MILWAUKEE, July 18, 2005 â Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today announced that Baltimore-based Provident Bank, the banking subsidiary of Provident Bankshares Corporation, has signed a multi-year agreement for its NuEdge Suite marketing automation solution. With over $6.6 billion in assets, Provident Bank is the second largest independent commercial bank headquartered in Maryland.
"Knowing our customersâ needs is a key part of our relationship sales strategy. The timeliness and depth of information such as customer interaction and transaction data is paramount to our ability of accomplishing this," said Andy Snyder, vice president, Customer Intelligence, Provident Bank. "Metavanteâs NuEdge Suite offers us this capability plus a sophisticated campaign management system, which allows us to efficiently execute our strategies."
NuEdge Suite is a marketing automation solution that goes beyond traditional Marketing Customer Information File (MCIF) functionality. It provides data integration, consolidation and householding capabilities, which allow organizations to segment customer information to make more informed marketing decisions. Its campaign management capabilities streamline the process of sending targeted individualized marketing communication to customers. Additionally, NuEdge Suiteâs in-depth campaign response analysis provides clients with detailed marketing ROI capabilities. Metavante has integrated the NuEdge Suite of products into its core processing solution in an Application Service Provider (ASP) hosted environment. It is also available as a licensed, in-house solution.
"NuEdge Suite will streamline Providentâs marketing strategies by consolidating 20 distinct data resources to provide a single, unified view of all its customers. This, coupled with NuEdge Suiteâs accelerated speed in refreshing database information and creating access to data, make it unparalleled to any other marketing automation tool available in the market today," said Paul Danola, president and chief operating officer, Metavante Financial Solutions Group. "Provident Bank is an established leader in the banking industry for individuals and businesses in the Eastern region. And the new fully integrated NuEdge Suite, complemented by our comprehensive core processing solution, is a winning combination to help Provident increase its customer base and gain a better understanding of how to retain its customers. Weâre proud of our long-standing relationship with Provident and look forward to being part of its continued success."
Metavante currently provides Provident Bank with an extensive list of banking and payment products and services, including financial account processing, electronic funds transfer and card processing, electronic presentment and payment, electronic banking, and customer relationship management. In addition, NYCE Corporation, a Metavante company, provides Provident Bank with data processing, network and gateway services. NYCE is a leading U.S. debit card payments network.
Metavante delivers a complete, integrated Customer Relationship Management solution that offers analytical and decision support capabilities, channel integration, marketing automation, sales and service automation, and consulting services that include application optimization, as well as business strategy development and implementation. Metavante provides CRM products and services to more than 500 financial services organizations, helping them achieve a customer-centric business environment.