Metavante Forms Commercial Treasury Solutions BusinessGary Kasik, President, Metavante Commercial Treasury Solutions (Photo: Bu
July 18 2006 - 7:30AM
Business Wire
Gary Kasik named president of new Metavante Commercial Treasury
Solutions Metavante Corporation, the banking and payments
technology subsidiary of Marshall & Ilsley Corporation
(NYSE:MI), today announced the formation of its Metavante
Commercial Treasury Solutions division. The new unit will
incorporate existing Metavante offerings in support of cash
management, account information access, payables and receivables
management and other services for commercial clients of Metavante
customers. Metavante also announced that Gary Kasik will join the
company to serve as president of Metavante Commercial Treasury
Solutions. He brings over 28 years of experience in a wide range of
financial services and technology. A veteran of several Fiserv
businesses since 1991, Mr. Kasik most recently served as president
of Fiserv BANKLINK, an outsourced cash management solution for
financial institutions across all asset tiers. Prior to joining
Fiserv through an acquisition in 1991, Kasik was with Citicorp
Information Resources where he held various management positions
with the banking technology unit of Citicorp. In addition to the
products organized within it, Metavante Commercial Treasury
Solutions will also use other Metavante solutions that provide
payment, card-based and other merchant-driven services. Upon
completion of the recently announced VICOR, Inc. acquisition, the
business will become part of the new Metavante Commercial Treasury
Solutions providing support for complex payment requirements. "By
creating a commercial treasury solutions division at Metavante and
appointing a president to lead it, we are responding to our
clients' requests for additional commercial offerings," said Paul
T. Danola, president, Metavante Financial Solutions Group.
"Previously, we have addressed our commercial solutions through our
banking technology businesses. Now, with the new division we will
organize certain products and solutions within it, and we will draw
on products within other Metavante divisions, including payments,
to provide a full end-to-end solution suite to our clients."
Metavante Commercial Treasury Solutions provide the technology and
related outsourcing services to allow commercial clients to manage
their cash and investments, as well as certain income statement
items. Metavante's systems provide full accounting and
reconciliation for such transactions, serving as the system of
record and providing full regulatory compliance, risk assessment
and fraud management tools. Metavante helps 18 of the top 25
commercial banks in the United States meet the financial services
and payment processing needs of thousands of large corporations,
middle market commercial firms and small businesses. Metavante's
comprehensive set of services addresses the financial service needs
companies face in dealing with their corporate and retail
customers, employees and commercial vendors and suppliers. About
Metavante Metavante Corporation delivers banking and payments
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, consumer healthcare
payments, and electronic presentment and payment. Headquartered in
Milwaukee, Metavante (www.metavante.com) is wholly owned by
Marshall & Ilsley Corporation (NYSE:MI). Metavante is a
registered trademark of Metavante Corporation and VICOR is the
registered trademark of VICOR, Inc.
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