To continue to grow the value of its treasury management service offerings, M&I Bank decided to upgrade and expand its receivables processing services at its seven processing sites. M&I Bank sought a new lockbox platform that offered the latest technology in payment acceptance and image processing.

After a thorough competitive evaluation, M&I Bank selected Metavante and its RemitEnterprise platform. RemitEnterprise provides a suite of image-based, client-server products for capturing wholesale, retail and scannable lockbox remittance information.

"We are committed to providing premier treasury management solutions, and in keeping with that commitment, we chose Metavante to enhance our receivables infrastructure and provide our clients with rich image functionality," said Andrea Hatcher, vice president, product team leader, M&I Treasury Management. "Our investment in the Metavante solution provides new technologies to integrate emerging payments solutions and to serve our growing treasury management client base."

RemitEnterprise will support M&I Bank's expanding processing needs across its multi-site footprint, allowing the bank to capture payments in a variety of formats with minimal operator key entry and sets the stage for the bank to consolidate paper-based transactions with electronic payments such as Electronic Data Interchange (EDI), credit card, wire, Automated Clearing House (ACH) and check image exchange.

"As banks continue to operate in a complex environment driven by blended paper and electronic payments, Metavante RemitEnterprise provides a complete image-enabled lockbox and receivables solution - positioning M&I Bank with a competitive advantage over its competitors," said Paul Danola, division president, Metavante Image Solutions.

Metavante Image Solutions provides comprehensive solutions that help banks and businesses transition from paper to electronic payments and image processing. Soolutions that can be delivered in-house or outsourced include image exchange, distributed capture, check and remittance processing, fraud detection, and document and report management. Customers encompass banks and corporations of all sizes worldwide, from de novo banks to the largest financial institutions and corporations.