Metavante Forms Commercial Treasury Solutions Business

Metavante also announced that Gary Kasik will join the company to serve as president of Metavante Commercial Treasury Solutions. He brings over 28 years of experience in a wide range of financial services and technology. A veteran of several Fiserv businesses since 1991, Mr. Kasik most recently served as president of Fiserv BANKLINK, an outsourced cash management solution for financial institutions across all asset tiers. Prior to joining Fiserv through an acquisition in 1991, Kasik was with Citicorp Information Resources where he held various management positions with the banking technology unit of Citicorp. In addition to the products organized within it, Metavante Commercial Treasury Solutions will also use other Metavante solutions that provide payment, card-based and other merchant-driven services. Upon completion of the recently announced VICOR, Inc. acquisition, the business will become part of the new Metavante Commercial Treasury Solutions providing support for complex payment requirements. Metavante Commercial Treasury Solutions provide the technology and related outsourcing services to allow commercial clients to manage their cash and investments, as well as certain income statement items. Metavantes systems provide full accounting and reconciliation for such transactions, serving as the system of record and providing full regulatory compliance, risk assessment and fraud management tools. Metavante helps 18 of the top 25 commercial banks in the United States meet the financial services and payment processing needs of thousands of large corporations, middle market commercial firms and small businesses. Metavantes comprehensive set of services addresses the financial service needs companies face in dealing with their corporate and retail customers, employees and commercial vendors and suppliers.