Systematics Information Services, Inc. has signed new contracts with Chemical Bank in New York and Citibank Singapore.
The contract with Chemical Bank represents a five-year renewal agreement for software-maintenance services for the bank's New York branch operations.
The charter renewal extends a relationship that began with Systematics providing software for Manufacturers Hanover before its merger with Chemical Bank in 1992. As the fourth-largest bank holding company in the United States, Chemical Bank has close to $150 billion of assets.
The Citibank Singapore agreement is a multimillion-dollar software licensing arrangement with Systematics.
An Ongoing Relationship
Systematics will provide Citibank with a complete set of retail banking application software, as well as implementation assistance and onsite training for technical and end-user staff.
This contract represents an ongoing relationship with Citibank worldwide. Systematics provides data-processing services to Citibank in Sydney, Australia. The company, which is based in Little Rock, also works domestically with Citibank on the delivery of niche products.
The new Citibank agreement was announced in coordination with the opening of Systematics' new regional headquarters facilities in Singapore.
In addition to the new Singapore office, Systematics has offices in Hong Kong, Manila, Jakarta, London, and the United States. Systematics also operates a wholly-owned subsidiary in Bangkok.
According to Prakash Jalihal, a vice president in Systematics' international division, the Citibank contract will significantly strengthen Systematic's presence in the Asian/Pacific market.
Systematics currently operates in 15 Asian/Pacific countries serving 23 retail customers and 117 wholesale customers.
Citibank is Systematics' third retail customer in Singapore.
Ms. Sullivan is a freelance writer based in New York.