07.02.2007 14:00:00
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Creative Benefits Completes Integration with First Data and UMB
Creative Benefits, Inc., a leading provider of FSA benefits and
administrative services, has completed integration with First Data
Healthcare Services, part of First Data Corp. (NYSE: FDC) and UMB
Healthcare Services, a division of UMB Financial Corporation (NASDAQ:
UMBF), a leader in financial services for consumer-directed healthcare
products. Creative Benefits, paying more than $95 million in claims
annually, has clients headquartered from coast to coast ranging from
retail to manufacturing, finance to biotech, both public and private
entities.
First Data has already distinguished itself as Creative Benefits’
premier provider of employee benefit payment card processing services.
First Data’s state-of-the-art payment card
transaction processing solution includes integrated real-time
auto-substantiation solutions at various retail and online merchants,
enhancing the member experience at point of purchase. UMB will serve as
the sponsor bank, supporting debit card access and HSA custodial
services.
"When comparing processing solutions, First
Data excelled with their focus on the cardholder experience and the data
they are able to provide for cardholder service. First Data’s
work with over 4.9 million merchants has allowed them to take a
leadership role in bringing more real-time merchant solutions to market,”
said Jody Dietel, chief executive officer, Creative Benefits. "First
Data’s most recent pilot and subsequent
real-time integration with Wal-Mart’s
Inventory Information Approval System is just one example of how they
are increasing choices for members.”
As specialists in the progressive field of flexible benefits, Creative
Benefits not only provides Eligibility, COBRA, HRA, Transit/Parking and
FSA administration, but also serves as a resource for information and
updates on regulations and laws. The combination of Creative Benefit’s
expertise in benefit administration, First Data’s
superior technology for healthcare processing, and UMB’s
experience in healthcare financial service will provide employers with
single-card access to multiple payment card benefit funds, complex purse
prioritization, and a seamless relationship providing end-to-end
solutions.
"We are excited that Creative Benefits has
selected First Data as its processor,” said
Robyn Bartlett-Andersen, general manager, First Data Healthcare
Services. "We believe that working with
well-respected industry leaders like Jody Dietel and her organization,
as well as UMB, will help us achieve our vision of reducing
administrative costs and providing operational excellence to the market.” "We were delighted to see how quickly First
Data delivered transaction information to our database, within seconds
after the cardholder purchased the items,”
said John Hettinger, chief technology officer, Creative Benefits. "The
ability to access quick, accurate transaction information is critical to
our ability to provide world-class customer service.” "We are pleased to team up with First Data to
provide the very best healthcare solutions to the customers of
progressive administrators like Creative Benefits,”
said Dennis Triplett, president of UMB Healthcare Services.
The long-term agreement is effective immediately. First Data and UMB
have begun processing services for Creative Benefits, including issuing
cards, authorizing transactions and verifying account balances. Terms of
the agreement were not disclosed.
About Creative Benefits
From offices in Vista, CA, Creative Benefits, Inc. provides creative
administrative solutions from a foundation of benefits expertise.
Administrative solutions include premium and eligibility administration,
online enrollment, flexible spending account, HRA, HSA, Transit/Parking
and COBRA administration. CB serves clients with headquarters in 38
states and employees in all 50 states.
About First Data Healthcare Services
First Data Healthcare Services provides end-to-end payment solutions
that streamline the healthcare experience for patients, providers, and
payers. The company pioneered a multi-use healthcare card that provides
access to HSA, HRA, FSA, and other funding sources, including an
integrated line of credit. First Data Healthcare Services is one of the
largest processors of healthcare payment cards.
About First Data
First Data Corp. (NYSE: FDC) is a leading provider of electronic
commerce and payment solutions for businesses worldwide. Serving 4.9
million merchant locations, 1,900 card issuers and their customers,
First Data powers the global economy by making it easy, fast and secure
for people and businesses around the world to buy goods and services
using virtually any form of payment. The company's portfolio of services
and solutions includes merchant transaction processing services; credit,
debit, private-label, gift, payroll and other prepaid card offerings;
fraud protection and authentication solutions; electronic check
acceptance services through TeleCheck; as well as Internet commerce and
mobile payment solutions. The company's STAR Network offers PIN-secured
debit acceptance at 2 million ATM and retail locations. For more
information, visit www.firstdata.com.
About UMB Financial Corporation
UMB Financial Corporation (NASDQ: UMBF) is a multi-bank holding company
headquartered in Kansas City, Mo., offering complete banking, asset
management and related financial services to both individual and
business customers nationwide. Its banking subsidiaries own and operate
139 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 an investment services group
based in Milwaukee, Wisconsin, a trust management company in South
Dakota, and single-purpose companies that deal with brokerage services,
consulting services and insurance. For more information, visit www.umb.com.
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