26 Aug Metavante extends commitment to credit unions through alliance with Connect
Milwaukee, Wis. – Metavante Corp., a leading provider of banking and payments technology, today announced an alliance between Metavante and Connect Software Solutions, LLC, an online banking provider for credit unions. Together, Metavante’s bill presentment and payment solutions and Connect’s online banking platform will yield a fully integrated online banking and bill pay product that will be delivered to the credit union market by Connect.
As part of its reseller alliance with Metavante, Connect’s online banking application can now deliver all the functionality of Metavante’s Bill Payment Manager, a solution that allows credit unions to quickly and cost-effectively deliver bill presentment and payment capabilities. Additionally, Connect has fully integrated Metavante’s Expedited Payments solution. As a result, credit unions deploying Connect’s online banking product can enable members to send payments — either same-day electronic or overnight-check — to virtually all billers. Whether a credit union member chooses to initiate a traditional online bill payment, view an eBill or make an expedited payment, Metavante’s tight integration into Connect’s online banking architecture ensures members will experience the familiar look and feel of their trusted credit union’s eBanking Web site.
“Metavante’s `chameleon’ feature enables bill pay to visually integrate into the online banking channel, supporting the kind of member-centric online banking experience that Connect provides to credit unions,” said Chuck McCluer, president, Connect Financial Software Solutions. “The integration between Connect’s online banking platform and Metavante’s suite of eBill and bill pay solutions is tight and unique and speaks to Metavante’s ability to be a preferred provider in the credit union marketplace.”
Nevada Federal Credit Union, which utilizes the Connect online banking and Metavante bill presentment and payment solutions, helped test and fine-tune the integrated services now available to all credit unions. For Nevada Federal Credit Union, the related value has been compelling bill pay transaction growth rates in the numbers of “total transactions” and “members actively using bill pay” during 2006 and 2007. During that period, both bill pay transaction growth and active use of bill pay grew annually at double-digit rates. Interested in further increasing member use of online bill pay, Nevada Federal Credit Union has agreed to engage Metavante Growth and Retention Services for assistance with an adoption marketing campaign to launch later in 2008.
“Metavante already has a significant presence in the credit union space, and with Connect’s integration to Metavante, we now gain additional opportunity with credit unions, and this helps validate Metavante’s established status as an industry-leading provider of solutions to handle the complete life cycle of a bill,” said Jeff Lewis, division president, Metavante ePayment Solutions. “From the seamless visual integration of Metavante bill pay into Connect online banking and the branding opportunity it provides, to the revenue-generating opportunities around expedited payments, to an eBill functionality that can automate member enrollment, Metavante delivers the products, features and functionality that can add significant value to credit unions.”
Metavante Payment Solutions delivers electronic money movement through an integrated payments network, including an ATM/PIN-debit network in NYCE, mobile banking and payments, online bill pay, healthcare payment solutions, a suite of payment cards and automated clearing house (ACH) processing. Metavante can help clients grow revenue by capitalizing on the expanding electronic payments markets, including financial, healthcare and government payments. Metavante offers clients the efficient and integrated resources necessary to offer their customers a broad range of payment options and touch points.
Based in Las Vegas, Connect Financial Software Solutions provides online banking solutions and other technologies specifically for credit unions. Established by Nevada Federal Union in 2007 as a Credit Union Service Organization (CUSO), Connect provides pre-built Internet banking applications but can customize solutions to fit the precise needs of individual credit unions of all sizes. For more information, visit www.connectfss.com.
Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,000 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, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in Milwaukee.