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Metavante Corporation, the banking and payments technology subsidiary of
Marshall & Ilsley Corporation (NYSE: MI), today announced Corporate
Network eCom® (eCom)
has named Metavante its provider of online bill payment solutions and
will resell Metavante’s entire electronic
presentment and payment solution. eCom, a credit union service
organization, is a majority-owned subsidiary of U.S. Central®.
Created to provide online bill payment solutions exclusively to
corporate credit unions and their member credit unions, eCom will
convert its more than 200 existing credit unions to Metavante online
bill payment solutions in 2008. Through the Metavante-eCom relationship,
corporate credit unions and their member credit unions now have access
to a wide-ranging and flexible set of online bill payment deployment
options, everything from remittance processing to a fully hosted
electronic presentment and payment solution.
“eCom has committed itself to delivering
cost-effective, flexible and customizable bill pay services that
corporate credit unions, credit unions and their members will find easy
to use. Before choosing Metavante, our due diligence had to confirm that
Metavante solutions can deliver on the specific requirements of credit
unions and enhance their Internet service offerings in a way that helps
build stronger member relationships,” said
Marcie Haitema, executive vice president of correspondent services for
U.S. Central and presiding manager of eCom. “Beyond
its technical excellence around bill pay, Metavante has clearly
demonstrated its ability to collaborate with eCom, exhibiting a core
commitment to the usability of online bill pay from the perspective of
the consumer.”
“As a result of eCom’s
arrangement with Metavante and its strong relationship with U.S.
Central, Metavante has an attractive payments opportunity in the credit
union movement,” said Dave Fortney, Metavante
chief technology officer. “eCom has entrusted
Metavante to be its provider of online bill payment solutions for
corporate credit unions and their member credit unions, and we will make
good on eCom’s recommendation by focusing on
satisfaction with a quality of service only a broad-based payments
provider can deliver. Helping eCom build strong payments technology
solutions for corporate credit unions, and in turn, credit unions, will
be a measure of our success.”
Metavante Payment Solutions delivers electronic money movement through
an integrated payments network, including an ATM/PIN-debit network in
NYCE, a check image exchange network in Endpoint Exchange, online bill
pay, healthcare payment solutions, a suite of payment cards and
automated clearing house (ACH) processing. Metavante can help clients
grow revenue by capitalizing on the expanding electronic payments
markets, including financial, healthcare and government payments.
Metavante offers clients the efficient and integrated resources
necessary to offer their customers one of the broadest ranges of payment
options and touch points.
About Corporate Network eCom
Corporate Network eCom, LLC (eCom) is a credit union service
organization (CUSO) and a majority-owned subsidiary of U.S. Central.
eCom partners with corporate credit unions to provide credit unions
cost-effective, flexible, customizable and easy to use electronic
solutions to enhance their Internet service offerings and help them
develop member relationships. (www.memberstreet.com)
About U.S. Central
U.S. Central is the wholesale financial center for the nation’s
corporate credit unions. Founded in 1974, U.S. Central is owned and
directed by its member corporate credit unions, in the tradition of the
cooperative credit union spirit. As the "credit union for corporate
credit unions," U.S. Central exists solely to assist them in serving
8,800 credit unions across the country. Currently, U.S. Central’s
assets total approximately $50.6 billion. (www.uscentral.coop)
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). On April 3,
2007, Marshall & Ilsley Corporation announced its plans to split
Metavante Corporation and Marshall & Ilsley Corporation into independent
publicly traded companies.
Metavante is a registered trademark of Metavante Corporation.