iCapital® and UMB Expand Blockchain-Enabled Network for Alternative Investments Through Distributed Ledger Technology Integration

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Key Terms

distributed ledger technology technical

A distributed ledger technology is a way of storing a shared digital record of transactions across many independent computers so no single party controls or can silently alter it — imagine the same accounting ledger kept in multiple filing cabinets that all must agree before any entry is changed. For investors it matters because it can reduce fraud, speed up settlement, cut middleman costs and enable new kinds of tradable assets, all of which can affect a company’s costs, revenue models and regulatory exposure.

dlt technical

Distributed ledger technology (DLT) is a digital system for recording and sharing transactions across many computers so records are synchronized, transparent and difficult to alter—like a shared spreadsheet that multiple parties update and can all verify. It matters to investors because DLT can speed up and lower the cost of settling transactions, improve transparency and reduce fraud, while also introducing new operational, legal and regulatory risks that can affect a company's costs and value.

blockchain-enabled technical

A product, service, or process described as blockchain-enabled uses a tamper-resistant, shared digital record to store and verify transactions or data, so multiple parties can see the same information and changes are permanently recorded. For investors this matters because it can lower costs, reduce reliance on middlemen, and increase transparency and traceability—like replacing private ledgers with a public, auditable spreadsheet—while also bringing new operational and regulatory risks to weigh.

transfer agent financial

A transfer agent is a financial service that keeps the official record of who owns a company's shares, handles the buying and selling of those shares on paper or electronically, and issues or cancels stock certificates. Think of it as the company’s records keeper and mailroom combined—investors rely on it to make sure dividends, shareholder mailings, ownership changes, and proxy voting are processed accurately and securely, which protects ownership rights and helps prevent errors or fraud.

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06/22/2026 - 07:00 AM

Integration further extends iCapital’s distributed ledger technology network and scalable operating model that standardizes data, automates workflows, and improves scalability across the alternatives ecosystem.

NEW YORK & KANSAS CITY, Mo.--(BUSINESS WIRE)-- iCapital¹, the global fintech company shaping the future of investing, today announced an integrated partnership with UMB Fund Services (UMBFS), a subsidiary of UMB Financial Corporation (NASDAQ: UMBF) and a national leader in registered and alternative investment fund administration services, to further expand the deployment of its distributed ledger technology (DLT) into the operating layer of fund administration. This collaboration extends iCapital’s blockchain-enabled network to support UMBFS’s fund ecosystem, connecting a critical part of the alternatives ecosystem through a shared data framework designed to improve operational efficiency and scalability.

As advisor and client demand for alternative investments grows, operational complexities across the ecosystem continue to obstruct the investment lifecycle. Industry participants face mounting pressure to scale onboarding, servicing, and data management processes without additional operational burden. By leveraging distributed ledger technology to standardize key workflows, iCapital and UMBFS are establishing the infrastructure needed to support the next phase of industry growth.

“As adoption of alternative investments accelerates, the industry needs infrastructure that enables participants to operate from a shared source of truth,” said Dan Vene, Co-Founder and Head of Digital Innovation. “Our partnership with UMB Fund Services goes back more than a decade and includes increasingly customized and diversified fund structures. We are thrilled to partner with UMB Fund Services to further expand our distributed ledger technology network. This collaboration advances our vision of a connected ecosystem where data moves seamlessly across participants, reducing operational complexity and creating the foundation for long-term scale.”

The integration enables UMBFS to leverage iCapital’s DLT-enabled infrastructure to facilitate the secure exchange of investor and fund data across participants. By creating a shared data model across onboarding, subscription processing, and servicing workflows, the solution reduces manual touchpoints, minimizes reconciliation requirements, and improves operational coordination throughout the investment lifecycle.

“As a transfer agent serving approximately half of U.S. assets for unlisted registered closed-end funds, we have a clear view of where operational friction lives—and subscription processing is at the top of the list,” said UMBFS Director of Transfer Agency Operations Brittany Haiser. “iCapital’s platform addresses that layer directly, enabling scale for both financial advisors and investment managers.”

