Outsourcing its information processing Operations, Consolidated Bank of Miami has signed a long-term contract with Systematics Financial Services Inc.
Consolidated Bank has assets of $650 million and operates branches in Dade and Broward Counties.
The contract calls for Systematics to handle the bank's information processing operations out of its technology center in Little Rock, Ark. Systematics will also provide Consolidated with item processing and branch automation software and telecommunications management. The contract includes software, conversion services, and on-site management.
Systematics is a subisidiary of Alltel Corp., a telecommunications and information services company.
As part of another long-term contract, Systematics will provide community banking software to Ellenville (N.Y.) National Bank. The $155 million-asset bank serves approximately 26,000 accounts through five branches.
Systematics will issue a license for the relational data based software, called Horizon, and provide installation and training. Horizon is designed for IBM AS/400 technology and will let the bank develop new products without complicated reprogramming.