Metavante Technologies Inc. and the Swiss software company Temenos Group are terminating their core banking technology partnership.
Metavante, of Milwaukee, signed a deal in 2007 to modify a Temenos core processing product and market it to big U.S. banks, and last year it said it would market another Temenos application to the U.S. arms of international banking companies.
But that partnership was called into question after Fidelity National Financial Inc.'s April announcement that it had agreed to acquire Metavante for $2.94 billion in stock. Fidelity, of Jacksonville, Fla., offers several core banking products.
As part of the termination agreement, which Metavante announced Wednesday, Metavante will retain a license to use the Customer Information Management components of Temenos' Core Banking product.