UMB Financial Corporation Chooses PULSE as Exclusive PIN Debit Network Provider
June 05 2007 - 9:00AM
Business Wire
UMB Financial Corporation (NASDAQ:UMBF) and PULSE EFT Association
have extended their relationship in a long-term agreement that
establishes PULSE as the sole provider of PIN debit network
services to UMB. UMB is an $8 billion multi-bank holding company
headquartered in Kansas City, Mo., providing complete banking and
financial-related services to both consumer and business customers
in seven states. George Schmelzel, senior vice president of UMB
Card Services, said the new agreement with PULSE will further the
bank�s growth in a rapidly evolving debit marketplace. �We are
committed to providing unparalleled customer service, and to
creating an environment that consistently exceeds account holders�
expectations,� Schmelzel said. �UMB takes pride in having a
reputation as a financial institution that anticipates our
customers� needs, and we look forward to strengthening this
reputation through our growing relationship with PULSE.� PULSE
President David Schneider said PULSE is eager to expand its
relationship with UMB, which has been a PULSE participant since
2003. �We are pleased to have been selected by UMB to meet its
growing electronic payment needs,� Schneider said. �As a leading
electronic funds transfer network and a pioneer in developing
electronic payments, we realize how important it is to provide the
highest quality of service to our financial institution
participants. UMB�s decision to utilize PULSE as its exclusive PIN
debit network confirms that we are achieving this objective.� The
agreement with PULSE gives UMB the opportunity to have a voice in
the network through a seat on the PULSE Financial Institution
Oversight Committee. Created in 2005, the committee advises the
organization on key issues relative to the network. About UMB
Financial Corporation 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. UMB banking subsidiaries
own and operate 138 banking centers throughout Missouri, Kansas,
Illinois, Colorado, 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 PULSE EFT
Association LP PULSE is one of the nation�s leading ATM/debit
networks, currently serving more than 4,400 banks, credit unions
and savings institutions across the country. PULSE is owned by
Discover Financial Services, a business unit of Morgan Stanley
(NYSE:MS). The network links cardholders with nearly 260,000 ATMs,
as well as POS terminals at retail locations nationwide. The
company is also a valued resource for consumer research related to
electronic payments and is committed to providing its participants
with education on evolving products, services and trends in the
payments industry. For more information, visit www.pulse-eft.com.
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