Corus Bank Aligns with Metavante for Comprehensive Banking and Technology Solutions.$10 billion bank returns to Metavante for enterprise-wide bank technology needs MILWAUKEE -- Metavante Corporation Metavante is a company that provides financial technology services and software to its customers, consisting primarily of small to large sized financial institutions. The $1.5 billion organization is headquartered in Milwaukee, Wisconsin and employs over 5,600 employees in 35 U.S. , the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE NYSE See: New York Stock Exchange : MI), today announced that Chicago-based Corus Bank, N.A. has entered into an extensive agreement with Metavante for fully outsourced core processing services. Corus Bank, N.A., the wholly owned banking subsidiary of Corus Bankshares Corus Bankshares, Inc. operates as the holding company for Corus Bank, N.A. that offers consumer and corporate banking products and services. The bank's deposit products include checking, savings, money market, and time deposit accounts. , Inc., has elected the Metavante Integrated Banking Solution (IBS IBS Irritable bowel syndrome, see there ) to include customer relationship management, data warehouse and electronic funds transfer See EFT. (application, communications) electronic funds transfer - (EFT, EFTS, - system) Transfer of money initiated through electronic terminal, automated teller machine, computer, telephone, or magnetic tape. and card services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. . In addition, Corus Bank will be deploying Metavante's integrated electronic banking and bill payment solution to enhance its customers' online banking capabilities, such as receiving, viewing, paying and organizing bills and statements electronically. "After careful due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , we have determined that Metavante is the best core processing partner for Corus Bank to work with going forward. We believe Metavante's complete product offerings and dedicated management team will provide our company with the resources it needs to serve our customers and profitably grow our business," said Robert J. Glickman, president and chief executive officer, Corus Bank, N.A. From 1998 to 2004, Metavante provided Corus Bank with a suite of products and services for its 11 bank branches located in the Chicago metropolitan area “Chicagoland” redirects here. For for the racing venue, see Chicagoland Speedway. The Chicago metropolitan area is the metropolitan area associated with the city of Chicago in the United States. . Continued Glickman, "The scalability of Metavante's banking solutions also played a big role in our decision to return to Metavante's Integrated Banking Solution. We've experienced significant growth over the years and needed a core processing system that can support our data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a needs for the future." Through its multiple-service relationship, Corus Bank is also leveraging a broad set of products from Metavante's Image Solutions. DirectMerchant, Metavante's distributed image capture solution, allows Corus Bank's business and commercial customers the convenience of performing electronic check deposits directly to the bank. Corus Bank is also benefiting from Metavante's VisionIP: Check 21. Additionally, Corus Bank has implemented both Positive Pay and Internet Positive Pay to enhance check fraud detection for the bank's treasury and cash management clients. "The breadth and comprehensiveness of our products, allows Metavante to be a one-stop shop One-Stop Shop A company or a location that offers a multitude of services to a client or a customer. The idea is to provide convenient and efficient service and also to create the opportunity for the company to sell more products to clients and customers. for Corus Bank's banking needs," said Frank R. Martire, president and chief executive officer, Metavante Corporation. "With the broad range of banking and payments solutions we offer today, we're a different company than we were three years ago. As a strategic provider to clients like Corus Bank; we focus on the needs of every client so they can successfully achieve their goals." Metavante Banking Solutions offers one of the most comprehensive sets of integrated products and services for financial service providers that are centered on core customer and account management, specializing in deposit, loan and trust accounts. Metavante also provides its clients flexibility in choosing either a licensed, in-house or an outsourced solution. The Metavante Banking Solutions include core account processing, fully integrated delivery channels, business and marketing analytics, electronic banking, integrated payments, image, risk and compliance solutions, along with business and technology consulting. Metavante Banking Solutions serve over 1,500 financial services providers, ranging from community banks to the top 50 U.S. banks. About Corus Bankshares, Inc. Corus Bankshares, Inc. is a bank holding company headquartered in Chicago, Illinois. Corus conducts its banking operations through its wholly-owned banking subsidiary Corus Bank, N.A. (the "Bank"). The Bank is an active commercial real estate lender nationwide, specializing in condominium, hotel, office and apartment loans. As of the most recent period-end, Corus' outstanding commercial real estate loans and construction commitments totaled $8.4 billion. Corus Bank and its holding company, Corus Bankshares, will together hold loans of up to $200 million and will seek to syndicate larger transactions. Corus' common stock trades on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Global Select Market tier of The NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol: CORS CORS Continuously Operating Reference Stations (NOAA) CORS Corners (street type) CORS Continuously Operating Reference Station CORS Canadian Operational Research Society . About Metavante Metavante Corporation delivers banking and payments technologies to over 8,600 financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, consumer healthcare payments, electronic presentment and payment, and business transformation services. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE:MI). Metavante is a registered trademark of Metavante Corporation. |
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