Bank technology

Warren Buffett said his Berkshire Hathaway has invested $10.7 billion in International Business Machines this year, a major reversal for the billionaire investor who has famously avoided technology stocks.

VeriFone said Monday that it is buying the Northern European payment and gateway services provider Point to fuel its support of alternative payment forms.

First Midwest Bank has agreed to use anti-fraud technology from PhoneFactor to improve security for online banking.

The bank is using Secure Vault Payments to take security hurdles out of online donations to FamilySearch, The Church of Jesus Christ of Latter-day Saint's genealogy service, and plans to seek out other charities for similar arrangements.

At a time when banks' relationships with their customers are on the rocks, loan facilitator Weemba uses the tactics of online dating to help lenders build stronger connections.

Suggests banks could charge small business customers $150 to $300 per month for hosted electronic payments.

Vantiv Inc., parent of Cincinnati-based payment processor Vantiv LLC, filed an initial public offering of $100 million of Class A common shares, saying it will use the proceeds to repay loans and redeem Class B units.

Twenty-eight year veteran gets top role at investment unit.

Online bill payment provider sees benefit of lower interchange fees.

Javelin Strategy & Research reviewed and rated the big-bank mobile banking offerings. Chase came out on top.

The flurry of regulations emanating from the Dodd-Frank Act, Basel III and Solvency II has induced an outpouring of technology spending from companies in the financial service sector, a new report finds.

PayPal has delivered on its promise to activate contactless payments for its mobile wallet. The latest update to its app for Android handsets adds support for near-filed communication.

The bank technology vendor Online Resources Corp. reported a wider third-quarter loss to shareholders on Tuesday.

Chase Card Services said on Tuesday that it offers an online invoicing and cash management system for small-business customers using its Ink product.

Wall Street analysts throw cold water on mobile payment initiatives.

Online and mobile payments company eWise said on Tuesday that it had appointed Alexandre Gonthier as chief executive in addition to making changes to its board.

USA Technologies reported on Tuesday that it had narrowed its first-quarter loss to $78,954 from a net loss of $1.9 million a year earlier due to increased license and transaction-fee revenue.

M&T Bank has developed an anti-skimming device, appropriately called the Blocker, to prevent card theft at its ATMs by making fraudsters' tampering blatantly obvious.

Bank of America is the second major issuer to buck a recent trend by using a PIN when it offers U.S. commercial customers cards that incorporate the EMV chip-card standard that is prevalent in Europe.

Virgin Group founder Richard Branson says Square "is an incredible technology that inspires and empowers everyone to be an entrepreneur."