Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Jury tells US Bank to pay $27m over cheque imaging patent infringements

US Bank has been ordered by a jury to pay Texas-based DataTreasury $27 million over cheque processing technology patent infringements.

30 March 2010

News/Cheque imaging

Mobile remote deposit capture set to alter bank branch economics

Strong consumer interest in mobile remote deposit capture technology will dramatically alter the current deposit-taking activities of retail banks and provide a viable roadmap to banks pursuing 'thin branch' strategies, according to a study by consultancy Mercatus.

12 February 2010

News/Cheque imaging

Burroughs reborn through acquisition of Unisys cheque business

Nearly a quarter of a century after the name disappeared, Burroughs has been resurrected by a private equity firm that has acquired Unisys' cheque and cash automation equipment business.

04 February 2010

News/Cheque imaging

UK banks set to vote on abolition of cheques

The UK's major banks are set to vote next month on whether to stop clearing cheques as consumers increasingly turn to cards and electronic transfers.

23 November 2009

News/Cheque imaging

New "green" bank selects Fiserv tech platform

A Chicago-based self-styled "green" community bank, set to open in the fourth quarter, has contracted Fiserv for the provision of an environmentally friendly technology platform.

11 August 2009

News/Cheque imaging

USAA launches iPhone cheque deposit app

USAA bank has launched an application that enables customers to deposit cheques by taking photos of them with an iPhone.

11 August 2009

News/Cheque imaging

Citi outsources US lockbox services to First Data

Citi has agreed an outsourcing agreement with First Data, handing over the core processing elements of its US lockbox operations.

16 July 2009

News/Cheque imaging

UK banks set two-year deadline to stop guaranteeing cheques

The UK Payments Council is moving to hasten the demise of paper cheques by setting a two-year deadline for the withdrawal of the Cheque Guarantee Card Scheme.

25 June 2009

News/Cheque imaging

Federal Reserve Banks to move cheque images to Viewpointe

The Federal Reserve Banks are migrating their archive of around 10 billion cheque images from an in-house system to IBM and bank-backed Viewpointe in a bid to cut costs.

15 May 2009

News/Cheque imaging

NCR develops online cheque deposit technology; mFoundry demos mobile deposit

NCR has developed a service that enables consumers to deposit cheques online using a PC scanner.

23 February 2009

News/Cheque imaging

Bank of Thailand selects Clear2Pay and OGA for cheque imaging system

Thailand's central bank has selected technology from Clear2Pay for an overhaul of its cheque processing system that will see a move away from paper to images.

20 January 2009

News/Cheque imaging

Fed to hike paper cheque processing fees 41% in 2009

The US Federal Reserve Board says it will increase the processing fees for paper cheques by 41% next year as it looks to encourage migration to electronic collection.

30 October 2008

News/Cheque imaging

Canada calls time on 11-year old cheque imaging programme

The Canadian Payments Association has decided to scrap an industry-wide image-based cheque clearing project after a checkered eleven year effort.

24 October 2008

News/Cheque imaging

Rabobank overhauls foreign cheque processing

Unisys has won a contract with Rabobank to modernise the Dutch bank's cheque processing operations.

18 September 2008

News/Cheque imaging

Wells Fargo extends mobile business banking service

US bank Wells Fargo has upraded its mobile business banking service, CEO Mobile, to enable users to initiate and approve federal tax wires.

04 September 2008

News/Cheque imaging

Fed study charts decline of cheques in favour of automated payments

The US Federal Reserve's annual study of noncash payments reveals that in 2006 more than two-thirds of all US noncash payments were made electronically.

10 December 2007

News/Cheque imaging

Chase steps up roll out of no-envelope ATMs

US bank Chase is to deploy 900 "no-envelope" ATMs that can accept up to 30 cheques per deposit in the first half of 2008 as part of plans to upgrade or replace 5000 deposit-taking units by 2010.

28 November 2007

News/Cheque imaging

India's 3i Infotech buys US payments outfit J&B Software

Indian IT services firm 3i Infotech has signed an agreement to acquire J&B Software, a Pennsylvania-based provider of payments processing services to firms in the US and Canada, for $25.25 million.

17 October 2007

News/Cheque imaging

Unisys to develop new cheque payments system for Fed banks

Unisys will design and help implement a new electronic cheque and image processing system for the Federal Reserve Bank of Cleveland, acting on behalf of the 12 Federal Reserve Banks.

30 May 2007

News/Cheque imaging

M&I to spin off Metavante - WSJ

US bank Marshall & Ilsley is close to spinning off its electronic payments division Metavante in a $4 billion transaction that will see private equity firm Warburg Pincus paying cash for a minority stake in the unit, according to a Wall Street Journal report.

03 April 2007