Bank technology

China Banking Corp. is planning to convert the systems of a bank it bought last year to the core processing software it has been using since 1995 from Metavante Technologies Inc. of Milwaukee.

Alliance & Leicester Commercial Bank, which provides online bill payment services to U.K. billers, said it plans to incorporate the security technology currently used in the Verified by Visa system.

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

Intuit Inc. said that it will cut 575 positions, or 7% of its work force, as part of a restructuring plan announced last week.

West Texas State Bank of Odessa is planning to use a data network operated by ERF Wireless Inc. of League City to connect its six branches.

Many automated clearing house transactions are being originated by financial companies that have no automated fraud detection system in place, according to a report released Wednesday by the Folsom, Calif., provider of risk management and anti-fraud software Laru Corp.

The New York financial technology vendor CashEdge Inc. said Wednesday that it has hired Carl D. Blandino, as its chief financial officer.

Total System Services Inc. of Columbus, Ga., has extended its agreement to process cards for Canadian Tire Financial Services, the banking division of the retailer Canadian Tire Corp. Ltd.

Several banks looking for new and edgy ways to incorporate so-called Web 2.0-style features into their marketing have latched on to online video contests.

RBS Lynk, the U.S. payment processing unit of Royal Bank of Scotland Group PLC, said it has agreed to provide processing services for Sizzler USA Restaurants Inc.

Commerzbank AG, Germany's second-largest bank, is using software from SAP AG to manage its private mortgage business.

Online financial management sites that aggregate information from multiple accounts could pose a security risk, a report concluded.

European bankers expect the Single Euro Payments Area initiative to cost them a significant amount of revenue and raise their expenses, according to a report Fundtech Ltd. released this week.

Fiserv Inc. developed its newest suite of services on the theory that lenders might be able to stem mortgage defaults if they can identify troubled borrowers before they fall behind on their payments.

Fidelity National Information Services Inc. has announced the final terms for its planned spinoff of its mortgage servicing unit, Lender Processing Services Inc.

Shares of Western Union Co. rose Friday after the Englewood, Colo., company raised its profit targets and authorized buying back an additional $1 billion of stock.

Despite opposition from an Australian regulator, eBay Inc. is urging customers there to comply with its recently issued payment restrictions, though it has delayed the start date.

The financial industry is trying to crack down on fraudsters who use high-tech payment systems, such as remotely created checks, to steal money from consumers.