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Metavante and TEMENOS Form Strategic Alliance to Launch Advanced Core Banking Platform for United States

Press release

March 14, 2007

Metavante and Temenos form exclusive alliance for TCB in U.S.

Product development aimed at top-tier U.S. financial institutions

Metavante and Temenos take U.S. leadership in next wave of core technology

MILWAUKEE & GENEVA, Switzerland - Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced the signing of a strategic agreement with TEMENOS Group (SWX: TEMN), the international provider of integrated core banking systems, to launch an advanced core banking platform based on TEMENOS™ COREBANKING (TCB) for top-tier U.S. financial institutions.

This innovative initiative combines leading TEMENOS TCB global banking technology with Metavante’s unique depth of banking knowledge and 40 years of experience in developing and deploying technology for the U.S. financial services marketplace. Metavante will be the exclusive provider of the new, advanced TCB-based platform to the United States market and also enjoy a preferential status for providing TCB as an outsourced solution internationally.

Metavante will deliver the new, enhanced TCB-based platform on a component basis, enabling large banks to replace aging solutions on a “line of business,” or phased approach. It will initially be available as a licensed solution designed for tier-one and tier-two financial institutions. In addition, Metavante plans to integrate these advanced capabilities as a series of component upgrades for those large financial institutions already using its core banking platform.

“Metavante is making a significant investment in core banking that, together with our on-going investment in our core business, will provide financial institutions with access to the latest technology and functionality to successfully compete in tomorrow’s banking market,” said Metavante President and Chief Executive Officer Frank Martire. “This platform will be one cornerstone of Metavante’s growth strategy for serving large financial institutions and expanding business internationally.”

“We expect the combination of Metavante’s leading market position, its development and distribution prowess in the U.S. banking software market, and its expertise in outsourcing services, with the product superiority of TCB will prove a formidable combination both in the United States and internationally,” said TEMENOS Chief Executive Officer Andreas Andreades.

TCB is the Temenos’ solution for large-scale retail and commercial banks. TCB is a highly scalable solution for tier-one and tier-two banks, as well as multi-bank outsourcing centers. It is a next-generation platform that delivers core retail processing together with a competitive advantage. TCB runs a number of large-scale banking operations. In Europe, TCB operates in the largest retail bank outsourcing center in Spain, running 74 banks and supporting a branch network of over 4,000 branches in a single processing instance. In Asia, TCB has been used as the core platform for a retail bank processing 17 million accounts.

“Because the TCB solution is platform independent, it can be deployed in COBOL as well as Java in a J2EE environment. This should be attractive to large U.S. banks, which operate with large mainframe environments and are challenged with aging platforms,” said Paul Danola, group president, Metavante Enterprise Solutions. “The new Metavante solution will provide large banks with next-generation technology to support advanced frameworks and standards; platform independence; offer a parameter-based solution built with flexible code generation; and a services-oriented architecture that is both open and able to integrate to other environments,” he added.

Metavante and Temenos will be co-hosting an investor briefing session in New York on 21st March, and in London on the 22nd March. Investors who are interested in attending should contact the respective investor relations officers (see contacts below).

About TEMENOS

Founded in 1993, TEMENOS Group AG is a provider of integrated modular core banking systems to over 580 financial institutions in 110 countries worldwide. TEMENOS software provides banks with a single, real-time view of the client across the enterprise, enabling banks to maximize returns while streamlining costs. Whether providing 24/7 functionality to the wholesale, retail and private or universal banking sectors, partnering with central banks on core system replacement, or working with the World Bank on solutions for the emerging markets, TEMENOS knows banking. The company has a transparent approach to its operations and brings to bear its experience, expertise, commitment and professionalism on every project. Headquartered in Geneva, Switzerland, the company has 39 offices in 31 countries and is listed on the main segment of the SWX Swiss Exchange (TEMN). www.temenos.com

About Metavante

Metavante Corporation delivers banking and payments technologies to over 8,600 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, and business transformation services. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).

Metavante is a registered trademark of Metavante Corporation.

TEMENOS and TEMENOS™ COREBANKING are registered trademarks of TEMENOS Group AG.

