Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that The Bahamas Mortgage Corporation has signed a long-term agreement with Metavante Corporation for core processing services and other banking and payments technology.
The Bahamas Mortgage Corporation, located in Oakes Field, Nassau, is a quasi-government agency of the Bahamian Government in the Bahamas.
The corporation will be deploying Metavante's Bankway core processing software, a comprehensive core banking package that uses a single-system, customer-centric architecture. It offers financial institutions, like The Bahamas Mortgage Corporation, an expanded core processing solution with the advantage of strategically organized customer service tools. Through the Bankway platform, Metavante is also delivering its VisionContent solution, software that allows long-term archival and retrieval of customer documents, to assist the corporation with the cost-effective image management of loan documents.
In addition, The Bahamas Mortgage Corporation will take advantage of Metavante's Web-based mortgage Loan Origination Studio (LOS) solution to streamline the loan origination and servicing of government-funded mortgages for citizens of the Bahamas. The LOS is fully compatible with Metavante's Bankway software and will allow the corporation to access existing customer relationship information when creating new loan applications, as well as submitting closed loan data to its Bankway core system for processing.
"The open architecture of the Bankway solution will allow The Bahamas Mortgage Corporation to effortlessly integrate complementary solutions with minimal impact on daily bank operations and our highly valued customers," said Jerome Godfrey, managing director, The Bahamas Mortgage Corporation. "Metavante helps us meet our short-term and long-term goals of continuous improvement and growth, with a robust solution set that will enable increased efficiencies, helping us to meet those goals."
"Our integration and implementation expertise assures a fluid transition to a solution that supports the corporation's desire to have a streamlined and improved operations process," said Rachel Landrum, president, Metavante Banking Solutions - Bankway. "Our agreement with The Bahamas Mortgage Corporation furthers our commitment to expanding our presence internationally."