MILWAUKEE and NEW YORK, Aug. 19, 2008 (GLOBE NEWSWIRE) -- M&I Marshall & Ilsley Bank (M&I Bank), the largest Wisconsin-based bank, and Viewpointe(r), a leading provider of check image exchange and archive services, jointly announced today that M&I Bank will begin using Viewpointe's Pointe2Pointe(r) solution for check image exchange.
As one of the early adopters of electronification, M&I Bank looked to Viewpointe's customized Pointe2Pointe solution to help meet its growing electronic clearing needs. With Pointe2Pointe, M&I Bank will be able to quickly and easily engage in electronic image exchange, clearing and presentment with some of its key exchange partners, including some of the nation's largest check processors.
"Over the past several years, M&I Bank has been developing an electronic infrastructure to reduce item processing costs and increase efficiencies," said Russ Soderberg, vice president, payment services, M&I Bank. "Working with Viewpointe is a key strategy to enable us to reach our goal of sending and receiving 100 percent of our check volume electronically."
"As we continue to broaden our reach to financial institutions throughout the U.S., we are pleased that M&I Bank has chosen to become a part of the Viewpointe image exchange network," said Diane Scott, chief sales, marketing and product officer / chief strategy officer, of Viewpointe. "M&I Bank is highly respected in the industry and their choice of Viewpointe for image exchange demonstrates the value we have to offer to all financial institutions for check electronification."
Pointe2Pointe enables financial institutions to safely send and receive electronic check images, rather than paper, to Viewpointe's national archive customers and other Pointe2Pointe customers. Financial institutions can use Pointe2Pointe by establishing a direct connection to Viewpointe's hub-and-spoke network. Alternatively, a financial Institution can connect to Viewpointe using the recently announced Internet Connectivity option.
ABOUT M&I
M&I Marshall & Ilsley Bank is an affiliate of Marshall & Ilsley Corporation (NYSE:MI), a diversified financial services corporation headquartered in Milwaukee, Wis., with $64.3 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 52 locations throughout Arizona; 32 offices in Indianapolis and nearby communities; 31 offices along Florida's west coast and in central Florida; 15 offices in Kansas City and nearby communities; 25 offices in metropolitan Minneapolis/St. Paul, and one in Duluth, Minn.; and one office in Las Vegas, Nev. M&I's Southwest Bank subsidiary has 17 offices in the greater St. Louis area. 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.
ABOUT VIEWPOINTE
Viewpointe(r) is a leading provider of check image exchange and archive services to financial institutions. Viewpointe operates the largest national archive of check images and information. It offers bank-to-bank image exchange through Pointe2Pointe(r) and is the only institution able to provide image exchange on demand through ImageShare(tm). In 2006 and 2007, Viewpointe was one of the youngest companies named to the prestigious FinTech 100 surveys. Viewpointe clients include: BancorpSouth, Inc., Bank of America, BB&T, Bremer Financial Corporation, Colonial Bank, Compass, Fifth Third, First Horizon National Corp., Fiserv, Inc, Cullen/Frost Bankers, Inc., Harris Bank, HSBC Bank USA, J.P. Morgan Chase & Co., National City Corporation, SunTrust Bank, Synovus Financial Corp., U.S. Bancorp, Wells Fargo and Zions Bancorporation. Industry connections include Federal Reserve Financial Services and PaymentsNation via Endpoint Exchange. For more information about Viewpointe, please visit http://www.viewpointe.com.