Bank technology

GMAC LLC, the troubled lender partly owned by General Motors Corp., is pursuing retail banking customers with a new online bank.

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

Sometimes what you do know can hurt you.

Factors contributing to the downfall of the financial industry have been discussed ad nauseam and I suspect will continue to be debated well into the future. While I agree that identifying the root cause is necessary to ensure history does not repeat itself, financial institutions must begin the recovery process by getting back to business and back to basics.

CashEdge Inc. announced Wednesday that BNP Paribas SA's Bank of the West in San Francisco has begun offering the vendor's online account opening and funding application to its retail banking customers.

Billeo Inc. of Santa Clara, Calif., said Wednesday that it has developed a version of its online bill payment software for Apple Inc.'s Macintosh personal computers.

Canopy Financial Inc., a San Francisco provider of accounting systems for health savings accounts and other consumer-directed health care tools, said Wednesday that it is planning to offer its mobile software to users of Apple Inc.'s iPhone and iPod Touch devices.

Recognizing that storing check images has become a commodity service, the Federal Reserve banks are preparing to transfer their archive operations to Viewpointe LLC.

The National Bank of Ras Al-Khaimah in Dubai has agreed to use automated teller machine management software from S1 Corp.'s Postilion division.

Tinker Federal Credit Union of Oklahoma City has agreed to use Online Resources Corp.'s account-opening and lending applications.

Prosper Marketplace Inc. has again stopped allowing people to request loans on its Web site, which facilitates loans between individuals.

Responding to a growing interest among banks in offering online financial management tools, Metavante Technologies Inc. has agreed to offer Intuit Inc.'s FinanceWorks software to its clients.

The merchant processor Pipeline Data Inc. has acquired PayPassage Inc., a provider of payment processing software.

Two credit unions are planning to offer their members access to online communities developed at third-party personal financial management Web sites.

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

The turbulent economy and the fallout from a data breach pushed Heartland Payment Systems Inc. into the red in the first quarter.

Western Union Co. is seeking to significantly expand its business payments operations by acquiring a Canadian foreign exchange specialist.