Marshall & Ilsley (NYSE:MI)
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From Sep 2019 to Sep 2024
Metavante Corporation, the banking and payments technology subsidiary of
Marshall & Ilsley Corporation (NYSE: MI), today announced that
Chicago-based Corus Bank, N.A. has entered into an extensive agreement
with Metavante for fully outsourced core processing services. Corus
Bank, N.A., the wholly owned banking subsidiary of Corus Bankshares,
Inc., has elected the Metavante Integrated Banking Solution (IBS) to
include customer relationship management, data warehouse and electronic
funds transfer and card services. In addition, Corus Bank will be
deploying Metavante's integrated electronic banking and bill payment
solution to enhance its customers’ online
banking capabilities, such as receiving, viewing, paying and organizing
bills and statements electronically.
“After careful due diligence, we have
determined that Metavante is the best core processing partner for Corus
Bank to work with going forward. We believe Metavante’s
complete product offerings and dedicated management team will provide
our company with the resources it needs to serve our customers and
profitably grow our business,” said Robert J.
Glickman, president and chief executive officer, Corus Bank, N.A.
From 1998 to 2004, Metavante provided Corus Bank with a suite of
products and services for its 11 bank branches located in the Chicago
metropolitan area. Continued Glickman, “The
scalability of Metavante’s banking solutions
also played a big role in our decision to return to Metavante’s
Integrated Banking Solution. We’ve experienced
significant growth over the years and needed a core processing system
that can support our data processing needs for the future.”
Through its multiple-service relationship, Corus Bank is also leveraging
a broad set of products from Metavante’s
Image Solutions. DirectMerchant, Metavante’s
distributed image capture solution, allows Corus Bank’s
business and commercial customers the convenience of performing
electronic check deposits directly to the bank. Corus Bank is also
benefiting from Metavante’s VisionIP: Check
21. Additionally, Corus Bank has implemented both Positive Pay and
Internet Positive Pay to enhance check fraud detection for the bank's
treasury and cash management clients.
“The breadth and comprehensiveness of our
products, allows Metavante to be a one-stop shop for Corus Bank’s
banking needs,” said Frank R. Martire,
president and chief executive officer, Metavante Corporation. “With
the broad range of banking and payments solutions we offer today, we’re
a different company than we were three years ago. As a strategic
provider to clients like Corus Bank; we focus on the needs of every
client so they can successfully achieve their goals.”
Metavante Banking Solutions offers one of the most comprehensive sets of
integrated products and services for financial service providers that
are centered on core customer and account management, specializing in
deposit, loan and trust accounts. Metavante also provides its clients
flexibility in choosing either a licensed, in-house or an outsourced
solution. The Metavante Banking Solutions include core account
processing, fully integrated delivery channels, business and marketing
analytics, electronic banking, integrated payments, image, risk and
compliance solutions, along with business and technology consulting.
Metavante Banking Solutions serve over 1,500 financial services
providers, ranging from community banks to the top 50 U.S. banks.
About Corus Bankshares, Inc.
Corus Bankshares, Inc. is a bank holding company headquartered in
Chicago, Illinois. Corus conducts its banking operations through its
wholly-owned banking subsidiary Corus Bank, N.A. (the “Bank”).
The Bank is an active commercial real estate lender nationwide,
specializing in condominium, hotel, office and apartment loans. As of
the most recent period-end, Corus’
outstanding commercial real estate loans and construction commitments
totaled $8.4 billion. Corus Bank and its holding company, Corus
Bankshares, will together hold loans of up to $200 million and will seek
to syndicate larger transactions. Corus’
common stock trades on the NASDAQ Global Select Market tier of The
NASDAQ Stock Market under the symbol: CORS.
About Metavante
Metavante Corporation delivers banking and payments technologies to over
8,600 financial services firms and businesses worldwide. Metavante
products and services drive account processing for deposit, loan and
trust systems, image-based and conventional check processing, electronic
funds transfer, consumer healthcare payments, electronic presentment and
payment, and business transformation services. Headquartered in
Milwaukee, Metavante (www.metavante.com)
is wholly owned by Marshall & Ilsley Corporation (NYSE:MI).
Metavante is a registered trademark of Metavante Corporation.