HBOS's new Bank of Scotland corporate banking division is to deploy Alltel's ACBS Deal & Loan Servicing-Extended system across its operations.
Alltel's ACBS (advanced commercial banking system) is an integrated suite of commercial lending products that automate the entire range of commercial lending activity, from deal origination, settlement and accounting to risk management and loan trading. The products operate in real time, in any currency and in multiple languages. ACBS runs on AS/400 and Windows NT platforms.
The system will replace an earlier version of ACBS that has been in operation at Halifax's group treasury unit since 1998.
Matt Lawson, head of operations for Bank of Scotland corporate banking, explains: "As a newly unified division, Bank of Scotland Corporate Banking wants to accommodate future growth without maintaining our several current systems or engaging in costly interface and customisation projects. Our colleagues at Halifax faced a similar integration challenge several years ago, when they concluded that the ACBS system offered the smoothest path to unified operations."
HBOS was formed in September 2001 from the merger of Halifax and Bank of Scotland.