J.P. Morgan & Co.'s recent $2 billion outsourcing pact is evidence that banks are managing their technology service contracts more closely than ever before, industry observers said.

The deal, struck May 13, created a four-company consortium called the Pinnacle Alliance that would provide Morgan with a wide range of technology services. The members of the consortium are Andersen Consulting, AT&T Solutions, Bell Atlantic Network Integration, and Computer Sciences Corp.

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