MI Marshall & Ilsley Corp

NEW YORK, Aug. 13 /PRNewswire/ -- SVPCO -- Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., today announced that M&I Marshall & Ilsley Bank, (M&I), an affiliate of Marshall & Ilsley Corporation (NYSE:MI), is now connected to the SVPCO Image Payments Network. M&I Bank is linked to the network through the SVPCO Gateway DTA, which enables banks and credit unions to send and receive bulk files of images through the SVPCO Image Payments Network. M&I Bank is using SVPCO's File Transfer Protocol (FTP) option, a low-cost, Internet-based connection that makes it easy for institutions to participate in the network and exchange check images. "M&I Bank recognizes the strategic value of using the SVPCO Image Payments Network to expand its image exchange strategy and to realize the benefits of reduced cost and risk," said Russ Soderberg, Vice President of M&I Bank. "Implementing SVPCO's Gateway DTA is the most recent step that M&I Bank has taken to further streamline its check processing operations." The SVPCO Image Payments Network, the nation's private-sector volume leader in image exchange, exchanged 218.2 million in items in June totaling $390 billion in value. In addition to M&I Bank, participating institutions include Bank of America, Bank of Stockton, The Bank of New York, BB&T, Comerica Bank, Fifth Third Bank, First Citizens Bank, HSBC Bank, Huntington National Bank, JPMorgan Chase Bank, KeyBank, LaSalle Bank, M&T Bank, Members United Corporate Federal Credit Union, National City Bank, PNC Bank, Sterling National Bank, Union Bank of California, U.S. Bank, Wachovia Bank, and Wells Fargo Bank. Through its relationship with the Federal Reserve and Endpoint Exchange, the Image Payments Network can reach more than 10,000 endpoints and help institutions take advantage of image exchange. "The SVPCO Image Payments Network provides M&I Bank with a unique opportunity to realize the long-term advantages of check image exchange, and we're pleased to welcome M&I Bank to the network," said Susan Long, Senior Vice President of The Clearing House, responsible for SVPCO-Electronic Clearing Services. "The participation of M&I Bank will not only allow the bank to improve the efficiency of its check processing operations, but also exchange images with a growing number of institutions connected to the nation's premier image exchange system -- the SVPCO Image Payments Network." The Image Payments Network offers financial institutions a variety of connectivity options. The SVPCO Distributed Traffic Agent (DTA) enables financial institutions with larger volumes to transmit check images directly to each other. The SVPCO Gateway DTA is a cost-effective solution designed for institutions with smaller volumes or who are interested in gradually ramping up their image processing capabilities. The Image Payments Network can also be accessed through an institution's correspondent banking relationship or through a third-party processor. How the Image Payments Network Works The Image Payments Network is a single, end-to-end system that provides for transmitting check images directly between participants, thus eliminating the expense of transporting physical checks, and settling the participants' net positions. The network enables financial institutions to exchange and settle check images peer-to-peer without a cumbersome central processing system. All financial institutions that exchange images directly with each other via the Image Payments Network utilize the automated settlement function. Automated settlement provides online net and bilateral settlement position reporting and eliminates the manual intervention required with other settlement arrangements. Financial institutions can see their net debit or credit position online and view their position with all of the financial institutions participating in the Image Payments Network at any time. For more information about the SVPCO Image Payments Network, contact Susan Goold, Vice President, Products and Services, SVPCO-Electronic Clearing Services, 201.319.5554, . About M&I Marshall & Ilsley Corporation (NYSE:MI) is a diversified financial services corporation headquartered in Milwaukee, Wis., with $58.3 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin- based bank, with 192 offices throughout the state. In addition, M&I has 48 locations throughout Arizona; 30 offices along Florida's west coast and in central Florida; 16 offices in Kansas City and nearby communities; 22 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 17 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 (http://www.mibank.com/ or http://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 The Clearing House Payments Company The Clearing House Payments Company L.L.C. (http://www.theclearinghouse.org/) is a private-sector, global payment systems infrastructure that clears and settles 40 million payments for more than $1.6 trillion per day. The Clearing House serves more than 1,400 U.S. financial institutions and hundreds of international participants with payment services that span the entire spectrum of paper, paper-to-electronic and electronic payments. Services include local and regional check exchange and settlement services; ACH association and operations; large-value "wire" payments; and image exchange. Financial institutions of all sizes benefit from payment systems that meet the highest standards for reliability, security and service. The Clearing House Payments Company is owned by the following banks or their U.S. banking affiliates: Bank of America, The Bank of New York, The Bank of Tokyo-Mitsubishi UFJ, BB&T, City National Bank, Citibank, Citizens Bank, Comerica Bank, Deutsche Bank, Fifth Third Bank, First-Citizens Bank & Trust Company, HSBC Bank, JPMorgan Chase Bank, KeyBank, LaSalle Bank, M&T Bank, National City Bank, PNC Bank, UBS, U.S. Bank, Wachovia Bank, and Wells Fargo Bank. DATASOURCE: The Clearing House CONTACT: Chip Savidge of The Clearing House, Office: +1-212-613-9896, Mobile: +1-917-576-0957, ; or Greg Berardi, Office: +1-415-239-7826, Mobile: +1-415-672-2377, , for The Clearing House Web site: http://www.theclearinghouse.org/ http://www.mibank.com/ http://www.micorp.com/

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