Bank technology

With the secondary market for subprime loans moribund, one lender is experimenting with innovative, nonbank services that could make its debt easier to sell.

Citigroup Inc. is winding down the first phase of a contactless payment test with the New York Metropolitan Transportation Authority.

The electronic bill payment specialist iPay Technologies LLC struck two deals in a week to offer its services through online banking software providers.

Bank of America Corp. is fighting fraud by teaching customers at the exact moment they are fooled.

The table lists daily composite stock prices at 4 PM (unless otherwise noted) as measured by market capitalization.

Online Resources Corp. landed several new clients in the first quarter and narrowed its loss but said that these gains could be offset in the seasonally slow second quarter.

Executives of Fidelity National Information Services Inc. said Wednesday that cost-cutting and international growth offset weak domestic sales in its first quarter.

Online banking is so easy and convenient that Americans now take it for granted. We pay bills online, transfer funds between accounts and even open brokerage accounts in a matter of minutes.

Some large financial companies are offering electronic payment systems for corporations making recurring payments to their suppliers, but the Internet banking outsourcer Online Resources Corp. is aiming at payments for the little guy.

Liberty Bank in Middletown, Conn., has chosen COCC in Avon, Conn., to replace its in-house core banking system with COCC's outsourcing service, the vendor announced last week.

Prosper Marketplace Inc. plans to launch a secondary market for bank loans today.

A former unit of Fiserv Inc. that invested retirement plan money with Bernard Madoff should have recognized his Ponzi scheme after repeated warnings from a financial adviser, according to an amended lawsuit filed last week against the Brookfield, Wis., banking technology vendor.

The investment firm Jefferies & Co. downgraded its recommendation on shares of Intuit Inc. on Monday to "hold," from "buy," saying the company could face pricing pressure as it offers more products online.

3i Infotech Ltd. announced an agreement Monday to buy JPMorgan Chase & Co.'s national retail lockbox business.

The table lists daily composite stock prices at 4 PM (unless otherwise noted) as measured by market capitalization.

After a rough start to the year in January, business at Metavante Technologies Inc. strengthened later in the quarter as higher transaction processing offset lower software license revenue and the company cut costs, executives said Friday.

American Express Co. is eliminating paper statements to potentially millions of corporate cardholders, whether they like it or not.