BRAINTREE, Mass. - Morgan Stanley & Co., New York, and Bay View Federal Bank, San Mateo, Calif., have agreed to acquire licenses for Bancware Convergence, a bank planning, reporting, and analysis system.
Terms of the agreements were not disclosed.
Bancware Inc.'s new customers will use the system, which is in its third release, for interest rate risk analysis and asset and liability management.
Additionally, Bay View will use the system's consolidation feature for regulatory reporting and financial planning purposes.
Officials with company, based here, claim the system is the first bank planning model to be based in a Windows environment.
The system uses an Excel spreadsheet interface for data input and output, and can be used to support business unit forecasting and strategic planning.