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Gary Kasik named president
of new Metavante Commercial Treasury Solutions
Metavante Corporation, the banking and payments technology
subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today
announced the formation of its Metavante Commercial Treasury Solutions
division. The new unit will incorporate existing Metavante offerings
in support of cash management, account information access, payables
and receivables management and other services for commercial clients
of Metavante customers.
Metavante also announced that Gary Kasik will join the company to
serve as president of Metavante Commercial Treasury Solutions. He
brings over 28 years of experience in a wide range of financial
services and technology. A veteran of several Fiserv businesses since
1991, Mr. Kasik most recently served as president of Fiserv BANKLINK,
an outsourced cash management solution for financial institutions
across all asset tiers. Prior to joining Fiserv through an acquisition
in 1991, Kasik was with Citicorp Information Resources where he held
various management positions with the banking technology unit of
Citicorp.
In addition to the products organized within it, Metavante
Commercial Treasury Solutions will also use other Metavante solutions
that provide payment, card-based and other merchant-driven services.
Upon completion of the recently announced VICOR, Inc. acquisition, the
business will become part of the new Metavante Commercial Treasury
Solutions providing support for complex payment requirements.
"By creating a commercial treasury solutions division at Metavante
and appointing a president to lead it, we are responding to our
clients' requests for additional commercial offerings," said Paul T.
Danola, president, Metavante Financial Solutions Group. "Previously,
we have addressed our commercial solutions through our banking
technology businesses. Now, with the new division we will organize
certain products and solutions within it, and we will draw on products
within other Metavante divisions, including payments, to provide a
full end-to-end solution suite to our clients."
Metavante Commercial Treasury Solutions provide the technology and
related outsourcing services to allow commercial clients to manage
their cash and investments, as well as certain income statement items.
Metavante's systems provide full accounting and reconciliation for
such transactions, serving as the system of record and providing full
regulatory compliance, risk assessment and fraud management tools.
Metavante helps 18 of the top 25 commercial banks in the United States
meet the financial services and payment processing needs of thousands
of large corporations, middle market commercial firms and small
businesses. Metavante's comprehensive set of services addresses the
financial service needs companies face in dealing with their corporate
and retail customers, employees and commercial vendors and suppliers.
About Metavante
Metavante Corporation delivers banking and payments technologies
to 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, and
electronic presentment and payment. Headquartered in Milwaukee,
Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley
Corporation (NYSE:MI).
Metavante is a registered trademark of Metavante Corporation and
VICOR is the registered trademark of VICOR, Inc.