Bank technology

Citigroup Inc. is evaluating a new mobile service that monitors where people do their shopping, but has no actual banking functions.

Prepaid card companies are making it possible to have the benefits of a bank account without actually having a bank account.

MShift Inc. has filed a patent infringement lawsuit alleging that Intuit Inc. is using its mobile banking technology.

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Mobile phones are expected to become an important e-commerce channel, but there is much less demand for person-to-person payments capabilities through handsets, according to two recent reports from Allied Business Intelligence Inc.

Finnish company may have been breached by U.S.-based hackers; despite "meticulous" security, company lost $100K of ACH transfers; vulnerabilities exposed in file-sharing programs; ATM proves too tough to crack; and more.

Visa Inc. said it has hired an executive from the GSM Association, a trade group for wireless telecommunications, to lead its mobile payments efforts.

Harland Financial Solutions Inc. said it has signed more than 100 clients for its Cavion Mobile Banking Professional application.

Intuit Inc.'s Mint.com personal financial management Web site is adding an online forum for customer support.

Oracle Corp.'s string of acquisitions in the banking technology market has prompted concern among some of the established players in the market.

Banks are not legally liable for fraud losses on business accounts, but some security vendors are focusing more attention there anyway.

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Consumers who have experienced card fraud are generally pleased with their issuers' responses, according to Auriemma Consulting Group.

Nautilus Hyosung America Inc. has developed an automated teller machine that also sells lottery tickets.

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CashEdge Inc. has begun offering a version of account aggregation that it says is simpler to deploy with complex financial software.

Guardian Analytics Inc. announced a new online fraud detection system meant to combat the techniques used against businesses.

A steady drumbeat of acquisitions and partnerships at International Business Machines Corp. in the past year has been aimed at positioning the company to win more banking business.

U.S. banks may be dropping their resistance to one of the world's fastest-growing payment card security formats, despite the prospect of increased costs.

U.S. banks may be dropping their resistance to one of the world's fastest-growing payment card security formats, despite the prospect of increased costs.