BANK tech-trends News
 

April 23 - April 27, 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

Dell announced two new servers that use low-power AMD Opteron processors, high-efficiency processors and 2.5" hard disk drives. The PowerEdge 2970 and the PowerEdge Energy Smart 2970 both employ the company's Dual Dynamic Power Management capability which, according to Dell, facilitates better quad-core performance and power management. Some analysts believe that Dell's announcement is likely the start of a trend toward power-consciousness for conventional rack-mount servers. The PowerEdge 2970, which is priced from $1,849, is shipping now, while the PowerEdge Energy Smart 2970 will be available later this spring.

Meanwhile, IBM has introduced a new entry-level server, the System i Express, with a starting list price of $7,995 that can be shared with up to five end-users. Each group of five additional licenses costs $1,250. It comes preconfigured with an IBM operating system and IBM database, security, and system management software, though a customer could substitute other brands. Previous System i servers started at $12,000, which put them out of reach for most smaller organizations. 

Arkeia is a nine-year old company that offers two backup appliances: the EdgeFort 100 Series and the EdgeFort 200 Series. The 100 Series is designed for entry level and small businesses; the 200 Series is for midsize enterprises and remote offices. Further, the 200 Series has disk-to-disk-to-tape and encryption capabilities. The appliances start under $3,000 and include Arkeia’s backup software.

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

According to research from Javelin Strategy & Research, one of the most recommended ATM functionality enhancements among the younger generation is the "envelope-less" check or cash deposit. Their ATM Functionality Enhancements Report says that 42% of 18-24 year olds would like the ability to deposit funds at their ATM without an envelope.

The ATM Industry Association is an alliance dedicated to the global advancement and proliferation of ATMs. The group recently published global best practices for preventing insider fraud. Mike Lee, ATMIA’s chief executive, said that “one of the biggest threats facing financial services today comes from corrupt employees. Insider collusion, from all rungs of the corporate ladder, now ranks in some countries next to organized crime as the second-largest source of fraud.”

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iMagic Software announced the United States Patent Office has granted all 42 of the company's claims and issued them a patent that protects the company's method of recognizing and authenticating people by their unique typing patterns. Trustable Passwords is iMagic's Enterprise Authentication and Identity Assurance product. It works using standard keyboards, workstation and laptop, and over locally attached or remote networks, and integrates with Active Directory.

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mFoundry announced the formal release of the Spotlight Mobile Financial Platform. The company says that banks using the Spotlight Platform can create well-branded, unique mobile applications that run seamlessly and independently inside of an operator's Spotlight application. They are touting the following benefits:

• Easy - mFoundry's mBanking product has been integrated into Spotlight, providing a turn-key mobile banking solution for all banks. 
• Flexibility - Spotlight gives banks the option of customizing mBanking to provide features, functionality and brand experience specifically designed for their customers. 
• Security - Spotlight is compliant with FFIEC guidelines for multi-factor authentication, while also offering integrated customer care allowing banks to remotely disable their application. 
• Self-Support - A Spotlight application can be easily developed and maintained by the financial institution or its consulting partner using existing web development skills. 
• Broad Support - Spotlight was developed to run on nearly every secure mobile device in the market.

Silicon Valley-based Infonox announced a partnership with PayMate, a mobile-commerce solutions provider in India, to develop a suite of mobile payment products for the US market. The initial multi-application set includes mobile/cellular phone versions of transactional services like bill payment, money transfer (cross border), and POS payments at merchant locations.

London-based Gresham Computing announced the enhancement of its Clareti Connect product suite to include mobile banking. The new module enables banks to securely deliver account and marketing information in real-time directly to their customers' mobile devices. It also offers real-time transaction alerts to help prevent transaction fraud.

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Symantec has taken its initial step into the software-as-a-service market with their introduction of a set of hosted data storage and disaster recovery services for smaller organizations. The service is dubbed Online Backup Service and represents the first piece in a wider set of offerings it will introduce called Symantec Protection Network, which will eventually include a full range of hosted security tools. 

Darwin Professional Underwriters, a specialty insurance company and provider of technology liability insurance, has posted an online calculator to help IT managers calculate how much their organization stands to lose from data theft. The Tech//404 Data Loss Cost Calculator is a free, interactive tool designed to assess the impact of a data breach or identity theft data loss incident. Meanwhile, Forrester Research Inc. released its own calculations, noting that the average security breach can cost a company between $90 and $305 per lost record. 

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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According to the research firm Aite Group, U.S. financial institutions' spending on rewards program redemption and management (including technology) will grow to $18.4 billion by 2010, up from $10.3 billion in 2006. Learn more about rewards programs in the upcoming issue of BANK tech-trends - subscribe now.

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comScore has released the results of its annual online banking study - finding that the U.S. online banking population grew 9.5 percent in 2006 versus the previous year, compared to double-digit increases in 2005 (27 percent) and 2004 (47 percent). The firm noted that competition is heating up as the online banking industry matures, and that incentive programs and aggressive savings account interest rates will continue to lure new online bankers.

According to a study by ForeSee results and Forbes, online bankers who pay bills through their bank's website are more satisfied with the institution and the online banking experience than those who don't, and are significantly more likely to purchase additional services. Online banker satisfaction is highest among bill payers: 79 on a 100-point scale. Online bankers who do not pay bills via their bank's website rated satisfaction a 76 while non-online bankers scored 70. In addition to being more satisfied, online bankers are 19% more likely to recommend their bank than those who don't. 

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

Microsoft and Unisys have teamed up to launch a free online trial of Exchange Server 2007 for any user looking to take a test drive. Unisys is hosting the deployment of Exchange 2007, which will give users a look at its messaging, collaboration and voice features whether they are using a PC, a Web browser or a mobile phone. Among other features, Exchange includes unified messaging, improved ActiveSync technology for mobile devices and upgrades in Outlook Web Access. The Exchange trial version provides users access to Exchange features and functions without their having to deploy anything in their network. 

TalkSwitch specializes in IP phone systems for small and multi-location businesses. The firm announced the availability of additional IP extensions for its TalkSwitch VS, 48-CA, and 48-CVA systems. By adding IP extension blocks — which can be bought for $499 per block of 8 extensions — TalkSwitch customers can double their system capacity, now running as many as 64 phones on a single system.

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Call Centers

Interactive Softworks' VoiceNet provides complete inbound, outbound and blended multi-channel contact center capabilities, as well as routing, data management and reporting functions. They just released version 5.2 that is based on Microsoft’s SQL platform and includes full VoIP support, a .NET scripting engine and support for the newest Dialog cards and drivers. The company says that with the SQL data source, agents are provided faster data access and report processes, and that contact center managers will enjoy improved uptime, better dialing performance and easier system maintenance.

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