BANK tech-trends News
 

August 13 - August 17, 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

SonicWALL, a provider of network security, email security, secure remote access, and backup and recovery solutions, plans to work with Hewlett-Packard to support their ProCurve Networking initiative. Through this alliance, SonicWALL will extend its Unified Threat Management (UTM) technology into the ProCurve network environment, taking part in ProCurve's ProActive Defense strategy to secure networks against internal and external threats. ProCurve's offerings provide network management solutions for network access control and threat detection and response, and SonicWALL's hardware complements that of ProCurve by providing UTM features for WAN perimeter defense and deep packet inspection for internal threat defense. 

Mistletoe Technologies, who claims to have developed the industry’s first complete network and security system-on-chip (SoC), announced a new SlimLine series of network appliances. The new SlimLine appliance is based upon this Mistletoe Reloadable Direct eXecution (RDX) technology and comes as the following products:

SlimLine Firewall - Network firewall with VLAN support 
SlimLine FlowManage - Traffic monitoring and management 
SlimLine Encryptor - Point to point hardware encryption 
SlimLine AntiDoS - Defends against DoS 

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

Triton has announced the production launch of the RL2000, an affordable stand-alone ATM. The RL2000’s design is based on the Windows operating system and Triton’s X2 mainboard. It also includes a standard 5.7” VGA resolution color display (a first for the ATM industry) or an optional 8" VGA resolution color display that supports improved advertising and screen customizing capabilities. 

Dash ATM has developed a mini-security sleeve for ATMs that protects cash vaulted within the ATM. The Waco, TX-based vendor partnered with Advantage Cash Express to design the sleeve, which is being used by Cash Express to cut the number of physical attacks on its ATMs. The sleeve weighs about 350 pounds and comes equipped with two recessed locks protected by a hardened plate. 

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NCR is continuing its roll out fingerprint biometric ATMs in India. These ATMs do not require an ATM/debit or a PIN. Additionally, NCR has deployed biometric ATMs in Chile, Pakistan and Colombia where fingerprint verification is used as an additional user authentication. They have even deployed biometric ATMs supported by voice in Guatemala.

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There have been numerous announcements recently in the mobile banking arena. First Data and mobile banking software vendor mFoundry are partnering to offer mobile banking and payment services to its STAR Systems EFT network of more than 5,400 financial institutions. The Sybase 365 announced its mobile banking services are available to banks in the Americas. Sybase 365 supports mobile alerts, marketing campaigns, two-factor authentication and two-way banking services. Finally, Amdocs and Bankinter have launched a joint solution dubbed the Amdocs Mobile Banking Solution that enables banks to offer mobile banking services. 

ViVOtech, a vendor of contactless/NFC payment software, recently received investments from First Data and NCR. The Silicon Valley-based firm is touting these investments as a major vote of confidence in contactless payment and mobile transactions via near-field communication (NFC) technology. NCR said that it plans to use ViVOtech’s products “to allow consumers to make contactless payments with radio-frequency-enabled credit or debit cards and NFC-related mobile phones.” There are currently about 20 million contactless cards in circulation that are accepted at approximately 32,000 merchants in the U.S.

A small Texas company is providing banks with a high speed (up to 20Mbit/sec) wireless network. Learn more about this system that can provide secure point-to-point wireless connectivity as far as 80 miles in the upcoming issue of BANK tech-trends - subscribe now.

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Encryption is a hot topic right now, and it will likely be required for more and more of your bank's data. With that comes an increasing need to manage numerous encryption keys securely. As a rule, key management has been integrated as a part of each encryption platform, and in the absence of industry wide guidelines, each vendor has developed its own methodology for operation of its key systems. Here are some options:

- Decru Lifetime Key Management
- Ncipher Keyauthority
- Neoscale Cryptostor Keyvault
- RSA Key Manager

US consumers have lost more than $7 billion to malware and e-mail phishing scams over the past two years, according to new research released by Consumer Reports. The median cost of a phishing incident is $200. Furthermore, scammers' tactics are improving says CR, with phishing e-mails now looking more convincing with better grammar, more believable stories and authentic-looking Web addresses. 

Javelin Strategy & Research has come out with some security elements of a 'dream credit card' for protection against identity fraud. For fraud prevention, the dream card issuer would:

1. Provide cardholders the ability to restrict or allow certain types of transactions (e.g. cash advances, foreign transactions, card-not-present transactions). 
2. Use identifiers other than social security numbers for identity verification. 
3. Truncate all cardholder-sensitive data while interacting with cardholders. 
4. Encourage cardholders to protect their home computers with anti-virus software by partnering with security software vendors. 
5. Offer a photo of account holder on card.

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 are looking to purchase a CRM (customer relationship management) package may want to take a look at VendorGuru.com. To better understand CRM software integration and what is involved in the CRM software implementation process, VendorGuru.com's "Trouble-free CRM Software Implementations" article highlights the necessary steps for a successful CRM implementation.

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Javelin Strategy & Research says that banks should move fast to open their own blog sites if they are not to miss out on a powerful new brand building and customer interaction capability. Currently, less one percent of financial institutions have opened blogs. Javelin analyst Jean Garascia says that "successful blog sites require preparation and research of both consumers and peers, and can pay big dividends through higher customer interaction levels." 

At the recent DefCon security conference in Las Vegas, one security analyst said that many of the new practices that banks are using to verify customers' identities are actually making their customers easier targets. He claims that in their rush to meet the FFIEC requirements, many institutions have overlooked some serious vulnerabilities in their schemes. Find out what he is talking about 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

Verizon Business, a division of Verizon Communications Inc., said its notification service, launched in mid-February and targeted at government and academic users, will soon be expanded to business customers. The notification services, which are hosted with Verizon, are available during an emergency through voice and data over multiple devices. An administrator can activate a notification from a smart phone or other device in a remote location. The service is priced in three parts, including set-up, annual licenses for the user organization and an annual charge for the number of recipients in the system.

SherWeb, a leading hosting provider of Microsoft Exchange Server and BlackBerry, announced its hosted offering for Microsoft Exchange Server 2007 software. SherWeb offers 3 GB of personal disk space for $8.95 per user, per month. Plus they deliver free additional features such as active sync mobile synchronization, advanced anti-spam filtering, the hosting of Microsoft Windows SharePoint Services 3.0 and a copy of Microsoft Outlook 2007 software. 

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Call Centers

Some call center experts say that small organizations that are in particular need of call center solutions that are effective and cost sensible, should look to the virtual contact center as a solution. For example, with the Eagle Express from EagleACD, callers are greeted by a proprietary voice and once a directive prompt is selected, are sent into a call queue where the next available agent, best suited for the query, will be put on the line with the caller. The offering helps to provide smaller businesses with cost savings since received calls are placed on the Eagle Server and transferred to the ACD only after an option has been selected. These type of 'pay-as-you go' solutions should help make it possible to remain cost efficient, while still providing good service to callers.

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