Bank technology

The surging use of automated clearing house transactions has been powered by tools that convert paper checks into electronic payments, a trend that is still gaining momentum, according to the Federal Reserve Board.

Online Resources Corp. expects revenue to grow next year, despite the loss of a major customer.

After years of development, the concept of "federated identity" may be moving forward.

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

The number of password-stealing programs used by fraudsters climbed during the summer, according to the Anti-Phishing Working Group.

Three more law firms have filed class actions against VeriFone Holdings Inc. in response to Monday's announcement that it would restate its earnings for three quarters.

Statewide Bank of Louisiana in Covington has agreed to use a data network operated by ERF Wireless Inc. to connect its remote branch locations.

West Alliance Bancorp. of Las Vegas has set a January launch for a browser-based reconciliation and positive pay service using technology from Trintech Group PLC of Dublin.

Allstate Corp., the nation's largest publicly held personal lines insurer, has begun offering online bill presentment through banks' online bill-payment sites, signaling a growing willingness by billers to distribute statements through external partners.

A growing number of people are turning to online person-to-person lending sites to borrow money they plan to use to pay off credit card debt.

Shareholders filed a class action against VeriFone Holdings Inc. in response to the San Jose terminal maker's announcement that it would restate its earnings for three quarters.

On the day that Fiserv Inc. completed its acquisition of the Atlanta electronic bill payment provider CheckFree Corp., Norman J. Balthasar, Fiserv's longtime chief operating officer, said Tuesday that he would retire at the end of the month.

Fidelity Investments said Wednesday that it has hired Citigroup Inc.'s chief information officer, Marvin Adams, to be the president of its shared services group.

Samson Banking Co. Inc. in Alabama has agreed to outsource its core processing to Goldleaf Financial Solutions Inc. of Brentwood, Tenn.

The latest entry in the U.S. online social lending market is a British company that is facilitating loans made to people who receive help repaying the funds from the interest paid on certificates of deposit purchased by others.

International Business Machines Corp. is working with the relief group Care International to provide technology to support microfinance institutions in Africa.

Symantec Corp. of Cupertino, Calif., said Monday that it has completed its acquisition of Vontu Inc. of San Francisco for $350 million, in cash and assumed options.

VeriFone Holdings Inc.'s stock dropped nearly 50% Monday after the terminal company said it would restate earnings for first three quarters of the fiscal year that ended Oct. 31, because of accounting errors that overstated its inventory and understated its costs of goods.