UMB Healthcare Services Offers New Technology Features
January 17 2018 - 9:30AM
Business Wire
UMB Healthcare Services, a division of UMB Bank, n.a., has
launched two new technology features, Apple Pay® and ReceiptVault,
to continue its efforts in building a seamlessly integrated
customer experience for health savings account (HSA) customers.
With Apple Pay, customers can add their UMB Healthcare Services
Visa® debit card to the Apple Pay virtual wallet on their mobile
device to make eligible medical expense purchases. This allows the
customer to make secure and confidential purchases without swiping
or entering card information.
ReceiptVault allows UMB customers to safely track and manage
their health care receipts in one place, which is an important tax
requirement for HSA owners. ReceiptVault can also be beneficial to
UMB customers who have an HSA in conjunction with a long-term
savings goal, such as retirement planning. Employee Benefits
Research Institute estimates the average retired 65-year-old couple
will need a combined savings of $350,000 to cover their medical
expenses in retirement. ReceiptVault helps customers organize
healthcare expenses by keeping track of all receipts so
reimbursement from HSAs can be made when needed, even in
retirement.
HSA receipts can be scanned and uploaded onto a laptop or simply
captured via photo on a mobile device. All receipts are then filed
in ReceiptVault for convenient and easy access along with secure,
long-term storage.
Last year, UMB launched an innovative, cloud-optimized HSA
solution powered by Microsoft Azure and these new offerings
continue to build on UMB’s digital transformation approach through
consumer-centric, simplistic design including real-time access to
relevant information.
“UMB Healthcare Services is committed to investing in technology
to help ensure our customers find efficiency and value in every
step of their journey,” said Begonya Klumb, CEO of UMB Healthcare
Services. “Through our transformation into the digital space, we
are paving the way for the ideal customer healthcare financial
experience. With the addition of Apple Pay® and ReceiptVault, we
are able to offer our customers a flexible and individual approach
to their user experience.”
For more information, visit hsa.umb.com/tools.
UMB Healthcare Services is one of the top HSA custodians in the
nation with over 1 million HSA accounts and $2.3 billion in HSA
deposits and investment assets, as of Sept. 30, 2017. According to
the 2017 Midyear Devenir Report, UMB Healthcare Services ranks
fifth in total accounts and seventh in total assets among all HSA
providers.
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 umbfinancial.com, umb.com, blog.umb.com or follow us on
Twitter at @UMBBank, Facebook at facebook.com/UMBBank and LinkedIn
at linkedin.com/company/umbbank.
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version on businesswire.com: http://www.businesswire.com/news/home/20180117005324/en/
for UMB Financial CorporationNicole Pursley,
573-230-4465NPursley@crossroads.us
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