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MI Marshall & Ilsley Corp

7.90
0.00 (0.00%)
Last Updated: 01:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type
Marshall & Ilsley Corp NYSE:MI NYSE Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 7.90 0.00 01:00:00

Metavante Forms Commercial Treasury Solutions BusinessGary Kasik, President, Metavante Commercial Treasury Solutions (Photo: Bu

18/07/2006 1:30pm

Business Wire


Marshall & Ilsley (NYSE:MI)
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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.

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