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Article: BT eyes alternatives after killing project. (Bankers Trust New York Corp.; personal accounting systems)
- Article from:
- American Banker
- Article date:
- January 10, 1994
- Author:
CopyrightCOPYRIGHT 1994 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bankers Trust New York Corp. is evaluating a personal trust accounting system from Premier Solutions Inc. after the scuttling of a multimillion-dollar software development project it was working on with another vendor.
Last week, Minnapolis-based National Computer Systems Inc. announced it would take a pretax charge against earnings of $23 million to cover the costs of dropping the software project, called Ultrust.
Bankers Trust had been the main test site for the system, which had been under development for two years. National Computer Systems bore most of the investment, but the bank spent about $5 million itself, according to knowledgeable sources.
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