Heritable & General invest in Java

NEWS The Heritable & General Investment Bank, a subsidiary of First Union National Bank, has bought a financial management and banking system that is written entirely in Java. Heritable says it is using the software - called Phoebus Version 3 - because it is cheaper and more flexible than non-Java alternatives. The company was also looking for something that did not tie it down to a particular hardware or software in future development. Fullduplex IT Group, the consultancy who sold the system to Heritable, stressed the ecommerce potential of a Java-driven product. Heritable & General also plans to use the system to let its loan executives go to clients with a laptop and dial in from the field.