BANK tech-trends News
 

March 17 - March 21, 2008

• 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

Samsung announced its PrintCycle program for its printers where three years after your initial purchase date, they will replace your printer with an up-to-date unit of equal quality. The program runs on a trade-in-by-mail-in process, similar to a warranty replacement. The program also includes toner recycling, and the printers that currently fall under the PrintCycle umbrella are:

CLP - 610ND Color Laser Printer 
CLP - 660ND Color Laser Printer 
ML - 3471ND Monochrome Laser Printer 
ML - 2851ND Monochrome Laser Printer 
ML - 4551DR Monochrome Laser Printer 
CLX - 6210FX Color Multifunction Printer 
CLX - 6240FX Color Multifunction Printer

Iomega announced the third incarnation of its popular REV backup product, upping the capacity of the drives to an uncompressed 120GB each. The new drive is available in external USB 2.0 form, or as an internal SATA drive. The selling point of the REV concept is that it combines elements of hard disk technology, but in a removable format. This means that it is faster than tape, but as durable as a conventional hard disk or good optical system, while offering performance comparable to both. The company claims that cost of ownership is lower than buying removable hard drives because additional disks can be added at relatively low cost without buying a new drive.

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ATMs/Kiosks

Minnesota-based Larco Manufacturing has released a new USB Kiosk Security Mat product. Larco, a supplier of automatic door mats, handicap wall switches and industrial safety mats, says that their security mat eliminates unattended, unauthorized access to a kiosk using a pressure sensitive mat. Users must step on the mat in front of the machine to activate the system before log on is possible. Once a user steps off, Larco’s USB kiosk mat automatically logs the user off which prevents sensitive information from remaining on the computer screen for others to view.

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Between 2% and 5% of the general population has some physical limitation that hinders fingerprint imaging. Fingertips also become dirty, oily or cut, and dirt and oil tend to obscure finger images. That is why some analysts believe that VPR, or vein-pattern recognition, is a much better technology. By some estimates, more than 92% of Japan’s banks use vein pattern recognition because of its high reliability and the fact that customers do not have to touch the readers.

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New research from TowerGroup finds that core banking technology vendors have a big role to play in helping mid-tier and small institutions take advantage of this emerging channel that will soon be a cost of doing business. In light of the surging interest in mobile banking services, TowerGroup believes that banks should move ahead with the deployment of mobile banking solutions with confidence that their core banking vendors will provide the key to start the engine of mobile banking. Their research concludes that in 2008, mobile banking will finally emerge as a basic, necessary service for financial institutions and therefore a “must have” in the solutions arsenals of core banking vendors. 

A new Harris Interactive study finds that “mobile phone users are increasingly comfortable making banking and purchase transactions while on-the-go – a virtual taboo until now.” The survey finds 16 percent of mobile phone subscribers already use mobile banking services, with 60 percent of these people using the services at least once a week. Many others presently not banking and buying on-the-go expressed interest in mobile banking, with 35 percent open to checking bank account balances and transferring funds via their mobile devices. A third of those surveyed (33 percent) also said they would like to receive text message alerts from their financial institutions. The survey also found that the biggest barrier affecting consumer acceptance of mobile banking and commerce is security concerns over personal data. 

According to phone manufacturer Ericsson, Wi-Fi hotspots will become as irrelevant as telephone booths as mobile broadband takes off. The replacement of Wi-Fi usage by mobile broadband assumes widespread mobile broadband adoption, widespread use of picocells and femtocells to increase indoor coverage, reasonable pricing plans, roaming agreements and other service delivery conditions that make the service truly convenient and predictable.

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AV-Test.org, an independent antivirus testing organization, has released new test results on the latest versions of 30 antivirus products. In January and February alone, AV-Test.org discovered 1.1 million samples of unique malware spreading around the Net. The organization found nearly 5.5 million total during all of last year, up from 972,000 in 2006. As for the report cards, Sophos scored well (all As and Bs) in the AV-Test.org tests, as did Symantec’s Norton Antivirus (five As, two Bs, and a C in response time to new malware, with a 4- to 6-hour window). McAfee got all As and Bs, except for two Cs - in performance, and in response time to new malware (4-6 hours). 

Code Green Networks, a provider of data loss prevention (DLP) solutions for protecting customer data and safeguarding intellectual property, announced the release of Version 5.0 of its DLP system. CGN says that the new release enhances the capabilities of their CI-1500 and CI-750 Content Inspection appliances with new features for ease of use, expanded techniques for detecting content, and an additional option for fully integrated email encryption using the Cisco Registered Envelope Service.

