ALLTEL extends relationship with Peru's largest bank, Banco de Credito

LITTLE ROCK, Ark. – ALLTEL Information Services and Banco de Credito in Peru have reached a seven-year renewal agreement to provide the bank with ALLTEL software and maintenance. In addition, ALLTEL recently began a major upgrade project on the bank's core banking systems.

Banco de Credito, an ALLTEL client since 1995, is the largest bank in Peru, with assets exceeding $8 billion. Based in Lima, the bank has 220 branch offices throughout Peru, Colombia, Bolivia, El Salvador and the United States.

ALLTEL software covered under the agreement includes systems for deposits, loans, customer information, online collections, architecture and service delivery.

"ALLTEL continues to provide our growing organization with dependable, proven financial solutions," said Ricardo Bustamante, chief information officer for Banco de Credito. "We've chosen ALLTEL's financial solutions because they meet the projected growth for the bank with the least amount of modification, while maintaining the highest level of customer satisfaction."

The upgrade project includes consulting for architecture strategy, project management operations, operational efficiency, and application development methodologies including capability maturity model – a software development and lifecycle management technique. The upgrade will allow the bank to continue processing three of its subsidiary banks – two in Peru and one in Bolivia – on one platform using a single set of ALLTEL applications.

"Our relationship with Banco de Credito is a testament to the level of partnership ALLTEL shares with its clients," said Prakash Jalihal, ALLTEL Information Services' managing director for Latin America and Caribbean. "We work as a business partner growing with an organization and focusing on a bank's financial systems while the bank focuses on banking.

"We are pleased to continue this relationship with Banco de Credito and look forward to continuing to provide the bank with leading products and services."

ALLTEL Information Services provides banking industry expertise in software applications, systems integration, outsourcing and communications, to offer customized business solutions for the retail and wholesale banking sector. With more than 30 years experience in working with the world's leading financial organizations, ALLTEL's clients include 47 of the top 50 U.S. banks.

ALLTEL, with more than 10 million communications customers and $7.5 billion in annual revenues, is a leader in the communications and information services industries. ALLTEL has communications customers in 24 states and provides information services to telecommunications, financial and mortgage clients in more than 50 countries.

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