Magazine article American Banker

Bankers Trust Ready to Start Installing Massive Trust System

Magazine article American Banker

Bankers Trust Ready to Start Installing Massive Trust System

Article excerpt

Bankers Trust is poised to deliver key pieces of its multimillion-dollar institutional trust system, technology based largely on networks of personal computers aimed at linking the bank more closely with its corporate customers.

The system, called MARS, for Multi-Currency Accounting and Reporting System, will replace four mainframe systems with a far more flexible system.

The system, to be used initially for institutional trust, will eventually be the underpinning for all of Bankers Trust's fee-based businesses, including custody, investment accounting, and personal trust. Bankers Trust New York Corp. has $375 billion of assets under administration and 550 trust customers.

Aiming to Lead Market

Bank officials say the system is aimed at making the bank the market leader in institutional trust and custody. "We're not taking an existing system and forcing it to be more that it was intended or could be," said Doreen A. Wright, managing director of institutional trust product delivery at Bankers Trust.

"We believe that those of our competitors that have done that will meet the short-term functional requirements of their clients, but later they will get behind."

The "legacy" systems grew up in a hodgepodge as customers and products were added. MARS, by contrast, consists of independent modules that are defined by their function: lists of securities, software to generate reports, accounting software, valuations software.

Quick Response

"We believe this [approach] improves the accuracy of the information, and will enable us to respond more quickly" when changes must be made, said Paul W. Hoffman, managing director of institutional trust systems.

With MARS, Bankers Trust will be able to deliver real-time investment accounting and reporting information to its customers, Ms. Wright said.

Customers will continue to link to the bank via the BTWorld Client Inquiry and Reporting System product. …

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