Huntington National Bank (Columbus, Ohio) deployed VASCO Data Security International's (Chicago) Digipass GO 3 authentication token and VACMAN Controller management platform to further protect its business users. Since November 2006, all new business customers who use the Huntington Business Online Web site have been required to use Digipass GO 3. For existing business customers, the rollout of the Digipass devices began in October 2006 and will be completed in April.
The Digipass GO 3 generates a unique one-time password that cannot be hacked or compromised, according to the vendor. Huntington business customers use the device in combination with a company ID, user ID and user password for added security during online banking transactions. Digipass GO 3 also is enabled with host-authentication functionality, which allows users to verify the authenticity of Huntington's site.
"It is our duty to give our online users best-of-breed protection against phishing and other fraud schemes" said Pam Erickson, VP and online channel group manager for Huntington. "With VASCO's products, we are well-armed to secure our customers without jeopardizing ease of use and convenience." *
** Citi Rolls Out Moody's CreditMark Platform
To value its illiquid loan assets and compare model prices to observed market prices, Citigroup (New York) rolled out the CreditMark loan pricing platform from Moody's KMV (San Francisco) to the bank's global client base and internal trading desks. CreditMark combines analytics and derived market data to value liquid and infrequently traded loans. The system enables quantification of complex components of loans, such as credit dependent pre-payment options, grid pricing and revolver utilizations, the vendor says.
** FNB of Litchfield Converts to COCC
First National Bank of Litchfield (Conn.) has converted to COCC's (Avon, Conn.) core technology platform. The conversion to COCC's open technology has reduced the number of computer systems used by the bank from three to one, simplifying staff training and delivering a more uniform and comprehensive customer experience, according to a release. The new platform includes prompts that identify cross-selling/up-selling opportunities and automatically tracks sales and referrals for incentive compensation. According to the bank's president, COCC's technology has increased efficiency and flexibility, and improved the bank's ability to understand its customers.
** Shinkin Rolls Out Hitachi Vein Authentication
The New York office of Japan's Shinkin Central Bank (Tokyo) has begun using Hitachi's (Tokyo) access control system, which is based on finger vein authentication technology. Hitachi says this is the first U.S. application of its technology. Shinkin is using the vascular biometric access control system in its trading room, operation room and server room. Before entering a room, users enter their ID number into a keypad and then place a finger on a reader for validation of the unique vascular pattern.