MILWAUKEE, Apr. 12, 2006 - Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced it has completed 19 core processing renewal contracts during the first quarter of 2006. This builds upon its momentum from 2005 when Metavante achieved another record-setting year with a total of 119 financial institutions renewing multi-year core processing contracts for either the Bankway licensed core banking solution, or the Integrated Banking Solution (IBS), an outsourced core processing offering.
The 2005 contract renewals surpassed the 2004 record of 110. In addition, last year Metavante secured 20 agreements with de novo banks, for a total of 57 new core processing contracts. Overall, the renewing financial institutions represent assets exceeding $80 billion. Some of the clients to renew contracts during 2005 include the following corporations and financial institutions listed by geographic region:
. East - Eastern Bank, Boston, Mass.; Tompkins Trust Company, Ithaca, N.Y.; Union State Bank, Orangeburg, N.Y.
. South - Community Trust Bancorp, Pikeville, Ky.; First Security Bank, Searcy, Ark.; First State Financial, Middlesboro, Ky.; Oriental Group, San Juan, Puerto Rico; Renasant Bank, Tupelo, Miss.
. Midwest - BankIowa, Independence, Iowa; Central State Bank, Muscatine, Iowa; INTRUST Bank, Wichita, Kan.; Wintrust, Lake Forest, Ill.
. West - American Savings Bank, Honolulu, Hawaii; PFF Bank & Trust, Pomona, Calif.
"Last year's success demonstrated strong numbers in all market segments. This is a firm endorsement of Metavante's ability to empower de novo banks to come out of the gates ready to compete from day one, and for larger established banks that seek to strengthen their competitive position," said Paul Danola, president and chief operating officer, Metavante Financial Solutions Group. "We are strategically positioned for ongoing growth in every sector of the banking industry, through successful acquisitions, like Kirchman, and our constant focus to help our clients drive growth, efficiency and profit within their organizations."
Metavante Banking Solutions offer the most comprehensive set of integrated products and services for financial services providers that are centered on customer and account management, specializing in deposit, loan and trust accounts. Two core processing products offer clients flexibility in choosing either a licensed or an outsourced solution: Bankway, which is run either in-house or in a hosted environment; or the Integrated Banking Solution, an outsourced platform. The Integrated Banking Solution includes core account processing, fully integrated delivery channels, business and marketing analytics, integrated payments, image, risk and compliance solutions, along with business and technology consulting.
Bankway's core banking software uses a single customer-centric database to produce a broad range of customer and account information. Its flexible, open-system design allows for seamless connections to third-party delivery channels. Metavante Banking Solutions serve over 1,500 financial services providers, ranging from community banks to the top 100 U.S. banks.