Park Bank extends Metavante contract

Source: Metavante

Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that Park Bank has renewed its core banking technology contract with Metavante Corporation through a multi-services agreement.

Established in 1915, Park Bank is an independently owned and operated community bank serving businesses and individuals in southeastern Wisconsin.

An outsourced core processing client since 1984, Park Bank will continue to deploy Metavante's Integrated Banking Services (IBS) platform. The bank is using a full suite of Metavante banking and payments solutions, including: electronic banking, customer relationship management, imaging services, card processing, risk and compliance, card personalization, electronic payments, telephone banking, merchant processing, commercial treasury and participation in the NYCE Network.

As part of the agreement, the bank is also implementing Metavante's SendPoint Branch solution to execute its Check 21 imaging strategy and streamline workflow for check image capture, transaction balancing and clearing at each Park Bank location. By image-capturing check transactions at the point of presentment and outsourcing the daily management of branch item capture operations to Metavante's secure data centers, SendPoint Branch enables Park Bank to eliminate the costly and labor-intensive in-house handling of branch items.

"Our recent deployment of Metavante's branch capture technology automates our item-processing functions to increase productivity and lower operating costs while further enabling us to maintain our strong focus on personalized, relationship-banking," said Robert Makowski, senior vice president and chief financial officer, Park Bank. "Park Bank's success over the past 90 years is a result of building lasting partnerships. Throughout our long-standing relationship, Metavante has consistently provided us with integrated solutions that enable us to best serve the needs and meet the goals of our customers."

Park Bank is also deploying Metavante's RemitPoint solution, allowing the bank to rapidly offer a robust remittance processing service that efficiently processes both wholesale and retail lockbox transactions for its customers. A hosted service for image-based remittance processing, the RemitPoint solution enables the bank to outsource its daily operations, while still controlling the strategic direction of its account receivable and image lockbox offerings.

"Our combination of integrated banking and payments technology, processes and people help sustain Park Bank as they continue to grow, improve their efficiency and increase their profitability," said Jamie Geschke, president, Metavante Banking Solutions. "Much more than a vendor, Metavante is a strategic provider that works closely with our valued clients to ensure our technology is properly tailored to fit each financial institution's unique requirements."

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