BANK tech-trends News
 

June 4 - June 8, 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

Auburn, CA-based ioSafe designs and manufactures disaster proof hardware to protect digital assets. They have a ruggedized NAS (network attached storage) unit that they say is 'disaster-proof.' They compare it to an aircraft black box because it can withstand intense heat, water damage, and drops from over 30 feet, and then have the disks recovered and the data remain intact. One independent group put their NAS box into a 1700 degree fire for 10 minutes, and pulled out the disks after hosing them down with water and read them with no problems.

3Com is offering their new X-Family of unified security platforms that feature TippingPoint's Digital Vaccine intrusion protection system. They feature NAC (network access control) capabilities that allow them to quarantine infected clients into a separate VLAN, where they can be cleaned up. It adds security services such as VPN, firewall and web content filtering, plus traffic shaping that allows specific traffic - such as VoIP - to be given priority over the VPN. The stand-alone X5 is $863 for 25 users, or $1035 for unlimited users, and can handle 18Mbit/s throughput. The larger rack-mount X506 is around $4,000 for unlimited users and can process 50Mbit/s. 

When it comes to branches, do all-in-one devices make economic sense? Are the costs of these appliances lower than the collective cost of buying each of the functions (e.g., voice/data switching, routing, firewall, antivirus, intrusion detection/prevention, Web filtering, wide-area file services, wireless LAN, and applications) in a separate box? We will let you know in the upcoming issue of BANK tech-trends - subscribe today. 

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

Many banks would like to customize their ATMs with targeted marketing messages and customer specific information, but these efforts have often been hampered by outdated infrastructures based on legacy systems, or they have to contend with multivendor ATM software and hardware that doesn't interoperate well. However, it is becoming easier and more affordable to expand ATM capabilities - learn how in the upcoming issue of bank tech-talk - subscribe now.

Desjardins Group, Québec’s largest financial institution, has added a new feature to its ATMs. Bank customers can now view their last ten account transactions directly on-screen. This follows on to customers being allowed to pay their bills without envelopes at ATMs. Customers simply pre-register their bills and then they can be paid at the ATM with just a few steps. Desjardins also supports a “fast cash withdrawal with no transaction record” feature which the group says allows for reductions in paper use. 

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iMagic Software and BioPassword are two vendors that offer password verification systems based on keystroke dynamics. They say that fingerprint scanners, smart cards and passcode-generating tokens are expensive platforms to set up, maintain and upgrade, while keystroke biometrics, which is purely a software solution, can be easily installed and updated.

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Current users see mobile banking as a secondary or emergency banking method, according to a recent research study by SYNERGISTICS Research Corp. Genie Driskill, COO of SYNERGISTICS, stated, “Providers face a number of challenges in the market that may impact the usage of mobile banking, such as varying technologies and platforms, device functionality and screen size issues, pricing – particularly in the context of minute usage, as well as security. As our results show, users of mobile banking (cell phone or PDA/organizer) currently view this service as a secondary or emergency banking method. Many of the existing market or environmental issues will need to be resolved before mobile banking can entertain significant growth."

Startup Geezeo is offering their "Geezeo Mobile" service that gives consumers real-time access to their account information from 6,000 financial institutions and credit card companies. Geezeo claims that the new service will eliminate overdraft fees, declined credit cards, late payment penalties and avoid lower credit ratings. After registration, whenever users want to check balances or available credit, they simply send a text message to Geezeo requesting specific information, such as account balances, payment dates or available credit. Geezeo then replies with a text message with the requested information. 

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Many organizations struggle with implementing the proper security features on a new Windows Server 2003 installation. While there are multiple sources for checklists and guides available, including SANS, NSA, NIST, and a host of others, bank network administrators should not overlook Microsoft's Security Configuration Wizard (Scw.exe). The main purpose of this wizard is to implement role-based security on Windows Server 2003. By defining the server's role on the network, you can disable unnecessary services, block unused ports, implement additional address or security restrictions for ports necessary for operation, and more.

