Bank technology

Banks are increasingly turning to text-messaging technology as a way to reach their customers.

SunGard Data Systems Inc. plans to spin off its disaster recovery business.

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

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By offering a hosted version of its image-exchange software, The Clearing House Payments Co. plans to extend its clearing and settlement service to all 1,600 institutions that use the company for check processing.

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Consumers have long said they wanted an easier way to move their money electronically, but bankers have been wary that making such a service available would simply allow their deposits to flow out to other financial institutions.

Bank of America Corp.’s decision to convert its entire telecommunications network to use Internet voice systems highlights the growing acceptance of the format as a mainstream technology, an analyst said.

Bank of America Corp., which says Six Sigma statistical analysis has improved efficiency and saved it more than $2 billion, is now using the technique to speed up its deposit business.

Wells Fargo & Co. has expanded the number of Mexican bank branches and automated teller machines that can receive cross-border wire transfers through a deal with Grupo Financiero Banorte of Monterrey.

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U.S. Internet banks are being hurt by their reluctance to try services and strategies that are doing well overseas, a Celent Communications analyst says.

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Bankers and their technology vendors are attempting to automate health-care payment systems as insurers and providers wrestle with complex federal regulations and mounting paperwork.

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

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