BANK tech-trends News
 

October 3, 2011 - October 7, 2011

• Hardware News
• Software Updates
• ATMs/Kiosks
• Wireless World
• Security Section
• Leaders Roundtable
• Technology and Marketing
• Online Banking/E-Commerce/
  Website Design
• Internet Access
• Call Centers

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Voice Recovery & Business Continuity Insurance

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Who Should Attend: This program will benefit senior managers, IT Directors, VPs of Operations, and anyone at the bank who is interested in telecommunications, disaster recovery or business continuity.

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Date: Schedule a 30-minute live demonstration at your convenience that could one day save your business. If this isn't the easiest to use, most affordable, and most powerful inbound telecom disaster recovery system that you have ever seen, we will send you a free gift - seeing is believing!

To Register: http://www.banktt.com/webinars.htm  
 

~ This Week's News is Sponsored by MARQUIS Software Solutions ~

Please contact John Kassing @ johnk@gomarquis.com, or call 800-365-4274 to learn more about MCIF, referral tracking or CRM solutions that you can and will actually use!

Hardware News

Kingston announced the DataTraveler 6000 (DT6000) USB Flash drive, which protects sensitive data with Federal Information Processing Standard (FIPS) 140-2 Level 3 Validation and 100-percent encryption. The company claims that for financial service organizations that need the strongest data protection in mobile storage devices, the DT6000 meets data-at-rest regulations and is the most secure USB Flash drive available on the market. The drive utilizes patented Secured by Spyrus technology which supports 256-bit AES hardware-based encryption using XTS block cipher mode.

The Samsung Series 7 marks Samsung's first desktop PC in the United States. You have a choice of an Intel Core i3-2120T running at 2.6 GHz backed up by six gig of RAM, or an Intel Core i5-2390T running at 2.7 GHz and loaded with eight gigs of RAM. It features a full terabyte of hard drive storage, a 1.3 megapixel webcam, Bluetooth, four USB 2.0 ports and a USB 3.0 port for extra speed. They retail for $999 and $1,199, respectively.

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ATMs/Kiosks

TMD Security, a provider of anti-skimming technology for ATMs with an installed base of more than 100,000 units, has launched its latest product in anti-skimming solutions: CPK+ 6001. According to the company, the CPK was developed to protect ATMs against various types of skimming, including stereo skimming. The CPK+ 6001 line is a multivendor solution and includes customized bezels and loop transmitter technology.

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MobileIron is targeting financial institutions that want to secure their employees' iPhones and iPads. Once downloaded, the software helps automate Apple updates automatically and secure the devices. MobileIron's platform gives IT administrators the ability to control which apps can and can't be downloaded. Also, employees who wish to access webmail can be required to utilize a VPN connection with two-factor authentication. Finally, any employee who tries to disable the location service through Apple in an effort to avoid being tracked will automatically have their email disabled, while simultaneously triggering an alert to the IT department.

Entersect Technologies has developed a system for mobile devices that uses digital certificates and push notifications to add security to online and mobile transactions. The system places a digital certificate on the customer's phone upon enrollment, and then to authenticate future transactions, the technology looks for this certificate. To consummate the transaction, the customer enters a PIN to approve or deny it.

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Researchers at Symantec have spotted a new scam being used to trick people into opening malicious attachments: send emails that purport to come from office printers, many of which now have the ability to email scanned documents. The emails often contain some kind of Trojan downloader, which can be used to download other malware or steal documents from the computer. It is common for the scammers to spoof the sender's name and make it appear the email came from the same domain as the one that belongs to the recipient.

Based on data from Panda Security, research firm Aite estimates that 25 million new, unique strains of malware will be released this year, and predicts that number will grow to 87 million strains in 2015. Aite is estimating losses from corporate account takeovers at $210 million this year, and predicts that losses will grow to $371 million by 2015.

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Core Systems:

Growing the Community Bank with the Help of Core Systems

FIS - http://www.fisglobal.com Read Patricia Valentino's comments:   http://www.banktt.com/roundtable/FIS.pdf

Fiserv - http://www.fiserv.com Read Mark Atchison's comments: http://www.banktt.com/roundtable/Fiserv.pdf

Harland Financial Solutions - http://www.harlandfinancialsolutions.com Read Jennifer Roberts' comments: http://www.banktt.com/roundtable/HFS.pdf

Fiserv - http://www.opensolutions.com Read David Mitchell's comments: http://www.banktt.com/roundtable/OSI.pdf

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Randi Zuckerberg, the former marketing head of Facebook and sister of one of Facebook's founders, Mark Zuckerberg, offered some social media advice for community banks recently. Her recommendations include:

- try to build a fun, non-intrusive experience
- develop clear incentives for participation
- show a “more human side” by highlighting employees
- showcase your philanthropic initiatives
- do not take down negative posts

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Personal Financial Management (PFM) solutions have been in existence for several years, but consumer adoption remains fairly low. Research firm Celent posits the following reasons for slow uptake:

• Poor overall online banking user experience and customization capabilities.
• Assuming PFM can serve the mass market.
• Poor auto categorization accuracy.
• Lack of relevant and targeted user education.

In many ways the Internet makes it easy for banks to involve their customers in the process of developing and improving their products and services. The Net can help enable banks to make their customers feel valued and part of their changes and upgrades – to virtually incorporate them into the bank. One bank in Germany has taken this active participation to a paid level: Fidor Bank rewards customers for every active contribution towards improving service. Every suggestion for improvement earns the client one euro and no less than a thousand euros in the event that their recommendation gets put into service.

Many large banks and some smaller FIs have drawn quite a bit of criticism from consumer groups over their policy of ordering debit card transaction from largest to smallest, instead of processing them in chronologic order. Proponents argue that consumers value the larger items more and thus would want to see them processed first, while critics believe the sole purpose of high to low ordering is to generate more lucrative overdraft fees. They point to Union Bank which established a "High to Low Implementation Team" and quickly saw overdraft revenue jump by $33 million in its first year of operation. Now many big banks have stopped processing from largest to smallest, and Citigroup even announced plans to reverse the order to minimize overdraft fees.

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Financial Services Roundtable technology unit BITS is looking to help financial institutions fight phishing and other criminal activities. The group plans to release a reporting mechanism that Internet Service Providers (ISPs) can use to present authentication and security measures to BITS' customers. The new mechanism will aggregate email traffic data and domain ownership information from the ISPs to help determine how the source of the email is authenticated.

At the recent ITEXPO West conference, the following “Best-of-Show” winners were announced:

- Best Large Enterprise Solution
Pano Logic

- Best SMB Solution
8x8
Digium

- Best Contact Center Solution

Fonolo
Interactive Intelligence

- Best Cloud Solution

Hexagrid
Siemens Enterprise

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Tata Communications announced the launch of two new cloud-based products: Intelligent Call Routing (ICR) and Interactive Voice Response (IVR). These solutions are designed for routing and distributing calls via a single, fully enabled IP platform across multi-geography and multi-site contact centers. The new ICR/IVR platform includes multisite management that allows customized routing by access number, a choice of interconnects via VoIP or TDM, percentage allocation to optimize traffic distribution and global fallback routing along with multi-language and customizable call flow applications. The platform is being offered on an on-demand, pay-per-use routing and distribution basis.

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