North America Bytes

Commerce Bank, St Louis, has successfully upgraded its online banking platform, which is powered by Corillian Corporation.

The enhanced service at www.commercebank.com makes Online Banking more flexible and easier to use. Corillian's Voyager platform enabled Commerce to successfully migrate all existing features and offer enhanced functionality and services to Commerce's growing number of online banking customers.

Added benefits now available to Commerce customers include improved navigation, additional transfer capabilities and E-Bill service, which can deliver electronic bills directly to a customer's Online Bill Pay account. This Online Bill Pay enhancement makes the payment process even easier. Commerce customers now can receive bills electronically from participating payees, review bills online (or print them), and then schedule payments at a future date--all in one online session.

Commerce customers will now have access to real-time balance information; transaction history; the ability to transfer money between deposit accounts; as well as seamless integration with financial management software.

"At Commerce, we are continually asking and listening to what our customers needs are and one of the recurring themes is convenience," said Cynthia Tetrault, assistant vice president, manager of Online Banking for Commerce. "Recognizing and trying to solve that need, Commerce Bank enhanced and expanded its Online Banking offering."

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BankAtlantic, a $6 billion asset financial institution headquartered in Florida, has converted to the fxeBanking product suite from FundsXpress Financial Network, an Austin, Texas-based provider of online financial services.

The fxeBanking product suite, hosted in the FundsXpress data center, will provide Internet banking, bill payment and bill presentment services to BankAtlantic. The fxeBanking platform will also offer a broad range of online services to BankAtlantic customers including real-time account balances, account transfers, history and bill payment.

"An easy to use online banking system complements our strategy as Florida's Most Convenient Bank," said Jarett Levan, senior vice president of Alternative Delivery at BankAtlantic. "FundsXpress' fxeBanking product offers all the features customers have come to expect from an online banking system, which we believe will ultimately increase end-user satisfaction and adoption rates."

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World Savings Bank, a $65 billion in assets California-based financial institution, has successfully beta tested and installed FraudLink ACHeCK, a product that protects banks and their customers from the growing threat of fraudulent electronic debits to checking accounts via the automated clearinghouse (ACH) network, developed by Carreker Corporation, a Dallas-based provider of technology and consulting solutions for the financial industry.

ACH e-checks can be initiated at the point-of-sale, over the telephone, over the Internet, and through the mail. Before these debits can be applied against customers' checking accounts, Carreker's ACHeCK flags suspect items by comparing transactions with customers' historical payment patterns and with known fraud patterns.

Electronic debits, also called e-checks, are one of the fastest growing sources of payments, said World Savings senior vice president James Gergen, referring to recent reports from the National Automated Clearinghouse Association (NACHA). "These new entries present new risks, and protecting our customers from these risks is a priority for us. We chose ACHeCK as part of our bank's overall fraud mitigation framework because of Carreker's expertise and solid track record in fraud mitigation. The ACHeCK solution was easily implemented into our existing infrastructure and improves customer satisfaction by providing electronic fraud protection."

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The Bankers Bank, Atlanta, has entered into a marketing agreement with Guarded Networks, a Ft. Lauderdale, Fla.-based provider of information security consulting and managed security services, to deliver the BorderShield information security and Gramm-Leach-Bliley compliance services to financial institution customers.

The Bankers Bank (TBB) committed to supporting the correspondent needs of over 1,500 community financial institutions in the Southeast, announced the launch of BorderShield, a network security service that will provide 24/7 information systems security monitoring and protection against network breaches. Under this long-term marketing agreement, TBB will exclusively market the BorderShield service to their community financial institution customers and assist Guarded Networks with customer support.

BorderShield is a suite of cost-effective information technology security services and management reporting tools that enable banking, credit union, insurance and other financial institutions to proactively manage their information security needs and regulatory compliance initiatives as required by the Gramm-Leach-Bliley Act, that became effective on July 1, 2001.

"Financial institutions are increasingly utilizing connectivity and system communications with worldwide networks including core processors, business partners, customers and the Internet. Along with this comes significant security risks," stated Bruce P. Leonard, chairman, president and CEO of TBB. "Our program will enable your institution to substantially mitigate the risks inherent with the increased use of technology and interconnectivity throughout the financial institution sector. This program provides the proper balance of cost versus benefit as it relates to complying with regulatory requirements such as those mandated by the Gramm-Leach-Bliley Act. We utilize BorderShield and have been extremely pleased with the service and results."