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City National Bank of Beverly Hills Calif., plans to streamline its core data processing services, increase product offering and reduce costs by about 25 percent when it converts its system to M&I Data Services of Milwaukee, in September.
"This more powerful automation means more and better products and more rapid access to in-depth client information for our relationship managers, which adds up to additional benefits for our customers," says Frank Pekny, vice chairman and chief financial officer at City National.
The bank is outsourcing applications, including loan servicing, deposits transactions, account analysis and automatic teller machines to M&I. City National's existing data processing provider is ALLTEL, which...