Swift Financial intends on 'reinventing business banking' by providing products and services designed specifically for the small business community. “Small businesses create more than 80 percent of all new jobs in the country; they are incredibly hard working and drive our economy,” said Ed Harycki, president, Swift Financial. “Reinventing business banking is not a one-time event. We have an extremely talented and experienced team, and they are constantly looking for products and services that simplify and improve our Customers' banking experience.”
M&I Bank will fund the loans and hold the deposits. Metavante is providing a comprehensive suite of banking and payments technology solutions, which include core account processing, debit and credit card processing, Customer relationship management services and DirectMerchant, Metavante's image-enabled distributed capture solution.
“Throughout our history M&I has been committed to meeting the needs of small businesses,” said Tom O'Neill, executive vice president, M&I Bank and president, M&I Bank FSB. “This collaboration is another way that we can provide small business owners with the financial support and tools needed to develop and grow their businesses.”
“Swift Financial selected a like-minded banking and payments provider in Metavante. Constant innovation of financial services has been at the core of both our success and that of our clients,” said Paul Danola, group president, Metavante Enterprise Solutions. “One way to innovate is creating mass market availability of a game-changing technology such as remote check image capture. Metavante has been a leader in check imaging and exchange since the earliest days of Check 21, so Swift Financial is well positioned to help small businesses operate efficiently and thrive.”
About Metavante
Metavante Corporation delivers banking and payments technologies to over 8,600 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, and electronic presentment and payment. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI). On April 3, 2007, Marshall & Ilsley Corporation announced its plans to split Metavante Corporation and Marshall & Ilsley Corporation into independent publicly traded companies. Metavante is a registered trademark of Metavante Corporation.
About Swift Financial
Swift Financial is a direct financial services company dedicated to small business banking. Headquartered in Wilmington, Delaware, Swift Financial launched in 2007 and is led by a veteran team of top bank executives who want to provide small businesses with simple banking products without excessive fees and penalties – while providing a level of service not typically associated with small business banking. Swift Financial is able to make these products available through its relationship with M&I Bank FSB that ensures that customer deposits are FDIC insured. For more information, visit swiftfinancial.com.
About M&I Bank FSB
M&I Bank FSB is an affiliate of Marshall & Ilsley Corporation (NYSE: MI), a diversified financial services corporation headquartered in Milwaukee, Wis., with $56.5 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank, with 193 offices throughout the state. In addition, M&I has 47 locations throughout Arizona; 30 offices along Florida's west coast and central Florida; 17 offices in Kansas City and nearby communities; 18 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; three offices in Tulsa, Okla.; and one office in Las Vegas, Nev. M&I's Southwest Bank subsidiary has 16 offices in the greater St. Louis area. Metavante Corporation, a wholly owned subsidiary, provides a full array of technology products and services for the financial services industry. On April 3, 2007, Marshall & Ilsley Corporation announced its plans to split Metavante Corporation and Marshall & Ilsley Corporation into independent publicly traded companies. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet (www.mibank.com or www.micorp.com). M&I's Customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry
