Bank technology

Banking and insurance companies are spending more to combat money laundering and terrorist financing, a survey by KPMG LLP found.

International Business Machines Corp. is expanding its service-oriented architecture offerings for the financial services industry, and Ameriprise Financial Inc., an IBM customer, has expressed interest in the new technology.

Midwest Independent Bank, a Jefferson City, Mo., bankers' bank, has agreed to use imaging software from US Dataworks Inc.

Forty percent of business-to-business payments will be made electronically this year, according to a report from Marshall & Ilsley Corp.'s Vicor Inc.

The announcement by AirNet Systems Inc., the nation’s largest courier of canceled checks, that three big banks are cutting back their use of its services reflects the ongoing decline in check volume.

The struggling NetBank Inc. has appointed a new chief executive and plans to overhaul its strategy.

As bankers, vendors, and industry watchers gather this week to discuss a proposed converged payments system that would use both image exchange networks and the automated clearing house, a variety of opinions is starting to emerge.

Fidelity National Information Services Inc. says its credit card processing deal with BB&T Corp. validates its merger with Certegy Corp., which was aimed in part at boosting cross sales.

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

PayPal Inc. said it has resolved two legal disputes regarding its user agreement and customer protection programs.

ING Group NV plans a marketing campaign in certain cities to increase the market share of its U.S. online banking business.

The National Clearinghouse Association has established a registry of "image survivable security features" that could make it easier for bankers to trust digital images of the checks they process.

Jackson County Bank of Seymour, Ind., said re-presenting bounced checks electronically doubled its business customers' collection rate on the checks.

Regions Financial Corp. has started offering business customers a remote check capture service.

Bank of America Corp., JPMorgan Chase & Co., Washington Mutual Inc., and Marshall & Ilsley Corp. do the best job among financial companies in protecting customers from identity theft, according to a report from Javelin Strategy & Research.

SAN FRANCISCO - Financial companies have invested heavily in software to spot, and stop, online fraud, but some say they have found it can be hard to get law enforcement agencies to pursue the cases.

The Securities and Exchange Commission said Tuesday that it fined Bisys Fund Services, a division of Bisys Group Inc., $21.4 million, including a $10 million civil penalty, for allegedly defrauding mutual fund investors from 1999 to 2004.