Bank technology

Two developments in the lockbox market last week indicate the financial services industry's efforts to promote electronic payments to corporate customers are prompting banks to consider whether they want to make the kind of investments the business increasingly requires.

The Dayton, Ohio, automated teller machine manufacturer NCR Corp. has agreed to use payment processing software from Postilion Inc., a S1 Corp. unit.

Liberty Bank of Middletown, Conn., has agreed to use online banking software from Intuit Inc.

CheckFree Corp. has provided additional details about how it plans to integrate Carreker Corp., including expanding Carreker's consulting operations and naming its chief executive a vice chairman of the Atlanta bill-payment provider.

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The financial transformation of bank vendors will probably sharpen competition and could be a catalyst for innovation in the transaction processing industry, analysts said Tuesday.

FirstBank of Nigeria PLC has agreed to use anti-laundering and compliance software from Mantas Inc., a Herndon, Va., unit of i-flex solutions ltd. of Mumbai.

The business process outsourcing provider Automatic Data Processing Inc. has spun off its brokerage services group.

Commerce Bancorp Inc. of Cherry Hill, N.J., has deployed anti-laundering technology from Fortent Inc. of New York.

CheckFree Corp. has closed its acquisition of the Dallas software vendor Carreker Corp.

The European Commission approved Citigroup Inc.'s deal Monday to buy Prudential PLC's Egg Bank.

Citigroup Inc. has developed a mobile phone banking service that will be available to all account holders with debit cards.

The table lists daily composite stock prices at 4 PM (unless otherwise noted) as measured by market capitalization.

Image volume on Fiserv Inc.'s clearing network is already showing strong growth, the company said, and should pick up even more due to its agreement to exchange images with Bank of America Corp.

First Data Corp. is buying the Polish payment processor Polcard SA, continuing its expansion in the European payment processing market.

Though financial companies have been fortifying the security of their online banking systems, many have neglected their telephone systems.

Metavante Corp. has promoted Brian C. Hurdis to president of its image solutions division and added two units to the division.