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CANADIAN IMPERIAL BANK OF COMMERCE ACQUIRES LETTER OF CREDIT CUSTOMER ACCESS SYSTEM FROM MTI

 CANADIAN IMPERIAL BANK OF COMMERCE ACQUIRES LETTER OF CREDIT
 CUSTOMER ACCESS SYSTEM FROM MTI
 NEW YORK, Sept. 17 /PRNewswire/ -- The Canadian Imperial Bank of Commerce in Toronto has approved the final acceptance of a $224,000 customer access front-end for trade finance from MTI, Management Technologies, Inc. (NASDAQ: MTCI).
 The customer access system provides a link between the bank and its customers, allowing bank clients to generate and amend letters of credit by computer from their corporate offices. The letter of credit files are then sent to a PC at the bank which transfers them to the bank's mainframe while preserving bank security. Information from the mainframe is transmitted along the same link back to corporate customers, providing them with electronic access to information about their trade finance transactions.
 For both banks and their customers the system produces efficiencies in operations and improves the quality and timeliness of information available. Customers maintain a file of their data on their own computer and can use the information in spreadsheets for analysis and reports.
 "This saves the bank time on the phone updating customers and staff time typing letters of credit," said David Schneider, the MTI product development specialist in charge of the customer access system. "It brings the letter of credit process fully into the computer age."
 MTI trades on NASDAQ under MTCI for its common stock and MTCIW for warrants.
 -0- 9/17/92
 /CONTACT: Tom Groenfeldt of Management Technologies, Inc., 212-239-8224/
 (MTCI) CO: Management Technologies, Inc. ST: New York IN: SU: TNM


SM-AH -- NY061 -- 0690 09/17/92 13:14 EDT
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Publication:PR Newswire
Date:Sep 17, 1992
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