State Street Corp. is using software from Advanced Information Resources of Del Mar, Calif., to process commercial loans.

The Advanced Commercial Banking System replaces a legacy system the $39 billion-asset bank had developed several years ago.

"Our old system could not provide consolidated, real-time feedback to our relationship managers and clients," said Bruce Oliver, senior systems officer at State Street.

The new system "enables us to give our managers prompt and comprehensive information about lending relationships, including banker's acceptances, letters of credit, and commercial credit arrangements."

The bank is looking into using the system to support its overseas offices and additional product lines.

Other users of the package include NationsBank Corp., Chase Manhattan Bank Corp., and J.P. Morgan & Co.

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.