Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that Bank of the Ozarks (NASDAQ:OZRK) has selected Metavante Corporation's trust technology solutions.
Established in 1903, Bank of the Ozarks is the second largest Arkansas-headquartered bank based on its assets of $3.2 billion.
Bank of the Ozarks is deploying Metavante's TrustDesk solution, a real-time, browser-based wealth management platform that streamlines and enhances administration, operations, compliance and investment functions. The TrustDesk solution provides integration of front, middle and back-office processes resulting in a higher level of operating capacity and internal productivity. Bank of the Ozarks has also implemented Metavante's newly released client and executive management portals, which provide an intuitive, role-based, single-click gateway to access pertinent information and better serve clients.
This latest agreement marks an expansion of Bank of the Ozarks' long-term affiliation with Metavante. A client since 1982, the bank has been using Metavante's hosted Bankway core processing solution for 26 years. The bank also uses several of Metavante's image products and services.
"Metavante has a long, proven history with Bank of the Ozarks. When it came time to reevaluate our trust technology platform needs, we looked to Metavante for our solution," said Mark Ross, vice chairman, president and chief operating officer, Bank of the Ozarks. "Metavante's real-time processing solution backed by its client-centric delivery model will enable us to be more competitive in the market place, but more importantly, will best position us to provide our trust clients with exceptional, attentive service."
"With more competition and changing market requirements, both traditional and non-traditional wealth management firms have to deal with greater complexity to not only attract new clients, but retain existing business. Metavante's TrustDesk will help Bank of the Ozarks do just that," said Brian Robinson, division president, Metavante Wealth Management Solutions. "Our integrated platform offers flexibility in scale and scope, providing the bank with innovative wealth management technology to better serve and grow their personal and institutional business lines."
Metavante Wealth Management Solutions offer a set of Internet-enabled products and services to more than 250 financial services providers that address the specific needs of the rapidly growing wealthy, affluent and emerging affluent markets as well as commercial clients. These solutions address asset and liability aggregation, trust and investment account management, client and regulatory reporting, and employee retirement benefit service. Wealth Management provides an extensive suite of solutions that support the delivery of asset and investment-related services to financial services providers for their emerging affluent and high-net-worth clients.