Bank technology

A bankruptcy court last week approved a bidding process for the assets of the payment processor Cynergy Data LLC.

Five credit unions have agreed to use core processing software from Fiserv Inc. The Brookfield, Wis., banking technology vendor said Wednesday that the new customers are also planning to use additional products, including online banking, card services, loan origination and check imaging.

With weak growth projected for its main business of archiving check images, Viewpointe LLC is expanding into new markets.

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JPMorgan Chase & Co. announced its Virtual Remit service Tuesday, targeting lockbox customers that also receive payments at other locations, such as their corporate headquarters.

Phishers figure out how to intercept communications between consumers and bank Web sites; Apple's iPhone anitphishing feature hard to follow; and more.

First Data Corp. is developing a security format that could assuage merchants' concerns about encrypting card data at the point of sale.

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Heartland Payment Systems Inc. is offering its restaurant clients a payment analysis application developed by Restaurant Magic Software.

Consumers in the United Kingdom wrote 711 million checks in 2008, down 47.3% from 2003, according to a report released last week by Cheque and Credit Clearing Co., a British trade group that manages the country's check-clearing system.

S1 Corp. has introduced a mobile banking application for Apple Inc.'s iPhone that its financial company clients can offer to their customers.

Tyfone Inc. has received a patent for its system that enables people to use removable memory cards to add payments capabilities to their mobile phones.

Bank of America Corp. has become the top provider of mobile banking services, according to data compiled by the market research company ComScore Inc.

Facing rising printing and postage costs, credit card issuers are taking a tough look at the practice of mailing paper statements to customers every month.

As Federal Housing Administration mortgage originations surge, quality underwriters with experience working on such loans are in hot demand. Some lenders are using technology to gain an edge in recruiting these pros.

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Banks that quickly reimburse customers for funds lost to fraudulent transactions are more likely to retain them, according to a study released by the security software provider ACI Worldwide.

A survey published last week by the Independent Community Bankers of America said 52% of community banks increased their budgets for payments projects from 2007 to 2009, while only 11% cut spending.

A survey published this week by the Independent Community Bankers of America said 52% of community banks increased their budgets for payments projects from 2007 to 2009, while only 11% cut spending.

Jack Henry & Associates Inc. says it processed more than 23 million remote deposit-capture transactions in July and August, an internal record.