provided by RemitPro
based in Omaha, Neb. �We wanted to partner with an application
provider who is flexible and willing to understand with us what the
customer needs and demands,� added D�Amore. �We are extremely
excited about our relationship with UMB,� said Jana Waughn,
President and CEO of RemitPro. �UMB is a well-respected financial
institution known for putting the needs of its customers first, so
we are pleased to be the provider of choice in serving the needs of
UMB customers. �We are confident that UMB customers will find the
software easy to use and that the efficiencies they will gain
through Remote Capture will be significant,� Waughn added. UMB
Remote Deposit Benefits Improved control of deposit process:
Self-contained and easy-to-use system with audit controls and
workflow reporting resulting in a more reliable, informative
deposit process. Improved accuracy of deposit: Scans and converts
items automatically to image transactions without user
intervention. Improved availability: More frequent and timely
deposits throughout the day. Reduced or eliminated courier service
transportation costs: No need for nightly courier runs or costly
expedited shipments to make cutoff deadlines. Fewer bank
relationships: Reduce the number of depository bank relationships
established throughout the country as all location deposits can be
made to the main UMB depository account, with consistent processing
for all locations. About UMB UMB Financial Corporation is a
multi-bank holding company headquartered in Kansas City, Mo.,
offering complete banking, asset management and related financial
services to both individual and business customers nationwide. Its
banking subsidiaries own and operate 138 banking centers throughout
Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and
Arizona. Subsidiaries of the holding company and the lead bank, UMB
Bank, n.a., include an investment services group based in
Milwaukee, Wisconsin, a trust management company in South Dakota,
and single-purpose companies that deal with brokerage services and
insurance. About RemitPro Since 2001, RemitPro, Inc. has offered
funds processing and risk management software solutions via secure
web-based systems. Our extensive experience in the financial
services and technology industries has helped us develop
cutting-edge software for brokers/dealers, banks, insurance
companies, clearing firms, healthcare organizations, corporations
and back office system providers.
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