Magazine article American Banker

Wamu in Home Stretch of Post-Merger Integration

Magazine article American Banker

Wamu in Home Stretch of Post-Merger Integration

Article excerpt

Washington Mutual Inc. expects to wrap up by the end of the month one of the final pieces of conversion work related to its acquisition last year of Home Savings of America.

With the assistance of Affiliated Computer Services Inc., the $175 billion-asset thrift is converting loan records from Home Savings' imaging system to one that Affiliated has managed for Washington Mutual since last October.

Dallas-based Affiliated announced last week it was helping Washington Mutual with the conversion, which, when finished, will give employees across the merged institution a single, consistent view of loan information.

"The Home Savings document transfer was larger and more complex than other integrations," said David Imig, senior vice president of Washington Mutual's loan servicing division.

Wamu recognized that Affiliated "had the expertise and technology available to build a viable solution."

Affiliated has the largest installation of computers in the United States running document management software from FileNet Corp. of Costa Mesa, Calif., according to Mr. Imig. He said that makes Affiliated "uniquely positioned" to support Washington Mutual's increased loan volume.

Loans at the Seattle thrift have increased both from its purchase last October of Home Savings' parent, H.F. Ahmanson & Co., and from the acquisitions of Great Western Financial Corp. in 1997 and American Savings Bank in 1996.

The parent, known as Wamu, serviced $111. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.