IBM Japan and Mitsubishi Bank have formed a joint venture company to market Mitsubishi Bank’s third online system software, whose accounts modules – new deposits, foreign exchange ledger, and new branches system – went into operation October 12. Fuji Bank was originally to have participated, but withdrew. Provisional name for the new company is Diamond Business Engineering, capitalised at $1.4m, and Mitsubishi Bank-related companies will have 50% of stock, IBM Ja-pan 35%, Mitsubishi Bank itself 5%, and a host of other software companies 2% each. It will pitch the complex software product at regional banks and mutual savings and loan banks too small to to develop their own Third On-line Systems.
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