M&I Marshall & Ilsley Bank Accepts First Electronic Deposit from Merchant Capture Customer, Brady Corporation
February 07 2005 - 1:00PM
PR Newswire (US)
M&I Marshall & Ilsley Bank Accepts First Electronic Deposit
from Merchant Capture Customer, Brady Corporation MILWAUKEE, Feb. 7
/PRNewswire-FirstCall/ -- M&I Marshall & Ilsley Bank
(M&I) has successfully processed its first electronic deposit
from a merchant capture customer, Brady Corporation. Brady recently
installed M&I's merchant capture service, a distributed capture
solution from Advanced Financial Solutions (AFS), that allows for
check image capture and electronic deposit of remittances. The
merchant capture solution for Brady Corporation includes a small
desktop scanner linked to a PC that is running image capture
software at their location. With the scanner and software, Brady
was able to capture front and back check images, along with MICR
information. The check deposit information was balanced and
verified to confirm that the total amount scanned matched the
expected deposit amount, then submitted electronically to M&I's
processing center for clearing. "M&I has made significant
investments in electronic imaging and clearing, and we are pleased
with the simplicity and speed of this first electronic deposit,"
said Gina A. Peter, senior vice president, M&I Marshall &
Ilsley Bank. "We look forward to working with other corporate
customers who would like to take advantage of the benefits merchant
capture can offer, such as improved collection speeds and an
extended processing window." According to Barbara Bolens, vice
president and treasurer, director of investor relations, Brady
Corporation, "M&I's merchant capture service is intuitive and
easy to use. We were impressed with both the speed of deposit and
the simplicity of the system. Merchant capture should save us many
trips to the bank and help us to streamline our deposit process."
About Brady Corporation Brady (NYSE:BRC) is an international
manufacturer and marketer of identification and materials
solutions, with products including labels, signs, precision die-cut
materials, printing systems, software, and label-application and
data-collection systems for electronics, telecommunications,
manufacturing, electrical, and a variety of other markets. Founded
in 1914, Brady is headquartered in Milwaukee and employs more than
4,000 people in operations in the United States, Europe,
Asia/Pacific, Latin America and Canada. The company had sales of
$671 million in fiscal 2004. More information is available on the
Internet at http://www.bradycorp.com/ . About Advanced Financial
Solutions Founded in 1992, Advanced Financial Solutions, a
Metavante company, has delivered high-quality image based check
processing solutions to the financial services industry. AFS was
one of the first companies to offer image and item processing
technology based on the Microsoft Windows operating platform. All
AFS check imaging solutions are designed from the ground up with
the functionality that banks and remittance processors need for
operating in a high capacity transaction-based environment. Based
in Oklahoma City, AFS became a wholly owned subsidiary of Metavante
Corporation on July 1, 2004. Visit AFS on the Web at
http://www.afsimage.com/ . About M&I Marshall & Ilsley Bank
M&I Marshall & Ilsley Bank is an affiliate of Marshall
& Ilsley Corporation (NYSE:MI), a diversified financial
services corporation headquartered in Milwaukee, Wis., with $40.4
billion in assets. Founded in 1847, M&I Marshall & Ilsley
Bank has the largest banking presence in Wisconsin with 196 offices
throughout the state. In addition, M&I has 34 locations
throughout Arizona; 11 offices in metropolitan Minneapolis/St.
Paul, Minn.; and, locations in Duluth, Minn.; Las Vegas, Nev.; and,
Naples and Bonita Springs, Fla. M&I's Southwest Bank affiliate
has six offices in the St. Louis area and one office in Belleville,
Ill. Metavante Corporation, Marshall & Ilsley Corporation's
wholly owned technology subsidiary, provides virtually all of the
technology an organization needs to offer financial services.
M&I also provides trust and investment management, equipment
leasing, mortgage banking, asset-based lending, financial planning,
investments, and insurance services from offices throughout the
country and on the Internet ( http://www.mibank.com/ or
http://www.micorp.com/ ). M&I's customer-based approach,
internal growth, and strategic acquisitions have made M&I a
nationally recognized leader in the financial services industry.
DATASOURCE: M&I Marshall & Ilsley Bank CONTACT: Patty
Cadorin, Vice President, Corporate Communications Director of
M&I Marshall & Ilsley Bank, +1-414-765-7814 Web site:
http://www.micorp.com/ http://www.mibank.com/
http://www.afsimage.com/ http://www.bradycorp.com/
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