KANSAS CITY, Mo. & BOSTON--(BUSINESS WIRE)--
Healthcare Services, a division of UMB Bank, n.a., and Bend
Financial today announced a partnership to offer UMB custodial
account, benefit card issuer and tier one customer support services on
Bend Financial’s HSA platform, launching in Oct. 2018.
Bend Financial’s powerful consumer-centric platform, Bend HSA,
dramatically evolves the consumer experience. It makes HSAs easy for
everyone to understand and use, maximizes tax benefits and transforms
the fragmented and dated user experience.
A new player in the HSA administration services space, Bend Financial is
led by CEO Tom Torre, who has more than 20 years of financial services
and consumer-directed healthcare experience. The executive team also
includes Itamar Romanini, widely recognized as one of the nation’s
leading experts in consumer-directed healthcare.
“We are excited about the strategic partnership with Bend Financial
which brings together the strength and tenure of UMB Bank with the
entrepreneurial spirit of the long-term industry innovators at Bend,”
said Ben Morris, president of UMB Healthcare Services. “Our partnership
will effectively enable Bend to deliver a leading-edge client experience
by providing a reliable and streamlined consumer-centric portal that
will consistently improve the consumer experience for accountholders.”
Bend HSA uses advanced technologies to help individual consumers
optimize HSA tax benefits and health spending through their HSA account.
The platform learns about individual situations and provides actionable
advice. It offers accountholders a dashboard view of health care
financial wellness with unmatched features such as contribution goals
and a breakdown of how and when HSA funds are spent.
“UMB Healthcare Services is an ideal partner for Bend, with the
experience and scale necessary to help bring this genuinely innovative
platform to market,” says Torre. “We’re excited to be working with UMB
to make HSAs easy for everyone to use.”
UMB Healthcare Services continues to be a leading financial custodian
for the health care payments market and a steward for consumer-directed
health care industry. Along with the newly formed partnership with Bend
Financial, UMB continues to deliver health care payment solutions
including HSAs and customized multipurpose benefit debit cards for
insurance carriers, third-party administrators, software companies,
employers and financial institutions.
About Bend Financial:
Financial is a Boston-based technology and services company that
provides health savings account and financial wellness solutions to
individuals, employers and organizations in the group benefits
distribution market. Its innovative approach and product offerings
simplify the use of HSAs while making the product attractive to all
types of health care consumers.
UMB Financial Corporation (Nasdaq: UMBF) is a financial services company
headquartered in Kansas City, Mo. UMB offers personal banking,
commercial banking, healthcare services and institutional banking, which
includes services to mutual funds and alternative-investment entities
and registered investment advisors. UMB operates banking and wealth
management centers throughout Missouri, Illinois, Colorado, Kansas,
Oklahoma, Nebraska, Arizona and Texas. For more information, visit UMB.com,
Blog or follow us on Twitter at @UMBBank,
Facebook and UMB
View source version on businesswire.com: https://www.businesswire.com/news/home/20180906005131/en/
Nikki Pursley, 816-423-6902
Gina Veazey, 703-254-6276
Source: UMB Financial Corporation