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Will Banks Go Private IP Network?

Sprint is counting on financial institutions, as well as other business industries concerned with Internet security, to follow federal and state government agencies' lead by choosing to bypass the public network in favor of a private peerless IP network.

The company began offering the network to government agencies in April of 2003 and announced earlier this year, that it was available to commercial establishments. The company said it has already signed 25 commercial customers, including several banks.

The private system relies on a nationwide, all-digital fiber-optic network Sprint operates, bypassing the public Internet. The FBI, the National Guard and other key government agencies are already relying on the network for Intranet communications and sensitive transactions.

Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 07, 10/04

First published on 10/01/2004

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