FDIC tests online safety

CHICAGO – Preparing to start examining banks for effective online banking risk management, the Federal Deposit Insurance Corporation (FDIC) has identified eight major technology service providers to banks, according to Jeffrey Kopchik, senior policy analyst in the agency's technology supervision branch. According to industry sources the firms are: Fiserv, Digital Insight, Jack Henry, OpenSolutions, Fidelity, S-I, Corillian and Metavante.

Speaking at the American Bankers Association (ABA) Information Security Forum in Chicago at the end of June, Kopchik said the FDIC would now focus on smaller, regional service providers as new Federal rules on authentication in internet banking take effect.

In October last year, the Federal banking agencies issued guidance on authentication in the internet banking environment, requiring banks to establish reliable processes for customer authentication, appropriate risk assessments, verification

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