HCL James Martin, Inc. & AABD Join Forces To Assist Bank Directors With Year 2000 Compliance

by Gregory C. Golembe, Executive Director

July 15, 1998—Bethesda, Maryland

American Association of Bank Directors (AABD) and HCL James Martin, Inc. (HCL JMI), a world leader of systems redevelopment solutions, today announced the establishment of a new strategic relationship aimed at meeting Year 2000 (Y2K) compliance needs of bank and savings associations.

HCL JMI will become the Y2K issues advisor to AABD, a non-profit organization representing bank and savings institution directors nationwide. In this capacity, HCL JMI will keep AABD regularly apprised of the latest developments relating to Y2K. The Association will disseminate this time-sensitive information to its members in a user-friendly format as part of its overall services. The information will be analyzed and presented in a context that will enable directors, both inside and outside, to better meet their core responsibilities.

To further enhance communications and expand the dialogue on this critical issue, HCL JMI will help AABD develop a web site and assist in the preparation of white papers and articles on Y2K compliance related topics. Other initiatives are anticipated, including a Y2K hotline and the development of a "best practices" database.

"AABD is taking a particularly active role with our issues advisors in this area because of the compelling nature of Y2K compliance," said Greg Golembe, AABD's Executive Director. "This issue is so important to bank directors that we could not afford to sit back and be passive. We need to ensure that directors are getting information they need to fulfill their responsibilities in the boardroom. We will get that information from HCL JMI."

Regulatory pressure on bank directors to take personal responsibility for Y2K compliance or face legal consequences continues to build. By working with HCL JMI, AABD can offer its members access to cross industry-tested systems, redevelopment tools, methodologies, and processes that have been used to complete nearly 30 Y2K compliance projects of all scopes and sizes for banking and other major industries.

Also included in HCL JMI services is its ITAA (Information Technology Association of America) certified Y2K testing and validation methods. A reliable testing and validation method is a timely concern among bank directors, according to industry surveys and government studies that reveal most banks have yet to address this phase in their compliance projects. Furthermore, in any standard Y2K renovation project, the testing and validation process can consume almost half the resources allotted, making it perhaps the most crucial and technologically difficult phase.

For HCL JMI, AABD's banking expertise serves as an invaluable resource to assist HCL JMI in delivering its banking solutions. In addition, HCL JMI will benefit from AABD's advice on emerging trends that will require new solutions to assist their bank clients past the year 2000.

"HCL JMI and AABD benefit equally from this working relationship," said Ron Galarza, HCL JMI's Financial Services Executive. "For our company, these strategic relationships are vital as we continually serve and expand vertical markets. The financial sector, particularly the banking industry, has been a high priority for us. Working with AABD will strengthen our ability to help the financial services industry better serve its customers in an era of accelerating technological development."