Magazine article American Banker

CSC Buying TRW's Image-Based Payments Unit

Magazine article American Banker

CSC Buying TRW's Image-Based Payments Unit

Article excerpt

Big banks are increasingly outsourcing very specific parts of their businesses, and outsourcing companies are creating better-focused processing units to meet that need.

One example of this trend is Computer Sciences Corp.'s expansion into financial services through an agreement to acquire the image-based payment processing unit of TRW Inc.

The unit, TRW Data Services, formerly known as TRW Financial Systems, sells as a service bureau to banks, insurers, and investment companies.

Computer Sciences, based in El Segundo, Calif., is offering jobs to the 200 employees of TRW Data Services, who would remain at the California site and at a Nieuwegein, Netherlands, office. Gary Sherne, vice president and general manager of TRW Data Services, will continue to lead the unit within CSC's financial services division.

Michael Brinsford, CSC's president of strategic development, said the company will continue to acquire or align itself with other financial services outsourcing companies. Financial services accounts for 25% of Computer Sciences' revenue, reported at $8 billion for the year that ended July 2. Its offerings include core account processing, credit card management, customer profitability analysis, and other computer operations.

A CSC spokeswoman said TRW Data Services' image character recognition technology would be combined with Computer Sciences' technology to process paper or electronic payments more easily.

TRW Data Services is a relatively small part of TRW's business, which ranges over the automotive, pharmaceutical, telecommunications, and consumer packaged goods businesses, a company spokeswoman said. …

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