Bisys Group Inc. has signed new outsourcing agreements with two community banks and a thrift.
Little Falls, N.J.-based Bisys will supply data processing services to Bank of Lyons in Lyons, Ill., Flagship Bank and Trust Co., Worcester, Mass., and ITT Federal Bank, Irvine, Calif.
The institutions will be converted to Totalplus, Bisys' core accounting system.
Terms of the multiyear contracts with Bisys, a leading supplier of data processing services for community banks and thrifts, were not disclosed.
Totalplus supports a full range of banking functions, from operations to financial and marketing management.
Bank of Lyons, a community institution with $64 million in assets, will use Totalplus to streamline its teller operations and automate back-office functions.
The bank will use personal computers and an optical disc storage system to gain access to on-line information, including electronically stored signatures. The conversion is slated for this summer.
At Flagship Bank and Trust, a $235 million-asset bank with three branch offices, Bisys will process information. The conversion is scheduled this fall.
Using Totalplus, Bisys will process general ledger for ITT Federal and an affiliate, ITT Residential Capital Service Corp., La Jolla, Calif. Both companies are units of $3.6 billion-asset ITT Residential Capital Corp., San Francisco.
Bisys will also take over the processing of deposits and installment loans for ITT Federal. It will install and then run branch automation processing for the bank.