Magazine article American Banker

Broadway & Seymour Refocusing

Magazine article American Banker

Broadway & Seymour Refocusing

Article excerpt

Under a turnaround chairman, Broadway & Seymour Inc. is trying to establish itself as the premier provider of software and services that can help banks make the most of their customer information.

Alan C. Stanford, in charge for the last two years, has reversed what was seen as a poorly focused acquisition strategy. The Charlotte, N.C., company has divested businesses in asset management, trust, document imaging, and transaction processing.

It now serves just two markets. To the legal industry its profitable Elite Information Systems Inc. in Los Angeles provides financial management services. To the banking industry Broadway & Seymour provides software and services for customer relationship management, branch automation, and decision support out of Charlotte.

"I believe now we are in the right markets, and I think we have the right comprehensive solution set," Mr. Stanford said. "Now it is execution."

Wall Street is waiting for results. One investment source said Broadway & Seymour still must decide whether it is a product or a services company.

Securities analysts who follow the company said its Touchpoint software is rapidly gaining acceptance. The year-old system culls important information from multiple data bases to give bank representatives a consolidated view of the entire customer relationship.

The system is in various stages of installation at Chase Manhattan Corp., Dime Bancorp, First American Corp., Hibernia Corp., and Old Kent Financial Corp.

Touchpoint is also Broadway & Seymour's contribution to a technology and marketing alliance in relationship-oriented systems coordinated by Action Systems Inc. of Dallas. Hewlett-Packard Co. is another member of that group.

Mr. Stanford said he has more bank sales in the pipeline. Though some vendors cringe at the potential effects of consolidation on their sales, Mr. …

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