Will NSA Code-Cracking Dent Online Banking Security?

From American Banker 

“Recent reports that the National Security Agency has been undermining encryption on the Internet raise questions about the security of online banking data. The spy agency has been installing "back doors" in commercial software and introducing weaknesses to industry encryption standards, according to documents leaked to the media by Edward Snowden. The good news (such as it is) is that cybercriminals may not take advantage of these vulnerabilities, since they usually focus more on tricking humans through tactics like phishing than on the time-consuming work of cracking codes.”

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What IBM-Trusteer Deal Means to Users

From Bank Info Security 

‘Big Blue is marketing Trusteer's wares beyond the financial sector. With IBM planning to acquire Trusteer, a security software company specializing in anti-fraud products for financial services organizations, enterprises can expect to see security technology that originally targeted financial institutions spread into the broader security market.

"There is a lot of room for innovation to expand into the broader enterprise market" as organizations need to protect their web applications from attackers, says Avivah Litan, a distinguished analyst with market research firm Gartner. "This doesn't have to be just banking." ‘

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Open API for Bank Apps: Can Credit Agricole's Model Work in the US?

From American Banker

“When a bank wants some out-of-the box thinking, it might help to look outside the industry not only for ideas but also for the finished product.

That's what French bank Credit Agricole did when it launched the CAStore, an online marketplace that essentially crowdsources ideas for new banking applications from customers and gives developers the technological tools they would need to create apps that either fulfill the wish list or are based on ideas they've dreamed up themselves.”

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What we are reading … 25th March 2013

Banking on cloud http://www.finextra.com/Community/FullBlog.aspx?blogid=7474

7 Ridiculously Simple Social Media Fixes For Financial Marketers http://bit.ly/148OV3t

RBS to put £700m into upgrading its aging retail banking operations http://dld.bz/crWAW

How Banks Can Compete In the Mobile Shopping Market http://twb.io/YRyELq

Should you switch to an online-only bank? http://on.mktw.net/16GZyKv

FirstMerit Unveils Website that Responds to Mobile Devices http://dld.bz/crWAR

Is China after More than IP? http://www.bankinfosecurity.com/blogs/china-after-more-than-ip-p-1441#.UUlGk7PaXGo.twitter The future for digital wallets http://www.finextra.com/Video/Video.aspx?videoid=354

Online Banking 2.0: Getting Visual

“Let’s face it: online banking hasn’t fundamentally changed since it first rolled out over a decade ago. It’s an online version of a checking register and little else. But times are changing. Financial institutions everywhere are transforming their once dry and dull online banking systems into robust, feature-rich visual user experiences.It’s what has become loosely defined as “personal financial management,” or PFM — the visual representation of financial information intended to aid consumers with account management, budgeting, saving and other banking decisions.”

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