BANK tech-trends News
 

July 23 - July 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

CMS Products has a package of hardware and software built around a small, 7oz free-standing SATA disk with a USB 2.0 connection cable. CMS' Automatic Backup System backs up the whole laptop or desktop — including the operating system — to this free-standing disk. However, it does not do this with a sector-by-sector mirror copy. Rather it copies individual files, the operating system, personal settings, etc., plus all backups after the original one simply copy the changes since the previous backup. A bootable rescue CD is included as part of the ABSplus solution. Boot up using this CD then type in the command "Image" and a bare metal restore takes place.

Founded by former file system architects from Novell, Solera Networks has developed a range of appliances that do continuous deep packet capture and stream-to-storage for 100% of your network traffic. You can think of this device as TiVo for your network. The company says that it has a range of uses, including network security, network management, and forensics/analytics. They claim that it doesn’t impair or impede your network performance in any way, and it captures data at sustained rates of 5Gbps. They are betting that capturing and storing all network traffic for later analysis will become a best practice in network administration.

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

Australian security vendor Lockit Systems is touting their ATM Raminator solution as an excellent deterrent to ram raids (AKA smash and grabs). They recently received the Best New Security Product 2007 award from the Australian Security Industry Association. As further proof of their system’s effectiveness, the company says that not a single ATM has been stolen where an ATM Raminator has been fitted.

NCR is targeting financial institutions with self-service kiosks designed to create a better retail experience, similar to, for example, a "mobile phone store". Find out more about these kiosks in the upcoming issue BANK tech-trends - subscribe today.

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The ATM Industry Association recently released a position paper reaffirming their faith in the Personal Identification Number (PIN). They believe that the PIN is more than adequate and that biometrics are not needed. “Any attempt to mandate the use of biometrics at ATMs would be foolish and counter-productive,” said Mike Lee, ATMIA’s chief executive. “ATMIA upholds the security, convenience and success of the PIN. What is needed in the current fraud climate is more customer education on PIN protection, not a change to what has been the preferred customer authentication device in self-service banking for almost 40 years.”

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Wireless USB (Universal Serial Bus) is finally arriving - about a year later than promised. Wireless USB is a cable-free version of the ubiquitous device connection technology. Belkin just announced a Wireless USB hub, and Lenovo debuted its T61p notebook, which will support Wireless USB as an option. Learn more about wireless USB in the upcoming issue of BANK tech-trends - subscribe today.

Green Armor Solutions announced a complete authentication platform for securing access to websites from mobile devices and smartphones such as Apple’s iPhone, RIM’s BlackBerry devices, Motorola’s Q phone, Palm’s Treo series, and other PDAs. Green Armor’s technology provides both multi-factor authentication and site authentication optimized for users accessing business systems from handheld devices. Green Armor says that their system does not require users to install any software, re-enroll, carry additional security devices, or undergo extra steps during the login process.

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Security vendors such as LogRhythm and Prism Microsystems that offer log management tools argue that logs, which by nature allow for tracking IT infrastructure activity, are the best way to assess if, how, when and where a data breach has occurred. Unfortunately, logs of different types are generated from different sources at an astounding rate which makes it extremely difficult to manage manually. Some security analysts believe that a major effect the age of compliance has had on log management is to turn it into a requirement rather than just a recommendation.

According to Mercator Advisory Group, the cost of migrating Canadian cards and point-of-sale terminals to EMV (Europay-Mastercard-Visa - smart card technology) could end up being more than that of the fraud that the technology is intended to prevent. During the course of 2007 and 2008, Canadian debit and credit card issuers will be rolling out EMV cards to their cardholders, with critical mass expected by 2010. According to the Retail Council of Canada, which represents 9,000 merchants, Canadian retailers could spend over C$1 billion (US$950 million) on upgrading to EMV. Even with these high costs, however, Mercator says that migrating to EMV chip-and-PIN is still justified in order to prevent the erosion of consumer confidence and trust in the payment market.

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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Smaller banks that want to try a CRM (customer relationship management) system may want to take a look at DataForce CRM. The company is offering five free users of the new CRM version 2 to all comers. This free offer is for one year and includes set up, support and training. Register at http://www.dataforcecrm.com/free-sales-tool.

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Santa Clara, Calif.-based Billeo is targeting banks with enhancements to their software. Billeo, which maintains a directory of 6,000 billers whose sites accept online payments, hopes to make online bill pay profitable for banks by making it easier for consumers to use credit and debit cards at both biller and FI sites. Billeo's product, which is free to consumers, has three software components: Shopping Assistant, Bill Pay Assistant and Password Assistant. The components automatically keep and fill in passwords for consumers, and automatically fill in card-account numbers, expiration dates, and other information typically requested by sites. Billeo is hoping that banks will offer this integrated product with their own brands attached to it. In this model, the bank will be able to feature its own card products at the top of the available payment options, and could offer other inducements. For this hosted service, Billeo will charge banks a fee that will likely be tied to the value of each transaction, in addition to licensing and maintenance fees. 

In a quick response to Capital One's recently released 'decoupled' debit card which relies on settlement through ACH, Tempo Payments is looking to offer Tempo Debit to financial institutions that want to establish debit card relationships with consumers other than those who hold checking accounts with them. We will provide complete details 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

IP telephony and IP presence solutions provider Mitel is targeting smaller organizations with their Mitel Applications Suite, which is packaged along with the company’s Mitel 3300 IP Communications Platform, includes these three products: 

Mitel NuPoint Messenger IP – messaging solution with advanced call routing for auto-attendant applications and call routing for individual users via a feature called Call Director.

Mitel Mobile Extension – provides ability to centralize all calls to a single number accessible by both desk phone and mobile phone.

Mitel Teleworker Solutions – allows Mitel endpoints to be located anywhere on the Internet; distributed employees working from home or branch offices maintain access to the centralized communications system.

NeoPhonetics has launched its Network Assessment Tool that they say enables any organization considering a VoIP solution to determine whether their cabling, switching and routers, and network bandwidth are VoIP-compatible within minutes. The tool assesses compatibility requirements by answering a few simple questions online. NeoPhonetics can also provide a full, tailored Network Readiness Assessment if a business uses the tool and determines it would like to pursue an enterprise-grade VoIP system.

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Call Centers

The CFI Group has released their first Call Center Satisfaction Index and their survey finds that first call resolution is absolutely critical to caller satisfaction. Of those callers who didn’t have their issue resolved, 68% are at risk of defection (43% said they would definitely defect, and 25% aren’t sure). That’s a substantial percentage of callers who are at risk of defection based on their interaction with the call center alone. While financial institutions overall rated among the best contact centers, just over half (52%) of the banking customers say that they share their experience with the contact center with other people. Callers with bad experiences are significantly more likely to share the experience with others; and they are also less likely to recommend the company overall and are less likely to continue doing business.

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