20 Hoosier Banker May 2015 OPERATIONS / TECHNOLOGY Master Your .BANK Domain: Six Steps to Success For bankers, the world of the Internet is about to change. This year the global banking community, led by fTLD Registry Services LLC (fTLD) and supported by dozens of associations and industry leaders, including the American Bankers Association and the Financial Services Roundtable, will have the opportunity to create a new online location for their businesses. Currently more than 1,000 new domain extensions are making their way to the Internet, but only one has been created by banks, for banks. It’s called .BANK. .BANK is a new, more secure Internet domain for banks. It is an easily identifiable channel for trusted communications between banks and their customers, plus a place for growth and innovation. Only verified members of the banking community can have a .BANK domain for their trademarks, trade names and service marks. Banks contend with a range of operational issues, from launching and cross-selling financial products, to improving customer retention, to meeting compliance and regulatory requirements. In addition banks must protect their assets and operations from the threat of cybersecurity. Migrating to a .BANK domain can provide answers and options. Because .BANK is new, the ways that banks will use the domain undoubtedly will vary. There is one trait, though, that every bank has in common regarding .BANK: the need to get ready now. According to Craig Schwartz, managing director of fTLD, the private company that is owned, operated and governed by banks, insurance companies and respective trade associations: “Our research with banks shows a high level of awareness about the .BANK domain; however, -IN
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