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Telecommunications equipment industry

InterVoice and Sprint Receive Large Orders from First Union Corporation for Interactive Voice Response Systems

Strategic Insights

— 1 min read

First Union Corporation, the ninth largest bank holding company in the nation, has placed large orders for InterVoice systems and software with Sprint, an InterVoice Value Added Reseller. The contract calls for the delivery of more than 30 InterVoice interactive voice response systems within the next 12 months, with over half of the approximately 2,000 ports ordered shipped during InterVoice's third fiscal quarter.

Key Takeaways:

  • First Union Corporation ordered more than 30 InterVoice interactive voice response systems, with over half of the approximately 2,000 ports shipped during InterVoice's third fiscal quarter.
  • The InterVoice systems will enhance First Union's automated consumer banking services, offering self-service access to personal checking, savings, and loan information.
  • The systems will also support First Union's new group of automated banking services for merchants.
  • First Union's senior vice president, Card Products Division, Steven Boehm, stated that the company's philosophy is to provide customers with leading-edge products and services that are easy, fast, and accurate.
  • InterVoice's senior vice president, sales and marketing, Dick Herrmann, mentioned that this event endorses their position as the nation's leading supplier of interactive voice response systems and services in the financial industry.
  • First Union Corporation has assets of over $86 billion and plans to acquire First Fidelity Bancorporation, a bank holding company with approximately $35 billion in assets.
  • InterVoice has installed over 6,200 systems in 46 countries, with the capacity to integrate with virtually any telephone and IS environment.

Statistics:

  • 30 InterVoice interactive voice response systems to be delivered within the next 12 months.
  • Over 2,000 ports ordered, with over half shipped during InterVoice's third fiscal quarter.
  • $86 billion in assets for First Union Corporation.
  • $86 billion + $35 billion = $121 billion estimated assets for First Union Corporation after acquiring First Fidelity Bancorporation.
  • 6,200 installed InterVoice systems in 46 countries.
  • 12 months timeframe for delivery of InterVoice systems.

Sources:

  • "InterVoice and Sprint Receive Large Orders" (Business Wire, Dec. 6, 1995)
  • InterVoice, Inc. (NASDAQ: INTV)
  • First Union Corporation
  • First Fidelity Bancorporation

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