Five years ago, Microsoft released its latest and greatest generation of operating system, Windows XP, it was the first major operating system it had offered since Windows 98 and included a variety of pieces of software so that consumers would have more functionality in their computer out of the box. Microsoft will be doing the same thing with Windows Vista and bundling a number of free pieces of software designed to develop you more productive. Read on to know what software will already be on your computer when you install Windows Vista.
Microsoft will be retiring Outlook Express in Windows Vista and instead you will have a program called “Windows Mail.” The new software will feature a Bayesian SPAM filter, which is very effective at stopping spam over time. The mail client will come with a great new interface as well as a phishing filter which will help spot scam emails which are trying to steal your personal information for purposes of identity theft.
Entirely new to the operating system will be Microsoft Windows Calendar. The software will be able to read from and publish to web-based calendars so you can view your schedule from anywhere. The calendar software also features wait on for the “iCalendar” format.
Built into Windows Explorer will be a program called “Windows Photo Gallery,” which will do a lot of things that programs such as Google Picasa do. It is essentially a photo-album for your computer, and users will be able to sort, categorize, title and rate images.
Microsoft Windows Movie Maker will receive a welcome upgrade and will be able to burn DVDs of the movies you make with it through a program called Windows DVD Maker. The new version of the Movie Maker will feature a number of interface enhancements and additional effects.
Windows Media Center will come standard as part of Windows Vista. Previously it was only available through Windows XP Media Center Edition. The software helps you categorize and sort your music and movies, as well as allows you to watch and portray live TV with a video capture card. It acts as a “home entertainment hub” and works well on televisions.
And last but not least, we are getting new games! Microsoft decided that its fifteen year mature version of solitaire needed a revision, so it decided to re-do all of its included games with its advanced new graphics. New games added include Chess, Mahjong, and a title called “Purble Station,” which is a children’s game.
Related Posts
Filed under Live Support Software by on Nov 30th, 2011. Comment. 
Recently I came across a guest blogger series on the legal blog Volokh Conspiracy about Wikipedia. The posts that drew my attention were by Ira Matesky, a late 40-something writer with a legal background who also edits under the psuedonym “Newyorkbrad” on Wikipedia. Newyorkbrad is not “just another” editor of the free encyclopedia that “anyone can edit”, according to its tagline; first, he is an administrator, one of only around 1,700 on the english language project; secondly, he is an arbitrator, one of only a dozen or so elected members of the Arbitration Committee, where Wikipedia’s most troublesome users and protracted disputes go to a sort of wiki-trial. Newyorkbrad’s posts (the first can be found here) are, not surprisingly for the intended audience, based in legal matters, particularly the balance of coverage and privacy in regards to Wikipedia biographies of living persons (or BLPs in shorthand). And BLPs are a major source of controversy and coverage on Wikipedia, but I feel Newyorkbrad’s legalistic come ignores much about the rest of the encyclopedia’s content–an area he admits he has little interaction with, now that remarkable of his time is spent dealing with ArbCom matters.
In my posts to this site I have made Wikipedia a focus, including articles introducing lesser-known facts about the site (link), its treatment and coverage of fictional elements (link), and how the media views the wiki (linky here). I include these articles because they are based in part in personal interactions, but are mighty more clinical views. This entry is an attempt to address what is more likely to be layperson’s concerns and issues with the site, from the viewpoint of how I came to be one of the “elite”, an administrator on the largest encyclopedia ever assembled.
Like many who have ever edited Wikipedia’s articles in some respect, I first was introduced to the site through a Google search. My Advanced Placement European History class had to research the Congress of Vienna, and I soon found that my classmates had vandalized the page thoroughly, adding choice tidbits to the article like “Russia had all their land taken away and given to Poland. Laura Shinners led to this downfall because she be trippin like some shiznit” (a great comparison can be seen here). I was surprised not only that this mutilation could take state, but that within minutes all the offending garbage had been scrubbed away.
By late 2005 me and my friend Ray started editing articles, creating a page for our high school, adding images, even providing some citations. My edits were somewhat random, editing Pugachev’s Rebellion and then starting an article for Deborah Read, then adding some rambling discussions to Education in Japan that my present self would have reverted on sight.
By early 2006, I was editing sporadically, but I had grown enthusiastic in video game articles, specifically those dealing with the world of the bestselling console game Halo. But I didn’t really understand Wikipedia policies, like most original users; I didn’t understand new material had to be reliably sourced, or that some minutiae did not belong at all. Unlike many users who behold their additions promptly reverted, often with no explanation, I didn’t give up and leave, though. Rather, I kept at it, learning the rules as I went, mostly editing video games, and eventually delving into the world of audited bellow work–Good Articles or Featured Articles, which are reviewed by other members of the community according to sets of standards for prose, comprehensiveness and image copyright compliance.
