Banks in Hungary and Portugal purchased software and services valued at more than $10 million each from Sanchez Computer Associates Inc., Malvern, Pa.
Hungary's Magyar Hitel Bank will be converting to Sanchez's Profile banking and financial management system over the next 18 months.
The infrastructure upgrade will automate all operations and accounting at the bank's Budapest headquarters and 93 branches - including commercial lending, consumer banking, and private banking functions.
With approximately 6,000 employees and 600,000 customer accounts, the bank has been using personal computers at the branches, with two or three accountants supporting each teller.
The contract with Portugal's Rural Informatica Servicos de Informatica entails the networking and modernizing of transaction processing, accounting, and reporting at approximately 250 regional agricultural banks, most of which are currently operating independently.
The system will serve as many as three million accounts when the rollout is completed in two to five years.
All applications in both countries will run on hardware from Digital Equipment Corp.
