BANK tech-trends News
 

October 29 - November 2, 2007

• 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

Smaller banks may want to take a look at the Canon ImageClass MF4270 which is a basic and inexpensive mono multifunction printer. This $299 Canon multifunction features office-friendly features including an automatic document feeder, networking, and a duplexer. It lacks some of the more advanced features, however, such as fax forwarding and onboard scanning found on more expensive mulitfunctions such as the Lexmark X342n and the Dell 1815dn that some busy offices may require. If you need a multifunction for only basic print, scan, and fax needs, the affordable Canon ImageClass MF4270 could be a good choice.

De La Rue is upgrading some of their cash-handling systems. The Vertera model has improved sensor technology and an upgraded note-handling module, which the company says removes the need for manual sorting, sifting and filing of currency before it is transferred to the machine’s safe. Meanwhile, the Quick Change, a coin-sorting machine, now features more options for functionality, size and pricing. 

SSDs, or solid-state drives, sometimes referred to as flash drives, use no moving parts. They consist of large quantities of RAM attached to an appropriate interface. Once packaged, the drives are no different from regular hard drives with spinning platters. Experts say that the replacement for platter-based disk drives will change the way organizations view storage for workstations and data centers. We will cover SSDs in the upcoming issue of BANK tech-trends - subscribe now.

MagTek®’s ExpressCard 1000 is the industry’s first “ALL-IN-ONE” instant issuance and complete card personalization platform forCredit, Debit, ATM, and Financial Gift Cards designed to fit securely and comfortably within a branch location.

For the first time, card personalization features such as color card-printing, magstripe encoding, smartcard encoding, card embossing, indent printing, and foil tipping have been combined into a single device which provides both the physical and logical security features required to meet the demands of a branch or retailer’s card issuing environment.

Equipped with MagnePrint® card authentication technology (www.magneprint.com), the ExpressCard 1000 offers the capability to capture the card's reference MagnePrint at the time of card issuance so that reference value may be used in conjunction with complementary risk management analytics with card present transactions. The ExpressCard 1000 can be connected as a peripheral to MagTek’s IntelliCAT and MCAPS 3000 PIN selection and instant issuance software suites creating a complete and secure card issuing platform.

For more information on ExpressCard 1000, go to www.magtek.com or call your MagTek sales representative at 800-788-6835.

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ATMs/Kiosks

Innovative Card Technologies and eMue Technologies have jointed developed an ATM card that boasts an integrated numeric keypad. This way, you can enter your PIN on the card itself, rather than risk the possibility of entering your secret code into a compromised machine. One potential application is that a "user could enter their PIN number into the card and be provided with a one-time use numeric passcode. To authorize a transaction that passcode would then be entered into a device where it would be validated through an authentication server, allowing the transaction to be completed."

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Atrua Technologies, a provider of Intelligent Touch Controls for mobile handsets, announced that it provided the fingerprint recognition solution on the Kyocera handsets used for the successful mobile payments trial conducted by Cellular South, the nation’s largest privately held wireless provider. This trial, the first in the US to use fingerprints to access payment cards, launched in May 2007 to users in Tennessee and Mississippi with the aim of driving awareness and adoption of m-commerce combined with innovative fingerprint touch control features that add both time-saving convenience and security to m-commerce applications. The trial was deemed a success with 87 percent of WirelessWallet testers interested in using the mobile payment technology when it became available to Cellular South customers.

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Sybase 365, a subsidiary of Sybase, announced the availability of Sybase mBanking 365. Sybase mBanking 365 provides secure and direct multi-channel interaction with customers over all mobile messaging channels - SMS, WAP, and rich client. Services such as account activity alerts that notify customers of potentially fraudulent transactions in real time, and simple activities, such as balance inquiries, are supported. Sybase mBanking 365 also features support for natural language and interactive banking services. 

