MILWAUKEE, April 28, 2006 - Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced its Image Solutions division has successfully implemented branch image capture for over 350 customers around the world.
The Metavante Image Solutions customer base for branch image capture reaches every segment in the financial services sector and to financial institutions of every asset size - from community banks and local credit unions to service bureaus and data centers to the country's largest regional banks and corporate credit unions.
"We have served more customers, in diverse environments, addressing disparate needs than any other provider," said Gary Nelson, president, Metavante Image Solutions. "Our proven leadership with implementations at upwards of 350 customer sites is indicative of the combination of solution breadth, innovation and stability we bring to the marketplace."
Metavante Image Solutions provides distributed capture through its Direct line which addresses all points of presentment including branch teller and back counter, merchant, point-of-sale, and ATMs.
Branch image capture provides financial institutions with the capability to image-capture checks at the teller station or back counter. Branch efficiency is improved by the use of technology to recognize amounts, proof transactions, and facilitate balancing.
Additionally, branch image capture lowers and controls operating costs by trimming courier expenses, eliminating or reducing centralized proofing and reducing overhead. Customer satisfaction is improved by catching and resolving errors at the point of entry. Branch image capture also reduces expensive Day 2 exception or reconciliation issues.
According to prior research by TowerGroup, the bank branch remains the core of financial services, with 90 percent of U.S. households still visiting the bank branch once a month for financial services transactions (including lobby windows/tellers, drive-thru tellers, in-store branches and other branch employees).
Industry experts say that bankers around the world have reconsidered the business dynamic of the branch environment and have begun recognizing it as a very important channel for most customers. With checks involved in a majority of transactions that take place in a branch, the urgency to improve efficiencies and customer service in processing check deposits is having a major impact on branch operations.
Metavante Image Solutions product, distribution, implementation, and support are designed to service a varied customer environment. The branch image capture application is a modular solution that seamlessly integrates with existing teller systems, and check processing systems, providing a seamless path to truncation and check image exchange.
The distribution strategy also includes partnering with large money-center banks and corporate credit unions, to co-brand branch capture for implementation at their correspondent banks and member credit unions.
"What sets us apart is not only product capabilities which we have demonstrated, but also an entire business model that is comprehensive and unmatched," added Nelson.
The Metavante Image Solutions suite of direct distributed image capture applications provides a payment processing infrastructure that accommodates remote deposit capture at every point of presentment - at the branch and off-premises - including commercial and merchant locations. By integrating multiple capture sites, and leveraging a variety of capture devices, paper can be removed from the settlement work flow, lowering payment processing cost through accelerated image check clearing.