WATERFIELD BANK PARTNERS WITH METAVANTE
Provides Customers Greater Security and Flexibility for Investments
IRVINE, Calif.--(BUSINESS WIRE)--Waterfield, a leader in financial services for nearly 100 years, today announced a strategic partnership with Metavante (NYSE:MV), a leading provider of banking and payments technology, which will now provide core processing services to Waterfield Bank. This partnership includes a unique solution that allows Waterfield Bank customers access to up to $750,000 in FDIC insurance through a single account.
“Our partnership with Metavante brings even greater rigor to our transactional systems and operations, which results in increased security of our customers’ funds,” said J. Randall Waterfield, co-CEO of Waterfield Bank’s holding company. “But beyond that, the Metavante Brokered Funds Accounting solution provides our customers access to $750,000 in FDIC insurance for their accounts, allowing them to keep their large investments in one place without assuming unnecessary financial risks, which is critical in these tumultuous economic times.”
Waterfield Bank’s alignment with Metavante, recognized as a leading provider of back-office, safety and soundness compliance systems, provides customers with continued confidence in knowing that their money is backed by nearly a century of banking experience and the latest in financial services technology. Waterfield Bank customers will realize a more streamlined system through the Metavante partnership by receiving one statement, one check book and one debit card, yet still be able to access multiple FDIC-insured institutions through the groundbreaking service.
“In a challenging economic market experiencing continued consolidation, Waterfield is seizing the opportunity to grow its business and fill the void created by challenged competitors,” said Jamie Geschke, president, Metavante Banking Solutions. “Waterfield appreciates that in order to profitably grow a business it is imperative to apply integrated technology to increase operational efficiency.”
“Many of our customers are finding themselves in financial circumstances they never imagined,” said Waterfield. “The volatility in the market is historic and it causes people to wonder about their financial futures. By making strategic investments in partnerships that provide our customers greater security and flexibility, we are assuring our customers that Waterfield Bank can and will be their trusted partner during these challenging times and beyond.”
About Waterfield
For nearly 100 years, consumers have trusted the Waterfield name to provide a broad range of financial services. Waterfield offers traditional, safe banking through Waterfield Bank and its affinity group banking centers. With diversified holdings and a legacy of excellence in the financial services industry, Waterfield remains committed to providing its customers with the highest levels of service, security and peace of mind. The Waterfield umbrella of companies includes Waterfield Bank, Waterfield Mortgage, Waterfield Financial Services and Waterfield Technologies. For more information, please visit www.waterfield.com and www.waterfieldbank.com.
About Metavante
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.
