Headlines:
BOK Plans Remote Check Capture Service Zions Picks Security Software from RSA iPay Agrees to Offer VeriSign Software Bankers' Bank Northeast to Clear for Fiserv
BOK Plans Remote Check Capture Service
BOK Financial Corp. of Tulsa plans to offer remote check-capture services to its commercial customers this fall, using software from NetDeposit Inc.
NetDeposit, the check-imaging unit of Zions Bancorp. of Salt Lake City, announced the agreement Tuesday.
Alan Aaron, BOK's senior vice president of treasury services, said his company has customers lined up for a pilot test in the fall. It expects to begin a full rollout throughout its six banks in the fourth quarter, he said.
Mr. Aaron said he hopes remote capture will bring new commercial customers and deposits to BOK, improve its service, and extend its reach into markets where it has few or no branches. Remote capture lets customers convert paper checks into digital images and transmit them to a bank for deposit.
BOK operates Bank of Oklahoma, Bank of Texas, Bank of Albuquerque, Bank of Arkansas, Bank of Arizona, and Colorado State Bank and Trust. Five of the banks are capturing and archiving check images on the prime pass through their reader/sorter machines, but the largest, the flagship Bank of Oklahoma in Tulsa, still stores check images on microfilm, Mr. Aaron said.
Zions Picks Security Software from RSA
Zions Bancorp. is using authentication software from RSA Security Inc.
This deal, announced Thursday, is RSA's first customer announcement since the data storage company EMC Corp. of Hopkinton, Mass., announced June 29 that it was buying RCA.
The discussions with the Salt Lake City bank holding company have been going on for some time, and predate RSA's December acquisition of Cyota Inc. and its April purchase of PassMark Security Inc. Those acquisitions provided the technology that Zions has installed.
The holding company's Zions Bank retail banking unit has been using Cyota's transaction-monitoring software and its eFraudNetwork, which pools observations from participating financial institutions to stop fraudsters who try to attack more than one bank, since early 2005.
The bank has also combined this with the PassMark software to create a system it calls SecurEntry. The PassMark software presents a personalized image to people who visit the bank's Web site, to prove that the site is legitimate. The software also attempts to identify users' computers. If it does not recognize the computer, it asks challenge questions that users must answer before being allowed to log in to the banking site.
Preston Wood, a senior vice president and the chief information security officer at Zions Bancorp., said the bank began testing the PassMark software about six weeks ago and began offering it to all online banking users this week. Users have a 30- to 45-day grace period before they are required to use it when they log in.
iPay Agrees to Offer VeriSign Software
iPay Technologies LLC has agreed to offer its customers authentication software from VeriSign Inc.
VeriSign, of Mountain View, Calif., announced the deal Tuesday. It said its Identity Protection Fraud Detection Service software can detect fraudulent login attempts and unauthorized transactions in real time. It also uses pattern-recognition technology to "learn" customers' Web habits and spot fraud.
The software can be installed quickly and easily because no modifications to the customer's transaction processing software are needed, VeriSign said.
iPay is based in Elizabethtown, Ky.
Bankers' Bank Northeast to Clear for Fiserv
Fiserv Inc. has selected Bankers' Bank Northeast to provide settlement services for the Fiserv Clearing Network in that region.
The deal, announced Tuesday, makes the Glastonbury, Conn., wholesale correspondent bank the 11th regional settlement agent for the Brookfield, Wis., technology vendor's private check-clearing network.
Bankers' Bank Northeast serves more than 155 community banks in New England and New York.
Fiserv launched its clearing network in May 2004 to offer check clearing and settlement to the 1,700 banks that outsource their item processing to Fiserv or use its software in-house.
