IBM says leasing reduces upfront expenses, allows for low monthly payments, provides budgeting flexibility and helps avoid product obsolescence.

But leasing isn't for everyone and takes some thorough cost analysis to discover if it has long-term benefits.

Today, however, experts say finding cash is the driving force behind leaseback.

"If the reporting line for the IT group goes up to the CFO, the CFO in most financial institutions today is looking to raise capital or cash," says Rod Nelsestuen, research director in the TowerGroup's financial strategies and IT investments cross-industry group.

Nelsestuen says he is seeing interest increase in leasing options, but he sees the trend as short term and driven by specific condition, although, he says leasing presents long-term value in some cases.

"By selling their platforms now, they get the cash upfront," says Nelsestuen, but he says that doesn't mean companies don't pay the entire price of the hardware over time.

"There is no free lunch," he says.

"If you are the CIO you might say 'I can come up with a lower cost of ownership by owning the hardware.' I'm not saying everyone will, but by maintaining ownership the CIO can say I can upgrade parts and pieces and, therefore, I can provide a lower cost of ownership over say five or seven years rather that four or three in a lease," says Nelsestuen.

IBM agrees that current economic conditions have fueled creative thinking within banks, but Ransdell says there are other factors that are pushing financial institutions toward lease options.

He says establishing a technology refresh cycle makes sense for those who stay current with technology, and he says IBM can ensure environmentally friendly disposal of hardware, an issue that is being mandated by legislation in some areas.

In fact, IBM factors into lease rates its opportunities in secondary markets for used computer parts or materials, according to Fred Clarke, manage of communications for IBM Global Financing.

The company says less than 1 percent of the components from hardware it handles via leasing finds its way into landfills.