SOURCE: Metavante Corporation

January 30, 2006 08:00 ET

CIGNA HealthCare to Offer Metavante's MBI Debit Card for Its Flexible Spending Accounts Customers

MILWAUKEE, WI -- (MARKET WIRE) -- January 30, 2006 -- Metavante Corporation today announced its MBI Benefits, Inc. affiliate will provide the national debit card for CIGNA HealthCare's popular flexible spending accounts (FSA). The MBI Benefits Card™ will provide CIGNA's FSA participants with electronic access to their FSA funds for accounts beginning in 2006. Metavante Corporation is the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI).

"As a leading provider of FSAs, we chose MBI based on its ability to tailor a debit card product with proven technology that best provides our customers with electronic access to FSA funds," said Jake Biscoglio, head of product development, consumer products, CIGNA HealthCare. "This relationship with Metavante Healthcare Payments opens the door to exploring more healthcare payment services options for our consumers."

"Metavante acquired MBI just prior to CIGNA HealthCare selecting the MBI Benefits Card for its FSA accounts," said Frank D'Angelo, president and chief operating officer, Metavante Payment Solutions Group. "We leveraged the combined resources of Metavante Healthcare Payments to build customized enhancements to the MBI Benefits Card for CIGNA HealthCare to ensure its readiness for 2006 and a new benefits year. Our relationship with CIGNA HealthCare represents a solid growth opportunity for Metavante Healthcare Payment Solutions. We stand ready to expedite future development requests and bring other services to the table as we're called upon."

About CIGNA HealthCare

CIGNA HealthCare, headquartered in Bloomfield, CT, provides medical benefits plans, dental coverage, behavioral health coverage, pharmacy benefits and products, and services that integrate and analyze information to support consumerism and health advocacy.

"CIGNA" and "CIGNA HealthCare" are registered service marks and refer to various subsidiaries of CIGNA Corporation. Products and services are provided by these subsidiaries and not by CIGNA Corporation. These subsidiaries include Connecticut General Life Insurance Company, CIGNA Vision Care, Inc., Tel-Drug, Inc. and its affiliates, CIGNA Behavioral Health, Inc., Intracorp, and HMO or service company subsidiaries of CIGNA Health Corporation and CIGNA Dental Health, Inc.

About Metavante

Metavante Healthcare Payments offers a consumer-directed health benefits payment platform plus the country's leading employee benefits card -- electronically accessing FSAs, health reimbursement arrangements (HRA), health savings accounts (HSA), transit/parking accounts and dependent care accounts. Metavante provides medical identification cards, combination eligibility/payment cards, and the ability to access multiple benefits accounts from a single card. Metavante also provides a comprehensive FSA/HSA/HRA platform that provides all the technology a financial institution, health insurance company, third-party administrator, or commercial business needs to offer these accounts. Services include account processing, trustee services, checks and debit cards, online and phone access to account information, investment options, regulatory reporting and related data translation and movement between payers, providers and consumers.

Metavante Corporation is redefining banking and payments to 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 health care payments, and electronic presentment and payment. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).

Contact Information

  • Contact:
    Sam Baumgarten
    Metavante Corporation
    678-533-4861
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