Published: March 06, 2006
INTRUST Bank Chooses Metavante Investment Technology Services and Marshall & Ilsley Trust Company
Deal Caps off Metavante's Key 2005 Contract Wins and Renewals for Investment Technology Services
Metavante Corporation, the financial
technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today
announced that INTRUST Bank has expanded its relationship with Metavante to
include investment and trust technology and full trust operations
outsourcing through Marshall & Ilsley Trust Company N.A. (M&I Trust). This
new contract adds to Metavante's 2005 Investment Technology Solutions'
success, which included winning nine new clients and renewing 19 contracts.
Headquartered in Wichita, Kan., INTRUST Bank is a leading financial
institution with $2.8 billion trust assets under management.
According to the agreement, Metavante will provide INTRUST with full trust
operations outsourcing services through M&I Trust, which will assume
responsibility for INTRUST Bank's back-office operations using Metavante's
TrustDesk technology. INTRUST will install the Metavante TrustDesk
workstation to streamline its daily procedures and gain a greater ability
to drive internal efficiencies.
"Our business model calls for the outsourcing of trust technology and
operations and we depend upon our provider to work closely with us and
address our needs quickly if we're going to continue to grow and compete
effectively in the expanding wealth management market," said Rodney D.
Pitts, executive vice president and manager, INTRUST Bank Private Wealth
Management. "Throughout our relationship, Metavante has delivered flexible
and innovative solutions to help us improve our operating productivity and
foster better client relationships. Extending this relationship even
further through our latest trust processing agreement with M&I Trust will
allow us to concentrate on building client relationships, product
advancement, as well as new business development."
Since 1995, Metavante has been providing INTRUST with a comprehensive suite
of banking and payment technology services, including financial account
processing, electronic banking, electronic presentment and payment,
electronic funds transfer and card, and customer relationship management
tools.
"The competitive win of INTRUST, along with our overall success in 2005 is
a firm affirmation by the marketplace of Metavante's and M&I Trust's
ability deliver a wide range of trust services for any size financial
institution. Metavante's technology and expertise is providing the answer
to complex operating challenges to meet each client's distinct service
requirements," said Douglas Smith, senior vice president and general
manager, Metavante Investment Technology Services. "INTRUST has long been
an industry innovator in business management and the development of new
wealth management capabilities. Our technology will be at the backbone of
INTRUST's process and our TrustDesk solution will help INTRUST deliver
superior customer service at the advisor level."
Metavante Investment Technology Solutions offers a set of Internet-enabled
products and services to more than 200 financial services providers that
address the specific needs of the rapidly growing wealthy, affluent, and
emerging affluent markets as well as commercial clients. These solutions
address asset and liability aggregation, trust and investment account
management, and client and regulatory reporting.
About INTRUST Bank
Established in 1876, INTRUST has grown to become one of the leading
financial institutions in the Midwest with assets of $3 billion. With more
than 40 branches in Kansas and Oklahoma, INTRUST is committed to providing
exceptional service, quality products and cutting-edge technology. INTRUST
Financial Corporation, its parent company, is the largest independent bank
holding company headquartered in Kansas.
About Metavante
Metavante Corporation is redefining banking and payments 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
health care payments, and electronic presentment and payment. Headquartered
in Milwaukee, Metavante () is wholly owned by Marshall &
Ilsley Corporation (NYSE: MI).
About Marshall & Ilsley Trust Company N.A.
Marshall & Ilsley Trust Company N.A., (M&I Trust) is an affiliate of
Marshall & Ilsley Corporation (NYSE: MI), a diversified financial services
corporation headquartered in Milwaukee, Wis., with $46.2 billion in assets.
Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based
bank. M&I Bank has 194 offices throughout the state, in addition to 42
locations throughout Arizona; 13 offices in metropolitan Minneapolis/St.
Paul, Minn.; and, locations in Duluth, Minn.; Las Vegas, Nev.; and, Naples
and Bonita Springs, Fla. M&I's Southwest Bank affiliate has seven offices
in the St. Louis area and one office in Belleville, Ill. Metavante
Corporation, Marshall & Ilsley Corporation's wholly owned technology
subsidiary, provides virtually all of the technology an organization needs
to offer financial services. M&I also provides trust and investment
management, equipment leasing, mortgage banking, asset-based lending,
financial planning, investments, and insurance services from offices
throughout the country and on the Internet (www.mibank.com or
www.micorp.com). M&I's customer-based approach, internal growth, and
strategic acquisitions have made M&I a nationally recognized leader in the
financial services industry.
The following marks are intellectual property of Metavante Corporation:
Metavante and TrustDesk.
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