Systems integrator Computer Sciences Corp., has entered into an alliance that will let it provide wholesale banking software to its customers.
The El Segundo, Calif., firm is allying with Management Technologies Inc., a New York company that makes software for a wide range of wholesale banking activities, including foreign exchange, money market trading, and asset management.
"The synergy is (Computer Sciences') expertise in systems integration and our expertise in our products," said Adrian Sharp, general manager at Management Technologies.
The deal, whose terms were not disclosed, is the latest in a series of moves by Computer Sciences to expand its business with banks.
In April, Computer Sciences announced its intention to acquire Continuum Co. in Austin, Tex., which owns core banking software maker Hogan Systems Inc.
In May, Computer Sciences became the lead company in a landmark $2 billion outsourcing deal between J.P. Morgan & Co. and a consortium of technology providers.
With more than 34,000 employees and $4 billion in annual revenues, Computer Sciences has earned a reputation as a leading systems integrator.
As it applies itself to the bank technology services market, Computer Sciences will place more pressure on existing bank technology players, such as Alltel Information Services Inc. and EDS Corp., experts said.