Bank technology

Banks have known for a while that it will take time to realize the cost savings and efficiencies that are supposed to result from the replacement of paper checks with digital images.

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Banks are using incentives to encourage college students to open accounts online and connect the accounts with their parents'.

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Many financial companies have enrolled customers for an Internet service, but far fewer have had much luck with follow-up sales.

Sumitomo Mitsui Banking Corp. says it is finding new uses for a risk analysis system it developed using the e-Work business-process management software from Metastorm Inc.

S1 Corp. calls the new version of its technology platform a major step toward delivering a single system that can run almost all of a bank's operations.

Much of the talk about image settlement has focused on how banks can accelerate the clearing process by sending images to each other, and scant attention has been paid to how the checks arrive at the banks.

Though many corporations have realized the value of electronic payments, government agencies that process large numbers of taxpayer remittances have been less eager to install similar systems.

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After an aggressive acquisition campaign in this country, Fidelity National Financial Inc. is turning its attention elsewhere.

International Business Ma-chines Corp. has started selling an advanced Internet search service that it says can help banks learn more about their customers and spot terrorists who try to open accounts.

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Citigroup Inc. said Monday that it had agreed to spend $112 million to increase to 87% its stake in an Indian outsourcing operation that it founded.

Realizing that people who are interested enough in a banking product to submit a query through a Web site are strong sales prospects, banks are working to reply more quickly to those questions.