Bank tech-trends News
 

November 27 - December 1, 2006

• Hardware News
• Software Updates
• ATMs/Kiosks
• Biometric Digest Highlights
• Wireless World
• Security Section
• Leaders Roundtable
• Technology and Marketing
• Online Banking/E-Commerce/
  Website Design
• Internet Access
• Call Centers

Hardware News

The Kano SureVault800-360 is an external storage system that supports RAID 5 and is fast and reliable. RAID 5 is where data is striped across several drives at the block level, with parity also being copied across the drives. In the case of a single drive failure, the complete data set can be rebuilt without data loss. SureVault is a 360GB storage system that supports Firewire 800, Firewire 400 and USB 2.0. Pricing starts at $1,139.

There is an old truism that says that "If you can't measure it, you can't manage it." While this is not true across the board, it certainly applies to the backup/recovery of you critical data. We will cover some important backup metrics in the upcoming issue of BANK tech-trends - subscribe now.

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ATMs/Kiosks

ATM manufacturer Triton has formed an alliance with Infonox, a leading provider of turn-key software solutions that deliver complex financial services through ATMs and kiosks. Infonox software available through Triton allows ATM owners to provide users with “on-demand” advance functionality services such as check cashing, bill payment, money transfers, and the option to purchase money orders, gift cards, movie tickets, and more through the convenience of an ATM. Triton demoed their new through-the-wall banking ATM, the FT7000, with advanced functionality running Infonox software at the recent BAI show.


ATMGuard is a web-based remote video monitoring system from Quadrox US. It is designed to detect suspicious ATM transactions and possible fraud scenarios and assist in their investigation. ATMGuard permits:

- Live monitoring and 24 hour recording of the activities in front of the ATM
- Remote monitoring and centralized protection of multiple ATM sites
- Linking synchronized transaction and video data
- Simultaneous remote viewing, recording and playback
- Remote monitoring and configuration of the system
- Longer storage of transaction video data
- Instant remote alarm notification
- Search and retrieval of transaction video based on camera, date, time, free text or transaction details.

Inetco Systems announced the launch of TRAP, a real-time transaction-performance-management software package designed to help banks and ATM processors. TRAP analyzes IP transaction streams and messages and displays them on a Web-based dashboard. The system is designed to deliver up-to-the-second transaction information that allows ATM managers to know at a glance how their ATMs are performing.

Looking to increase Brand Recognition and provide members with surcharge free ATMs?

Nationwide Money Services, Inc.’s Branded Cash Program is the answer. Fully endorsed by the VA Credit Union League and the CU 24 Network, our Branded Cash Program provides the ATM equipment, great locations, processing, maintenance, insurance, marketing rights and surcharge free transactions for your members, you only provide the cash and cash services for the ATM just as you would if you owned them. The ATMs look and act like your own, extending your reach or filling out your current market.

Our current CU partners include: AEDC, Beacon, Bronco, Carolina Collegiate, Educators, Freedom First, Food Lion Credit Association, Heritage Trust, Martinsville Dupont, NSWC, Old Hickory, Peoples Advantage, Southeast Financial and US Courthouse.

NMS also offers their ‘ATMs Made Easy’ Program for full service ATM management and placement services if you like the idea of having ATMs, but don’t want the hassle of day to day management and the associated costs for maintenance and unplanned expenses like triple DES.

For more information about the Branded Cash Program contact Bob Colabrese, EVP of Sales & Marketing at:

904-395-1147 or

bob.colabrese@GLXS.biz

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Hypercom Corporation announced a program designed to reduce identity fraud at bank branches by using Hypercom's point-of-service terminals and PIN entry devices to authenticate customers by using PIN numbers, biometric signature verification or both. The initiative includes wired, wireless and unattended hardware that can be used at teller windows, personal banking and information stations, outside bank branches during non-business hours, and in handheld scenarios with floating tellers in lines. Hypercom products available to banks include the company's Optimum multi-lane terminals and P4100 PIN pads, all of which incorporate touchscreen displays that support signature capture for biometric verification purposes, as well as on-screen graphics for guiding users through the authentication process and presenting new product ideas.

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Dell is trying to make connecting to the Internet a little easier by offering integrated WWAN support on its Latitude D420, D620, and D820 models. With Sprint's EV-DO mini card inside the systems, you will be able to connect to the Web from pretty much anywhere (EV-DO coverage supports over 220 U.S. cities) without the need for a Wi-Fi hotspot. In addition to the Latitudes, the 12-inch XPS M1210 is also getting an EV-DO upgrade. The plans start at $59 a month for unlimited data access.

Research firm the TowerGroup has identified the expanding capabilities of mobile technology as one of the “Top 10 Strategic Trends Across Financial Services.” Find out why in the upcoming issue of BANK tech-trends - subscribe today.

According to a new survey from Peppercoin and Ipsos Insight, consumers are ready to make small purchases with contactless credit cards. Currently less than 1 percent of transactions under $5 - which add up to $1.3 trillion in purchases - are conducted by card. The firms found that more than 50 percent of survey respondents said they would use contactless cards to buy groceries, items from fast food restaurants or corporate cafeterias, or gasoline; and more than 40 percent would use contactless cards to pay for convenience store items and transit fares, coffee or parking.

