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Bank Technology News August 2006 Glen Fest |
Multi-Factor Authentication: Two-Factor Timing Twists Up Bankers The FFIEC's guidelines for adopting multi-factor authentication includes a hard deadline with apparently soft parameters. But will haste end up producing waste?  |
Bank Technology News November 2007 Glen Fest |
Online Authentication: Multifactor Race Nears Finish Line Nearly a year after half of all U.S. institutions missed the deadline to adopt stricter FFIEC guidelines for online authentication, analysts say that banks have finally, and almost universally, put their multifactor and other risk-mitigation layers in place.  |
Bank Systems & Technology August 24, 2006 Nancy Feig |
Banks Scramble to Meet FFIEC Online Banking Authentication Guidelines by Yearend Less than four months remain for banks to meet the Federal Financial Institutions Examination Council's year-end deadline for Internet banking authentication, but some confusion remains over what is an acceptable solution.  |
Bank Systems & Technology April 7, 2006 Peggy Bresnick Kendler |
Security Outlook A plethora of high-profile data breaches and concerns about identity theft have put the banking industry on high alert. To secure their information assets, banks must implement a cross-channel, multilayered approach that extends beyond technology.  |
Bank Systems & Technology May 24, 2007 Maria Bruno-Britz |
Banks Using Security to Increase Customer Trust and Their Bottom Lines Banks realize that information security can increase client loyalty and lower costs.  |
Wall Street & Technology March 21, 2006 Paul Allen |
Add Another Bolt to the Cyber Door Due to enhanced and evolving cyber-threats, financial institutions now must implement some form of multifactor authentication or layered security to protect sensitive customer data.  |
Bank Systems & Technology December 21, 2009 Nathan Conz |
Fraud: Social Media Heightens New Threats As fraudsters increasingly seek to exploit weaknesses in consumers' defenses through social engineering schemes rather than hack vulnerabilities in banks' security systems, the need for enterprisewide solutions to detect fraud across channels is greater than ever.  |
Bank Systems & Technology December 1, 2005 Eileen Colkin Cuneo |
Dealing With Data Theft After the Fact When a security breech occurs, a company handling it right can flip the negative into a positive and earn customers' respect and appreciation. If they handle it wrong, and the business will fight the stigma of being an untrustworthy organization indefinitely.  |
Bank Systems & Technology August 2, 2005 Phil Britt |
Fighting the New Face of Fraud Technology plays a critical role in banking fraud, both in creating new opportunities for fraud and offering new methods to defend against it. Financial services institutions must take a holistic approach to combating fraud.  |
Bank Technology News September 2006 |
Homeland Insecurity One of the toughest battles for bankers may be in combating online security breaches and sophisticated money laundering schemes.  |
U.S. Banker February 2005 Michael Sisk |
A Phish Story Phishing attacks (in which thieves send mass e-mails supposedly from reputable businesses) are expected to more than double in 2005, and are spreading to small banks.  |
Bank Systems & Technology February 18, 2009 Ashfield & Shroyer |
Security Management: An Ongoing Challenge for Banks Banks face a difficult challenge in the area of security management.  |
Bank Technology News October 2007 Glen Fest |
Authentication: Can You Protect Me Now? Banks have critical decisions to make regarding mobile's unique vulnerabilities, and there's been little consensus on the right security play for multi-factor authentication.  |
Bank Systems & Technology September 30, 2006 Maria Bruno-Britz |
Zions, ING Pick RSA Risk-Based Authentication Solution Security solutions provider RSA saw its Adaptive Authentication solution implemented at Salt Lake City-based Zions Bank and ING Direct for the banks' online retail banking customers.  |
Bank Technology News August 2006 Glen Fest |
Choosing Authentication Solutions: Vetting Vendors, Soothing Customers Banks face tough choices today in building anti-fraud resiliency, from selecting providers to meeting user preferences. Will they be happy with those choices tomorrow?  |
Bank Systems & Technology May 5, 2007 Maria Bruno-Britz |
Fraud Techniques Evolve in Parallel with Bank Products and Defenses As fraudsters' techniques evolve alongside the products and services offered by financial institutions, new steps must be introduced to stop them.  |
