Fleet invests in lending system; seen as aiding the integration of acquired banks. (Fleet/Norstar Financial Group Inc.)(Technology/Operations)

Fleet Invests in Lending System

Seen as Aiding the Integration of Acquired Banks

Fleet/Norstar Financial Group is developing a multi-million-dollar lending system for consumer and commercial banking, aimed at tightening management control and boosting operational efficiency.

The software is designed to automate the origination, underwriting, and documentation of loans, while storing all information in a single data base.

Testing for the software is scheduled to begin in January 1992. Plans call for the bank to roll the system out to more than 900 branches, including those that were part of the bank's acquisition of assets of the failed …