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UMB Launches Cloud-Optimized HSA Solution Powered by Microsoft Azure

UMBF | January 18, 2017

UMB Launches Cloud-Optimized HSA Solution Powered by Microsoft Azure

UMB Healthcare Services, a division of UMB Bank and a leading provider of health care payment solutions, is launching its cloud-based Health Savings Account (HSA) applications on Microsoft Azure. As a result, companies can create more efficient and accessible services and applications to help their customers manage their health care accounts.

Azure provides global scale, extensive compliance certification portfolio and enterprise-grade security to enable users in highly-regulated industries to quickly build, deploy and manage applications. Adoption of cloud-based technology in health care and financial services is increasing worldwide due to its speed, scale and economic benefits. By moving its apps to Azure, UMB is helping push the industry forward.

“We are so excited to bring this innovative technology offering to our clients through our partnership with Microsoft,” said Begonya Klumb, CEO of UMB Healthcare Services. “With Microsoft Azure, we will be able to offer more efficient access to innovative applications that will ultimately improve the client experience in the months and years ahead.”

Along with allowing users to access multiple systems at once and speeding up processing times, Azure will also allow UMB to build new applications rapidly and conduct scale and performance tests through the platform or on-site. Additionally, companies will be able to easily monitor the health and availability of applications. End users and customers are expected to benefit from higher uptimes, improved performance during enrollment periods and higher quality technical customer service.

“UMB is committed to investing in industry-leading technology,” said Matthew Coffelt, SVP and CIO at UMB Healthcare Services. “Through this partnership, UMB will continue to bring technical innovation and new solutions to our clients."

UMB Healthcare Services will be transitioning to Azure throughout 2017.

UMB Healthcare Services is one of the top HSA custodians in the nation with 826,000 HSAs and $1.6 billion in HSA deposits and investment assets, as of Sept. 30, 2016. According to the 2016 Devenir Midyear HSA Market Statistics & Trends report, UMB holds 5 percent market share and ranks sixth in the industry by number of HSAs and seventh by HSA deposits and investment assets.

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 umb.com, umbfinancial.com, blog.umb.com or follow us on Twitter at @UMBBank, Facebook at facebook.com/UMBBank and LinkedIn at linkedin.com/company/umb-bank.