Banking Industry Fights Back Against Cyber-Fraud

BOSTON, Aug. 3, 2016 /PRNewswire/ -- Cyber-attacks are a daily occurrence, with bank websites being one of the prime targets.  An industry-led consortium of major banking associations is helping banks fight back with a new secure extension reserved exclusively for banks, appropriately called .BANK

With soaring renewal rates of over 88% after the one-year anniversary of the .BANK extension, the message is clear: thousands of banks, including over 40% of all banks in the U.S., are making the move.  .BANK is becoming a trusted, more secure, and easily identifiable location on the Internet for banking websites.  .BANK websites have security requirements that exceed that of other existing extensions like .COM. In addition, .BANK opens up much needed real estate on the Internet, providing new marketing and branding opportunities for banks big and small.

The strong adoption of .BANK domains indicates that the banking industry in the United States is taking proactive steps to prevent these cyber-attacks.  By moving en masse to the .BANK extension, the banking industry is making an aggressive move to boost the security for on-line banking.   

Every bank with a .BANK website is mandated to follow a core set of security measures designed to thwart cyber-crime.  For most small community banks, staying on top of technological advancements helps them manage potential threats and keep their customers' information secure. Continual vigilance and learning about new threats and how to address them should be a priority for all financial institutions.

William Kahl, Vice President and Compliance Officer at Choice Bank, describes the strengths they found in switching to WWW.CHOICE.BANK, "It's all about security. The .BANK domain prevents cybersquatters and protects our domain name, blocks older and less secure technology from accessing our website, and minimizes potential phishing attacks on our customers."

Security and trust are not the only benefits for those adopting the new extension.  .BANK enabled Lead Bank with the opportunity to secure a short, memorable and intuitive domain name that better corresponded to its corporate brand.  Years ago when Lead Bank discovered that their desired domain was costing in excess of $50,000 on the aftermarket, they reluctantly settled on the cumbersome address of LEADBANKONLINE.COM.  Upon learning of the .BANK initiative through the Independent Community Bankers of America, Lead Bank selected EnCirca as their .BANK registrar and registered the short and simple WWW.LEAD.BANK as their new internet address. Not only did this adoption align with Lead Bank's strategic plan, but it offered a competitive advantage over local banks that have yet to adopt .BANK.

Joshua Rowland, Vice Chairman of Lead Bank discusses on the decision making process to purchase a .BANK, "When you're talking about small banks with seriously limited tech budgets—when you can make an improvement at the core of your operations with your clients—that is the easiest budgetary decision you can make."

Hundreds of banks have already made the switch.  Some banks have accomplished a full migration in as little as three months.  Others are currently in the process of implementing their .BANK website.    Going forward, the trend is clear.  .BANK is the future of on-line banking.

About EnCirca

EnCirca is the leading ICANN Registrar for security-conscious domain extensions, including .BANK and .INSURANCE. EnCirca is one of the few ICANN Registrars to complete a SOC 2 Type II Audit, an Independent Service Auditor's Report on Controls Placed in Operation Relevant to the Trust Principles of Security, Availability and Confidentiality. In addition, EnCirca's website receives an A+ in third-party vulnerability scans. For more information, please visit www.encirca.com/bank or call +1.781.942.9975.

Related Links

http://www.encirca.com/bank

Contact:

Thomas Barrett

1.781.942.9975

SOURCE EnCirca, Inc