Bank of Marin Automates Payment Processing, Adopts Metavante Outsourced Receivables Solution
5/4/2009
MILWAUKEE, May 4, 2009 – Metavante (NYSE:MV), a leading
provider of banking and payments technology, today announced that Bank of Marin
Bancorp (Nasdaq:BMRC) has deployed Metavante Corporation’s hosted solution for
advanced wholesale and retail receivables management. Established in 1990, Bank
of Marin is headquartered in Novato, Calif. and offers deposit, lending and
wealth management services.
The implementation of Metavante’s RemitPoint™ solution provides Bank of Marin
with a centralized image-based remittance processing service. The solution
allows the bank to remain in control of the strategic aspects of its image
lockbox offering, while outsourcing back-end operations and transaction
processing. Managed in a secure data center, the RemitPoint solution provides
the bank with keying, image transmission and web output services, allowing the
bank to actively market new lockbox services to its corporate customer base. As
a result, Metavante will support the bank in increasing new revenue potential
and transaction value, as well as measurably reducing operating costs and
improving operational efficiency.
“Bank of Marin has a long-standing reputation of strength and stability in
the industry, and throughout our 18-year relationship, Metavante has
consistently proven that they share these attributes,” said Michael Besselievre,
executive vice president and chief information officer, Bank of Marin. “In the
search for a remittance solution that best fit our needs, Metavante offered an
industry-leading platform on a hosted basis—providing us with the best
combination of control over the product and a workable business case.”
A Metavante client since 1991, the bank uses a number of products and
services powered by Metavante technology, including: core processing, customer
relationship management, ATM support, electronic banking, card processing, card
personalization, loan processing, wealth management, risk and compliance,
electronic payments, electronic funds transfer, merchant processing and
participation in the NYCE Payments Network.
"Many financial institutions are looking to grow their receivables lockbox
business, but are constrained due to costly and labor-intensive operations.
Backed by years of experience in delivering reliable transaction processing
services in mission-critical environments, RemitPoint enables institutions like
Bank of Marin to improve their competitive position by leveraging the efficiency
of a lockbox solution built on a proven platform that processed 337 million
transactions in 2008," said Paul Danola, president, Metavante Image
Solutions.
Metavante’s image solutions provide comprehensive solutions that help
institutions and businesses transition from paper to electronic payments and
image processing. Solutions that can be delivered in-house or outsourced include
distributed capture, check and remittance processing, fraud detection, as well
as document and report management. Customers encompass organizations of all
sizes from start-up organizations to the world’s largest financial institutions
and corporations.
About Bank of Marin Bancorp
Bancorp’s assets exceeded $1
billion as of December 31, 2008. Bank of Marin, as the sole subsidiary of
Bancorp, operates twelve branch offices in California and a commercial loan
production office in San Francisco. The Bank’s Administrative offices are
located in Novato, California and its Wealth Management Services are located in
Corte Madera, Novato and Petaluma, California. Bank of Marin has received a
superior five-star rating from Bauer Financial for 39 consecutive quarters, and
been named to the Bauer Financial recommended list for 68 quarters ( www.bauerfinancial.com). For more
information, visit Bank of Marin at www.bankofmarin.com.
About Metavante.
Metavante Technologies, Inc. (NYSE:MV)
is the parent company of Metavante Corporation. Metavante Corporation delivers
banking and payments technologies to approximately 8,000 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, outsourcing, and payment network solutions
including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in
Milwaukee.
Metavante and NYCE are registered trademarks, and RemitPoint is a
trademark of Metavante Corporation, which is the principal subsidiary of
Metavante Technologies, Inc.
###