According to a new Aite Group report, titled "Mobile Banking Security: The Black Cloud Attached to the Silver Lining," the same types of attacks that have plagued the online world will inevitably migrate to mobile. They says that the lack of end-user education regarding potential threats across mobile devices, combined with millions of transaction-enabled handsets and the global reach of the mobile Internet, ensure that wide-scale attacks over the mobile network are a certainty. "Though there is nothing that can be done to stop attacks from happening once mobile devices become viable mechanisms for financial transactions, financial institutions must not shun offering mobile transaction services," says Nick Holland, senior analyst at Aite Group.

A major wireless company has come out with a mobile data card that doubles as a laptop security mechanism. We will cover it in the upcoming issue of BANK tech-trends - subscribe today.

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Sophos recently published the results of research into the types of user that businesses fear is most likely to expose networks to IT threats. The survey showed that the greatest threats come from: 

Guests: 11%
Contractors/outsourced labor: 14% 
Remote and mobile employees: 31% 
Standard employees: 44%

The Sophos report concluded that "irrespective of where the problem lies, the answer is the same. Smart network access control solutions can help organizations comprehensively enforce their security policies, ensuring that any non-compliant device, whoever it may belong to, is locked down and unable to jeopardize the network." 

Phoenix Technologies, a company better known for BIOS manufacturing, has entered the device management market. The company announced Phoenix FailSafe, which they have termed as a "command and control" system for laptop PCs. Information about the PC such as IP and Wi-Fi connection information, GPS location information, etc is periodically sent to Phoenix's datacenter where the information is stored. In the event that a laptop is lost or stolen, a user can log into Phoenix's web management system and report the laptop is stolen, encrypt the PC, or disable the PC via a BIOS lockout. When a web camera is integrated into the laptop, Phoenix's FailSafe has the ability to record the image of the user at the keyboard, which can be useful in prosecuting whoever stole the notebook. 

If your bank would like to provide some extra training and information on counterfeiting to your tellers and other cash-handling employees, the Secret Service has a nice website available just for this purpose:

http://www.secretservice.gov/know_your_money.shtml 

MAGENSA™ is a trusted verification authority (TVA) that provides real-time remote-hosted credential authentication services. These services enable banks, businesses, and government agencies to integrate PCI DSS and FFIEC multi-factor authentication and end-to-end data encryption capabilities into their existing processing environments without the need for substantial financial investments or massive changes to the existing infrastructure.

Specifically tailored to enhance the security of internet banking and ATM applications, MAGENSA delivers unprecedented security and authentication using the familiar magstripe card credentials (secure tokens) that a bank has already issued to its customers. MAGENSA is powered by the trusted and proven card authentication technology known as MagnePrint® (www.magneprint.com). MagnePrint differentiates a customers’ authentic magstripe card from an altered or counterfeit version, transforming the traditional magstripe card into a powerful security token.

MAGENSA’s Secure Data Center (SDC), a reliable 24x7 operations center that is maintained 365 days a year, simplifies the integration of data decryption and MagnePrint scoring into existing websites, and allows for data federation across institutional domains.

For more information on MAGENSA, please visit www.magensa.net or call 877.MAGENSA.

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ONLINE BANKING: 

Embraced by Customers - The Next Steps

Digital Resolve - http://www.digital-resolve.net Read Dennis Maicon's comments: http://www.banktt.com/roundtable/DigitalResolve.pdf

First Internet Bank - http://www.firstib.com Read David Becker's comments: http://www.banktt.com/roundtable/FirstInternet.pdf

Microsoft - http://www.microsoft.com Read Greg Haislip's comments: http://www.banktt.com/roundtable/Microsoft.pdf

Open Solutions - http://www.opensolutions.com   Read Michael D. Nicastro's comments: http://www.banktt.com/roundtable/OSI.pdf

TowerGroup - http://www.towergroup.com   Read George Tubin's comments:   http://www.banktt.com/roundtable/TowerGroup.pdf

uMonitor - http://www.umonitor.com   Read Dinesh Sheth's comments:   http://www.banktt.com/roundtable/uMonitor.pdf

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A recent survey from research firm Gartner found more consumers switch financial institutions over issues with their fee structures than over security. Their report found that 20% of consumers switch financial institutions over fees while only 4% do so out of concern their institution is not protecting their confidential data.

