UMB Financial Consolidates Fee Billing Processes onto Single Platform
UMB Financial, a financial services holding company that owns and operates 136 banking centres across the US, has selected Advantage Fee, a client billing and revenue management solution from Investment Services at Fiserv. The solution will be used to consolidate and automate UMB’s fee billing processes onto a single platform.
Previously, UMB used a combination of manual processes, as well as third party billing systems, to manage its complex fee billing operations. To gain a wider operational view and minimise risk, Advantage Fee will now handle UMB’s billing processes, consolidating and streamlining its billing activities onto one platform. This will ensure shorter billing cycles and faster fee collection for its many and varied products and services including personal trust, investment management and corporate trust and fund services.
“UMB has improved efficiencies with Advantage Fee and we are pleased to provide customers with more clear, concise and accurate invoices,” said Peter deSilva, UMB president and chief operating officer (COO). “UMB selected Advantage Fee for its ease-of-use and ability to offer scalability with our expanding operations.”