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IBS Journal November 2015


American Bankers Association complains about banks being hacked; gets hacked


The American Bankers Association (ABA), a lobby group well known for criticising retailers and banks over the standards of their data security, has been hacked. In what must be a painfully ironic


turn of events for the ABA, the data of up to 6,400 of its members has been stolen and posted online by a group of unidenti- fied hackers. The data includes usernames, email addresses and passwords used to register for events or purchase tickets on the ABA website. Adding insult to injury, the news of


the security breach broke as the ABA announced its participation in National Cybersecurity Awareness Month, a cam-


paign organised by the US Department of Homeland Security. Other members of the campaign –


Experian, FXCM and Trump Hotels – have also been left red-faced after admitting to similar breaches. ‘The ABA takes data security very


seriously,’ a prepared statement from the lobbying group read. ‘We also recognise that despite significant security meas- ures, breaches can and do occur.’ In an attempt to set things right,


the group has reset all user passwords on its site and requested that members create a new, more secure one as soon as possible. As yet, the ABA says, there is


no indication that the hackers acquired credit card details or other personal information. IBS Journal contacted the ABA for


comment but no response has been received to date. Another high-profile hack in the US


occurred last month, when the fingerprint data of 5.6 million people were compro- mised and stolen. The news might make some wonder if biometrics are really as secure as proponents declare, especially as more banks and institutions – like Bank of America, Mastercard and CTBC Bank – look at using the system for customers.


Alex Hamilton


First Hawaiian Bank in digital banking and payments systems revamp


First Hawaiian Bank has selected a suite of digital banking and payments products from US-based vendor Fiserv. The new services, says Fiserv, will help


First Hawaiian Bank ‘keep pace’ with cus- tomer expectations for innovation and technology improvement. The bank has selected Fiserv’s Coril-


lian Online for online banking, Mobiliti for mobile banking, Checkfree RCP for elec- tronic bill payment and the Popmoney personal payment service. First Hawaiian Bank will be provided


with regular ‘update packs’, according to Fiserv.


‘Superior service’ The bank’s users will now be able to per- form mobile banking via an app, browser or through SMS. New person-to-person payments and multi-factor authentication features, believes Fiserv, will aid First Hawaiian Bank in gaining new customers and increase engagement. As part of the deal, First Hawaiian Bank will be introduced into the Fiserv cli- ent community, where customers of the vendor are able to gather information and


Honolulu, home of First Hawaiian Bank © Hakilon, Wikipedia


network ideas. ‘First Hawaiian Bank has a reputa-


tion for superior service,’ says digital channels president at Fiserv, Marc West. ‘Enhanced digital capabilities will allow them to increase customer satisfaction and engagement’.


Want better clarity on your vendor selection process? IBS launches IBS Chat


First Hawaiian Bank is the oldest and


largest bank in Hawaii, with around $18.7 billion in assets. Its retail banking system is operated by FIS’s Systematics core while its trade finance services are underpinned by Misys’ Trade Innovation.


Alex Hamilton


IBS Intelligence has launched its IBS Chat Forum, a global platform to bring industry participants together on everything related to banking and financial services technology. Log on to www.ibsintelligence.com/ibschat and connect with peers across the globe now!


us round-up


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