The collaboration reflects iCapital’s continued advancement of DLT from early use cases to real-world deployment. By connecting wealth managers, general partners, and fund administrators through a shared data framework, iCapital continues to expand the infrastructure supporting a more connected and scalable alternatives market.

About iCapital

iCapital is a global leader, shaping the future of global investing for financial advisors, wealth managers, asset managers, insurance carriers, and other industry participants. iCapital offers a diverse and complete range of non-traditional investment products on iCapital Marketplace, Enterprise Solutions, and both Technology and Data Services, designed to help drive better outcomes² for all participants in the ecosystem.

With strategic investment from leading alternative asset managers, wealth managers, and service providers globally, iCapital provides broad access, data connectivity, education, and research programs to advisors and their clients. Leveraging AI and machine learning for digital identity (KYC/AML), iCapital supports compliant and secure investment lifecycle processes.

iCapital’s end-to-end platform manages the lifecycle of non-traditional investment products, making it easier to learn about, buy, manage, and integrate alternative assets, structured investments, and annuities and insurance products into portfolios, driving growth, scale, and efficiency. Our solution(s) can be customized and offers specific modules as needed.

iCapital has nearly $1.2 trillion³ of assets serviced globally on its platform, including over $311 billion in alternative platform assets, $288 billion in structured investments and annuities outstanding, and $554 billion in client assets reported on, and serves over 3,400 wealth management firms and 130,000 active financial professionals.

Headquartered in New York and Greenwich, CT, iCapital operates globally with 19 offices, including major hubs in Zurich, London, Hong Kong, Singapore, Tokyo, Sydney, Abu Dhabi, and Toronto, and an industry-leading R&D center in Lisbon. iCapital is recognized for its innovation and leadership, with accolades from Euromoney (World’s Best Technology Provider for Wealth Management), CNBC (World’s Top Fintech Companies), and Forbes Fintech 50.

For more information, visit https://icapital.com | X (Twitter): @icapitalnetwork | LinkedIn: https://www.linkedin.com/company/icapital-network-inc

About UMB

UMB Financial Corporation (Nasdaq: UMBF) is a financial services company headquartered in Kansas City, Missouri. UMB offers commercial banking, which includes comprehensive deposit, lending, investment and retirement plan services; personal banking, which includes comprehensive deposit, lending, wealth management and financial planning services; and institutional banking, which includes asset servicing, corporate trust solutions, investment banking and healthcare services. UMB operates branches throughout Missouri, Arizona, California, Colorado, Iowa, Kansas, Illinois, Minnesota, Nebraska, New Mexico, Oklahoma, Texas, Utah and Wisconsin. As the company’s reach continues to grow, it also serves business clients nationwide and institutional clients in several countries.

For more information, visit UMB.com, UMB Blog, UMB Facebook and UMB LinkedIn.

IMPORTANT INFORMATION: This material has been provided to you for informational purposes only by iCapital, Inc. and/or one of its affiliates including Institutional Capital Network, Inc. (collectively, “iCapital”). This material is the property of iCapital. This is not intended as and may not be relied on in any manner as, legal, tax or investment advice, a recommendation to employ a specific investment strategy, or as an offer to sell, a solicitation of an offer to purchase, or a recommendation of any interest in any fund or security. Securities products and services are offered through iCapital Markets LLC, a registered broker/dealer, FINRA and SIPC. Financial products made available by iCapital Markets LLC may be complex and/or speculative and are not suitable for all investors. iCapital Advisors, LLC is an investment adviser registered with the Securities and Exchange Commission and acts as an adviser to certain privately offered investment funds. “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc.

¹ iCapital, Inc. together with its affiliates, "iCapital"

² iCapital delivers better outcomes by streamlining financial operations, enhancing technology infrastructure, and empowering smarter decision-making through reporting and analytics.

³ As of March 31, 2026