Date: Sun, 6 Jul 1997 11:25:38 -0700
Originator: cpsr-y2k@cpsr.org
Sender: listserv-reply-errors@Sunnyside.COM
From: Norman Kurland <kurlandn@CRISNY.ORG>
To: "Multiple recipients of list cpsr-y2k@cpsr.org" <listserv-reply-errors@sunnyside.com>
Subject: Banking -- Action Recommendation; Estes

From: Don Estes [SMTP:donestes@donestes.com] via Davis & Y2k list
Subject: Re: FW: Banking, doom and gloomers question...

Let me add a more optimistic note. In the USA, where we still have something like 10,000 banks and 1,000's more almost banks (S&L's, credit unions, etc.), it is my opinion that only the 100 largest banks will have a real problem. This is because only the 100 or so largest banks have their own software. Most banks use packages, ITI, Systematics, etc.

The package I know best is ITI, because I spent a good chunk of last year consulting to a national service bureau that also happens to own ITI. There are some 3,000 banks that use the ITI software, and it was built with a 50 year window design.

So, I would withdraw my money from any bank not using a nationally known and Y2K compliant package, which mostly means the 100 largest plus odd-balls here and there. Competitively, it is great to have your own software. But as a consumer, I wouldn't touch them, except for loans of course.

Beyond that, I advise people in the UK to go with NatWest, but only because the head of the Y2K project is a close friend whom I am convinced will succeed. Otherwise, who knows.

I'll have a lot of traveler's checks, cash and gold coins come December 31, 1999, just in case.

Don

Don Estes & Associates
Year 2000 Strategic Consulting
114 Waltham Street, Suite 19
Lexington, Mass.  USA
617-860-5277
FAX 617-862-3579
Pager 800-756-8046 or 617-662-0821
year2000@donestes.com