Bulgaria's DSK Bank extends Metavante core banking deal

Source: Metavante

Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that DSK Bank of Bulgaria is extending its core banking relationship with Metavante.

DSK Bank is owned by OTP Bank Group, the largest bank in Hungary. With assets of over $4.55 billion, DSK Bank is now the second largest bank in Bulgaria.

A client since 2000, DSK deploys Bankway International's browser-based bank automation software at its network of over 370 branches located throughout Bulgaria, which is the largest branch network in the country. Bankway software supports DSK in serving its over 4 million customers through the processing of over 8 million deposit and loan accounts. DSK also manages on average nearly 2 million and close to 3 million peak daily transactions.

"DSK Bank is currently amid a transformation program aimed at improving customer service and advancing existing practices," said Violina Marinova, chairperson of the management board and chief executive officer of DSK Bank. "The program has already achieved considerable results and the extension of our relationship with Metavante is confirmation of our confidence in the continued ability to help our business achieve a higher level of service and profitability." As part of its relationship, Metavante and DSK work together on product enhancements and deployment capabilities. Current large-scale collaboration initiatives include enhanced product packaging, intuitive browser capabilities, and flexible fees and service charges.

Bankway International is a comprehensive core banking package that uses a single-system, customer-centric architecture built upon a solid multi-lingual and multi-currency foundation. It offers financial institutions a powerful, secure global core processing solution with the advantage of strategically organized customer service tools. Bankway International software is available as an in-house solution running on multiple hardware platforms, or in a hosted environment.

"Metavante is committed to expanding its business internationally through the provision of scalable and efficient systems that allow large financial institutions to successfully compete in a cutting-edge market," said Donald W. Layden, Jr., president, Metavante International Group. "Metavante is providing key technologies that will enable many aspects of DSK Bank's transformation. We look forward to continuing our relationship with a strongly branded bank that is well recognized within Bulgaria's dynamic banking sector."

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