Metavante Grows Item Processing Technology Relationship With Citizens Republic Bancorp
3/4/2009
MILWAUKEE, March 4, 2009 – Metavante (NYSE:MV), a leading
provider of banking and payments technology, today announced that Citizens
Republic Bancorp (Nasdaq:CRBC) has implemented Metavante Corporation’s
SendPoint® Branch™ branch capture solution. With total assets of $13.1 billion,
Citizens Republic Bancorp is one of the largest bank holding companies
headquartered in the Midwest with 233 branch offices located throughout
Michigan, Ohio, Iowa and Wisconsin.
Citizens Republic Bancorp’s adoption of the SendPoint Branch solution will
extend its Check 21 imaging strategy to branch locations by truncating on-us
items and facilitating the electronic presentment of transit items. The
deployment of SendPoint Branch, coupled with the recent implementation of the
SendPoint® Merchant™ solution, allowed the bank to further realize the cost
savings and product advancements of check imaging technology. The SendPoint
Branch solution connects with Metavante’s check imaging system and requires no
integration to the existing teller system. As a result, Citizens Republic
Bancorp benefits from increased teller efficiency, diminished courier expenses
and the elimination of costs associated with the processing of paper checks.
Citizens Republic Bancorp also selected NYCE as its primary network for ATM
and retail PIN debit access, contributing 265 ATMs to the NYCE Payments Network.
Additionally, Metavante provides several other products and services to Citizens
Republic Bancorp, including: core processing, electronic payments, customer
relationship management, electronic banking, card processing, electronic funds
transfer and card personalization.
“SendPoint Branch was an alternative that provided us with several financial
and operational benefits,” said Jerry Bettens, senior vice president and chief
information officer, Citizens Republic Bancorp. “More importantly, while check
volumes are declining at more than 4 percent per year on a nationwide basis, the
costs to clear checks through traditional channels are continuing to rise.
Metavante’s branch capture solution has helped us defray these rising clearing
costs.”
“The financial services market remains in transition and institutions like
Citizens Republic Bancorp expect concrete ways to reduce costs, speed up
time-consuming processes and gain greater results through existing technology
infrastructure,” said Paul Danola, president, Metavante Image Solutions.
“Metavante’s item processing services eliminate capital expenditures required
for hardware and software, and support quick and efficient clearing and
settlement.”
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, and 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 Citizens Republic
Bancorp
Citizens Republic Bancorp is a diversified financial
services company providing a wide range of commercial, consumer, mortgage
banking, trust and financial planning services to a broad client base. Citizens
Republic Bancorp serves communities in Michigan, Wisconsin, and Ohio as Citizens
Bank and in Iowa as F&M Bank, with several hundred offices and ATMs.
Citizens Republic Bancorp is the largest bank holding company headquartered in
Michigan with roots dating back to 1871. Citizens Republic is one of the 50
largest bank holding companies headquartered in the United States with over $13
billion in assets.
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 SendPoint are registered trademarks of Metavante
Corporation, which is the principal subsidiary of Metavante Technologies, Inc.