Chicago's Bank One has agreed a 10-year software and support contract for Alltel's Advanced Loan System (ALS).
Forrest Richardson, director of loan accounting for Bank One, says the ALS system gives the bank more flexibility in creating new customer credit products. "Over the next three years, all consumer and business loans will be placed on the system," he says.
The software is being installed at the bank's data center in Columbus, Ohio. Alltel will provide remote production support from its Arkansa base in Little Rock.