Fulton Financial Selects Metavante for Check Imaging and Branch Capture
4/13/2009
MILWAUKEE, April 13, 2009 – Metavante (NYSE:MV), a leading
provider of banking and payments technology, today announced that Fulton
Financial Corporation, a $16.2 billion regional financial holding company
headquartered in Lancaster, Pa., has selected Metavante Corporation’s Direct
Branch™ and VisionIP™ as its new enterprise-wide check imaging and item
processing solution.
Metavante and Fulton Financial developed a strategic plan to transition from
its existing check processing solution to an image-enabled platform that
delivers new value-added services such as Direct Branch, a branch capture
solution that enables the bank to image-capture branch work and deposits,
transmitting data and images to a centralized aggregation server. Data
perfection and transaction balancing services can be performed on site at branch
locations or as a centralized process. As a result, courier runs are
significantly reduced, saving the bank both time and money. In addition to the
deployment of Direct Branch and VisionIP, Fulton Financial is using several
other Metavante products and services, including card personalization, risk and
compliance, and wealth management.
“Metavante’s Direct Branch and VisionIP solutions provided cost savings,
making it affordable for us to replace our existing check imaging system with a
new, advanced solution that will integrate seamlessly into our environment,”
said Charlotte Anderson, senior vice president, Fulton Financial. “VisionIP is a
scalable solution that supports both our current and future processing volumes
while giving us the flexibility to expand our system and add new applications as
future needs arise. With the Direct Branch solution, we can extend the
end-of-day branch cut-off time for our customers and our same-day processing
window, because less time is required to prepare our outgoing cash letters.
Metavante managed its implementation process very effectively, providing for
a smooth conversion.”
Metavante’s VisionIP solution, a Windows® operating system based application,
supports Check 21 features using an integrated platform to process multiple
transaction sources including distributed capture, remote capture,
proof-of-deposit and electronic image-based inclearings. Additionally, the
solution provides for management of x9.37 files, image cash letter endpoints and
image quality assurance.
“Metavante continues to solidify and strengthen its position in the image
item processing industry. Even as paper check volumes continue to decline,
Metavante continues to realize growth and increase market share,” said Paul
Danola, president, Metavante Image Solutions. “The image processing technology
and strategic interfaces built into the VisionIP solution provide Fulton
Financial with the tools to efficiently handle volumes of payments in a variety
of traditional and emerging payment formats.”
Metavante’s image solutions provide comprehensive solutions that help banks
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, and
document and report management. Customers encompass banks and corporations of
all sizes worldwide from de novo banks to the largest financial institutions and
corporations.
About Fulton Financial Corporation
Fulton is a Lancaster,
Pennsylvania based $16.2 billion financial holding company operating 268
branches in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through 10
affiliate banks. Additional information on Fulton Financial Corporation is
available on the Internet at www.fult.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, NYCE and Direct are registered trademarks of Metavante
Corporation, which is the principal subsidiary of Metavante
Technologies,
Inc.
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