Tech Bytes: Sumitomo Shifting to Sanchez Deposit System

Sumitomo Bank has selected Sanchez Computer Associates Inc. of Malvern, Pa., to replace its core legacy deposit system for international banking operations.

The contract amount was not disclosed.

The bank will use Sanchez's Profile/Anywhere software and the graphical user interface system Profile for Windows to do its corporate deposit processing.

The software will be installed in the $426 billion-asset bank's New York offices first.

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