CIBC continues mobile banking innovation with free CIBC Home Advisor App for all Canadian homebuyers - Yahoo Finance

New App for iPhone(R) and BlackBerry(R) smartphones gives Canadians instant access to mortgage tools, advice, and neighbourhood information, while they're out looking for a new home

TORONTO, Jan. 31 /CNW/ - After becoming the first major bank in Canada to launch a mobile banking App last year, CIBC today announced another mobile innovation with the launch of the free CIBC Home Advisor App for all Canadians, that gives homebuyers access to helpful information, tools, and advice right from their iPhone or BlackBerry smartphone while they're out house hunting.

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"Buying a home and choosing the right mortgage are among the biggest financial decisions Canadians will make in their lifetime, which is why it's so important they have the tools and advice to make an informed decision," said Christina Kramer, Executive Vice President, CIBC. "With the CIBC Home Advisor App, all Canadians have access to advice and information in the palm of their hand."

The CIBC Home Advisor App for iPhone and BlackBerry lets you:

Track and compare properties visited by taking and storing your photos, and completing a homebuyer's checklist for each home View neighbourhood maps and get immediate access to average property valuations and trends Request detailed neighbourhood reports for properties of specific interest Post, tweet, text or email details of the properties and neighbourhoods you are considering to share them with family and friends in real-time Access four different built-in calculators to help determine what you can afford, if you should rent vs. buy, the equity in your home, or your mortgage payment options Request a CIBC Pre-Approved Mortgage Certificate for financing to lock in an interest rate so you can search for your new home with confidence Contact the nearest CIBC Mortgage Advisor and arrange to meet wherever is most convenient for you to get advice on your mortgage options

"Canadians can now instantly review the homes they've just seen, learn about the neighbourhood, and start the pre-approval process all over a cup of coffee in between open houses," says Kramer. "They could even be standing in the home of their dreams while they apply for a mortgage pre-approval and connect with a CIBC Mortgage Advisor to get advice."

With the CIBC Home Advisor App, first time homebuyers and experienced homeowners alike can get answers to their questions along the way, with articles that provide helpful information about the purchase, financing, or sale of a home.

CIBC Home Advisor for BlackBerry has been certified a Super-App by RIM and leverages the BlackBerry Application Platform to integrate the specific user experience and BlackBerry features, including maps and GPS, social media, camera, and deliver an always-on experience. 
 
The CIBC Home Advisor App is also available on the iPod Touch, which clients can use over a wi-fi connection. Clients can visit the App Store on iPhone and iPod touch for a free download of the CIBC Home Advisor App, or visit the BlackBerry App World on their BlackBerry smartphone.

CIBC provides its clients with among the most extensive choice for banking across Canada with nearly 1,100 branches, including 7-day a week branch banking and almost 4,000 ABMS, 24-hour access through mobile banking, telephone banking, and online banking through www.cibc.com.

For more information and advice, visit www.cibc.com/homeadvisor or your local CIBC branch, or call 1-800-465-CIBC (1-800-465-2422).

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Online Banking & Windows: A Dangerous Combination - All Business

Every popular technology follows a familiar curve. What starts as an obscure, complicated, niche product inevitably gets cheaper, faster, and easier to use.

Malware is no different. Exploits that once required real chops to pull off are now available as ready-built attack toolkits. The only barrier to unleashing one of these things is the user's willigness to break the law.

And there's no shortage of people prepared to cross that line.

Bank accounts are probably the single most popular target for these attackers. Malware like ZeuS and its cousins can infect a system, capture bank login information, and allow a criminal to drain a victim's account in a matter of minutes. Some ZeuS variants will even disable a user's operating system to knock them offline and buy the thief some extra time.

Here's what you as a small business owner need to know: Federal banking regulations protect consumers against financial losses due to fraud. Business bank accounts do not enjoy the same legal protection. While some banks might reimburse a small business that falls victim to malware or online fraud, the vast majority will not.

Think about that for a moment. A single piece of malware on the wrong PC, at the wrong time, could empty your bank account and destroy your business. And there won't be a thing you can do about it.

Those are the stakes. Now here's the solution: A Linux Live CD.

If you have no idea what I'm talking about, don't worry. We'll get you up to speed right now. Here's how security expert Brian Krebs describes the concept:

These are generally free, Linux-based operating systems that one can download and burn to a CD-Rom or DVD. The beauty of Live CDs is that they can be used to turn a Windows based PC into a provisional Linux computer, as Live CDs allow the user to boot into a Linux operating system without installing anything to the hard drive. Programs on a LiveCD are loaded into system memory, and any changes -- such as browsing history or other activity -- are completely wiped away after the machine is shut down. To return to Windows, simply remove the CD from the drive and reboot. More importantly, malware that is built to steal data from Windows-based systems simply won't load or work when the user is booting from LiveCD.

There's the real benefit of a Live CD: Malware like ZeuS never gets a chance to load, so it never gets a chance to attack your bank account. It's the closest thing to perfect security you're going to get in the real world.

(Using a Mac or a regular desktop Linux system can be a good alternative -- malware like ZeuS very rarely targets these OSes. But neither is as safe as using a Live CD.)

Krebs' tutorial on using a Live CD has been around for a while now, but I think it's more relevant than ever. Back in 2009, account-sniffing malware was a curiosity; today it's a plague. And these instant-malware kits, available to anyone willing to buy them, are going to cause the problem -- and the losses -- to explode over the next 12 months.

Here's the bottom line: Don't access a business bank account using a Windows PC. Just don't do it. Ever.

One mistake could cost your business everything, and that's just too high a price to pay. The time you spend learning how to bank using a Linux Live CD might be the best business investment you'll ever make.

