Metavante Completes Acquisition of Prime Associates

Wednesday 9 February 2005 17:09 CET | News

Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation, has completed its acquisition of Clark, N.J.-based Prime Associates, Inc.

Prime Associates is a leading international provider of software, data and services that address the regulatory and compliance mandate of financial institutions such as anti-money laundering (AML) regulations. Prime Associates will become a Metavante subsidiary. The passage in 2001 of the USA PATRIOT Act gave further emphasis and requirements to the Bank Secrecy Act for financial institutions and other firms to increase controls to monitor monetary transactions, said Frank R. Martire, Metavante president and chief executive officer. This acquisition is in line with our direction to bring the most innovative technology and comprehensive consulting services to all segments of the financial services industry by delivering state-of-the-art compliance and risk management solutions for our clients.

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Categories: Payments & Commerce | Payments General
Countries: World
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