Dime Savings Bank of New York and Star Bank in Cincinnati have purchased investment accounting and management systems from Thomson Investment Software.
The system, called Paragon, runs on personal computer-based networks. It combines analytics and accounting functions for trading and tracking fixed- income derivative instruments.
Dime Savings, with assets of $21 billion, will use the system to manage its adjustable-rate mortgage-backed securities portfolio, Thomson officials said.
Star Bank, which has $9.7 billion in assets, will use Paragon to manage their investment portfolios, derivatives, securities safekeeping, and correspondent services.
Thomson Investment Software is a subsidiary of the Thomson Corp., owners of the American Banker.