Magazine article American Banker

BankAmerica Plans to Scrap Key Security Pacific Systems

Magazine article American Banker

BankAmerica Plans to Scrap Key Security Pacific Systems

Article excerpt

LOS ANGELES -- As part of its pending merger, BankAmerica Corp. announced plans to scrap a number of key Security Pacific Corp. retail and wholesale banking systems in favor of its own technology.

Bank of America's proprietary automated teller machine network, Versatel, and its recently installed Customer On-Line Information Network (Coin), which automates the bank's California retail branches, have been selected for use by the merged institution, according to an employee newsletter.

The merged institution also will use BankAmerica's systems for lending and credit card and check processing functions for the California retail system.

Linking Systems Tricky

But the selection is the easy part. After the merger comes the difficult and expensive task of converting software that will meshing the two giant banks' back office together.

"It is a big job, but not impossible. The tools to do this are reasonably well-developed," said Howard Schwartz, a senior vice president at the MAC Group/Gemini, a Cambridge, Mass., consulting firm.

"We chose the systems that can be merged as quickly and inexpensively as possible," Martin Stein, executive vice president and the merged bank's new technology chief, said in the newsletter.

The Coin system, which has put 20,000 International Business Machine personal computers into Bank of America's California branches, has been touted by technology analysts as state-of-the-art.

By using high-powered PCs and sophisticated communications software, Coin gives tellers and platform personnel access to a customer's entire account relationship with the bank. …

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