Mobile banking is growing at a feverish pace to emerge as a powerful "right here, right now" channel for banks to connect with their retail and business customers, as well as reach new customer segments. Mobile banking is already a strategic business and technology priority for the top U.S. banks. While these major players have the financial and technical resources to make a strategic commitment to the mobile channel, most mid-tier and small banks are innovation and/or cost-challenged on this front. New research from TowerGroup finds that core banking technology vendors have a big role to play in helping mid-tier and small institutions take advantage of this emerging channel that will soon be a cost of doing business.

In the face of growing Internet-based fraud, money is rapidly becoming ‘no object’ for the banking community. After all, we protect plenty more than dollars and cents. We’re protecting identities, for if we don’t, our customers will surely leave us!

The Federal Financial Institutions Examination Council (FFIEC) issued updated guidance for examiners, financial institutions and technology service providers to identify business continuity risks, and evaluate controls and risk management practices for effective business continuity planning. The guidance is an update to the “Business Continuity Planning Booklet,” which was issued in March 2003.

Worms are maliciously written destructive software code usually transmitted, via a network, as an attachment to an electronic message or file. Worms reproduce themselves until they have consumed all of the available system resources. Further, they can unleash embedded viruses designed to modify or eliminate existing files, address books, and directories. They can also attach themselves to electronic address books and direct the transmission of corrupted e-mail messages throughout your bank, cus­tomer base, or vendor listings.