Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation , 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."