Bank tech-trends News
 

March 19 - March 23, 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

Hewlett-Packard has introduced three new Compaq business computers that meet Energy Star 4.0 specifications. The HP Compaq dc5700, dc5750 and dc7700 desktops are available with 80% efficient power supplies. Configuring the PCs with the power supplies and other Energy Star hardware requirements can reduce total system power consumption by as much as 52%, which translates into an average annual cost savings from $6 to $58 per PC. The HP Compaq dc5750 desktop starts at $609; while the HP Compaq dc5700 and dc7700 start at $899 and $959, respectively. 

Seagate Technologies has debuted the first laptop hard drive with native encryption capabilities, which is aimed at protecting data if a machine is lost or stolen. While there are many software-based encryption technologies available, Seagate's Momentus drive is the first to employ firmware-based encryption at the laptop drive level. Seagate says that their hard drive is less expensive than encryption software and does not consume CPU cycles. The drive comes in 80GB, 120GB and 160GB capacities. The encryption feature will add about 25% more to the cost of standard Seagate SATA drives and will retail for about $150 for an 80GB drive.

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

While Microsoft is touting that their new operating system Vista offers greater security and stability, it is unlikely that many ATM operators will deploy it any time soon. Many industry observers believe that ATM deployers are likely to be reluctant to upgrade to Vista, since upgrades to Windows XP from Windows NT and OS/2 have been so recent.

Ingenico has come out with technology designed to combat "shoulder surfing" at point of sale terminals. The device, which takes the form of a magnifying case encompassing a regular PIN pad, distorts the view available from any other angle except the cardholder. An added benefit is that it will help visually impaired users. The product, dubbed ViewSafe, is being piloted in England. Ingenico has nor revealed if they plan to market an ATM version.

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A Dutch company by the name of ID Control BV wants to fight online identity theft and fraud with users' unique and characteristic typing behavior pattern recognition. Their KeystrokeID software is based on the recognition of a person’s typing rhythm during logon of their username and password. The system employs keystroke dynamics which are measured through ‘dwell time’ (the time a key is pressed), and the ‘flight time’ (the time between “key down” and the next “key down” and the time between “key up” and the next “key up”). When the typing behavior of the user is recorded, it is compared to an algorithm with the unique keystroke behavior of a previous session. 

Biometric authentication has met considerable market resistance, mostly because of integration issues, accuracy and cost. However, proponents say that all of these issues have been addressed. We will cover how one system gets implemented in the upcoming issue of BANK tech-trends - subscribe today.

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First Data has partnered with Germany's NCS to offer mobile payment processing services to its merchant and financial institution customers worldwide. First Data says the joint service offering will be based on NCS's Crandy mobile payment system which enables consumers to use their mobile handsets to make mobile and Internet transactions, including person-to-person transfers. First Data says banks signing up for the system can offer m-payments to merchants and customers via a white label package. 

Provenir has published a white paper titled “Multi-Channel Banking: Banks Go Mobile. Again.” The paper covers such topics as “what has stopped FIs before?”, “What has changed?” “Technological advances” and “challenges with mobile banking”. It can be downloaded from their website: www.provenir.com.

The Clearing House Payments Company and the Financial Services Technology Consortium announced a joint initiative to help the financial services industry identify ways to facilitate mobile payments for consumers and businesses. The initiative will focus specifically on two areas: 

1. Mobile proximity payments, which are payments made at attended or unattended point-of-sale terminals using near field communications (NFC) or other contactless technologies, and 
2. Mobile person-to-person (P2P) payments, which involve the movement of funds from one individual/account to another.

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According to research from the University of Washington, only about a third of 550 data breaches between 1980 and 2006 were attributable to malicious hacks, whereas 60% happened as a result of organizational mismanagement. Their research shows that organizations that accidentally expose their data are often to blame due to administrative errors, insider abuse, stolen equipment and the like. 

RSA, the Security Division of EMC, announced it will launch its new RSA FraudAction Anti- Trojan service. This service is designed to provide a proactive, layered approach to dealing with financial crimeware and advanced attacks. The solution will cover the identification, analysis, blocking, and shutdown of attacks. 

Visual Defence, a security convergence company, is targeting banks with their Video Recording (DViR) platform. DViR provides banks with a redundant, scalable platform supporting video motion detection, pre- and post-alarm recording, wireless access and two-way audio. Visual Defence also offers a convergent ‘Branch in a Box’ solution that combines traditional physical security technologies with digital content delivery solutions via the network in a managed service environment. 