Contacts
Metavante Corporation
Chip Swearngan, 414-357-3688

or
TEMENOS
Max Chuard, +41 (0) 22 708 1157
Caroline Guennelon, +41 (0) 22 855 1476

BlogOut provides global outsourcing updates across industries & business functions. See BlogOut Directory for the complete list of categories

Labels: alliances, banks, banks-usa, finance, finance-north-america, finance-usa, it-finance, it-finance-europe, it-finance-usa

Outsourcing Benefits Made Accessible to Mid-Market Lenders

NDS Infoserv & TPG The Performance Group ® Announce BPO solution enabling small and mid-sized companies to slash costs and improve business performance without the typical risks.

February 15, 2007

CONCORD, N.H.--(BUSINESS WIRE)--NDS InfoServ (NDS) a global provider of IT and BPO services has teamed with TPG The Performance Group ® (TPG), a management consulting firm, specialists in the mortgage banking industry, to enable mid-sized mortgage lenders to adopt business process outsourcing (BPO) services that are affordable, rapidly implemented, and proven to enhance competitive advantage.

Read the full press release from here @ Business Wire

BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories

Labels: accounts-payable, banks, finance-usa, mortgages

Resolve Chooses Pegasystems to Improve Customer Service

Press release

20 February 2007

CAMBRIDGE, Mass. - Pegasystems Inc., a company with a focus on unified process and rules technology, today announced that Resolve, a Canadian leader in business process outsourcing (BPO), is using Pegasystems' SmartBPM® Suite to support its loan servicing operations and help drive world class service for its customers.

Resolve licensed Pega’s industry leading business process management (BPM) technology to help integrate many functions of its outsourcing operations, including new account and application processing services, contact center services, receivables management, and claims management.

More from this news release @ CRM Directory

BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories

Labels: customer-support, customer-support-finance, customer-support-usa, finance-usa, it-customer-support, it-finance, loans, loans-usa

AmeriServ, SEI Extend Outsourcing Deal

March 09, 2007

by Global Services

AmeriServ Trust and Financial Services, a U.S.-based trust and investment management products and services provider, has awarded a finance and accounting deal renewal to Pennsylvania-based SEI. SEI will provide outsourcing services including portfolio management, brokerage, custody, retirement benefit payment and portfolio processing services, integrated trading, income processing and reconciliation software platform.

Original report here

BlogOut provides regular, global outsourcing updates for all industries & business functions, in hundreds of categories. See BlogOut Directory for the complete list of categories

Labels: accounting, accounting-usa, finance, finance-usa, financial-portfolio-management, financial-reconciliation, retirement-benefits, trusts, trusts-usa

Fireman’s Fund Adopts Accenture’s Claims Processing Technology

Press release

New York - Fireman's Fund Insurance Company has selected Accenture technology for processing its insurance claims. The newly upgraded technology solution will handle all claims submitted to Fireman’s Fund® under its commercial, personal and specialty lines.

The Accenture Claim Components Solution is a Web-based technology designed to help insurers improve the efficiency of their claims-handling operations through the automation of routine tasks. At Fireman’s Fund, the solution supports core claims transactions from first notification of loss through closure of the claim. It integrates with a full range of claims interfaces.

Fireman's Fund Insurance Company is a premier property and casualty insurance company providing personal, commercial and specialty insurance products nationwide.

Read full press release here from DBusiness News, Feb 07, 2007

Labels: claims-processing, finance, finance-usa, insurance, insurance-usa, it-finance, it-insurance

CSC and Universal Special Auto Finance Sign Outsourcing Deal

February 06, 2007

CSC will provide back-office systems and support for subprime auto lending program

Universal Special Auto Finance (Universal), a capital-management company based in Greenwood Village, Colo., USA, and Computer Sciences Corporation (CSC) have inked a five-year Business Process Outsourcing (BPO) contract.

CSC will provide lending software, accounting support, and collections and related back-office services, and will support the subprime auto lending program’s customers by providing loan-processing services and software.

Labels: finance, finance-north-america, finance-usa, it-finance

Harris, Symcor Ink Outsourcing Contract

March 02, 2007

Symcor has signed a seven-year agreement to provide wholesale lockbox services for the corporate and institutional clients of Harris, and its investment and corporate banking affiliate, BMO Capital Markets.

Symcor will provide BMO Capital Markets and Harris with wholesale lockbox services, including check and document imaging, remittance data entry processing, and reporting services. About 300 Harris employees who perform these services from locations in Chicago, Los Angeles and Atlanta will transition to Symcor on May 1, 2007.

Labels: data-management, data-management-finance, data-management-usa, finance, finance-usa