TCF Financial Corp., a $7.1 billion savings bank holding company, has licensed loan automation software from Advanced Information Resources.
The Del Mar, Calif., company counts as its main product a back-office system known as Advanced Commercial Banking System. The product "automates the entire portfolio of risk-based products," according to Valerie Spousta, marketing manager for the firm.
Terry Weaverling, vice president of sales for the 13-year old company, said the software is used as a commercial loan accounting system, handling "the complex global corporate wholesale lending arrangements between a group of banks, as in a syndication."
Other banks using the system include NationsBank Corp., PNC Bank Corp., and Chase Manhattan Corp.