Metavante signs Crescent State Bank

Source: Metavante

Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, has chosen to replace its current core processing solution with Metavante Corporation's Integrated Banking Services, a core system offering in the Banking Solutions division of Metavante.

A community bank established in 1998 with assets now exceeding $955 million, Crescent State Bank is headquartered in Cary, N.C. with 13 full-service banking offices located throughout the state.

Crescent State Bank's long-term agreement with Metavante includes banking and payments technology solutions from several areas, including core processing, consumer and business electronic banking, electronic funds transfer, customer relationship management, image, electronic payment and wealth management. The agreement marks an extension of Metavante's relationship with the bank, which has been a Metavante Regulatory Services client since 2005.

"Crescent State Bank was established to provide the financial services of a larger bank with the hands-on, personalized service that only a local bank can provide. Ten years later, we've experienced rapid growth, yet have not strayed from our customer-centric philosophy," said Michael Carlton, president and chief executive officer, Crescent State Bank. "We chose to build our relationship with Metavante to promote internal efficiencies and provide our customers with more competitive services, ultimately supporting our continued business development without compromising our relationship-driven commitment to our customers."

Through its integrated delivery channels and information management tools, Metavante will provide Crescent State Bank with a total view of its customer base and the necessary tools to better understand and communicate with its customers.

"We continue to build extensive relationships with our clients by leveraging our industry-leading knowledge, implementation and integration expertise to provide financial institutions like Crescent State Bank with scalable solutions that position them to succeed," said Jamie Geschke, president of Metavante Financial Solutions Group, which includes the Banking Solutions division. "By deploying an expanded suite of Metavante products and services, Crescent State Bank will benefit from integrated technology solutions that support increased process efficiencies - allowing the bank to grow its business and provide high-touch service to its customers."

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