Mercantile Bankshares Corporation Chooses iLINK, BANKLINK's Cash Management Solution for Businesses.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 5, 2003 Consolidation of cash management products onto a single platform enables bank to maximize revenue and eliminate channel conflict BANKLINK, a unit of Fiserv, Inc. (Nasdaq: FISV FISV Fiserv, Inc (stock symbol) ) and a leading provider of Web-based treasury management products and services, announced today that Baltimore-based Mercantile Relating to trade or commerce; commercial; having to do with the business of buying and selling; relating to merchants. A mercantile agency is an individual or company in the business of collecting data about the financial status, ability, and credit of individuals Bankshares Corporation has selected BANKLINK as its cash management solution provider for its small business clients. BANKLINK is currently the provider of Mercantile's cash management solution for its middle-market and large corporate clients. The Mercantile decision came down to a common issue in today's small business cash management space: deliver a low-cost, "retail-like" product to its small business customers or select a more robust, more expensive, traditional corporate cash management solution. Mercantile chose the latter, believing that it offered more value to small- business customers who need more than a "dressed-up" retail solution, however inexpensively presented that solution may be. "In addition to clearly differentiating our cash management offering from our retail online product, the deployment of BANKLINK's solution enables us to increase cash management revenue, eliminate channel conflict across our regions and market segments, and centralize cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. control of our systems," said R. Dennis Corbin, Senior Vice President at Mercantile. "BANKLINK utilized the modular architecture and 'product building' capabilities of iLINK to develop tailored product packages, creating additional revenue opportunities within their small business offering," said Paul A. Frank, BANKLINK's President. "In addition, BANKLINK's single-platform solution, delivered to the company's entire business/commercial account base, provides small business customers with a very clear growth path for future products and represents significant additional revenue opportunities for BANKLINK over the next five years." Mercantile will quickly migrate a majority of its small business customers onto the iLINK platform, which it will rename Re`name´ v. t. 1. To give a new name to. Verb 1. rename - assign a new name to; "Many streets in the former East Germany were renamed in 1990" and brand bizAccess. Mercantile Bankshares Corporation, with more than $13 billion in assets, is a regional multibank holiding company with headquarters in Baltimore, Maryland "Baltimore" redirects here. For the surrounding county, see Baltimore County, Maryland. For other uses, see Baltimore (disambiguation). Baltimore is an independent city located in the state of Maryland in the United States. . It is comprised of 21 community banks. Seventeen banks are located in Maryland, three are in Virginia and one is in southern Delaware. The largest bank, Mercantile-Safe Deposit and Trust Company, represents about 40% of total assets and has 23 offices in Maryland and one full commercial office in Pennsylvania. More information on BANKLINK BANKLINK, on the Web at www.BANKLINK.com, leads with customer-focused treasury management solutions through experience and vision. Established in 1977 as a full-service electronic banking company, today BANKLINK provides product and service solutions to over 130 financial institutions worldwide to meet the needs of 20,000 treasury management customers. The BANKLINK portfolio of information reporting and transaction initiation services features iLINK(TM), bizLINK(TM), the exchangeLINK(SM) suite of account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. and sweep services, BANKLINK SERIES 2000(TM) and BANKLINK MoneyWorks(TM). BANKLINK is located in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York and is a unit of Fiserv. Fiserv, Inc. (Nasdaq: FISV) provides industry leading information management systems and services to the financial industry, including transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. , outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. , business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in and software and systems solutions. The company serves more than 14,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin
Brookfield is a city in Waukesha County, Wisconsin, United States. The population was 38,649 at the 2000 census, but the city's population recently exceeded 40,000 people. , Fiserv reported $2.3 billion in processing and services revenues for 2002. Fiserv can be found on the Internet at www.fiserv.com. |
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