Metavante and Temenos extend strategic alliance to include TEMENOS T24 marketing agreement for United States

[ This is a  joint Temenos and Metavante  announcement ]

Metavante and Temenos establish joint marketing strategy to jointly sell T24 in the U.S.

MILWAUKEE and GENEVA, Aug. 18, 2008 – Metavante Technologies, Inc. (NYSE: MV) and Temenos Group (SWX: TEMN) today announced the expansion of the strategic alliance previously announced by each company in March 2007. The expansion calls for Metavante and Temenos to immediately begin the joint marketing of the internationally acclaimed TEMENOS T24 (T24) packaged core banking software to foreign financial institutions in the United States. Metavante is a leading provider of banking and payments technology in North America, while Temenos is an international provider of integrated core banking systems.

Through this strategic agreement, Metavante and Temenos will jointly market to international financial institutions with U.S.-based operations the T24 international packaged core banking system, which includes comprehensive support for foreign exchange processing, securities and portfolio management, retail banking and the ability to support the trade finance requirements these international organizations require. The highly specialized international institutions will benefit from Metavante’s extensive U.S. banking knowledge and over 40 years’ experience in the U.S. banking industry as well as gain access to T24, the internationally recognized market leader of global banking systems. Metavante will provide T24 in an outsourced environment, along with providing integration, implementation and support services, while Temenos will provide licensing, enhancement, support and consulting services.

This agreement marks an expansion of the Metavante and Temenos relationship announced in March 2007, when the companies jointly announced an exclusive alliance to launch an advanced core banking platform based on TEMENOS COREBANKING (TCB) for U.S. financial institutions. This exclusive alliance remains vibrant as the companies work together to meet the growing demands U.S. financial institutions have for state-of-the-art core processing systems that enable them to better compete in the rapidly changing U.S. market.

Leveraging the TCB solution and technology platform, which has been successfully implemented by several institutions internationally, Metavante and Temenos are enhancing this advanced, model-based banking platform to U.S. functional and regulatory requirements. Metavante will integrate and package the first TCB release, which includes the comprehensive enterprise customer information management product, and plans to make it available to the market in the fourth quarter of 2008 as part of Metavante’s Global Integrated Banking Suite. This component will deliver the long-desired capability for an institution to have a “360” degree view of their customer relationships, providing opportunities to generate more revenue through increased wallet share while providing new tools for managing risk. Subsequent releases will support U.S. compliant deposit and loan servicing requirements.

“More than ever before, both international and U.S.-based financial institutions are faced with the complexity of the banking industry and need to equip themselves with innovative technology to continue to remain competitive,” said Jim Bolton, senior executive vice president and president of Metavante Enterprise Solutions Group. “Joining with Temenos in now offering the T24 solution to the U.S. market demonstrates our dedication to providing international banks with U.S. operations with access to advanced international core banking technology. By combining Metavante’s success in the financial industry coupled with the strength of T24, we’re delivering a very unique solution to this market.”

“We’re pleased to expand our relationship with Metavante and accelerate the growth of our T24 international banking system to U.S.-based subsidiaries of international banks. By leveraging Metavante’s strong banking relationships, distribution network and hosting capabilities, Temenos is uniquely positioned to tap into the growing foreign banking market in the U.S.,” commented Alex Groenendyk, president of Temenos Americas. “Banks are facing challenging economic conditions and are looking to diversify by exploring sectors such as foreign exchange, foreign investment and wealth management to make their margins - markets where T24 has clear and proven expertise.”

-ENDS-

About Temenos

Founded in 1993 and listed on the Swiss Stock Exchange (SWX: TEMN), Temenos Group AG is a global provider of banking software systems in the Retail, Corporate & Correspondent, Universal, Private, Islamic and Microfinance & Community banking markets. Headquartered in Geneva with 44 offices worldwide, Temenos serves over 600 customers in more than 120 countries.  

Temenos’ software products provide advanced technology and rich functionality, incorporating best practice processes that leverage Temenos’ experience in over 600 implementations around the globe.  

Temenos’ advanced and automated implementation approach, provided by its strong Client Services organisation, ensures efficient and low-risk core banking platform migrations. Temenos annually invests around 20% in R&D, significantly more than its peers, into a single fully packaged upgradeable software release, which ensures all Temenos customers benefit from modern technology and support indefinitely. For more information please visit www.temenos.com

About Metavante

Metavante Technologies, Inc. (NYSE:MV) is the parent company of Metavante Corporation. Metavante Corporation delivers banking and payments technologies to over 8,000 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, consumer healthcare payments, electronic presentment and payment, business transformation services, and payment network solutions including the NYCE Network, a leading ATM/PIN debit network. Metavante (www.metavante.com) is headquartered in Milwaukee.

Metavante Technologies, Inc. Cautionary Language Regarding Forward-Looking Statements: This press release contains "forward-looking statements" intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that express a plan, belief, expectation, estimation, anticipation, intent, contingency, future development or similar expression, and can generally be identified as forward-looking because they include words such as "believes," "anticipates," "expects," "should” or words of similar importance. Statements that describe Metavante’s objectives or goals are also forward-looking statements. The forward-looking statements in this press release involve significant risks and uncertainties, and a number of factors, both foreseen and unforeseen, could cause actual results to differ materially from Metavante’s current expectations. The factors that may affect Metavante’s results include, among others, our debt level, restrictions and limitations in Metavante’s credit facilities, our competitive industry, changes in customer demand for Metavante’s products or services, general changes in economic conditions,  risks of damage to Metavante’s data centers or associated infrastructure, additional costs and requirements associated with Metavante’s public company status, foreign currency fluctuations, intellectual property risks, effect of regulation on Metavante’s business, network and operational risks, loss of significant customers and customer consolidation risks, risks associated with future acquisitions, and other factors discussed in Metavante’s Annual Report on Form 10-K under the heading "Risk Factors”, and other filings with the SEC. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements.

Readers are cautioned not to place undue reliance upon forward-looking statements, which speak only as of the date hereof. Metavante undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date hereof.

Metavante is a registered trademark of Metavante Corporation, which is the principal subsidiary of Metavante Technologies, Inc.

TEMENOS™ , TEMENOS COREBANKING™ and TEMENOS T24™ are registered trademarks of the TEMENOS GROUP

For more information, contact:

For Metavante:
Chip Swearngan, Tel: 414-357-3688, chip.swearngan@metavante.com
Sam Baumgarten, Tel: 678-533-4861, sam.baumgarten@metavante.com

For Temenos:
Max Chuard
Temenos Director
Corporate Finance & IR
Member of the Executive Board
Tel: +41 (0) 22 708 1157
Email: mchuard@temenos.com

Ben Robinson
Temenos Investor Relations Manager
Tel: +44 (0) 207 290 3012
Email: brobinson@temenos.com

Petra Shuttlewood
Temenos PR Manager
Tel: +44 (0) 207 423 3751
Email: pshuttlewood@temenos.com

Evelina Amanatidou / Sole Chirco
Team 660
Metia for TEMENOS
Tel: +44 (0) 20 3100 3592/3718
 Email: evelina@metia.com / sole.chirco@metia.com