Russian Banks Enter The Computer Age

The Russian Republic is gearing up to push its backward banking system into the 20th century. On Sept. 24, the Russian government signed a preliminary agreement with American Telephone & Telegraph's NCR unit to computerize the Russian banking system. The contract is worth up to $1.5 billion. The deal would involve installing computers, automatic teller machines, and communications equipment in up to 40,000 Russian savings banks over the next five years.

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