Kredietbank has signed a contract with International Financial Systems Ltd. for the Optical Fiche and Image System.

The Brussels-based bank, with $73.5 billion in assets, will install the system in its New York City office.

The system is a Windows-based application that eliminates the need to reprint and microfiche computer generated reports. Instead, users view reports on their personal computers.

The optical fiche system takes report information generated on a bank's mainframe or midrange computer and stores it on an optical disk.

It also has a data base tool which gives the user the ability to turn a report into a data base. This data base can be utilized by other PC applications such as spreadsheets.

The company said the payback from an investment in the system is typically less than one year.

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