With the signing of its newest client last week, Intelidata Technologies Corp. entered the outsourcing business.
BancWest Corp. of Honolulu will use Intelidata's on-line banking and bill payment software in a service bureau. Terms of the three-year contract were not disclosed.
Intelidata is currently building the service bureau that will operate the system.
Intelidata's stock closed at $3.10 on Friday, up from $2.75 the week before.
BancWest, which has $16.3 billion of assets, was formed last year by the merger of First Hawaiian Inc. and Bank West Corp. of San Francisco.
BancWest can bring the entire system in-house at any time or run parts of the system itself as its customer base increases.
BancWest opted to outsource so it could focus on year-2000 efforts and merging operations.
Intelidata will be paid on a per-customer, per-month fee schedule, said Alfred S. Dominick Jr., the president and chief executive officer of Intelidata.
Web sites for the BancWest subsidiaries First Hawaiian and Bank of the West will be designed and implemented by Home Financial Network Inc. of Westport, Conn., a partner of Reston, Va.-based Intelidata.
Intelidata and Home Financial Network had announced a merger agreement in April, but after a review of accounting issues they decided in May to instead form a joint venture to market Home Financial's Total Web Banking and Intelidata's Interpose product family under the name Interpose Connect.