MINNEAPOLIS -- Norwest Corp. said on Thursday that it has abandoned a high-profile technology development effort with Electronic Data Systems Corp. and Banc One Corp.

Norwest was a partner in the seven-year, $125 million computer and software project, called the Strategic Banking System, one of the most closely watched technology projects in banking. When completed, the system is expected to handle every aspect of retail bank operations in a thoroughly integrated fashion.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

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