Under the terms of one new agreement, the Digital Insight-Metavante strategic partnership will expand to include Nyce Network real-time payments technology that gives online banking users of Digital Insight client financial institutions the ability to securely conduct inter-institution account-to-account (A2A) funds transfers.
Each transfer is designed to use only the recipient’s ATM/debit card number – never requiring the receiver’s PIN or expiration date. All financial institutions that have Digital Insight’s Funds Transfer product will be able to offer this service to end users.
In addition, Digital Insight and Metavante entered into a new agreement that will provide Digital Insight client financial institutions the ability to resell or directly issue stored-value gift cards to their customers through Digital Insight’s online banking interface or at their branch.
Digital Insight and Metavante also formally announced a third long-term agreement that was established in June 2005, naming Digital Insight’s consumer Internet Banking and Business Banking solutions as the exclusive third-party products resold to financial institution clients that use Bankway software – Metavante’s licensed core processing solution. In addition, Digital Insight’s loan origination system, DeskTopLender Premium, was named a recommended solution for Bankway clients.
Since the agreement was established, more than 20 Bankway-client financial institutions have contracted for internet banking services offered by Digital Insight.
By combining these new arrangements with existing agreements, each company expects to be able to capitalize on opportunities to cross-sell existing products and services through new distribution channels, while providing economic advantages for shared clients.
