NATIONSBANK ANNOUNCES SOFTWARE-INFORMATION CONTRACT WITH SYSTEMATICS FINANCIAL SERVICES, INC.
NATIONSBANK ANNOUNCES SOFTWARE-INFORMATION CONTRACT WITH SYSTEMATICS FINANCIAL SERVICES, INC. ATLANTA, Aug. 28 /PRNewswire/ -- NationsBank (NYSE: NB) has contracted with a leading software and information services company to help the bank deliver its consumer products to customers throughout its nine-state system. Ken Lewis, president of the NationsBank General Bank, today announced the five-year agreement with Systematics Financial Services, Inc. Also today, John Steuri, chairman and chief executive of Systematics, announced the agreement from the company's headquarters in Little Rock, Ark. Neither company disclosed financial details. "Systematics software and people will help NationsBank deliver the high quality consumer products our customers want quickly, reliably and economically throughout the nine southeastern and southwestern states where we do business," Lewis said. "We are managing NationsBank as one company," Lewis said. "We want to deliver the absolute best in financial products, with unparalleled service, to every one of our customers -- regardless of where they would like to do business, or where they happen to see our signs." The software and management expertise of Systematics will help NationsBank streamline its products and services to those best suited for all its customers. NationsBank will make these products available systemwide. "We expect our customers will enjoy this enhanced sales and service," Lewis said. "For example, we can offer our relationship package of accounts that is so popular in North Carolina to our customers in Georgia and other states and we can make our Florida retirement account available to senior citizens throughout our system. "Further, consumer product standardization and the use of the same software throughout our system will mean greater profitability for NationsBank, and this will benefit our employees and shareholders." John Steuri of Systematics said: "We are extremely pleased to be part of the NationsBank consolidation and growth. Our system and conversion experts are ready to help support its goal of delivering the best possible financial products and services to its customers." NationsBank and Systematics will co-manage and jointly staff the retail product standardization. NationsBank will dedicate as many as 160 system programmers to this effort. When the consumer product standardization is complete, NationsBank anticipates a reduction of approximately 230 positions in its programmer staff systemwide. This reduction will be accomplished through attrition, displacing contract workers and reassigning experienced NationsBank programmers to other positions. Systematics is a subsidiary of ALLTEL Corporation (NYSE: AT), one of the nation's leading telecommunications and information services companies. With clients in 49 states and 26 countries, Systematics provides data processing management, services and software to the financial and telecommunications industries. NationsBank Corporation is the country's fourth largest banking company with more than $111 billion in assets and full-service offices in nine states and the District of Columbia. -0- 8/28/92 /CONTACT: Ellison Clary, Corporate Communications, NationsBank Corporation, 704-386-8633 or (home) 704-365-1243/ (NB AT) CO: NationsBank Corporation; Systematics Financial Services, Inc.; ALLTEL Corporation ST: North Carolina, Georgia, Arkansas IN: FIN SU:
CM -- CH004 -- 4338 08/28/92 11:23 EDT
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|Date:||Aug 28, 1992|
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