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Carnegie Mellon University recently concluded a test of antiphishing toolbars and the results were not too promising. According to their report entitled "Finding Phish: An Evaluation of Anti-Phishing Toolbars", Earthlink, Netcraft, Google, Cloudmark, and Explorer 7 detected only 85% of fraudulent websites, while the rest of the vendors scored under the 50% mark. "Overall, we found that the antiphishing toolbars that were examined in this study left a lot to be desired," the authors concluded. "Many of the toolbars we tested were vulnerable to some simple exploits as well."

West Palm Beach-based Secure Card Technologies has come out with SecureCard which they claim is designed to completely eliminate credit card fraud. Using an authentication and authorization platform, SecureCard utilizes an additional layer of security that displays a random authentication number on the computer chip-embedded credit card powered by their new battery technology and an organic light-emitting diode (OLED) screen. The authentication dynamic code that is assigned to that transaction and consumer changes every 60 seconds. Synched with a secure authentication server, the authentication number is verified for validity using a time-based algorithm before the transaction is approved. Additional security is provided by a secret PIN known only to the cardholder for recurring transactions from trusted merchants.

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Stay Tuned for Upcoming Leaders Roundtables! 

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Rewards programs for credit cards have been around for years, but debit card rewards programs are just now coming into their own. According to Visa, only about 10% of debit cards in the market today are tied to a rewards program, but that is a huge improvement over just a few years ago when that figure was just 2%. Learn more about debit card rewards programs in the upcoming issue of BANK tech-trends - subscribe now.

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Research firm Gartner is estimating that only about two-thirds of the financial institutions in the U.S. are likely to have stronger authentication processes in place by the FFIEC's ‘deadline’ of January 1st 2007. However, many security experts believe that banks must not only comply as soon as possible, but need to look beyond FFIEC rules because the FFIEC guidance in and of itself is insufficient against emerging security threats. We will cover some security options beyond the guidelines in the upcoming issue of BANK tech-trends - subscribe today and stay on top of online security trends.

Online Resources Corporation has launched some new Internet banking deployment options. banks have three choices for deploying Internet banking with the firm:

- Advantage - an ASP service, in which the software is outsourced and shared among clients;
- Command - dedicated software, customized to each bank and hosted by Online Resources; and
- Architect - dedicated software, operated by the bank on its premises, offering greater control and cost advantages for banks with their own data centers.

Security firm F-Secure is recommending that the financial services industry consider adopting their own unique top-level domain, e.g., “.bank” or “.finance” where only financial institutions could register domain names. They argue that people buying names similar to financial institutions are all too often phishers looking to exploit them for nefarious purposes. Others recommend that from a security standpoint, banks should at the very least purchase all the domains with their name (.biz, .tv, .us, etc.) if possible, and then perform a domain redirect to their .com website.

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Internet Access

The Computer Technology Industry Association (CompTIA), an organization representing business interests of the information technology industry, recently conducted its fourth annual examination of the converged communications market for small to medium-sized businesses (SMBs). Almost a third of SMBs surveyed said they plan to upgrade or replace their phone systems during the next year; almost half cited the need for saving money through streamlined business processes as a reason for adopting modern communications technology that uses a common infrastructure — the IP network. One driver for converged communications systems is the fact that these systems are becoming easier to install and maintain because they are moving from proprietary, hardware-based communications systems to software-based solutions. Proponents argue that because communications software is easy to run on an IP infrastructure, the result is that different mechanisms for communications — video, voice, e-mail, unified messaging — will converge.

Avaya supplies a variety of PBXs (private branch exchanges) that support the Session Initiation Protocol (SIP). They say that this technology allows PCs and other intelligent devices to be plugged in to the same socket as a handset. Since a PC can replace a handset or be synchronized with one, this offers many opportunities for assisting the disabled. Examples include:

- videophones for the hearing impaired to see sign language
- TTY for the hearing impaired - Avaya fully supports TTY with single calls including text in both directions
- Short Message Service - Avaya treats SMS as a channel and based on the content can route the message to a queue for the most relevant employee to reply
- for people with speech impairments, Avaya can send text as-is, or can convert it into synthetic voice (using a 3rd party such as Nuance)
- for the visually impaired, Avaya provides the Universal Access Phone Status which runs on a connected PC and will vocalize the status of a related handset, so a visually impaired person can hear the status of the handset
- for employees with physical disabilities that make it difficult to use a standard handset, Avaya offers their Softphone which can be controlled by voice activation, foot mouse, etc.

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Call Centers

UCN, a company that delivers hosted communications solutions to the contact center industry, announced the availability of its new inContact/VoIP Service, which lets organizations connect both traditional TDM (Time Division Multiplexing) and VoIP (Voice over Internet protocol) stations to UCN’s hosted inContact handling applications. The solution provides PBX functionality to regular employees as well. The system is designed to mix VoIP seats with traditional TDM seats so that organizations can start small and test VoIP without disrupting their overall operations. Users of the system can present a unified set of contact management functions and features to any agent station, no matter what voice transport technology is being used and no matter where the station is located - in the call center, at the agent's home, at the branch or at the main office. The service comes in two versions: VoIP Service for Agents and VoIP Service for Business. The Agent version provides access to the full suite of core contact handling services plus free extension-to-extension dialing between offices and at-home workers. The Business version includes all services available to agents, plus hosted IP-PBX features such as voice mail, conference calling, caller ID, call forwarding, and more.

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