INTERNET BANKING REVIEW 2006

Credit Union Management, Jan 2007

Choosing a home banking provider depends in large part on 1) how well it can help your credit union protect members' privacy and ensure their ongoing trust and 2) how responsive a vendor is to multi-factor authentication requirements.

A recent CUES Tech Port article discussed these key trends and others, plus offered an overview of the vendor market for Internet banking.

"Trends in Internet banking to watch for in 2007 include vendors' ability to meet clients' privacy and security concerns and conform to the ever-changing regulatory rules of multifactor authentication," wrote Scott Hodgins, senior director of Cornerstone Advisors Inc. (www.crnrstone.com), CUES' partner in CUES Tech Port "Cornerstone has also noted that, due to the security and authentication responsibilities, credit unions and banks of all sizes are increasingly willing to outsource Internet banking functionality. This is proving true for even the staunchest supporters of inhouse technology delivery.

"We also see core providers continuing to chip away at the specialist Internet banking companies' market share as the core players' products improve and as credit unions and banks progress with cost-cutting measures."

The full article is available as a benefit of membership in CUES and CUES Financial Suppliers Forum at cuestechport.com/internetbanking2006. If you need your members-only password or wish to join, please e-mail cues@cues.org.

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For more about CUES offerings or to place an order, visit cues.org. call CUES at 800.252.2664 or 608.271.2664, ext. 3400, or e-mail us at cues@cues.org.