News Release-- September 18, 1997
NEDCOR BANK SIGNS PACT WITH CSC FOR CAMS II AND APPLICATION OUTSOURCING
Dallas, Texas, Sept. 18 -- Computer Sciences Corporation (NYSE: CSC) announced today that Nedcor Bank has signed a licensing and service agreement with the Banking & Consumer Finance Division of CSC's Financial Services Group.
Nedcor Bank has chosen CSC as a long-term technology partner in the implementation of software to meet the needs of the Nedcor Card Division and has signed a five-year application outsourcing agreement for the continued development, maintenance and support of all CSC software implemented within the bank.
Nedcor Bank, headquartered in Johannesburg, South Africa, is one of the largest banks in the country with $18 billion in assets and approximately 17,000 employees. Nedcor is a full-service bank with activities covering retail, commercial, corporate, merchant banking, fund management and related financial services.
Applications licensed from CSC include CAMS II, an integrated software platform based on relational technology. It will allow the management of a complete array of cards products, including consumer credit and debit cards, private label, installment/contract lending, commercial/procurement and smart cards. Additionally, Nedcor Bank has licensed the collections system to manage credit arrears situations and the online delivery system to enable the bank's multiple-delivery channels to service cardholders and merchants through their most convenient customer service point.
CAMS II is being developed by CSC to provide its customers with the capability to rapidly launch new differentiated payment products as customer demands and competitive strategies change. This can help an organization achieve a level of product definition to address the many micro-market segments which require services on a global 24-hour, seven-day-a-week basis. The system allows all card products of a financial institution to reside in one place. It also consolidates all card and merchant administration processes to reduce duplicate and redundant activities.
The applications feature design architecture to ease the implementation of compliance updates for VISA, Mastercard and Europay, as well as supporting Nedcor's American Express business.
CSC had $5.8 billion in revenue for the 12 months ended June 27, 1997. Headquartered in El Segundo, California, the company has nearly 44,000 employees in more than 600 offices worldwide and provides clients with a wide range of professional services, including management consulting, information systems consulting and integration, and operations support. The Banking & Consumer Finance Division of CSC's Financial Services Group is located in Dallas, Texas. More information about Computer Sciences Corporation is available at www.csc.com.