TD Banknorth renews Metavante EFT and card processing contract

Source: Metavante Corporation

Metavante Corporation today announced a long-term contract renewal with TD Banknorth and will continue to drive and monitor its more than 750 ATMs, provide card personalization services and process debit and prepaid debit card transactions for the bank.

Contract renewal includes electronic funds transfer and card payment processing services for $40 billion asset TD Banknorth

TD Banknorth, N.A., the banking subsidiary of TD Banknorth Inc. (NYSE: BNK), has named Metavante as its preferred financial services technology vendor. Metavante is the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).

"As consumers continue to shift more and more of their transactions from paper to electronic, it's critical for us to partner with a payments provider that can capitalize on the growth of electronic payments," said Mark Wetmiller, TD Banknorth executive vice president and chief retail officer. "Metavante continues to be a market leader shaping the payments industry with the breadth of its product offerings and delivers the payments efficiencies valued by financial institutions of any size."

Across its entire customer base, Metavante drives nearly 25,000 ATMs and processes more than 1 billion ATM transactions annually.

In addition to electronic funds transfer and card processing services, Metavante provides TD Banknorth with wealth management services, and its NYCE Network serves as the bank's sole provider for retail PIN debit access. TD Banknorth also looks to Metavante Image Solutions for check image-enabled returns and exceptions processing solutions.

"In Metavante, TD Banknorth has a partner that offers one of the broadest ranges of financial and payment services available in the industry today," said Frank D'Angelo, group president, Metavante Payment Solutions. "Combine that with our commitment to innovation, operational excellence and customer-driven focus, and TD Banknorth has a partner they can rely on to support a growth-oriented payments program."

Comments: (0)