With the year 2000 looming and an aging, 25-year-old legacy system burden, Wachovia Bank needed a new, more advanced loan servicing system fast. Conversion was far too costly. So it turned to American Management Systems (AMS) of Fairfax, VA, a provider of loan decisioning products to the nation's biggest banks, for a new loan servicing platform designed to give Wachovia greater flexibility in adding new products.

Atlanta and Winston-Salem, NC-based Wachovia, the country's 20th largest bank with assets of $48.5 billion, chose AMS's advanced consumer lending system (ACLS), a real-time loan servicing system within an IBM mainframe. Designed for very large financial institutions, it processes all retail term loan and revolving credit products. "We are trying to position ourselves operationally to accommodate any product line or service, including using the Internet," says Conway Shough, Wachovia's head of credit operations.

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