Feeling social? Follow me on Twitter @mckenzie_allbiz.

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Online Banking Vendor Offers Free Trial - Credit Union Times

Jwaala LLC is now offering credit unions the opportunity to deploy its online banking platform without committing to buy it.

The “try-before-you-buy” pilot program is available to credit unions running on the Symitar Episys core processing platform, according to the Austin, Texas, provider of the MoneyTracker Better Online Banking (BOB) platform and personal financial management solution to about 35 credit unions.

The pilot can be deployed in two days and “allows those interested in the platform to pilot a fully functional version of the application within their own environment using the institution’s live transaction data,” the company said.

Jwaala was launched five years ago as a CUSO of Amplify FCU in Austin and has since been taken private. More about the pilot program is available at www.jwaala.com/webcast.

Jwaala LLC is now offering credit unions the opportunity to deploy its online banking platform without committing to buy it.

The “try-before-you-buy” pilot program is available to credit unions running on the Symitar Episys core processing platform, according to the Austin, Texas, provider of the MoneyTracker Better Online Banking (BOB) platform and personal financial management solution to about 35 credit unions.

The pilot can be deployed in two days and “allows those interested in the platform to pilot a fully functional version of the application within their own environment using the institution’s live transaction data,” the company said.

Jwaala was launched five years ago as a CUSO of Amplify FCU in Austin and has since been taken private. More about the pilot program is available at www.jwaala.com/webcast.

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US Consumer Online Banking Solution Review: It's All in the Eyes of the Beholder - PRLog (free press release)

PRLog (Press Release) – Jan 20, 2011 – Boston, MA -- Mercator Advisory Group today released the “US Consumer Online Banking Solution Review: It’s All in the Eyes of the Beholder” research report which reviews the functionality of the leading online banking solutions and identifies the market leading systems.  

The thirteen solutions that were reviewed serve over fifty percent of the banks and credit unions in the US and more than eighty percent of the institutions with over $500 million in assets.  The ten vendors participating include the leading core banking vendors as well as delivery channel and online banking specialty vendors.  

“Online banking adoption continues to grow and someday will challenge the branch for the title of preferred channel” said Bob Landry, Vice President, Mercator Advisory Group’s Banking Group.  “In light of the revenue challenges brought on by debt avoiding consumers and revenue losses due to harsh new financial reform regulations, bankers need to do whatever they can to move more of their sales and service interactions to the low cost online banking channel.  All of the solutions reviewed in this report provide a strong foundation for reliable service and cost reduction.  This report identifies those solutions that stand above the rest by offering an innovative and flexible platform that can support institutions that want to manage their online banking solution as a competitive weapon rather than a low cost delivery channel.”

Highlights of US Consumer “Online Banking Solution Review: It’s All in the Eyes of the Beholder” report includes:

Among the solutions tested, Fiserv’s Corillian Voyager is rated the number one solution based on achieving leading scores in both the functional breadth and capability depth measurement areas.

A newcomer on the scene, Jwaala a four year old startup focused on credit unions, ranked second with an innovative online banking solution built around an easy to use number one ranked PFM suite.

Leveraging their investments in online banking and personal financial management, Intuit Financial Services’ Consumer Solutions was the leading solution for the community bank market.

Personal Financial Management (PFM) solutions are gaining momentum as solution providers’ deliver new functionality with more on the way.

Social Media capabilities are limited among the 13 solutions reviewed with six solutions lacking an offer in this area.

This report is 24 pages long and has 11 exhibits.

Companies mentioned in this report include: Fiserv, FIS Global, Harland Financial Solutions, Intuit Financial Services, Jack Henry & Associates, Jwaala, Online Resources, Open Solutions, Q2, S1 Corporation and Sybase.

Members of Mercator Advisory Group have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.

Please visit us online at www.mercatoradvisorygroup.com.

For more information, please call Mercator Advisory Group's main line: 781-419-1700 or send email to info@mercatoradvisorygroup.com.

About Mercator Advisory Group
Mercator Advisory Group is the leading, independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors.

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Auditors to Coxsackie-Athens CSD: Toughen online banking practices - TMCnet

COXSACKIE, Jan 21, 2011 (Times Union - McClatchy-Tribune Information Services via COMTEX) -- State auditors criticized Coxsackie-Athens Central School District officials for not having more safeguards in place for their online banking.

In a report issued this week, auditors from the office of state Comptroller Thomas DiNapoli said they surveyed district financial records from July 2008 and last April and suggested the district build in more layers of computer security defenses for their daily banking practices and establish a written policy for users.

The district does online banking with four different banks and auditors selected for review 30 electronic transfers totalling nearly $7 million.

They noted that the district should follow federal and state recommendations and set up a dedicated computer just for online banking.

"A dedicated computer that is restricted from e-mail applications and any Internet activity other than online banking is less likely to encounter a banking 'Trojan horse' or other malicious software (malware) that could lead to a compromise of data confidentiality," the report noted.

Other recommendations included establishing procedures with the online banking computer that prohibit putting banking connections into quick links like stored user names, online favorites, or website links.

The audit also said the district should completely close out the online banking connection after each use and erase it from the web browser cache, temporary Internet files, form data, cookies and Internet history.

They also said the computer should then be completely shut down after use.

District officials in a response letter attached to the report said they plan to implement the recommendations.

To see more of the Times Union, or to subscribe to the newspaper, go to http://www.timesunion.com. Copyright (c) 2011, Times Union, Albany, N.Y.

Distributed by McClatchy-Tribune Information Services. For more information about the content services offered by McClatchy-Tribune Information Services (MCT), visit www.mctinfoservices.com. [ InfoTech Spotlight's Homepage ]

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