Local tech company featured in The New York Times; chicken and doughnut restaurant opens in West Lawrence

A downtown Lawrence office landed in The New York Times this weekend, which has created new enthusiasm that Massachusetts Street may be home to a burgeoning tech company that aims to change the entire financial industry.

Back in September I wrote about a new financial services company called Yantra Services that had converted the former Antiques Bazaars II building at 840 Mass. into an office for computer scientists and programmers. I noted then that it looked like a business to keep an eye on, and others in the financial industry seem to agree.

The Times published an article in its DealBook section that explains how the company is looking to dramatically change everything from the debit card to multibillion-dollar transfers between banks. Specifically, the article details how the owners of Yantra have bought a bank in Weir, a small town in southeast Kansas. In addition to providing small-town banking services, the company is using the bank to test its new technology solutions for transferring money and making electronic payments.

In the banking world, the article says, it is widely acknowledged that it takes too long for financial service providers to process many payments. Banks, though, are loath to speed up the process because the quicker a bank processes payments, the less time it has to detect fraudulent transactions.

Yantra is developing a system that will allow for instant transfers from one account to another, utilizing the current technology system that powers the ATM network, according to the article. It includes a sophisticated computer program designed to quickly look at up to 40 factors to determine if a transaction is fraudulent. A few health insurance companies already are using Yantra’s system, through the bank in Weir. Companies pay a few dollars per transaction, and already the tiny bank is noticing a big difference in its bottom line.

The good news is that Lawrence is a part of this action. Yantra is based in Topeka, but as we reported in September, it wants to tap into the Lawrence market for computer scientists, programmers and other technical positions. The times article said about dozen computer engineers work for Yantra in its Topeka offices, but Yantra president and CEO Suresh Ramamurthi told me in September that he hoped to have that many or more in Lawrence at some point.

“Basically, we are looking to see if we can find the right talent in the Lawrence market,” Ramamurthi said in September. “If we can, we intend to fill the building up.”

It sure seems like Lawrence is a big part of the company’s plan. I noticed that although the company is based in Topeka, it was the company’s Lawrence office that was photographed for the article.

It will be an interesting company to watch. It appears to be the type of high-tech, high-wage company than every community is looking for these days. Ramamurthi had a successful career at Google, and his wife, Suchitra Padmanabhan, has been a bond and security analyst at Lehman Brothers and other large institutions. The couple has been in Topeka since 2002, when she took a job at the money management firm Security Benefit.

But there will be another interesting, more headline-grabbing aspect of the company to watch. The company hopes to make debit and credit cards much more technologically advanced. The Times’ article gives an example of how a parent could create a debit card for a child that could be used only during lunch hours and only in a ZIP code near the child’s school.

Oh, you can bet I’ll be keeping my ears open for news of that project for both professional and personal reasons. Think of the possibilities. My household’s balance sheet would change entirely if I could somehow restrict bulk chocolate purchases. No more large cash outlays to Hershey, no more semi-trucking fees, no more cold storage fees . . . .

Like I said, a company to keep an eye on.

In other news and notes from around town:

• Speaking of foods that have been known to bankrupt a fellow, there is a new restaurant in town specializing in fried chicken and doughnuts. I don’t have a lot of details yet, but I know news like this is a lot like a nitroglycerin tablet: There are consequences if you wait.

Harolds Fried Chicken & Donuts has opened in the Miller Mart gas station at 3300 W. Sixth St. The restaurant is closed on Mondays, so I was unable to try any chicken and donuts, but I did grab a menu. The restaurant isn’t a Dunkin’ Donuts type of place that happens to serve fried chicken. Instead, the menu touts something called “honest fried chicken,” which is served with a “warm maple glazed donut and your choice of dipping sauce.” Near as I can tell, the restaurant doesn’t serve any other type of donuts.

The menu includes about a half dozen sauces, including country gravy, a Thai chili/garlic sauce, and buttermilk ranch. It also includes something called a “grilled glazer” that is a toasted maple glazed donut, topped with a fried chicken breast, cheddar cheese and a secret sauce. The restaurant also offers side dishes such as mashed potatoes, mac and cheese, cole slaw, and even “old-fashioned chicken noodle soup.”

As I said, I wasn’t able to talk to anyone at the restaurant because it was closed today, but I’ll keep an ear out for more details.

• If your Christmas tradition is to go eat some Chinese food — a la the famous scene from A Christmas Story — you have one less option in Lawrence. The Hibachi Grill & Supreme Buffet, 3140 Iowa St., has closed its doors. No word on what happened, but there is a hand-written sign taped to the door that reads: Out of Business.

There had been some talk on social media sites that the restaurant was closed as the result of health code violations. But I talked with a spokeswoman with the Kansas Department of Agriculture, which runs the state’s food safety program, and she said the department had taken no action against the establishment.

No word on whether another business is slated to take the restaurant’s spot, which is in the shopping center that includes Kohl’s, Bed Bath & Beyond and several other retailers.