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Sovereign Banks on ASP Model

netASPx, a Herndon, Va.-based ASP announced today that it has signed a multi-year agreement to provide Lawson application support, upgrades and infrastructure to Sovereign Bank.

According a statement by netASPx, Wyomissing, Penn.-based Sovereign Bank recently implemented its accounts payable and fixed assets back-office systems on netASPx's Lawson focused ASP utility.

"The financial services industry is perhaps the most demanding buyer of application services, with exacting security, reliability, and quality standards. netASPx is therefore delighted that Sovereign Bank selected us," said John M. Whiteside, president and CEO of netASPx.

Sovereign Bank's senior vice president and controller Larry Davis said the agreement with netASPx will allow the company to reduce risk and expanding reporting capabilities.

Sovereign Bank is a subsidiary of Philadelphia-based Sovereign Bancorp Inc. , a $40 billion financial institution.

netASPx is enterprise ASP that specializes in Lawson software, including finance, human resources, payroll, procurement, distribution and services automation applications. The company's Operations Center is based in Minneapolis.


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