UMB Financial Corporation Selects Bottomline Technologies' Corporate Electronic Banking Platform; WebSeries(R) Modules Enable UMB to Automate Core Treasury Management Services.PORTSMOUTH, N.H. -- Bottomline Technologies (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EPAY), a leading provider of payments and invoice automation software and services, today announced that UMB Financial Corporation UMB Financial Corporation (NASDAQ: UMBF) is American financial services company based in Kansas City, Missouri with operations in seven, mostly Midwestern, states. The company owns commercial banks, a brokerage company, a community development corporation, a consulting (NASDAQ: UMBF) has selected the company's Corporate Electronic Banking Platform to automate treasury management services including ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to electronic payments, Global Information Reporting and Check Management. Based in Kansas City Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , UMB (1) (Upper Memory Block) See UMA. (2) (Ultra Mobile Broadband) See 3GPP. 1. UMB - Upper Memory Block. 2. UMB - A university(?). provides a complete range of individual and corporate banking services to Midwestern communities in six states. With competition for customers increasing industry-wide, UMB executives recognized the need to transition to Web-based systems capable of providing innovative products and services to its customer base. Based on patented technology, Bottomline's Corporate Electronic Banking Platform allows financial institutions to rapidly transform the efficiency and breadth of treasury management services through a modular software See modular programming. architecture. "Given the competitive nature of the banking industry and the potential to create new streams of revenue through Web-based services, the limitations of back-office systems can jeopardize jeop·ard·ize tr.v. jeop·ard·ized, jeop·ard·iz·ing, jeop·ard·izes To expose to loss or injury; imperil. See Synonyms at endanger. an institution's ability to grow and retain customers," said Terry D'Amore, Executive Vice President, Treasury Management, UMB Financial Corporation. "In Bottomline Technologies we found a strategic partner with a proven track record and the functionality necessary to help us bring innovative Web-based treasury management services to market more quickly and with less risk." With Bottomline's full-featured modules, WebSeries(R) ACH, WebSeries(R) Global Information Reporting and WebSeries(R) Check Management, UMB will be able to redefine the efficiency of services by eliminating paper and reducing labor-intensive processes. Additionally, UMB will be able to decrease IT-related maintenance and costs typically associated with proprietary systems, and the need for customers to access multiple applications for multiple services. "The competitiveness and customer driven nature of regional growth in banking is causing many of the leading institutions to re-evaluate the power of technology in delivering best practice treasury management services," said Joe Mullen Joseph Mullen (born February 26, 1957 in New York, NY) is a retired American professional ice hockey player who played 17 seasons in the National Hockey League with the St. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bottomline Technologies. "In selecting the Corporate Electronic Banking Platform, UMB Financial Corporation has immediately strengthened its ability to deliver high-value customer solutions while enhancing their market leadership and competitive advantage." About Bottomline Technologies Bottomline Technologies (NASDAQ: EPAY) provides payments and invoice automation software and services to organizations seeking more secure and efficient financial processes. The company remains at the forefront of delivering innovative solutions that complement and extend the value of existing financial processes, business relationships and back-office systems. These solutions have enabled the world's leading corporations, banks and financial institutions to automate, manage and control processes involving payments and collections, invoice approval, cash flow, risk mitigation, reporting and document archive. For more information, please visit www.bottomline.com. Bottomline Technologies, WebSeries and the BT logo are registered trademarks of Bottomline Technologies, Inc. which may be registered in certain jurisdictions. All other brand/product names are trademarks of their respective holders. Cautionary Language This press release may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties, including statements regarding expected benefits of use of the Company's products and future growth or results. Among the important factors which could cause actual results to differ materially from those in the forward-looking statements are competition, market demand, technological change, strategic relationships, recent acquisitions, international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. and general economic conditions. For additional discussion of factors that could impact Bottomline Technologies' financial results, refer to the Company's Form 10K filed September 2004, Form 10Q filed May 2005 and any recently filed Form 8K's. |
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