UMB Acquires CardPartner

UMB Acquires CardPartner Affinity Card Service from Serverside Group


Company Release - 05/10/2010 16:05


KANSAS CITY, Mo.--(BUSINESS WIRE)-- UMB Bank, n.a., the lead bank of UMB Financial Corporation (NASDAQ: UMBF), announces the acquisition of CardPartner from Serverside Group. The agreement was signed in the first quarter 2010 and terms of the deal are not disclosed.

The acquisition is a natural evolution of the relationship between UMB and CardPartner. In 2008, the two companies partnered to create a free, customized affinity Visa® credit card program for organizations and not-for-profits of all sizes. UMB has been the issuer and financial custodian of the credit cards, which assist not-for-profit organizations in raising funds via use of the cards.

“UMB is excited about the growth potential of CardPartner’s business model that offers organizations a simple, yet robust fundraising service,” said George Schmelzel, senior vice president of UMB Credit Card Services. “We have seen an increasing number of organizations utilizing this revenue generating program and we continue to experience growing demand for CardPartner’s turnkey solution.”

Doug Davis, vice president of CardPartner business development added that, “Directly aligning our services with a stable and experienced bank in the credit card industry solidifies a tremendous fundraising service for non-profit organizations. As a result of this acquisition, customers will experience no changes and we remain committed to providing the same level of service and dedication as in the past.”

Adam Elgar, President, Serverside Group, said, “The CardPartner business model has huge potential and UMB is perfectly placed to take the company forward. We felt it was important to focus on our own core business, which is to innovate and invest in the future of digital payment cards.”

CardPartner’s current team will remain in place working from their New York City office.

About UMB:

UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate 135 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance, and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers. For more information, visit umb.com or follow us on Twitter at @UMBFinancial.

About CardPartner

CardPartner specializes in helping U.S.-based membership organizations and charities create custom Visa® credit card programs. CardPartner is owned and operated by UMB Bank, n.a., the lead bank of UMB Financial Corporation (NASDAQ: UMBF) – a financial services holding company headquartered in Kansas City, Mo. Visa® credit cards offered through CardPartner are issued by UMB Bank, n.a., and the bank approves credit decisions, grants credit, and manages the administration for card programs offered by CardPartner.

About Serverside

Founded in 2003, Serverside Group is the global technology leader in digital card design and a provider of innovative software solutions to issuers, personalization bureaus and card manufacturers. Serverside has built a market-leading position by running more than 1,000 card programs through its network of approximately 200 card issuers in 23 countries. Its clients include: RBS Group, Banco Sabadell, ING, Permanent TSB, ANZ, BMW, KBC, Fortis, Eurobank, First National Bank Omaha and Heritage Building Society. Serverside Group is headquartered in London and has offices in New York, Chicago and Auckland. To learn more, please visit www.serversidegroup.com.



Source: UMB Financial Corporation


Contact:
UMB Financial Corporation

Steve Wujek, 816-423-6214

swujek@barkleyus.com