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Eurohypo Licenses Metavante Software IBM, Lisbon Firm in Management Pact U.K. Agency Using an ACBS Product
Eurohypo Licenses Metavante Software
The German real estate bank Eurohypo AG has agreed to use the Compliance Manager software suite from Metavante Corp.'s Prime Associates Inc. of Clark, N.J., in its New York branch.
Metavante said Wednesday that the $285 billion-asset Eurohypo plans to use the software to comply with U.S. anti-laundering requirements, as well as international regulations.
The software lets companies automatically filter and review customers' transactions for regulatory compliance and file reports with the appropriate agencies.
Richard N. Pagnotta, Eurohypo's North American compliance officer, said in a Metavante press release that the software would help his company "meet its regulatory obligations and protect the interests of its clients."
Metavante, the technology subsidiary of the Milwaukee banking company Marshall & Ilsley Corp., bought Prime Associates in February.
Eurohypo was formed in 2002 as a joint venture of three big German banking companies - Dresdner Bank AG, Deutsche Bank AG, and Commerzbank AG - as a real estate and public finance specialist.
Its New York branch focuses exclusively on real estate lending.
IBM, Lisbon Firm in Management Pact
International Business Machines Corp. of Armonk, N.Y., has agreed to manage "a significant part" of the technology infrastructure of Banco Comercial Portugues SA of Lisbon.
The 10-year project, scheduled to begin next month, is expected to reduce the banking company's information technology infrastructure costs by 25%, IBM said Monday. A spokesman for IBM said the contract could be worth more than $118 million over its term.
The banking company said it sought to cut costs and improve the flexibility of its technology.
The agreement expands on an earlier contract the two companies signed in 2003.
IBM will manage Banco Comercial Portugues' mainframe computers and Unix servers, communications services between Portugal and Greece, a secondary technology center in Lisbon, and business continuity and disaster recovery services.
The agreement covers its units Millennium BCP in Portugal and NovaBank in Greece. Later, the banking company said, IBM will start managing some operations of its Bank Millennium in Poland.
The $88.3 billion-asset Banco Comercial Portugues has more than 3.5 million customers and more than 1,000 branches in Portugal.
It also has significant operations in several countries with historic ties to Portugal.
U.K. Agency Using an ACBS Product
The British Export Credits Guarantee Department is using software from a unit of Fidelity Information Services of Jacksonville, Fla., to manage the financing it provides to exporters.
Fidelity National Financial Inc., the majority owner of Fidelity Information Services, said Wednesday that the U.K. agency is using software from ACBS Loan Systems for origination, servicing, and reporting.
Linda Woods, the technology director for the agency's financing program, said in a Fidelity National press release that the software has helped the agency integrate functions and to improve the quality of the agency's reporting.
Fidelity National acquired Alltel Information Services in 2003 and renamed it Fidelity Information Services. The unit is now partly owned by private equity firms and plans to merge next quarter with the St. Petersburg, Fla., payment processor Certegy Inc.