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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SECURITY: 

Finding a Balance between Security and Convenience

Arcot - http://www.arcot.com   Read R. 'Doc' Vaidhyanathan's comments: http://www.banktt.com/roundtable/Arcot.pdf

Code Green Networks - http://www.codegreennetworks.com   Read Chip Hay's comments:   http://www.banktt.com/roundtable/CGN.pdf

Comodo - http://www.comodogroup.com   Read Andrew J. Pynes' comments:     http://www.banktt.com/roundtable/Comodo.pdf

Corillian - http://www.corillian.com   Read Greg Hughes' comments:    http://www.banktt.com/roundtable/Corillian.pdf

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

e-DMZ Security - http://www.e-dmzsecurity.com   Read Kris Zupan's comments:   http://www.banktt.com/roundtable/e-DMZ.pdf

Intrusion - http://www.intrusion.com   Read Jay Barbour's comments:   http://www.banktt.com/roundtable/Intrusion.pdf

MagTek - http://www.magtek.com   Read Kiran Gandhi's comments:   http://www.banktt.com/roundtable/MagTek.pdf

Network Armor - http://www.networkarmor.com   Read Stephen Goldsby's comments:   http://www.banktt.com/roundtable/NetworkArmor.pdf

Perimeter Internetworking - http://www.perimeterusa.com   Read Kevin Prince's comments:   http://www.banktt.com/roundtable/Perimeter.pdf

RSA Security - http://www.rsasecurity.com   Read Marc Gaffan's comments:     http://www.banktt.com/roundtable/RSA.pdf

SecureWorks - http://www.secureworks.com   Read Jon Ramsey's comments:   http://www.banktt.com/roundtable/SecureWorks.pdf

TriGeo Network Security - http://www.trigeo.com   Read Michelle Dickman's comments:   http://www.banktt.com/roundtable/TriGeo.pdf

WhiteHat Security - http://www.whitehatsec.com   Read Jeremiah Grossman's comments:   http://www.banktt.com/roundtable/WhiteHat.pdf

WinMagic - http://www.winmagic.com   Read Joseph Belsanti's comments:   http://www.banktt.com/roundtable/WinMagic.pdf

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Silicon Valley-based Goodmail Systems offers a CertifiedEmail service which they claim is the only system of its kind that assures delivery of opt-in email with all links and images automatically rendered intact. It touts AOL and Yahoo! as its clients, and says that about 30% of its customers are in the financial services sector. Naturally, stamped email costs money - Goodmail charges a quarter cent per mail. Other email certification and authentication vendors include: Goodmail, Habeas, Return Path, Strongmail, SendMail, Microsoft, Entrust, Secure Computing/CipherTrust, Acxiom Digital, Internet Identity, IronPort Systems, Message Systems, Tumbleweed and LashBack. 

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Visa is planning to test a magnetic stripe payment card that is capable of generating a dynamic card verification value (DCVV), an authentication code created for every transaction. Visa is hoping the security feature will make it more difficult for skimmers to use stolen data to create cloned cards. Criminals who do manage to skim data from the card would only have an old DCVV. Using this old authentication code would allow Visa to recognize a fake card and block any transactions using that card. 

AOL founder Steve Case's latest venture is a new payment system called GratisCard. To entice merchants to accept GratisCard, the company plans to charge low interchange fees: just 0.5% of the cost of a purchase. GratisCard say it will offer consumers and retailers better security via encryption, the use of PINs, and the fact that the cards have no name or account number on the front. The back has a 16-digit verification number, a bar code, and a magnetic stripe that does not store actual cardholder data. The stripe has values that enable GratisCard to link transactions to the legitimate cardholder. 

Revolutionary Convergence of Security Technology for Secure Internet Banking!

MAGENSA, a Trusted Verification Authority that provides real-time remote-hosted credential authentication services, allows credit unions to integrate PCI and FFIEC compliant multifactor authentication, data encryption, website authentication, and data federation capabilities into existing infrastructures.

MagneSafe P55 is a portable encrypting card reader with MagnePrint card authentication technology. In conjunction with MAGENSA, the MagneSafe P55 is designed to offer secure Internet banking, empowering consumers with the freedom and confidence of knowing that their transactions are secure and protected anytime, anywhere. Additionally, the MagneSafe P55’s LED provides a visual cue for the user to indicate when a secure connection to an authentic website has been established.

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

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Internet Access

Many organizations outsource their Wide Area Network (WAN) to third parties, but now sales of Local Area Network (LAN) management services by carriers such as Verizon Business and AT&T as well as systems integrators such as IBM and EDS are rising at a fast clip. For example, Verizon Business provides network monitoring, maintenance, repairs, traffic analysis and reporting on both WANs and LANs. Experts say the lines between LANs and WANs are blurring especially for organizations that use Voice over Internet protocol (VoIP), making it easier for IT executives to feel comfortable outsourcing management of their entire network.

Vocalocity, provider of hosted voice over IP services for small businesses, has established a partnership with VoIPSupply.com, an online retailer of voice over IP hardware and software components. With the collaboration with VoipSupply.com, Vocalocity plans to offer 500 minutes of VocalocityPBX service with the purchase of one of the recommended IP phones. Vocalocity is also allowing potential customers to test the service with no strings attached. Users will have access to features such as: voicemail to email, follow me, music on hold, simultaneous ring, conference calling, and call queuing.

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Call Centers

Mitel offers call centers their Contact Center Enterprise Edition which is a scalable communications platform that supports for voice, e-mail, web chat, and fax. Also included is automatic call distribution (ACD), and a suite of modular Web-based applications for streamlining contact center management. Mitel’s updated Customer Interaction Solutions portfolio utilizes 'presence' which is a set of system features that let users specify when and how they are available, and to quickly check on the status of co-workers. In action, customer service representatives in the call center can easily access presence information for subject matter experts located in other parts of the bank.

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