A Wit SoundView Group Inc. analyst who has initiated coverage of technology companies that cater to financial institutions says he is upbeat about the prospects of what he calls an undervalued sector.

“We think it is an opportune time to get into e-finance,” said Chris Siedman, the Wit analyst who has been following the sector for two weeks. “We are now starting to see a ramp-up where people are more comfortable managing their finances online, and electronic bill payment and presentment is poised to take off this year.”

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