Bank technology

A patent granted this month to Bank of New York Co. Inc. may generate an intellectual-property dispute.

Metavante Corp., whose desire to become a major provider of imaging services has led it to buy four companies in the past 18 months, is now at work on the next phase of that task: stitching the acquired technologies into a single coherent business.

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A family-run bank in Texas is using advanced cash management software and other business services to compete against larger rivals, and says other community banks should try the same approach.

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Banks must compensate consumers for fraud losses. On Tuesday, E-Trade Financial Corp. said it is doing the same for its brokerage customers - even if they could have prevented the losses.

Despite the concerns some are raising about the security of online banking, banks and vendors are continuing to show interest in single sign-on technology, which is meant to make it easier for users to authenticate themselves to multiple Web sites.

Viisage Technology Inc., a Billerica, Mass., vendor of biometric authentication systems, has agreed to buy Identix Inc. of Minnetonka, Minn., for $770 million in stock.

A Cincinnati automated teller machine servicer is crying foul over Visa's 2004 decision to defer indefinitely a certification deadline for systems that can upgrade ATMs to comply with the Triple DES encryption standard.

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Two image networks say they expect the brisk growth in image exchange volume to continue this year as more banks begin clearing checks electronically or increase their trading.