MILWAUKEE, April 6, 2005 â Metavante Corporation today announced the successful rollout of electronic statements at Huntington Bancshares Incorporated (Nasdaq: HBAN), a $33 billion regional bank headquartered in Columbus, Ohio. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).
Under the terms of the agreement, Metavante software is used to electronically create, host and integrate customized electronic statements -- consistent with Huntingtonâs brand -- into its online banking site. From the Huntington website, customers can view their statements on demand in HTML or PDF formats. Metavante electronic statement presentment makes current or historic statements available to Huntington customers in a secure format anytime they need them.
"Huntington went live with Metavante electronic statements around the beginning of the fourth quarter last year and in approximately 90 days, nearly 50,000 accounts elected the service. As a result, Huntingtonâs customers can efficiently and securely access their account statements while Huntington can suppress thousands of paper statements and save thousands of dollars every month," said Ellen M. Johnson, vice president, Huntington Enterprise Online Services. "Momentum continues to build in terms of customer adoption of electronic statements and the advantages go beyond cost savings. For Huntington, having the statements online increases traffic to our banking website and that creates more opportunities to serve our customers. For the customer, they get the increased security and same-day delivery of an electronic statement."
With more than 300 regional banking offices in Indiana, Kentucky, Michigan, Ohio and West Virginia, Huntington has a history of embracing banking technology. In 1991, Huntington became the first bank to use imaging technology to process 100 percent of its checks. Since then, Huntington has partnered with Metavante for services like stored value payroll cards and CSFÂ® document composition software for creation of its checking account statements.
"Our newest agreement with Huntington follows a natural progression offered by Metavante," said Ed McLaughlin, vice president, Payment Solutions Strategy, Metavante Payment Solutions Group. "Huntington started with CSF to create the statement and now Metavante can deliver that statement as a low-cost alternative to traditional mail. Besides the cost savings for the bank, the Better Business Bureau says consumers can protect themselves against identity theft by going paperless with their statements."
Metavante Electronic Presentment and Payment (EPP) is an industry technology leader providing a complete end-to-end solution supporting the entire life of the bill. Its document composition software, CSF Designer, is the premier customer communications tool for over 400 clients representing various industries. Metavante provides innovative bill publishing and bill consolidation technology that generates millions of monthly payments and serves both biller and financial markets. Serving over 3,000 clients, the reliable and scalable Metavante presentment and payment engines enable businesses and consumers to present everything and pay anyone, anywhere, anytime.