Bank technology

Although business customers are loathe to give up checks, at least exceptions can be handled quicker through imaging.

Western Union announced Tuesday the launch of its Small Business Payments service.

VSoft says Meriwest Credit Union will use its technology for remote deposit capture in branches and at automated teller machines.

Fiserv said Tuesday that Momentum Credit Union in Canada is using its Acumen account-processing technology.

Seamless Distribution AB said it believes it has developed a mobile payment method that replaces the need to shop with credit and debit cards, thus saving money for merchants who no longer would have to pay card-related fees.

Casio plans to make available in February a handheld payment terminal designed for public employees who need to take card payments and provide printed receipts.

Online banking provider PerkStreet says business is booming thanks to consumer frustration over new checking fees at big banks.

As contactless card issuance grows, a provider of anti-fraud sleeves, which block the cards from being read, says demand for its product is resurging.

The $430 million Indiana bank uses new mobile technology to battle large banks and lured ten percent of its customers to download a new app in three months.

Bankrupt American Airlines may be forced to follow other airlines and dilute the attractiveness of the frequent-flier rewards points its partner, Citigroup Inc., offers to its most valued credit card customers.

The mobile banking technology provider mFoundry said Monday that it has received $18 million in growth capital.

The online loan facilitator Weemba Inc. has added three more lenders to its base of financial institutions.

Banking technology vendor USA Technologies Inc. announced Monday that it has appointed a board member, Stephen P. Herbert, as its chief executive and chairman.

PhoneFactor has added an iPhone application to its suite of out-of-band security products.

The prepaid card marketer Green Dot Corp. announced Monday that it has hired a Visa Inc. veteran, John MacIlwaine, to be its new chief information officer.

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A few weeks ago, I wrote a column describing the financial preferences and behaviors of underserved consumers by painting a picture of an archetypal consumer named Sue. Taking stock of the true needs of the underserved helps explain why traditional bank products and practices often miss the mark.

Small banks like Arkansas' Citizens Bank are taking on core upgrades to reduce costs, consolidate relationships, increase speed to market, and obtain more tools to compete against large banks.

Outspoken mobile payments executive, originally from PayPal, has left the banking world for mobile coupon company.

Lightweight phone-based merchant terminal being tested in New York, San Francisco, Dallas and Chicago.