Provident Savings Bank in St. Joseph, Mo., has announced that it will turn over its data processing to Outsource Technology in West Des Moines.
The conversion is slated for January.
With about $60 million in assets, Provident Savings operates in a region about an hour from Kansas City.
Jeff Williams, executive vice president of Outsource Technology, said Provident is undergoing something of an "evolution," shifting from a savings and loan to a community bank.
"As they evolve into a community bank, Provident needs additional capabilities in the installment loan, commercial loan, and deposit products areas," said Mr. Williams. "Our software systems give them that additional functionality."
Mr. Williams added that more functionality is critical because Provident faces competition from regional banks like Boatmen's Bancshares.
Outsource Technology processes integrated financial software from Information Technology Inc.
Outsource Technology is a subsidiary of Financial Information Trust, one of the largest outsourcers in the Midwest. Together Outsource Technology and FIT service 225 sites in 12 states, with total client assets of $6.5 billion.
Ms. Sullivan is a freelance writer based in New York.
