Source: Metavante, 9/02 except EPP rev. est. by *Financial DNA 2/02 
EPP = electronic payments and presentment

Metavante, with more than $600 million in revenues and $47 million in profit, filed to go public in July 2000, but withdrew its IPO in November of the same year. The company remains a wholly owned unit of Milwaukee, WI-based Marshall & Ilsley
(11,400 FTE; $6.1 billion market cap, 9/25/02).

Metavante has been rounding out it product line through a number of acquisitions including:

·         Derivion (June 2001) and its bill presentment relationships with 85 billers.

·         Spectrum (August 2002) the privately held EPP switch founded in 1999 by First Union, Wells Fargo, and JP Morgan Chase.

·         The company now dominates the scan-and-pay niche after first acquiring CyberBills in June 2001 and PayTrust in July 2002.

Metavante does not offer its payment services directly to end-users.
Number of Customers

Metavante has more than 3,000 total clients, 660 of which are financial institutions. Total EPP user base is estimated at 920,000 conducting 44 million transactions per year (see Table 1 & 2, below).

Table 1

Metavante Transaction Volumes

Source: Metavante 9/02; (e) = Financial DNA estimates, 2/02

Table 2

Metavante Transaction Growth

Source: Company, 9/19/02, except 2002 full-year estimate by OBR, 9/02