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Harland Clarke Expands into Health Savings Account Market

November 12, 2019

SAN ANTONIO--(BUSINESS WIRE)--Nov 12, 2019--

Harland Clarke, a leading provider of omni-channel, customer engagement solutions, today announced it is extending its payment and marketing services offering to the rapidly growing Health/Wealth vertical market of Health Savings Accounts (HSAs). With many of its financial institution clients offering and acting as custodians for HSAs coupled with the company’s payment and marketing services capabilities, Harland Clarke is well-positioned to help clients bring this valuable benefit to consumers.

Harland Clarke, who has served the financial services industry for more than 145 years, works with more than 5,000 financial institutions across the U.S. delivering solutions that help them acquire, activate, grow and retain customers. This rich history of knowing financial institutions, knowing their customers and understanding their regulatory climate and security requirements makes Harland Clarke uniquely equipped to help them connect with employers to increase HSA knowledge, participation and balance growth.

“We have been engaged with one of the largest HSA third-party administrators in the country for several years now,” said Geoffrey Thomas, Chief Product Officer, Harland Clarke. “It has opened our eyes to the importance of HSAs in supporting consumers’ healthcare expenses now and in retirement. Our solutions – tailored for financial institutions to grow and retain deposits – are perfectly suited to support the HSA vertical.”

The solutions behind Harland Clarke’s HSA strategy include:

A 2018 Fidelity Investments study estimated that a couple in retirement will spend more than $275,000 on medical expenses. While the retirement industry has been acknowledging the growing importance of HSAs for an employee’s financial well-being, the rising popularity of HSAs is a relatively new phenomenon.

“We are very excited about the continued growth opportunity of HSAs in the U.S.,” continued Thomas. “These accounts were first introduced in 2004, but they are just now really starting to take hold. Double-digit growth rates are likely for the foreseeable future. We welcome the opportunity to enable third-party benefit administrators and financial institutions to not only grow, but also educate consumers about the benefits of an HSA.”

ABA HSA Council Participation Affirms Commitment

Reinforcing its commitment to helping the HSA industry grow, Harland Clarke, already a member of the American Bankers Association HSA Council, will become a full board member in 2020. The council is an organization of industry leaders committed to working together to raise the awareness and adoption of HSAs to help Americans pay for healthcare. It represents its members before Congress, the White House and U.S. Courts.

“We could not be happier that Harland Clarke is part of the HSA Council. We welcome their support and leadership in driving awareness around the need for health and wealth retirement strategies,” said J. Kevin A. McKechnie, Executive Director, ABA HSA Council. “With its triple tax benefit, next to a 401K or Roth IRA, an HSA may be the best savings and investment account in the country. We need to continue to inform, educate and advocate for consumers about this significant benefit.”

About Harland Clarke

Harland Clarke is a leading provider of customer engagement solutions that help connect businesses and people how, when, and where it matters. The company offers payment tools such as checks and cards; and marketing services such as deposit and loan acquisition programs, digital marketing, performance analytics and promotional products for businesses. It deploys these solutions holistically, across print, phone, and digital channels, ensuring that the customers of its world-class client base enjoy a consistently superior experience. For more information, visit www.harlandclarke.com or follow Harland Clarke on LinkedIn and on Twitter @HarlandClarke.

About the American Bankers Association

The American Bankers Association is the voice of the nation’s $18 trillion banking industry, which is composed of small, regional and large banks. Together, America’s banks employ more than 2 million men and women, safeguard nearly $14 trillion in deposits and extend more than $10 trillion in loans.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191112005379/en/

CONTACT: Stacey Leone

VP, Media, Communications & Industry Relations

Stacey.Leone@harlandclarke.com

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES MARKETING ADVERTISING COMMUNICATIONS FINANCE PUBLIC RELATIONS/INVESTOR RELATIONS

SOURCE: Harland Clarke

Copyright Business Wire 2019.

PUB: 11/12/2019 08:35 AM/DISC: 11/12/2019 08:35 AM

http://www.businesswire.com/news/home/20191112005379/en