Financial Telesis Inc. has expanded its remittance processing and data entry services businesses to the West Coast by agreeing to acquire Alpha Beta Data Services Inc. in Los Angeles.
The terms of the transaction were not disclosed.
Alpha Beta currently provides remittance processing services to seven bank customers; the service will now operate under FTI's Cash-Flex name.
A wholly owned subsidiary of CoreStates Financial Corp., Philadelphia, FTI is one of the nation's leading providers of remittance processing and data entry services to financial institutions.
FTI's headquarters and operations are in Clifton, N.J.