UMB Bank renews eFunds contract
28 April 2004 | 1141 views | 0
eFunds Corporation (NYSE: EFD), a leading provider of risk management, electronic payments, ATM and global outsourcing solutions, announced today that 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."