The check processing unit of CoreStates Financial Corp. has taken a big step toward establishing its independence, choosing a new processing software to replace its holding-company-related system.

Transys, the nine-month-old Philadelphia check processor, has slowly been edging out from under the shadow of its parent, in order to create its own identity as a check-clearing house to serve CoreStates as well as its competitors. To help meet that objective, Transys has set out to develop its own systems and operations, separate from the holding company.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.