[January 17, 2018] |
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UMB Healthcare Services Offers New Technology Features
UMB
Healthcare Services, a division of UMB Bank, n.a., has launched two
new technology features, Apple (News - Alert) 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
Azue 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 (News - Alert) at facebook.com/UMBBank
and LinkedIn (News - Alert) at linkedin.com/company/umbbank.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180117005324/en/
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