Corus Bank Aligns with Metavante for Comprehensive Banking and Technology Solutions
19 March 2007 - 11:00PM
Business Wire
Metavante Corporation, the banking and payments technology
subsidiary of Marshall & Ilsley Corporation (NYSE: 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, Inc., has elected the Metavante
Integrated Banking Solution (IBS) to include customer relationship
management, data warehouse and electronic funds transfer and card
services. 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, 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. 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 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 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 Global Select Market tier
of The NASDAQ Stock Market under the symbol: CORS. 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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