New Payment Technology Offers Ability to Build Exclusive Experiences with the Push of a Button

KANSAS CITY, Mo. -- (Business Wire)

UMB Bank, a subsidiary of UMB Financial Corporation (NASDAQ: UMBF), in alliance with Dynamics Inc., introduced an innovative payment platform, ePlate™, a device allowing consumers real-time tangible rewards value, revolutionary personalization options and exclusive access entertainment. UMB Bank—a leader in payment platform solutions—is issuing the ePlate™ device.

The ePlate™ device uses innovative technology to allow the consumer, in real-time, to direct and designate payment transaction activity to build a unique experience from an ecosystem of options in their online Experience Manager™. Within the ecosystem of options, a community of retail, charitable and brand applications exists as created by each experience™ provider. The device can be used worldwide anywhere a traditional credit card is accepted.

“We believe that the uniqueness of the ePlate™ device clearly differentiates this product in the market place and will revolutionize the consumer’s payment experience—as one’s needs and interests evolve, so does the experience,” said George Schmelzel, senior vice president of UMB Credit Card Services. “We’re genuinely thrilled by the incredible alliance between UMB and Dynamics, as it brings together two companies dedicated to innovation in the best interest of the consumer.”

The ePlate device itself has two buttons – each button associated with a different experience. For instance, the consumer presses the “Experience 1” button to select one Experience Provider application and presses the “Experience 2” button to select a different experience. At any time, a user can access the Experience Manager™ software, available via a user’s phone or banking website, to change the experiences associated with each button.

“The experience that UMB has in advanced payment partner platforms is exemplary,” said Jeff Mullen, Dynamics Inc. CEO. “We’ve always viewed working with a quality, reputable and innovative bank issuer as essential to launching the ePlate™ device—with UMB we’ve undoubtedly found an ideal arrangement.”

The release the ePlate™ device is scheduled in time for the holidays. Prior to the ePlate™ device becoming available, full details on terms and conditions will be provided. Visit dynamicsinc.com for more information.

About the Dynamics ePlate™ Device

Dynamics' ePlate™ payment device is a paper-thin, flexible computing platform in a payment card format. The device includes the Electronic Stripe® -- the world's first fully card-programmable magnetic stripe. The Electronic Stripe® can be read at any existing point-of-sale (POS) magnetic stripe reader. The device includes two buttons – one for a first experience and one for a second experience. Based on which experience option was selected, the device changes the information on the Electronic Stripe™ to reflect the selected experience so the user can swipe the card in any store and enjoy the selected experience.

A user can change the experiences associated with the buttons on the ePlate™ device at any time. All a user has to do is use the Dynamics Experience Manager™ software through their favorite phone or accessible through their online banking account. The Experience Manager™ provides an ecosystem of experiences that can be assigned to the buttons on a user’s ePlate™ device.

The ePlate™ device is as durable as a traditional payment card and will last over three years on a single battery charge. The technology does not require any change to the 60 million 1970s-era magnetic stripe readers or reeducation of its merchant base.

About UMB Bank:

UMB Bank is a subsidiary of UMB Financial Corporation (NASDAQ: UMBF), 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 banking and wealth management 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 @UMBBank.

About Dynamics Inc.

Dynamics Inc. was founded and seeded in 2007 by Jeff Mullen, its President and CEO. Dynamics produces and manufactures intelligent powered cards such as advanced payment cards. Focused on introducing fast-cycle innovation to top card issuers, the company's first commercial application is the world's first fully card-programmable magnetic stripe for use in next-generation payment cards. The company has won many of the world's most prestigious international business plan competitions, including the Rice Business Plan Competition, Carnegie Mellon McGinnis Venture Competition and the University of San Francisco Business Plan Competition. The company won DEMOgod and the $1M People's Choice Award at DEMO Fall 2010, Best of Show at FinovateFall 2010, FinovateFall 2011, and FinovateEurope 2012, and Best of Show at BAI Retail Delivery 2011. In January, the company won Best in Show at the 2011 International CES for Personal Electronics and Technology Honors at the 2012 International CES for Personal Electronics. Dynamics has closed a $5.7M Series A round led by Adams Capital Management and a $35M Series B round led by Bain Capital Ventures. Dynamics is headquartered in Pittsburgh, Pa. More information on the company, its technology and applications can be found at dynamicsinc.com.

Contacts:

UMB Financial Corporation
Pam Blase, 816-860-5606
pamela.blase@umb.com

Source: UMB Financial Corporation