Press Release:
Press Release
News Article February 2005
MILWAUKEE, Feb. 9 /PRNewswire-FirstCall/ -- Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation, has completed its acquisition of Clark, N.J.-based Prime Associates, Inc., 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."
About Metavante Corporation
Metavante Corporation delivers banking and payment technologies to 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, and electronic presentment and payment. Headquartered in Milwaukee, Metavante is wholly owned by Marshall & Ilsley Corporation.
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