Don't Be The Next Big Catch: Register For Your .Bank Domain

 BANK

.BANK is not just another way to change up your domain name, it's a proactive and protective measure put in place to give you peace of mind that your customers are protected. Phishing in the financial industry is all too common, as it is the #1 cyberattack and starting point of most breaches. This reason alone is why .BANK domains are so important to implement.

If you'd like to skip straight to a downloadable flier that further explains how .BANK protects your customers, click here.

Not convinced yet or want more information? Here's why you should register for a .BANK domain:

VERIFICATION

Having a .BANK domain provides extra verification for your organization, as only verified members of the global banking community are approved for these domain names. These domain names make it easy for your customers to distinguish authentic emails or communications from your financial organization in comparison to a phishing attempt.

According to Kaspersky Lab, in 2017 the share of financial phishing increased from 47% to 54% of all phishing detections, which is a record-breaking high for financial phishing. You want your customers to confidently recognize and communicate with your organization, and without a .BANK domain nothing is promised. Anyone can register for a generic domain such as .COM or .NET, but only legitimate financial organizations can register for a .BANK domain name.

Related: What is Phishing?

EXTRA SECURITY MEASURES

Kaspersky Lab also found that more than every 4th attempt to load a phishing page was related to banking phishing. Financial organizations are the "big catches" when it comes to phishing, which is why extra security measures must be taken. These special domains include those extra security measures, from further authentication, to an increased level of encryption, to abuse monitoring and compliance enforcement so that only verified financial organizations can utilize .BANK domains.

Further authentication is just another road block in recognizing and stopping malicious attempts to steal personal information. If your customers see something linked to a .BANK domain, they know they can trust it. An increased level of encryption will help to drastically decrease the chance that customers are redirected to sites disguised as your own that could steal their account information. .BANK domains also come with compliance and requirements to maintain a strong level of security, so financial institutions must allocate a point of contact from their organization to help continue to verify their organization.

Related: Fight Cybercrime With User Awareness Training

.BANK domains play a huge role in preventing cybercrime in the financial industry. Phishing attempts are becoming more and more common, and financial institutions are the big catches. With the security, verification processes, and requirements of obtaining a .BANK domain, you can ensure your customers that anything from your domain name can be trusted and that their data is safe with you.

 

For more information on how .BANK protects your customers through verification, domain name integrity/domain name system security extensions, and strong encryption, click below.

Click here: Protecting Your Customers With .Bank

 

 

 

 

 

 

 

 

 

 

Topics: Security, Outsourced IT, Phishing, Cybersecurity, Financial

NBA Bank Technology Event Recap: Financial IT

 NE Banker's Reformatted

We had a great time at the Nebraska Bankers Association Bank Technology Conference last week. We got the chance to connect with financial organizations across the state of Nebraska that want to prioritize their technology and implement it in the right ways to drive business success.

To assess what kind of role IT plays across various organizations, Five Nines developed an IT Assessment Quiz that users could take at the Bank Technology Conference.

IT ASSESSMENT QUIZ

This assessment was implemented to help organizations analyze their own IT environments.

Based on the results, we discovered that 81% of participants have experienced trends such as:

  • Their IT still tends to be an afterthought for compliance rather than an intentional business unit.
  • Many organizations prioritize backwards, from the “requirements” and compliance audit, back to the day to day operations of the bank, giving temporary blindness to the inefficiencies or deficiencies that impact the front line employees the most.
  • The landscape for smaller community banks continues to put increased pressure on their employees. Many of which are assigned formal roles on paper, but lack the time or expertise to drive that area of focus operationally.
  • More and more organizations are seeking the involvement of a true partnership, rather than a vendor relationship, as a result of the continued focus on compliance in IT.

The quiz results also showed that only 27% of businesses have a formal 1, 3, 5 year IT budget and road map that is reviewed on a quarterly basis.

If you'd like to analyze your own IT environment by taking our free 5 question IT Assessment quiz, click below: 

Take Our IT Assessment Quiz

It is because of these results that we were happy to connect with all of the organizations who attended the Bank Technology Conference last week to start the conversation about the ways organizations within the financial services industry can innovate their business technology.

All in all, it was a great day that focused on the importance of workplace technology and IT services. 

Didn't get a chance to connect with Five Nines at the event? Click below to connect, and allow us to power your day with a Five Nines power bank for any future events!

Click to Connect

 

Topics: Outsourced IT, Managed IT Services, Financial

The Future of Financial Technology in 2018

THE FUTURE OF FINANCIAL TECHNOLOGYTechnology will continue to impact change within the financial services industry throughout 2018. According to a survey conducted by Deloitte, there are differing opinions from financial services leaders about how technology will drive change. Over two-thirds of respondents from this audience believed technology innovation will push for change within the industry, while one-half claimed that regulation will be the pressing factor.Regardless of how technical changes will impact the industry - whether it's instant, or gradual, there will be changes not only in 2018, but within the next 5 years.
 

SECURITY

Research conducted by IBM states that the financial services industry was within the top 2 industries targeted the most by cyber-attackers throughout 2017. This means financial organizations experienced 65% more attacks than the average company. This jarring statistic means that financial companies need to continue to take preventative action in 2018. First, don't allow employees to fall victim to a cyber-attack. Implement the right awareness and training to prepare all teams. The 2017 State of Cybersecurity in Small & Medium-Sized Businesses Report by Keeper Security shows that 48% of SMBs experienced a phishing attack last year, so it's recommended to develop a plan to address phishing scams ahead of time. Finally, ensure that all of your cybersecurity tools are up-to-date and working together.

MOBILE PAYMENTS

Mobile payments and transfers will continue to grow in 2018. Millennials prefer the use of their on-the-go digital devices whenever possible, which is why mobile within the financial industry will continue to skyrocket. This digital demand will push the industry to newer heights, as they will have to continue to streamline and implement efficient mobile payment systems. Applications such as Apple Pay and Android Pay, PayPal, Venmo, as well as banking applications will continue to grow in use and popularity, and will need to have the ability to work together seamlessly.

MODERNIZATION

There are many technical resources that banks are using to keep track of their assets. Modernizing core IT infrastructures so that operations run smoothly will become a trend in 2018 as technology continues to be implemented in different ways. Companies within the industry must maximize the use of their tools while minimizing the amount of tools they are using to ease confusion and streamline the overall environment.

Staying on top of industry changes and being open-minded to technological changes is extremely important when maintaining a successful and efficient IT environment. There's a pattern when it comes to workplace technology, change makes users uncomfortable, especially in the banking industry. Organizations don't want to compromise their processes or make their clients uncomfortable. As we have seen technology evolve throughout the years, however, one thing remains clear. Companies always have to evolve their technology eventually.

Be proactive, don't be afraid to make changes, and continue to keep workplace technology top of mind in 2018. Download our free Network Health Check today to briefly assess the quality of your IT environment. 

Click Here For Your Free Network Health Check

Topics: Phishing, Cybersecurity, Business Continuity, Financial