Westpac Banking selects EDS to provide mortgage processing services - Brief Article

Telecomworldwire, Oct 1, 2001

TELECOMWORLDWIRE-1 October 2001-Westpac Banking selects EDS to provide mortgage processing services (C)1994-2001 M2 COMMUNICATIONS LTD http://www.m2.com

Texas-based EDS has won a ten-year, USD679m contract to manage the mortgage processing activities of the Australian banking and financial services provider Westpac Banking Corp.

As part of the agreement EDS will assume the operations of Westpac's Mortgage Centre in Adelaide, which processes and services the financial institution's portfolio of approximately 700,000 accounts. EDS will set up a new company, EDS Business Process Administration Pty Ltd, to process Westpac's mortgages from the Adelaide centre. The company will also serve as the Australian hub for EDS' credit process management services.

EDS has worked with Westpac in Australia and New Zealand since 1994, providing services such as payments processing, credit support and printing operations.

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