Banknorth Group, Inc. (Nasdaq:BKNG), one of the country’s 35 largest commercial banking companies, has signed a long-term agreement with Metavante Corporation for a suite of Electronic Funds Transfer (EFT) and Card solutions. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI).Metavante will provide Banknorth with ATM management, transaction routing and switching along with PIN-based card transaction processing. Banknorth has over 400 ATMs and over 800,000 ATM and debit cards. Metavante currently provides Banknorth with trust processing from its Wealth Management solution. Metavante anticipates completing the Banknorth conversion to its EFT and Card solution in the fourth quarter of 2002.”Our goal was to find an EFT and card partner that gives us the capability to support and expand our product offerings on a single, high-performance platform,” said William J. Ryan, president and chief executive officer, Banknorth Group. “Not only did Metavante meet our service, feature and usability criteria, but they also exceeded them with its state-of-the-art technology that includes features like web-based ATM monitoring.””We are thrilled to be able to expand Metavante’s relationship with Banknorth,” said Frank D’Angelo, senior vice president and general manager, Metavante EFT and Card. “Given the scalability of our solution, we are confident we will be able to support the growth objectives and future business strategies of Banknorth.”Metavante is a leading provider of Electronic Funds Transfer and Card solutions, including account processing, merchant servicing, database management, data entry, card personalization, and fulfillment services for debit, credit, stored-value, prepaid, transit, and ATM cards. Metavante provides EFT and card services to approximately 1,600 financial services providers in the United States. Metavante links with all major electronic funds transfer networks, gateways, and processors to route and authorize ATM and debit card transactions for banks, credit unions, Internet banks and independent sales organizations.
Al Shabaab militants in TrainingAl-Shabaab militants have threatened to stage more attacks in Kenya, just two days after their gunmen slaughtered 148 people at a university in the country’s north east.A statement released by the militants, says quote, ” Kenyan cities will run red with blood… this will be a long, gruesome war of which you, the Kenyan public, are its first casualties.”The statement described how they had specifically singled out non-Muslims to kill, gathering them together before executing them.The day-long siege on Thursday in Garissa was Kenya’s deadliest terror attack since the 1998 bombing of the U.S. embassy in Nairobi, and the bloodiest ever by the militants.The group also issued a warning of pending attacks against Universities and institutions of higher learning forcing the institutions to heighten their security measures.The University of Nairobi, Kenyatta University and the United States International University – Kenya had all issued security memos days before the attack on Garissa University claimed by Somali Islamist militant group al-Shabaab.The memos informed students and staff of new security measures while cautioning people within their campuses to be extra vigilant.Al-Shabab has staged numerous attacks in Kenya. The 2 April massacre at Garissa University, near the border with Somalia, is the bloodiest so far.However the worst attack to date was on Nairobi’s Westgate shopping centre in 2013, when at least 68 people died.In Westgate, and other attacks, the militants spared Muslims, while killing those unable to recite verses from the Koran.There are also regular gun and grenade attacks attributed to al-Shabab both in border areas, where many Kenyans are ethnic Somalis, and in Nairobi.Kenya has sent its troops into Somali territory, where they have joined the African Union force battling the militants.Al-Shabab has also set up a recruiting network in Kenya, especially around the port city of Mombasa, which has a large Muslim population.