eFunds Corporation, a leading provider of risk management, electronic payments, ATM and global outsourcing solutions, announced it has renewed its agreement with long-time partner UMB Bank n.a. to provide EFT processing, network access, and ATM monitoring and support for the bank’s 153 locations and 500 ATMs throughout the Midwest. In addition, the new agreement will also introduce an authorization solution to help UMB Bank manage PIN validation and change. While terms of the agreement were not disclosed, the three-year renewal was signed in January and implementation of add-on services will begin this month.
UMB Bank, which has 153 bank locations across six states, has been a partner of eFunds for over thirteen years. The bank is a wholly-owned subsidiary of UMB Financial Corp., a full-service financial company offering a wide range of products for individuals and businesses including traditional banking products, treasury management, investments, trust and wealth management, insurance, annuities, loans, financial planning and brokerage services. “We are extremely pleased to enter into this renewal agreement with UMB Bank, which builds upon our long-standing and valued relationship, and we look forward to contributing to their success for years to come,” said Michael Feliciano, senior vice president and division executive, Electronic Payments Division at eFunds Corporation. “In servicing this agreement for UMB Bank, a leading presence in the Midwest, eFunds will ensure that they have the very best networking, EFT processing and ATM management possible.”
“Our partnership with eFunds demonstrates our commitment to providing our customers with the most comprehensive and compelling payments solutions possible,” said Jim Braddock, vice president, ATM Network, UMB Bank. “Over the course of our relationship, eFunds has proven that they are in touch with the real-life challenges we face — they understand our business, our goals and our customers’ needs. That has helped us to improve what we offer to our customers.”
UMB Financial Corporation is a multi-bank holding company headquartered in Kansas City, Missouri, offering complete banking and related financial services to both individual and business customers. Its banking subsidiaries own and operate 153 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma and Nebraska. 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, consulting services, leasing, venture capital and insurance.
eFunds Corporation (NYSE: EFD) is an industry leader with nearly 30 years of experience and expertise in electronic payments. eFunds provides ATM solutions, electronic transaction processing, risk management, professional and outsourcing services to financial institutions, electronic funds transfer networks, government agencies and retailers around the world.
Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers. eFunds is North America’s largest ATM deployer, one of the largest third-party processors of electronic funds transfers (EFT), and is the provider of the world’s largest debit database. .