BANK tech-trends News
 

June 18 - June 22, 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

DIGITUS, a German company that offers many different computer peripheral products, has come out with a multi-function USB server. The company says that up to two USB devices, whether USB printers, scanners, drives or other USB devices, can be mainstreamed into the network, irrespective of the protocols supported. The multi-function servers from DIGITUS come in three versions: as a LAN version with one or two USB ports, or as a wireless LAN version with two USB ports. 

In other USB news, Kingston, SanDisk, and A-Data Technology have been showing off USB flash memory drives. These devices are certified to work with Windows Vista's ReadyBoot and ReadyBoost functions, which are supposed to improve boot-up times and the software start-up speeds in PCs. Meanwhile, Yoggie Security Systems has released their latest USB-powered hardware firewall, the Yoggie Pico. The Yoggie Pico runs on Linux 2.6, and features 13 security applications such as a NAT firewall, anti-virus, anti-spyware, anti-phishing, etc. The device also includes two separate Flash memory units for security purposes. One of the units stores a secured copy of the Linux OS. During pre boot, Yoggie Pico copies the OS onto the second unit, and uses it during runtime. The unit runs $179.

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

At their annual The Advisory Group (TAG) conference, Diebold announced a new ATM dubbed CashSpot. This machine is an entry-level alternative to Diebold’s Opteva family, which includes the Opteva 500 and Opteva 520. The new machine features extensive support options from a dedicated customer help desk. Diebold say that help desk personnel will order and ship parts directly, guide installation and assure ATMs operate properly. 

In the late 1990s, Alternative Financial Solutions (AFS) developed a touch screen automated financial kiosk for the purpose of providing automated cash advances, payroll advances, and small consumer loans. Fort Collins-based Mister Money Holdings, the owner of AFS, is now releasing the second generation of their Mister Money kiosk. The firm is targeting grocery and convenience stores, and check-cashing establishments. 

In a deal worth $135 million, ATM operator Cardtronics is purchasing 7-Eleven’s 5,500 in-store ATMs, including more than 2,000 self-service financial Vcom terminals. With this purchase, Cardtronics now operates more than 30,000 machines in the US, UK and Mexico. 

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Apricorn, a provider of personal storage devices, has launched the Aegis Bio, a hardware encrypted biometric hard drive that allows users to securely access their files with a fingerprint biometric sensor. With 80GB, 120GB and 160GB capacities, the company says that their Aegis Bio is an ideal option for taking sensitive information on the road and is designed for IT departments looking to secure their mobile users. In addition to biometric security and hardware encryption, the bus powered Aegis Bio features an integrated USB 2.0 cable (eliminating the need to carry around bulky USB cables), an auxiliary power Y-cable, software CD, a neoprene travel pouch and Quick Start Guide.

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According to Boston-based Aite Group, within the next 24 months, basic fund transfer capabilities over mobile devices will be commonplace. Their analysts believe that many banks view rolling out mobile banking as a defensive response and are considering adding mobile banking to avoid being left behind the competition. Their findings are documented in their new report entitled "Mobile Banking Adoption Strategies in the United States."

Satellite providers DirecTV and EchoStar Communications are teaming up with WiMax operator Clearwire to deliver wireless broadband services. Clearwire, which was founded by mobile-industry billionaire Craig McCaw, delivers WiMax broadband services to fixed locations. DirecTV and EchoStar hope to use Clearwire's network to provide broadband services - WiMax can deliver signals more than a mile in some suburban areas, with peak data rates of about 20 megabits per second. Average user data rates fall between 2Mbps and 8Mbps. 

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According to the FBI, bank robberies increased by approximately 3.5% in 2006 over the prior year to 6,948. Most of the robberies were 'note jobs', but about 25% involved firearms. Other highlights from the report:

 
• branch offices of metropolitan commercial banks were the most likely targets 
• the highest number of robberies occur between 9 and 11 a.m. on Tuesdays 
• Wednesday between 11 and 1 o'clock was the next most time 
• Fridays from 3 to 6 p.m. was the third highest timeframe

Microsoft has revealed its plans for a next-generation integrated security management platform, code-named "Stirling." The software giant claims that Stirling will let various security tools communicate with one another to protect against threats. However, some Microsoft customers are uncomfortable with Microsoft's ability to provide users with both their enterprise applications and security protection, and are taking a wait and see approach on their upcoming Forefront Client Security, Server Security, and Edge Security and Access, as well as the management console software. 

Actimize, a provider of enterprise-wide software solutions for anti-money laundering and fraud prevention, notes that some of their financial institution clients are turning their fraud monitoring efforts inward. Use of their software is already common in financial services for spotting fraud in external transactions, such as credit card spending. But now some banks are using the firm’s software to watch employees in their call centers and back office who have access to sensitive account information.

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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Larger banks looking for insight into their performance levels may want to take a look at CenterView from Corda. Their enterprise performance dashboard solution collects data from virtually all business intelligence, database, spreadsheet, and operational applications and presents it using executive dashboards, scorecards, and organization-specific data visualizations to any senior manager who needs to make decisions. 

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MasterCard Worldwide announced the launch and availability of MasterCard Product Graduation which enables cardholders to keep account numbers when switching card programs. MasterCard says that retaining account numbers will allow cardholders to maintain their recurring bill payments, online shopping profiles, and other automatic payment relationships, providing uninterrupted service for both the consumer and merchant. MasterCard Product Graduation is also geared towards helping issuers manage the cardholder lifecycle, making it possible for improved account migration within selected consumer and within selected commercial card programs. 

According to a report released by Celent, remote deposit capture (RDC), already a hot product in electronic payments, is poised for explosive growth. We will cover RDC in the upcoming issue of BANK tech-trends - subscribe now.

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

AT&T announced that small organizations can now buy broadband Internet services at more than 780 AT&T wireless retail stores, formerly Cingular retail stores. In addition to selling its existing suite of wireless solutions specifically designed for small businesses, AT&T retail sales consultants can now work face to face with small business owners to provide customized assistance and complete the order process for broadband Internet service. AT&T Yahoo! High Speed Internet Business Edition is available in the 13-state area with maximum downstream speeds ranging from 1.5 Mbps to 6.0 Mbps; prices start at $34.99/month. 

eOn Communications Corporation has introduced Business Connect, a business-class VoIP service offering tailored specifically for small businesses. The system includes auto attendants, conference bridges, disaster recovery options, voicemail, Microsoft Outlook integration including click-to-call capabilities, and other options. The firm says that users receive an extension number and as long as there is access to the Internet, they can be reached by other colleagues over eOn's Business Connect VoIP network.

IP telephony company ShoreTel has a new Managed Services Program designed to fix the cost of expensive telecom equipment. Without a down payment, customers can finance equipment, installation, maintenance, software, network assessment, training and support. Costs are fixed for the customer for up to 10 years, regardless of any underlying increases in equipment or services costs. The Managed Services is available with ShoreTel's Unified Communications systems.

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Call Centers

Speech analytics, also known as audio mining, was first introduced into the contact center market around 2004. While the technology is still considered an emerging application, some call center experts believe that within the next few years it will become a "must have" application. Learn more about speech analytics in the upcoming issue of BANK tech-trends - subscribe today.

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