I have a question regarding how far does a customer's authorization go? Our bank is experiencing several charges, identified as POS, from an Internet service provider for customer accounts, which at the time of the charges, were closed with zero balances. The bank sends the network a balance file every night to The Midwest Money Access Services (MAC). When customer account balances are zero or the account is closed, how could the charges continue to be charged to the bank? When we talk with MAC representatives, they say that the service provider has the authority toinitiate the charge based on the prior customer authorization. They say this situation is like a recurring loan payment.
What insurance issues should we consider relative to e-banking?
What are the information security needs of a bank?Which laws/guidelines deal with information security needs of the bank?What are the steps involved in designing a security policy for a bank?
DirectPointe provides managed computing services that include remote PC and Network Management services. We are working with a community bank in Utah that is interested in our services, but is concerned with any regulatory issues that may not allow us to have remote access to their network and PCs (since their network is connected to a service bureau, which has confidential information). Can you provide any information/insight into this issue? Can we provide remote services and if so, does our company need to meet certain requirements? Please let me know if you have recommendations.
Can you recommend a good source or template for creation of an e-commerce enabled web hosting contract thatprotects a bank against liability with regards to its customers?
Assuming that Electronic Bill Presentment and Payment (EBPP) does become the consumer's preferred method of receiving and paying bills, as the industry predicts, what can a bank do today to position itself for, and help compel the market toward, that future?
How do banks intend to monitor their service providers to confirm that they are maintaining appropriate securitymeasures to safeguard the bank's customer information? We are looking for a practical, reasonable way to do this.
I would appreciate any advice on where to start when developing our information security program.
The Changing Face of Banking
By Michael E. Henry, Michael R. Wallace, Tony L. Wormington, Steve Tomson, Ed Rhea, Doug Childress, and Jack Prim
Jack Henry & Associates
Our Internet Service Provider just went broke, leaving us high and dry. We're gun-shy about choosing a new one because we thought we knew what we were doing the first time. It isn't like this is the kind of service where the vendors have been in business for 20 years, and it's not like we have a whole lot of choices. It's been a bad experience. Any advice?