Structuring is a favorite method used by money launderers to attempt to avoid detection. According to security firm Fortent, common signs of structuring include:

1. Movement of cash in multiple transactions under $10,000.

2. Attempts to take the sender’s name off wire transfers.

3. Large cash deposits made to ATMs.

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Security:

Perimeter, Host and Endpoint Security – Finding the Right Mix

Arcot - http://www.arcot.com   Read R. 'Doc' Vaidhyanathan's comments: http://www.banktt.com/roundtable/Arcot.pdf

Astaro - http://www.astaro.com Read Alex Quinonez's comments: http://www.banktt.com/roundtable/Astaro.pdf

Code Green Networks - http://www.codegreennetworks.com   Read Brian Czarny's comments:   http://www.banktt.com/roundtable/CGN.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

HEIT - http://www.goheit.com   Read Dan Holt's comments:   http://www.banktt.com/roundtable/Heit.pdf

Integrated Computer Solutions - http://www.icsinc.com   Read Stephen Goldsby's comments:   http://www.banktt.com/roundtable/ICS.pdf

MagTek - http://www.magtek.com   Read Kiran Gandhi's comments:   http://www.banktt.com/roundtable/MagTek.pdf

Netsecuris - http://www.netsecuris.com   Read Leonard Jacobs' comments:   http://www.banktt.com/roundtable/Netsecuris.pdf

Network Box - http://www.networkboxusa.com   Read Pierluigi Stella's comments:   http://www.banktt.com/roundtable/NetworkBox.pdf

Perimeter eSecurity - http://www.perimeterusa.com   Read Kevin Prince's comments:   http://www.banktt.com/roundtable/Perimeter.pdf

Proofpoint - http://www.proofpoint.com   Read Sandra Vaughan's comments:   http://www.banktt.com/roundtable/Proofpoint.pdf

Sydel - http://www.sydelcorp.com   Read Antonio Gonzalez's comments:   http://www.banktt.com/roundtable/Sydel.pdf

TraceSecurity - http://www.tracesecurity.com   Read Jim Stickley's comments:   http://www.banktt.com/roundtable/TraceSecurity.pdf

TriGeo Network Security - http://www.trigeo.com   Read Michelle Dickman's comments:   http://www.banktt.com/roundtable/TriGeo.pdf

ZixCorp - http://www.zixcorp.com   Read Dena Bauckman's comments:   http://www.banktt.com/roundtable/Zix.pdf

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Why should your bank cater to the Millennial Generation? Perhaps because a study conducted earlier this year by the Center for Media Research found that there are more people under 35 than there are people over 54 making a six digit income. Across 87 major markets represented in the survey, there are 23.2 million adults living in households with an annual income of more than $100,000. Of those, the survey found, 6.2 million, or 26%, are under 35, and of those, 36% are under 25. Finally, it is predicted that the collective income of GenY will surpass the BabyBoomers by more than $500 billion within 10 years.

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Software vendor Talisma claims that financial institutions that put searchable knowledge bases on their website that provide Web surfers with immediate answers to queries can lower phone call volume 15% in the first year after installation. They are also big fans of chat, stating that agents can handle on average between 1.4 and 2.4 chats simultaneously, with 1.6 a breakeven point. Finally, the firm points out that there is also the hidden cost of not offering chat to a market segment now accustomed to using chat as a way to access customer service.

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Internet Access

Vertical Systems just launched the Vertical SBX IP 320. The converged VoIP telephony system is designed for single- and multi-location small businesses. Developed in partnership with LG-Nortel, the SBX IP 320 includes VoIP with support for both digital and IP phones, SIP trunking, integrated voicemail/auto attendant, VoIP, CTI, conferencing, Wi-Fi phones for mobile users, and an IP Soft phone. Each system can support 32 users per site and the systems can be networked together at up to 72 sites. 

Microsoft and Nortel announced the availability of three new joint unified communications solutions as part of their ongoing Innovative Communications Alliance (ICA) partnership. The joint products include: 

1) Nortel Converged Office, which integrates Nortel’s Communication Server (CS) 1000 IP-PBX or CS 2100 IP-PBX with Microsoft Office Communications Server 2007; 

2) UC Integrated Branch, which is designed to extend unified communications to branch office and remote sites, combining Office Communications Server 2007 mediation server capabilities into the Nortel Secure Router 4134, while integrating WAN routing, Ethernet switching, security and VoIP into a single platform; 

3) Nortel Multimedia Conferencing 5.0 for Office Communications Server 2007, a reservationless audio conferencing solution designed to enhance Office Communications Server 2007 conferencing with dial in audio bridge capabilities, enabling external non Communications Server 2007 users to dial into a conference.

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Call Centers

In theory, interactive voice response (IVR) systems are very compelling - being able to offer 24-hour service without human intervention. Yet many consumers have little use for IVR systems, and a large number of IVR applications fail to work well. Some call center experts believe that IVR systems work best in three areas: playing options to route calls to the best agent group, self-service to a closed group of frequent callers, and for simple tasks like balance inquiries. Automating beyond this level can often be counterproductive with poor customer service and less than expected take-up.

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