InternetNews August 18, 2005 Tim Gray |
Consumers' Online Security Concerns Rising A new study suggests that authentication technologies may help regain online users' trust.  |
Bank Technology News December 2007 |
Scoring Banks' Compliance With FFIEC Guidelines Compliance with FFIEC guidelines brought out the worst in many bankers. So how did banks do in terms of compliance?  |
Wall Street & Technology November 21, 2006 |
Ready for FFIEC A new report from Boston-based Aite Group shows that the financial services industry is geared up for the Federal Financial Institutions Examination Council's end-of-year deadline for outlining a plan for stronger online authentication.  |
Bank Systems & Technology May 8, 2007 Deena M. Amato-McCoy |
Fear Of Identity Theft Discourages Consumers From Banking Online Proactive security measures increase online banking confidence and use, study says.  |
Bank Technology News April 2006 Glen Fest |
Fraud Prevention: Engaging More Than The Enemy Banks could improve anti-fraud measures if they provided tools that draft customers into the battle. But it's not that simple for an industry still rife with soft spots.  |
Bank Technology News April 1, 2008 Joe Sowerby |
ID-Theft Fears Keep Clients Off the Web Adoption of online banking is increasing, but not nearly at the rate of broadband adoption. The main reason: fear of online identity fraud.  |
InternetNews October 24, 2005 Tim Gray |
Companies Bid for Authentication Compliance Work Financial institutions are getting started on security compliance regulations.  |
Bank Systems & Technology February 27, 2006 Larry Greenemeier |
Banks Benefit as Authentication Providers Duke It Out As emerging security threats cause confidence in online services to wane, financial services firms are searching for ways to restore users' faith. Rival providers of online authentication technology are leveraging the opportunity to spread their technology across the globe.  |
Wall Street & Technology December 19, 2007 Melanie Rodier |
U.S. Banks Are Targets in 60 Percent of Worldwide Phishing Attacks Phishing attacks against global banking brands target U.S. institutions most, according to security solutions provider RSA.  |
Bank Systems & Technology July 22, 2008 Orla O'Sullivan |
RSA Offers New Security Tokens for Online Banking RSA says one U.S. bank and several abroad are testing the Bedford, Mass.-based vendor's first security token modeled on a credit card.  |
Bank Technology News February 2007 Andrea Klein |
Losses Rise If Reputation is Compromised The banking industry has begun to recognize the true cost of a tarnished reputation. The next and more challenging step for many is mitigating reputational risk, especially as it relates to online security breaches.  |
Bank Systems & Technology January 31, 2006 Maria Bruno-Britz |
Fortifying Online Banking The Federal Financial Institutions Examination Council (FFIEC) issued guidance to the financial services industry for data security in the online banking environment. Banks must perform the mandated risk assessments by the end of 2006.  |
Bank Technology News April 2005 John Adams |
The Cost of Doing Business The debate over multi-factor authentication for electronic transactions is growing louder, and many say industry-wide use is virtually inevitable for banks. So why is almost nobody doing it?  |
Wall Street & Technology November 26, 2007 Melanie Rodier |
Data Security: An Increasingly Daunting Task With breaches on the rise, consumer confidence waining, more data privacy regulations in the pipeline and a focus on outsourcing, financial services institutions must ensure they are protecting customer data -- both internally and externally.  |
Bank Technology News March 2007 Holly Sraeel |
Protecting Data Online Is a Top Priority for Consumers Today, consumers recognize that fraud is no laughing matter. According to a study, 41% of respondents would decrease their use of online banking or switch institutions in the wake of a data breach.  |
Bank Systems & Technology May 3, 2005 Deena M. Amato-McCoy |
Creating Virtual Value By integrating business channels, consolidating customer histories and beefing up security, banks are improving their online offerings to provide customers with all the conveniences of branch banking in the comfort of their own homes.  |
Bank Systems & Technology November 26, 2007 Maria Bruno-Britz |
Javelin Finds More Banks Using Multi-factor Authentication With the FFIEC deadline for implementing multifactor authentication now but a memory, banks have improved their efforts to secure customers' information, according to a study. However, there is more banks can do.  |
