10 Aug Metavante completes TREEV acquisition
MILWAUKEE – Metavante Corp, the financial technology subsidiary of Marshall & Ilsley Corp., has completed its acquisition, announced in June, of Herndon, Va.-based TREEV, LLC, a provider of software solutions and consulting services to the financial industry. The company delivers browser-based document and report management software in both lending and deposit environments. TREEV will become a subsidiary of Advanced Financial Solutions (AFS), a Metavante company.
“The acquisition of TREEV fulfills another element of Metavante’s imaging and payments strategy and complements our existing imaging solutions,” said Frank R. Martire, Metavante president and chief executive officer. “TREEV will complement Metavante’s long-term check imaging strategy by providing solutions for document storage and retrieval, including electronic report storage.”
TREEV’s customer base already includes a number of Metavante clients, including clients of Kirchman Corp. and Advanced Financial Solutions, Martire said.