Glenview State Bank extends Metavante contract to EFT and card processing

Source: Metavante

Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today announced an agreement expanding Glenview State Bank's (GSB) relationship with Metavante electronic funds transfer (EFT) and card processing products.

This will complement GSB's continuing use of Metavante-based core processing and check imaging solutions. GSB is an independently owned $920 million bank serving the North and Northwest suburbs of Chicago.

According to the agreement, GSB has extended its contract with Kirchman Corporation, a Metavante company, for use of the Kirchman Bankway core processing solution. In addition, GSB has extended its contract to include Metavante's credit card account processing services.

GSB will also join the NYCE network and implement Metavante EFT and card processing solutions including: ATM driving and monitoring, gateway transaction processing, card personalization, fraud detection and prevention services, and debit card account processing. NYCE, a Metavante company, is a leading U.S. debit-card payments network.

"The expansion of our relationship demonstrates the value we see in the breadth of Metavante's offering and how its recent acquisitions are fitting together to meet our evolving needs," said Roland Weiss, executive vice president, Operations, Glenview State Bank.

GSB's relationship with the Metavante family of companies also includes Advanced Financial Solutions (AFS) and the Endpoint Exchange Network. AFS delivers Check 21 check imaging and truncation solutions to GSB, while the Endpoint Exchange Network facilitates electronic check clearing for GSB.

"Metavante is integrating the Kirchman core processing platform with our EFT and debit services to create the operational and system efficiencies that financial institutions are looking for from their processing partners," said Frank D'Angelo, president and chief operating officer, Metavante Payment Solutions Group. "In addition, by adding NYCE into the mix, we are also helping Glenview State Bank enhance its payments strategy."

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