After acquiring the assets of six financial institutions through Federal Deposit Insurance Corp.-assisted transactions in less than two years, Chicago-based MB Financial Bank sought to upgrade and unify its communications technologies and platforms to operate even more efficiently and effectively. Verizon provided the answer, delivering an integrated, managed networking solution that combines the banking company's branch networks into a seamless infrastructure that supports future growth.
Under a three-year, multimillion-dollar agreement that extends the companies' long-standing relationship, Verizon deployed Managed Private IP, a network service based on multiprotocol label switching (MPLS).
Verizon also is supporting MB's business continuity planning to help maintain uninterrupted operations and communications across its network of branches during natural disasters and other unforeseen events. In addition, MB is utilizing the network as a platform for Voice over Internet Protocol and other data services that enable the Chicago-based company to add new users quickly.
"MB is celebrating a century of banking service this year. As an organization, MB is the result of acquisition on many levels - growing by leaps and bounds over the past few years to over 90 banking centers and 1,700 employees," said Larry Kallembach, executive vice president and chief information officer for MB. "With one common communications technology platform, we can simply drop new nodes into the network should we expand through acquisition or organic growth. It's easy to scale up and bring everybody into the network, allowing us to get the service quality we need, no matter the size of the branch."
MB Financial Bank is the Illinois local operating unit of MB Financial Inc., a financial services holding company which is traded on the NASDAQ as "MBFI." MB Financial, based in Chicago, has approximately $10 billion in assets. Information about MB Financial can be found at www.mbfinancial.com.
Verizon Communications Inc. (NYSE, NASDAQ:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving 94.1 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 194,000 and last year generated consolidated revenues of $106.6 billion. For more information, visit www.verizon.com.