Printer Friendly

ANCHOR SAVINGS BANK SIGNS OUTSOURCING AGREEMENT WITH ALLTEL'S SYSTEMATICS

 ANCHOR SAVINGS BANK SIGNS OUTSOURCING AGREEMENT
 WITH ALLTEL'S SYSTEMATICS
 LITTLE ROCK, Ark., April 8 /PRNewswire/ -- ALLTEL Corporation's (NYSE: AT) Systematics subsidiary announced that it has signed a six-year outsourcing agreement with Anchor Savings Bank FSB, Hewlett, N.Y. Anchor Savings Bank, a wholly owned subsidiary of Anchor Bancorp, Inc., is among the 25 largest U.S. thrifts and has assets of more than $8 billion and deposits of over $6.6 billion. The terms of the agreement were not disclosed.
 James M. Large, Jr., chairman and chief executive officer of Anchor, stated, "Outsourcing data processing functions has become an industry trend, and with good reason. The significant savings realized by the use of Systematics' services will bolster the bank's bottom line and convert Anchor's data processing costs into predictable and defined expenses year after year."
 Under the agreement, Systematics will manage Anchor's data processing function under an outsourcing arrangement. The data processing center employees of Anchor's subsidiary, Anchor Systems Corp., will become employees of Systematics.
 Anchor's president and chief operating officer, Richard W. Dalrymple, added, "Anchor was impressed with Systematics' outsourcing and financial industry expertise. Systematics has a long track record of providing comprehensive, high-quality data processing services to the banking industry. Our relationship with Systematics will allow us to leverage technology for the benefit of our customers," said Dalrymple. "In today's competitive banking environment, we need to utilize every advantage available. Establishing this relationship with an experienced and highly regarded bank technology company enhances Anchor's strategic position."
 Systematics chairman and CEO John Steuri said, "We are particularly impressed with the strength of Anchor's management team. Anchor is a leader in its market, and we are very pleased to be forming this relationship with such a fine organization."
 Systematics, with clients in 46 states and 26 countries outside the United States, provides information processing management, services and advanced application software for the financial and telecommunications industries.
 ALLTEL Corporation provides telephone service to 1.2 million customers in 25 states and has subsidiaries or investments in companies that provide cellular telephone, long-distance and information services, communications products and other related services.
 -0- 4/8/92
 /CONTACT: Ron Payne, vice president-corporate communications, of ALLTEL Corp., 501-661-8989/
 (AT) CO: ALLTEL Corporation ST: Arkansas IN: TLS SU:


KK -- CL008 -- 6424 04/08/92 16:32 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 8, 1992
Words:382
Previous Article:PYRAMID WILL REPORT LARGER THAN EXPECTED REVENUE DECLINE AND OPERATING LOSS FOR ITS MARCH 1992 QUARTER
Next Article:MARCH 1992 SALES INCREASE 15.9 PERCENT FOR VENTURE STORES INC.


Related Articles
An emerging giant; $1.6-billion Alltel and Systematics are positioned for corporate greatness: can they pull it off?
ALLTEL'S SYSTEMATICS SIGNS OUTSOURCING AGREEMENT WITH CALIFORNIA FEDERAL
ANCHOR TO OUTSOURCE DATA PROCESSING OPERATIONS
GTE CELLULAR TO OUTSOURCE WITH ALLTEL'S SYSTEMATICS
ALLTEL'S SYSTEMATICS HEALTHCARE SERVICES SIGNS FIRST HOSPITAL OUTSOURCING CUSTOMER
ALLTEL'S SYSTEMATICS SIGNS LONG-TERM OUTSOURCING CONTRACT WITH HIBERNIA NATIONAL BANK
GLENDALE FEDERAL BANK REACHES OUTSOURCING AGREEMENT WITH SYSTEMATICS FINANCIAL SERVICES INC.
GLENDALE FEDERAL TO OUTSOURCE WITH ALLTEL'S SYSTEMATICS
RUSSIAN FINANCIAL INSTITUTION SIGNS MAJOR SOFTWARE CONTRACT WITH ALLTEL'S SYSTEMATICS
Russian bankers visit Systematics, LR; Alltel subsidiary to revamp antiquated Moscow bank.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters