Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that Fulton Financial Corporation, a $16.2 billion regional financial holding company headquartered in Lancaster, Pa., has selected Metavante Corporation's Direct Branch and VisionIP as its new enterprise-wide check imaging and item processing solution.
Metavante and Fulton Financial developed a strategic plan to transition from its existing check processing solution to an image-enabled platform that delivers new value-added services such as Direct Branch, a branch capture solution that enables the bank to image-capture branch work and deposits, transmitting data and images to a centralized aggregation server. Data perfection and transaction balancing services can be performed on site at branch locations or as a centralized process. As a result, courier runs are significantly reduced, saving the bank both time and money. In addition to the deployment of Direct Branch and VisionIP, Fulton Financial is using several other Metavante products and services, including card personalization, risk and compliance, and wealth management.
"Metavante's Direct Branch and VisionIP solutions provided cost savings, making it affordable for us to replace our existing check imaging system with a new, advanced solution that will integrate seamlessly into our environment," said Charlotte Anderson, senior vice president, Fulton Financial. "VisionIP is a scalable solution that supports both our current and future processing volumes while giving us the flexibility to expand our system and add new applications as future needs arise. With the Direct Branch solution, we can extend the end-of-day branch cut-off time for our customers and our same-day processing window, because less time is required to prepare our outgoing cash letters. Metavante managed its implementation process very effectively, providing for a smooth conversion."
Metavante's VisionIP solution, a Windows® operating system based application, supports Check 21 features using an integrated platform to process multiple transaction sources including distributed capture, remote capture, proof-of-deposit and electronic image-based inclearings. Additionally, the solution provides for management of x9.37 files, image cash letter endpoints and image quality assurance.
"Metavante continues to solidify and strengthen its position in the image item processing industry. Even as paper check volumes continue to decline, Metavante continues to realize growth and increase market share," said Paul Danola, president, Metavante Image Solutions. "The image processing technology and strategic interfaces built into the VisionIP solution provide Fulton Financial with the tools to efficiently handle volumes of payments in a variety of traditional and emerging payment formats."