Fintura's turnkey New Account Origination solution selected to accelerate UMB Bank's credit card portfolio growth
ATLANTA, Jan. 22 /PRNewswire/ -- Fintura Corporation announced today that it has signed an agreement with UMB Bank, n.a., the lead bank for UMB Financial Corporation (NASDAQ:UMBF), to help the financial institution expand its credit card business in Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona.
UMB Bank provides complete banking and related financial services, including credit and debit card services, small business, private banking and commercial banking, to individual and business customers in seven Midwestern and Western states. UMB Bank will capitalize on Fintura's turnkey New Account Origination solution to accelerate the growth of its credit card program. Fintura is investing all upfront marketing and promotional expenditures associated with their efforts to increase UMB Bank's credit card business.
"UMB Bank has a competitive credit card program that will benefit from Fintura's unique turnkey methodology for new account originations. Their marketing support enhances our own objectives, making them a logical and exciting business partner," said George Schmelzel, Senior Vice President of Card Services, UMB Bank, n.a.
Fintura's New Account Origination solutions are designed to accelerate growth with innovative and timely offerings designed to motivate consumers to do business with financial institutions. Working in partnership with internal marketing staff, Fintura implements market opportunities based on their potential to build long-term revenue streams. It applies its proven proprietary targeting models and methodology to identify the right product for the right consumer. From there, Fintura manages the entire direct marketing campaign from strategy and offer development to printing, postage and mailing.
"We look forward to leveraging our decades of combined financial industry experience and proven data-driven approach to help UMB Bank realize its new account origination goals for its credit card business," said Andrew Mathieson, CEO and Founder of Fintura.
Because Fintura firmly believes in its ability to help it clients achieve greater profitability through its new account origination solutions, the company invests 100 percent of the upfront marketing and promotional expenditures to fund the campaign. Fintura's unique pay-for-performance compensation model shifts the risk away from the financial institution, and Fintura is compensated only when it achieves results.
About UMB Financial Corporation UMB Financial Corporation (NASDAQ:UMBF) is a multi-bank holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to both individual and business customers nationwide. Its banking subsidiaries own and operate 136 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 and insurance.
About Fintura Fintura is an account origination and portfolio management company that offers financial institutions a competitive edge by developing and implementing revenue-generating marketing strategies for credit cards, student loans and home equity product lines. Fintura provides financial institutions with a low-cost, turnkey solution to expand their product portfolios and improve profitability based on a data-driven approach to managing marketing and portfolio management activities. Fintura is privately held and is based in Atlanta, Georgia. More information about Fintura is located at http://www.fintura.com/. DATASOURCE: Fintura Corporation CONTACT: Lisa Durrett of Carabiner Communications, +1-770-754-5471, , for Fintura Corporation Web site: http://www.fintura.com/
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