Wall Street & Technology February 14, 2006 |
Little Confidence In Online Banking The United Kingdom's Financial Services Authority (FSA) has characterized consumer confidence in online banking as "fragile." To combat the trend, the regulatory body is encouraging banks to devote greater effort to fighting online banking fraud.  |
Bank Systems & Technology August 21, 2008 Maria Bruno-Britz |
EMC Offers Banks FACTA Solution Information infrastructure solutions company EMC Corp. has introduced a solution designed to help U.S. financial institutions and creditors develop and implement an identity theft prevention program compliant with the FACTA Identity Theft Red Flags guidelines and related regulations.  |
Bank Systems & Technology October 28, 2004 Ivan Schneider |
No Static at All One-time passwords mitigate online banking security risks.  |
Wall Street & Technology November 18, 2005 |
Stronger Authentication Single-factor authentication is insufficient for online financial services, according to the Federal Financial Institutions Examination Council (FFIEC).  |
The Motley Fool June 6, 2007 Tom Taulli |
EMC Pursues More M&A A new key acquisition will bolster its RSA Security division. The Verid transaction looks spot-on, and it's a strong fit with RSA's assets. That's probably not enough to calm EMC's naysayers, but it's encouraging nonetheless. Investors, take note.  |
Bank Systems & Technology February 1, 2007 Anthony O'Donnell |
Educated Opinions: 2007 Bank Technology Forecast Industry experts give their forecasts for bank technology in 2007.  |
U.S. Banker December 2005 |
Authentication: FFIEC Commands Two-Factor ID by 2006 The Federal Financial Institutions Examination Council issued guidance requiring multi-factor authentication for on-line banking customers by the end of 2006.  |
Bank Technology News October 2007 Glen Fest |
Phishing: McPhishers: Criminals Evolve Wholesaling Models Even as banks settle into two-factor authentication and their fraud- fighting tools gain some moxy, phishers across the globe are still having phun, phun, phun.  |
Bank Systems & Technology November 11, 2007 Peggy Bresnick Kendler |
Online Account Opening Provides Myriad Benefits to Retail Banks From processing efficiencies to high customer satisfaction and competitive differentiation, online account opening can help banks improve customer acquisition and profitability. But it needs to be done right.  |
Bank Technology News August 2009 Craig Priess |
On the Backs Of Mules: An ACH Fraud Scheme Banks of all sizes should consider additional fraud prevention strategies to counter today's evolving threats.  |
Bank Systems & Technology June 26, 2006 Deena M. Amato-McCoy |
Closing the Door on Criminals Banks need a consistent approach to fraud assessment and prevention, otherwise they will never truly get ahead of the problem.  |
Bank Systems & Technology February 29, 2008 Nancy Feig |
Internal Fraud Still a Danger as Banks Adjust Strategy Internal fraud occurs every day at banks across the world. New internal fraud-detection technologies allow banks to identify suspicious employee behavior.  |
Bank Technology News June 2011 John Adams |
Security that Travels With You John Finley, a three-year Bank of the West vet, recently discussed the bank's plans, the utility of 'old school' SMS, and the portability of the handset as a security tool.  |
Wall Street & Technology March 18, 2008 Cory Levine |
Identity Fraud on the Decline Despite the hype, identity fraud is on the decline, according to a new survey. But as fraudsters return to traditional channels, such as phone lines, to steal the trusting public's personal information, few financial institutions have implemented multifactor authentication for telephone banking.  |
Bank Technology News August 2006 |
Sizing Up Security: Are U.S. Banks Trailing U.K. Banks? If best practices are indeed what the U.S. banking industry seeks with regard to online security, they'll likely find some of the answers across the pond.  |
Bank Systems & Technology February 22, 2007 Michael Singer |
To Keep Consumer Trust, Try Tokens and Smart Cards Banks and other financial institutions should adopt stronger authentication measures, such as security tokens and smart cards, if they want to increase customer satisfaction with Internet banking, according to a panel of industry analysts.  |
CIO June 15, 2005 Thomas Wailgum |
You Can't Bank on Trust Trust is critical to generating customer loyalty in online banking. But with every phishing attack and e-mail scam, consumer confidence crumbles, bit by bit.  |