StonehamBank is headquartered in Stoneham, Mass., and has $423 million in assets.

StonehamBank will continue to leverage Metavante's Integrated Banking Services (IBS), a comprehensive outsourced core processing platform that meets the strategic needs of financial institutions. The bank is leveraging a full suite of banking and payments solutions through Metavante's IBS that includes: ATM support, card processing, customer relationship management, electronic banking, electronic payments, imaging services, risk and compliance, wealth management, and participation in the NYCE Network. In addition, StonehamBank is expanding its relationship with the deployment of Metavante's Loan Origination Studio (LOS), a Web-based loan automation technology that combines a single, central database with comprehensive origination, processing and closing capabilities. Metavante's IBS and LOS are fully compatible, enabling StonehamBank to access existing customer relationship data when creating new loan applications, as well as submitting closed loan data to its core system for booking.

"Our main goals as a community bank is to increase the flexibility in customer offerings and grow our lending portfolio," said StonehamBank's chief operating officer and executive vice president, John Speakman. "As a current Metavante client, we can take advantage of running technology applications within our loan operation platform into Metavante's integrated core banking solution. We fully expect to significantly increase efficiencies throughout the entire organization, including in our mortgage origination process and improve customer satisfaction with the strong combination of Metavante-powered technologies."

StonehamBank will also use Metavante's Internet Direct product as a private-labeled customer-facing mortgage origination site. Metavante's Internet Direct product is a secure Website that enables borrowers to complete online loan applications and lead forms that are then electronically submitted to a lender's originator network and processing operation.

"Metavante keenly understands our client's unique business strategies and is dedicated to providing the most innovative technology needed to help them achieve success - especially in today's changing economic environment," said Jamie Geschke, president, Metavante Banking Solutions. "Through the seamless integration of our loan origination platform into the bank's existing Metavante IBS core processing solution, we're equipping StonehamBank with a solid combination of technologies to help the bank reduce operating costs, while significantly increasing loan volumes."