Many banks are lowering their transaction limits on debit cards in an effort to cut their fraud losses. Some say that while their average legitimate debit card transaction is under $50, their typical fraudulent transaction is well over $500. Some have changed their daily limit of $2,500 on debit card transactions to $1000, while others have gone down to just $500. Some institutions grant cardholders planning vacations or special expenditures temporary limit increases. 

Some security experts say that computer crime has shifted from a game of disruption to one of access. They note the use of antiforensics which includes technology and a very sophisticated approach to computer intrusions. We will cover antiforensics in the upcoming issue of BANK tech-trends - subscribe today.

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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A German company has come out with software that enables video messages or "Videonizes" to be sent as simply and easily as email. Traditionally, video clips had to be sent as attachments, but MailPerfect Europe AG says that their Videonize messages run in the recipient's email program or browser, without any special player or proprietary software. A further advantage for email campaigns: video streams to the recipient immediately upon opening the Videonize email, thus minimizing data volume and buffer times. The firm claims that Videonize emails can be received by all current email programs.

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Unisys has announced it will design and help implement a new electronic check and image processing system in a consulting, software and hardware agreement with the Federal Reserve Bank of Cleveland, acting on behalf of the 12 Federal Reserve Banks. The 12 Reserve Banks together are one of the United States’ largest processors of payments, including paper and electronic checks, for financial institutions. Unisys will deploy its Open Payments Platform that is based on a Service Oriented Architecture (SOA) approach incorporating industry standards, Business Process Engineering Language (BPEL), and Linux. 

Banks that offer PFM (personal financial management) tools should target 18 to 24 year olds, according to research from Javelin Strategy and Research. Javelin says that the fact that 14% of 18 to 24 year olds use software provided by their financial institution — double that of most every other age segment — shows that this group is open to using a PFM tool provided through the bank. 

Banks that issue credit cards would be well advised to know that the Federal Reserve Board has unveiled a proposal that would require credit card statements to carry a warning message on the consequences of paying only the minimum required payment. Among other proposed changes: a 45 day notice before raising an interest rate due to delinquency or default; requiring issuers to state on monthly statements the total interest and fees paid for the calendar year; and applying payments to the debt carrying the highest interest rate first. The major overhaul of Regulation Z (Truth in Lending) comes after gathering one-on-one feedback from cardholders over a two-year period. The new proposals also come on the heels of growing Congressional pressure to rein in credit card practices. The proposals are now open for public comment for the next four months and could take effect sometime in 2008.

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

Avaya recently announced their new Avaya Distributed Office system, a fully-IP communications system for branch offices - it focuses on high integration and easy rollout with the goal of networking employees across all branches of an organization. The Avaya Distributed Office i40 and Avaya Distributed Office i120 hardware can be pre-configured to match an organization's preferences, and a wizard walks through on-site configuration. It then links up with the central management software to take care of call routing. 

Covad Communications announced it is offering a faster DSL service that promises to deliver 8M to 15Mbps of dedicated Internet access. The new service, which Covad is calling ADSL2+, is available in three flavors that support 8M, 10M or 15Mbps downstream and 1Mbps upstream of Internet access. Covad says its ADSL2+ service is provisioned the same as any of its other DSL offerings and will initially be offered in: Atlanta, Chicago, Dallas, Los Angeles, Miami, New York, Philadelphia, San Diego, the San Francisco Bay Area, Seattle and Washington, D.C. The service ranges from $150 to $195 per month depending on the downstream bandwidth the customer purchases.

Many telecom experts believe that small organizations have enough to worry about without the added complexity of administrating a PBX or VoIP phone system. They note that VoIP offers many advantages, but often the migration process and maintenance are simply more than small organizations can handle, just as a traditional PBX may be too cumbersome. That is why some are touting the benefits of a managed VoIP phone system. We will cover these advantages in the upcoming issue of BANK tech-trends - subscribe now.

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Call Centers

The Workforce Management Software Group started as a call center consulting firm, then developed what they are calling a new kind of workforce management system. Their Community package delivers forecasting, what-if analysis, scheduling, intraday management tools, and real time agent adherence and reporting features. Community 3.0 is the only .Net workforce management application available to contact centers today and requires nothing more than a browser at the desktop.

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