CSC Licenses Celeriti Banking Software to First Tennessee
News Release -- October 20, 2010
First U.S. Sale of CSC’s Celeriti Software to Modernize Banking Platform for Improved Operations and Customer Service
FALLS CHURCH, Va., Oct. 20 – CSC (NYSE: CSC) today announced that First Tennessee Bank National Association of Memphis, Tenn., is the first U.S. bank to license CSC’s newly unveiled Celeriti Customer and Deposits software. First Tennessee has chosen Celeriti for its next-generation enterprise banking platform to improve operations and accelerate the bank’s channel modernization initiatives.
A CSC software licensee since 1994, First Tennessee will implement Celeriti components, including a Web portal and the service-oriented architecture (SOA) business processes and Web services, which are built on IFX industry standards. As part of its progressive modernization, First Tennessee will also complete an accelerated upgrade of its Hogan Core Banking Systems at a lower cost and less risk than a “rip-and-replace” approach.
“We are upgrading our technology to improve the way our employees are able to serve our customers and to give our customers more choices for how they interact with us. We were looking for a solution to exploit modern technology and support our growth objectives,” said Bruce Livesay, CIO, First Horizon National Corp., parent company of First Tennessee. “CSC’s development of and investment in Celeriti will help us create a richer, differentiated and consistent customer experience while at the same time reducing costs.”
“A customized, low-risk path will guide the transformation of First Tennessee’s enterprise banking platform for the future,” said John Dickson, president of CSC’s Banking and Credit Services Division. “The Celeriti suite is designed for both existing CSC clients and other institutions to create consistency across all delivery channels; speed product introductions and regulatory changes; and gain better insights into their customer actions for improved decision-making.”
Celeriti is CSC’s end-to-end suite of SOA-based enterprise software for banking, cards, payments and lending. Celeriti is available on a range of platform options that provide scalability and cost efficiency, bringing the functions of the biggest banks into reach for financial institutions of all sizes. For more information, visit www.csc.com/celeriti.
About First Horizon
The 5,500 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 180 bank locations in and around Tennessee and 18 FTN Financial Group offices in the U.S. and abroad. First Tennessee has the leading combined market deposit share in the 17 Tennessee counties where it does business and one of the highest customer retention rates of any bank in the country. FTN Financial is an industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. FHN has been recognized as one of the nation’s best employers by AARP and Working Mother magazines. More information can be found at www.fhnc.com.
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions and Services, the Managed Services Sector and the North American Public Sector. CSC’s advanced capabilities include system design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. The company has been recognized as a leader in the industry, including being named by FORTUNE Magazine as one of the World’s Most Admired Companies for Information Technology Services (2010). Headquartered in Falls Church, Va., CSC has approximately 95,000 employees and reported revenue of $16.2 billion for the 12 months ended July 2, 2010. For more information, visit the company’s website at www.csc.com.