John Sharp first contacted me in May 2007, via Linkedin. I was Head of Online Sales at Lloyds TSB, and John came across my Linkedin profile and my blog.
John is the CEO and Chairman of Authentium,
a Miami based company specialized in securing customer communications
and transactions. John is constantly travelling the world: we have
already met twice in London (we met again last week) and he is
spending the next couple of days in Asia.
Online security is a major concern for customers... and for banks. Phishing
is still a big issue in the UK. 53% of phishing emails
originate from the US, according to a recent study by ClearMyMail. It
looks like fraudsters become more and more clever by the day.
Customer confidence and trust in online banking is low, and it is a challenge banks need to address quickly.
Banks must find innovative ways to reassure their clients
Most solution providers acknowledged the importance of online security. At Finovate in New York, I saw the excellent demonstration from CheckFree:
their solution can be configured to call your client on his mobile
phone and ask him for his pin before allowing him to connect to your
online banking service.
More and more banks are providing two-factor authentification.
John shared with me an anecdote in Asia where most banks are providing
a widget for 2FA. One day, he met that man who had several banking
relationships: he had to make sure his pocket was big enough to carry
all those widgets...
2FA is not the perfect solution, and it is
quite costly to roll out (costs for the widgets, shipping them to your
clients, educating your customers, providing customer support...) and people can loose their widget.
Authentium: secure your customer communications
Authentium provide two key products that I found extremely interesting:
* VERO, a secure web browser
* elements with VirtualATM, a secure desktop widget platform.
With those two solutions easy to rollout, banks can make sure they communicate with their clients in a secure way. Moreover, it could be a good marketing tool to increase your customer base and retain your valuable customers: it is easy to install, easy to use, and it is reliable.
With elements, marketeers can push relevant service info or promote a product directly to their client desktop. Then, clients can initiate a secure session to increase their confidence online.
Interview with John Sharp
Visible Banking News #7
On regular basis (ideally weekly), I will post a list of key news on web 2.0 & Banking.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!
NEWS - 21 May 2007 to 27 May 2007
BLOGGING
* Wordpress grows beyond 1 million blogs - 24 May 2007
* New CU Blogs: Midwest Financial, Old Hickory, and Secure One Credit Unions - 21 May 2007
CUSTOMER COMMENTS
* Online banks hardly stuff of sword-and-sandals epic - 24 May 2007
* Making the Switch to Unadulterated Online Banking - 24 May 2007
CUSTOMER EXPERIENCE
* Wells' Web makeover woos punters and analysts - 25 May 2007
* Abbey in bank holiday meltdown - 25 May 2007
EVENTS
* Next MobileMonday Austin event: Mobile Banking and Payments, June 11 '07 - 26 May 2007
FRAUD
* A decade of online banking - and online fraud - 25 May 2007
* Anti-phishing filters bypassed in IE7? - 25 May 2007
* A first in Quebec's banking industry - Laurentian Bank innovates: 2 additional security barriers for online transactions - 24 May 2007
* Credit cards are still very vulnerable online - 24 May 2007
* Transaction hijacking - cheaper alternatives, at point of purchase - 24 May 2007
* Target 5 Warns Of 'Online Insecurity' - 24 May 2007
* House Passes Anti-Spyware Legislation - 23 May 2007
* Cyber fraudsters target accounts with 'one cent deposit' scam - 21 May 2007
INTERVIEWS
* Wells Fargo & Company at Lehman Brothers 10th Annual Financial Services Conference - Final - 23 May 2007
LAUNCHES
* Singapore's DBS Bank unveils plans for expansion in China - 25 May 2007
* ANZ and ING introduce direct access banking for pension funds - 25 May 2007
* Who launched the UK's first Internet bank? - 23 May 2007
* First National Bank of Omaha Launches Internet Bank - 22 May 2007
* Alliance & Leicester Commercial Bank extends bill payments network - 22 May 2007
MARKETING
* Tenth anniversary of online banking - 27 May 2007
* Apacs marks 10 years of Web banking - 22 May 2007
* One-quarter of 50 Largest Online Advertisers are From Financial Services - 21 May 2007
MOBILE BANKING
* Mobile Phones Revolutionize African Banking - 24 May 2007
* ING Direct Adds Mobile Banking - 24 May 2007
* NY Times Reviews Citi Mobile - 24 May 2007
* Barclays introduces mobile banking services - 23 May 2007
* Bank of America completes m-banking roll out - 22 May 2007
PERSONAL FINANCE
* Mint.com Set to Freshen the Personal Finance Space* - 23 May 2007
REPORTS
* Traditional vs. online banking: Which one is for you? - 27 May 2007
* Case Study: Metrics Drive Wells Fargo's Home Page - 23 May 2007
* Online banking boosts direct debits - 23 May 2007
SOCIAL LENDING
* New Person-to-Person Lender, Lending Club, Hopes Facebook Linkage Allows it to Prosper - 25 May 2007
* Social lending goes red hot, as FaceBook enters the space with “LendingClub” - 25 May 2007
* Now there's big money in P2P - 22 May 2007
* Virgin enters the P2P loan market - 20 May 2007
SOCIAL NETWORKING
* Facebook | will people share their pictures, thoughts and information with commercial interests? - 26 May 2007
* Prosper and Forbes tap Facebook; Co-op Bank joins MySpace - 25 May 2007
* Social Networking to infinity and beyond - 25 May 2007
* Could FaceBook risk becoming another AOL? - 25 May 2007
* Social Network ad spending predicted to grow (eMarketer) - 24 May 2007
* Community ROI - a sensible view - 24 May 2007
* A sense of community - 23 May 2007
VENDORS
* Origo to develop XML standards for full mortgage applications - 24 May 2007
* Financial Objects ships mortgage module - 23 May 2007
Posted by Christophe on May 27, 2007 in Blogging, Customer comments, Customer experience, Events, Fraud, International, Interviews, Launches, Marketing, Mobile banking, News, Personal finance, Phishing, Reports, Social lending, Social networking, Vendors | Permalink | Comments (0) | TrackBack (0)