CoreStates Financial Corp. has agreed to license two software packages from Systematics Financial Services Inc.
Philadelphia-based CoreStates said it had signed a five-year deal for software and support related to Systematics' advanced-loan system and its information-management system. Little Rock, Ark.-based Systematics will handle the installation of the software, training of the bank's employees, and scheduled upgrades to the system.
The value of the transaction was not disclosed.
The deal is part of the $23.7 billion-asset bank's push to standardize the products and services it offers through its 280 branches in Pennsylvania and New Jersey.