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 minimize risk, Advantage Fee will now handle UMB's billing processes, consolidating and streamlining its billing activities onto a single 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. "UMB selected Advantage Fee for its ease-of-use and ability to offer scalability with our expanding operations."
"Advantage Fee from Fiserv is a sophisticated solution that has the agility to accommodate UMB's fee billing requirements for its extensive range of products and services, enabling the company to improve its revenue management and deliver greater operational control," said Geoff Harries, vice president, product strategy, Investment Services at Fiserv.