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Alogent, a leading provider of enterprise deposit automation technologies, announced its go-to-market strategy module as a value-add to the company's Sierra Xpedite Remote Deposit Automation solution. The initiative is designed to assist banks in delivering remote deposit capabilities to small businesses. The new module's components are brandable, and include tools such as marketing project plan templates, customizable/printable brochures, posters and inserts, end-user documentation, direct marketing resources, and other ready-made materials. 

Despite the growth and revenue potential of small business online banking, many financial institutions continue to under-serve this vital market. TowerGroup estimates that by the close of 2007, over 50 percent of U.S. small businesses will utilize the online banking channel. Small business use of online banking grew dramatically from 1998 to 2007, and TowerGroup estimates a further 10 percent penetration by 2010. The report states that "the most savvy banks are using small business online banking to provide multiple-user access, electronic payments, cash management services, and innovative features." They added that in order to retain existing small business customers, banks offering minimal features must expand online capabilities.

Revolutionary Convergence of Security Technology for Secure Internet Banking!

MagneSafe^TM P55 is a portable card reader/authenticator with four key technologies for secure online banking: Cardholder Data Encryption, MagnePrint^® card authentication technology, Website Authentication and Track 1, 2 and 3 card reading capabilities. In conjunction with MAGENSA^TM, the MagneSafe P55 is designed to offer secure, multifactor authentication for Internet banking, empowering consumers with the freedom and confidence of knowing that their transactions are protected anytime, anywhere.

MAGENSA, a Trusted Verification Authority that provides real-time, remote-hosted credential authentication services, allows credit unions to integrate PCI DSS and FFIEC compliant multifactor authentication, data encryption, website authentication, and data federation capabilities without the need for substantial financial investments or massive changes to the existing infrastructure.

For more information about the MagneSafe P55 or MAGENSA, visit www.magensa.net, or call 877.MAGENSA.

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Internet Access

St. Bernard Software announced a hybrid solution for Web filtering that the company says combines the control of an appliance with the ease of use of a managed service. It is called the Managed Enterprise Reporting Service for iPrism. St. Bernard’s iPrism appliance sits at an organization’s site to block employee access to inappropriate or nonwork-related websites. The hosted service stores reports on employee activity at St. Bernard’s data centers, where secure backup is also provided, officials say. Managed Enterprise Reporting Service for iPrism is priced at $1,000 per year per appliance. Pricing for the iPrism starts at $2,490. St. Bernard competes with Web filtering such vendors as Sophos, IronPort, ESoft, ScanSafe and Postini. 

Management software vendor LANDesk announced the Management Gateway Appliance, which is intended for management of laptops and other PCs located outside the firewall. Like other remote management systems, the LANDesk appliance uses agents installed on client PCs. The difference is that the new agents automatically connect to the appliance through an SSL VPN, meaning the appliance can manage laptops whenever they are connected to the Internet. Because the SSL link only connects the agent and the appliance, it doesn't route all the laptop's Internet traffic through the enterprise network. This means the appliance can also act as means of quarantine, preventing an infected laptop from transmitting malware to the network.

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Call Centers

A company called VoodooVox wants to help call centers put an end to boring on-hold messages. The company’s Web-based technology enables it to inject interactive content, mixed with targeted advertising, into any call stream, fixed or mobile. The company claims its hosted In-Call Media service helps reduce call abandonment rates and increases caller satisfaction. With In-Call, callers on hold can have the option of getting the day’s headline news, the latest sports scores, or the local weather report, simply by pushing the keys on their phone. Each of these reports is preceded by a brief (8 to 10 second) advertisement, which gives the caller the option of learning more about the product or service being offered. Should a caller be interested in the product or service, they can opt in using the keypad and hear more about it.

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