Bank technology

Private-sector check processors are beefing up their operations in the nation's midsection to capture business from the Federal Reserve, which is shutting down many of its clearing sites.

Facing a growing threat from large retail banks, community banks are starting to implement remote-capture check imaging systems.

Popeye would join forces with Charlie Brown in a check-printing deal announced Tuesday: John H. Harland Co. is buying Liberty Enterprises Inc. for $160 million.

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The focus on phishing scams may be distracting banks from more important security problems, a JPMorgan Chase & Co. executive says.

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The problems at InteliData Technologies Corp. were never about the technology.

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

In the wake of the $11.3 billion leveraged buyout of SunGard Data Systems announced last week by Silver Lake Partners, the Blackstone Group, Texas Pacific Group, Bain Capital, Kohlberg Kravis Roberts & Co., Goldman Sachs Capital Partners and Providence Equity Partners, the industry has been trying to adjust its expectations for deals of the future--will there be more of the same, or was this a one of a kind, one-hit wonder that is unlikely to be seen again any time soon? Speaking with Securities Industry News' John Sandman the day after the announcement, SunGard CEO Cristobal Conde professed himself surprised by many aspects of the deal--pleasantly surprised.

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JPMorgan Chase & Co. plans to expand its use of distributed grid computing for high-powered analytic applications, and has turned to its longtime technology partner Sun Microsystems Inc. for the systems and design expertise.

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Though phishing syndicates in Eastern Europe are getting a lot of attention as a threat to banks, some technology vendors are focusing on a danger much closer to home: employees and job applicants.

Financial services companies spend huge sums of money on technology projects that they hope will make some kind of improvement.

Bank of America Corp. has joined a real-time nostro foreign-exchange database developed by Cable and Wireless PLC.

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In the largest private takeover deal since 1989, SunGard Data Systems Inc. of Wayne, Pa., has agreed to sell itself to seven buyout firms, including Silver Lake Partners, for $10.4 billion plus assumption of debt.

Wells Fargo & Co. on Monday introduced a remote-capture imaging service that could soon find its way into applications available to a wide range of consumers.

Most big banks buy or build new software applications when they need them.