ASTORIA FEDERAL EXPANDS METAVANTE RELATIONSHIP THROUGH BRANCH IMAGE CAPTURE
MILWAUKEE, Sept. 16, 2009 (AllPayNews.com) – Metavante (NYSE:MV), a leading provider of banking and payments technology, today announced that Astoria Federal Savings has expanded its relationship with Metavante Corporation to include branch image capture technology. With assets exceeding $21 billion, Astoria Federal is a subsidiary of Astoria Financial Corporation and has been a Metavante client since 1993.
Astoria Federal has begun implementation of Metavante’s branch image capture solution, SendPoint Branch, at its 85 branch locations throughout N.Y., allowing the bank to image capture, truncate and balance checks at each branch. Streamlining the bank’s check processing operations, the Metavante solution supports extended cut-off times, reduced transportation costs and greater availability of funds due to an expedited check clearing process.
“The adoption of branch image capture technology offers us operational efficiencies, and also allows us to better service our customers,” said Monte N. Redman, president and chief operating officer, Astoria Federal Savings. “Metavante has proven itself as a technology provider, and its SendPoint Branch solution enables us to meet the image-based requirements of the Check 21 Act.”
“Metavante brings more than 40 years of experience in designing, developing and implementing check processing and imaging solutions, and continues to be an industry leader in transitioning financial institutions to new electronic check processing solutions,” said Frank D’Angelo, president, Metavante Payment Solutions Group. “Bridging the gap between new payments technology and manageable costs, SendPoint Branch allows Astoria Federal Savings to offer its customers innovative check imaging services, while outsourcing the complexity of managing operations to a trusted technology services provider.”
This most recent contract with Astoria Federal Savings marks an expansion of the bank’s extensive relationship with Metavante, which includes the following banking and payments products and services: core processing, electronic banking, image, customer relationship management, card processing, ATM driving, card personalization, risk management and compliance, electronic payments and participation in the NYCE Network.
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, 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 Astoria Federal Savings
Astoria Financial Corporation, with assets of $21.1 billion, is the holding company for Astoria Federal Savings and Loan Association. Established in 1888, Astoria Federal, with deposits in New York totaling $13.6 billion, is the largest thrift depository headquartered in New York and embraces its philosophy of "Putting people first" by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels, including its enhanced website, www.astoriafederal.com. Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states. Astoria Federal originates mortgage loans through its banking and loan production offices in New York, an extensive broker network covering sixteen states, primarily along the East Coast, and the District of Columbia, and through correspondent relationships covering seventeen states and the District of Columbia.
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.