Digital Insight and Metavante Enter New Strategic Alliance Through 2010
June 09 2005 - 4:18PM
PR Newswire (US)
Digital Insight and Metavante Enter New Strategic Alliance Through
2010 Companies Leverage Core Competencies, Distribution Channels to
Benefit Clients CALABASAS, Calif., June 9 /PRNewswire-FirstCall/ --
Digital Insight Corp. (NASDAQ:DGIN)
(http://www.digitalinsight.com/), the leading online banking
provider, and Metavante Corp. (http://www.metavante.com/), the
financial technology subsidiary of Marshall & Ilsley
Corporation (NYSE:MI), announced today a new long-term agreement
running through 2010 which extends and expands the strategic
partnership between the two companies. Metavante will be a
strategic provider of Electronic Presentment and Payment products
to Digital Insight. Under terms of the new agreement, Digital
Insight and Metavante will partner to develop new product
interfaces to promote improved implementations and greater
functionality between the companies' products. The agreement also
expands the companies' partner marketing initiatives to promote
increased adoption and usage of Metavante's bill presentment and
payment products among Digital Insight's clients. "Our new
agreement with Metavante will result in great benefits for our
clients and materially improved business results for us. Among
other things, this agreement will lock in market-leading pricing
for our clients and allow us to influence product development
decisions for their benefit," said Digital Insight Chairman,
President and CEO Jeff Stiefler. "We made the decision to deepen
our relationship with Metavante based on the trust and confidence
we have in Metavante's leadership, the positive working
relationship we have built together, and the broad portfolio of
products and services Metavante has developed which will directly
support our strategy of arming our clients with the full set of
capabilities they need to compete and win." Digital Insight has
committed to delivering significantly increased levels of bill
payment and bill presentment transactions relative to the prior
contractual minimums, which will trigger volume discounts for
Digital Insight throughout the five-year term. Digital Insight
integrates electronic bill payment and bill presentment services
within its consumer Internet banking platform. Bundling online bill
payment and presentment within the online banking channel delivers
a seamless, secure user experience while also maintaining a
financial institution's brand, image and compliance standards.
"Together with Digital Insight, we create a customer value
proposition in the marketplace that is second-to-none," said Frank
D' Angelo, president and chief operating officer, Metavante Payment
Solutions Group. "By combining the best in online banking with the
best in online bill payment, our joint customers will gain the
competitive advantage they need to win and stay ahead of
competitors long-term." About Metavante Metavante Corporation
delivers banking and payment technologies to 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, and electronic presentment and payment. Headquartered in
Milwaukee, Metavante (http://www.metavante.com/) is wholly owned by
Marshall & Ilsley Corporation (NYSE:MI). About Digital Insight
Digital Insight(R) Corporation is the leading online banking
provider for financial institutions. Through its comprehensive
portfolio of Internet-based financial products and services built
upon the company's unique architecture, Digital Insight enables
banks and credit unions to become the trusted transaction hub for
their retail and commercial customers. Digital Insight offers
consumer and business Internet banking, online lending, electronic
bill payment and presentment, check imaging, account-to-account
transfers, Web site development and hosting and marketing programs
designed to help increase online banking end user growth and more.
Each Digital Insight product and service reinforces the strength of
its financial institution clients. Safe Harbor Statement under the
Private Litigation Reform Act of 1995 This release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including statements
regarding the continued success and future growth potential of the
relationship between Digital Insight and Metavante, and the ability
to promote higher adoption and usage of bill payment and materially
improve business results. Such statements are based on management's
current expectations. Because of various risks and uncertainties,
including unrealized expectations for continued success and growth
of the relationship between Digital Insight and Metavante,
unrealized expectations for higher adoption and usage of bill
payment, pricing changes, and longer than anticipated product and
interface implementation schedules, actual strategies and results
in future periods may differ materially from those currently
expected. Additional discussion of factors affecting these forward
looking statements is contained under the caption "Risk Factors" in
Digital Insight's most recent Annual Report on Form 10-K and
Quarterly Report on Form 10-Q filed with the Securities and
Exchange Commission. Digital Insight undertakes no obligation to
update publicly any forward-looking statements. DATASOURCE: Digital
Insight Corp. CONTACT: Tobin Lee, Corporate Communications,
+1-818-878-6048, , or Erik Randerson, Investor Relations,
+1-818-878-6615, , both of Digital Insight Corporation; or Chip
Swearngan, Investor & Public Relations of Metavante
Corporation, +1-414-357-3688, or Web site:
http://www.metavante.com/ Web site: http://www.digitalinsight.com/
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