Magazine article Independent Banker

ICBA Independent Banker's TecHNoloGy Tips & TRENDS

Magazine article Independent Banker

ICBA Independent Banker's TecHNoloGy Tips & TRENDS

Article excerpt

Internet banking. Document imaging. ATMs. Online loan origination. ACH payments. Network firewalls. Virtual servers. Debit and credit cards. Asset-liability analysis software. Remote deposit capture. Cash management. The list goes on. Whether out in front in serving customers or tucked away in the back room, a profusion of technology has become integral to community banking's high-tech, high-touch relationship services model.

ICBA Independent Banker has assembled some of its recent technology coverage. You can access these past articles by referencing the magazine's printed issues, or read them online at www.icba.org/independentbanker under the 2008 Technology Tips and Trends section.

Maintaining E-mail Data

Authenticating customer e-mail can be a straightforward process, but it requires planning and discipline. Consider these five key steps:

1. Establish a team. This usually includes IT/operations, security, marketing, sales and one or more third parties. Getting upper-management support up front is important.

2. Take inventory. Since all e-mail authentication methods require knowledge of the domains or IP addresses used to send e-mail, inventory is a basic but critical step. A common mistake is checking marketing-related e-mail data but not transactional or internal e-mail data.

3. Plan your attack. Be thorough and authenticate all appropriate domains. Test to ensure that messages are authenticating properly.

4. Fire away. Once e-mail data is in use, continually update authentication records.

5. Avoid traps. The most common mistakes involve incorrect records such as syntax or reference errors. Avoid incomplete records that cover only some IP addresses or domains, and outdated records that haven't kept pace with infrastructure changes.

(October 2007)

Online Service Trends to Watch

Mobile Online Banking

With cell phones and personal digital assistants proliferating on every corner of the world, consumers will be looking to do their banking business on the go. "We're seeing this emerge as an extension of online banking and payment," says Susan Hawkins, senior vice president and general manager at Metavante eBanking Solutions.

Automatic Online Payments

Online banking customers are reaping the benefits of faster, more seamless bill-pay systems. Fidelity National Information Services Inc., for example, offers a consolidated electronic bill-pay option in conjunction with more than 3,500 billers.

Personal Money Managers

Citizens National Bank of Meridian, Miss., offers online financial management that allows customers to manage all their accounts and payments through a secure Web site. The bank's site can handle transactions ranging from credit card bills to 401(k) account statements to loan payments.

"We want our customers to be able to have everything in one place and with our bank," says Tony Williamson, chief marketing officer for the $1 billion-asset community bank.

(October 2007)

Check bank account balances/transfer funds 35%

Receive text message alerts 33%

Bill charges directly to mobile account 19%

Shopping 15%

Wire Transfer 9%

Stock trading 9%

Other 3%

None of these 53%

Tapping Podcast Opportunities

Community banks are educating consumers about marketing products and services through online podcasts. Lincoln Savings Bank uses the channel to explain the benefits of Health Savings Accounts. Sun National Bank in Vineland, N.J., uses the format to deliver information on the home buying process. (April 2007)

Where the IT Risks Are

David Miner, senior director of global financial services for Symantec Industry Solutions in Cupertino, Calif., identified six categories of IT risks:

[arrow right] Internal fraud-employee theft and insider information trading.

[arrow right] External fraud-computer hacking. …

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