To this day I don’t really know why I got so interested in Wikipedia. I have always enjoyed writing, and I enjoy learning new things, so I suppose Wikipedia sated those two interests. Unlike some, I’ve never been a flag-waving apologist for free software let alone free knowledge, and I don’t really feel I’ve contributed to a colossal world-changing project (or don’t conception it with much chest-thumping bravado.) In part, I believe that most people my age derive some sort of community online that they mesh with and waste time away on (Facebook, Myspace, et al), and Wikipedia happened to be it. When my parents got a brand-new Apple G5 computer in late 2004, I started logging on to Spymac.com, a mac community site. It was really my first taste of forums and galleries and user comments, and I was hooked. But over time, the community broke up as the management decided to make Spymac into a less specialized and more mainstream business. Site updates broke feeble features, and the Spymac you now see is a garish Youtube wannabe, with only the Spyman logo a vestigial reminder of what came before. As Spymac went south, I turned to Wikipedia with more gusto, and as my writing, ideas, and education improved my scope broadened. Not only did I write about video games, but I turned to dinosaurs, meteor impacts, historical events and fiction novels, climbing up the list of editors by their successful Featured Article nominations.
There are many duties on Wikipedia–handling user requests and staffing the virtual relieve desk; fighting vandals and warning them to stop, or else reporting them to administrators; deleting pages or putting them up for inspection–but article-writing and audited content work grabbed me. I content because the core reason people like me stay with the project is because it’s fun. It’s fun amassing knowledge and sharing it with others; it’s fun to gain the recognition of your wikipeers and help them with their projects; it’s fun to collaborate and build up pitiful articles into the best free reference on the web, anywhere. The fun factor, whatever it may be, is what keeps people contributing. The only real reason they might stop is if something changes–better activities or time constraints in the “dependable world”–or if it stops being fun; either they are tired of editing, or there are squabbles that distract them, or they are harassed. It’s often common; I know of a couple of high-profile editors who did magnificent work only to suddenly leave. Many a user page has bold lettering announcing the user is “RETIRED”, often with a final parthian shot or rationale. Some just had too considerable to do; others found that the project they started editing has changed; users they knew have left and the community just isn’t the same. Others narrate that they were hounded in real life by some users, and have decided that it’s not worth the threatening calls to their family. Each template has a tale to tell behind the stark lettering; I might one day join their ranks.
Another thing that can be said of my editing habits (and of many users, I expect), is that their interests change over time. I outmoded to be what would be called an “inclusionist”, thinking that if it’s true, it should be on Wikipedia; now I am a very strong proponent of the notability guidelines that keep someone’s pet dog off the wiki. I passe to spend hours vandal-fighting and reviewing other editor’s conduct and offering pointers, something I never do except on pages that I “watch” or edit.
Of course, I am also an administrator, a rank that allows me to delete pages, block users from editing, and glance the ghostly traces of old articles that were long ago deleted and no normal user knows exist. I became an admin in May 2007, after being nominated by an anonymous user I had some interactions with (and to my knowledge, haven’t for years.) I garnered a 100% approval from 65 participating editors. Now, I’m not so sure I would have passed, let alone without a announce of dissent. The wiki has changed, and perhaps fragmented; some would have opposed me believing there are too many admins, others that adminship is “evil”. Everyone has their own criteria, and as Wikipedia grows, those viewpoints only increasingly diversify.
Overall, I would injurious my contributions to Wikipedia as an overwhelming positive, and the community’s impact on me as a rewarding experience as well. And I encourage anyone who is interested in editing to not be discouraged and jump in. The bylaws and guidelines of Wikipedia can be frustrating and baroque, and despite attempts to the contrary many users will “bite” newbies who get mistakes. But for those who persevere they may find a welcoming community and a chance to make a difference in their internet hours.
Related Posts
Filed under Free Customer Support Software by on Oct 17th, 2011. Comment.
Sandy didn’t know what to do. Her long awaited biology final was coming up in only two days and she didn’t get around to studying even one quarter of her study guide. She had two choices: one was to fail her exam and not be able to major in Biology any more, or she could pass and go to the next level of Biology class. She wondered how she could possibly pass the final without radiant very much about the topic. A light bulb turned on in her head. She would cheat off of her best friend Kathy. Her friend, in fact, “owed” Sandy. Sandy let her swindle numerous times from her history homework, so she conception it would only be fair if Kathy, who had been studying for the Biology final for weeks, let her cheat off her test. Both Kathy and Sandy averaged a “B” on the final. Was this the best route for Sandy to take? Was Kathy good in letting Sandy copy off of her test? Why do so many college students cheat so often nowadays? The shifting definition of cheating in colleges is a growing issue in our society that needs to be resolved. Through selections from the text, “Next Text” by Anne Kress and Suellyn Winkle we will gaze why there is a shift in the definition of cheating and what types of technology can be ragged to diminish cheating in colleges all together.
Cheating is taking and using anything that you did not create yourself to gain ahead. The shifting definition of cheating may have begun in the early 1980’s when President Ronald Regan was sworn into office, even though cheating has always existed. With a new President, the United States also had a shift in how it was run and the values it held. Nowadays, success is measured by your income and work not by your own standards of excellence. “In today’s competitive economy, where success and job security can’t be taken for granted, its increasingly tempting to leave your ethics at home every morning. Students are cheating more now that getting a good education is a matter of economic life or death” (Callahan, 21). Students feel that they need to cheat in order to do well in something that is mandatory to their success in the future. People are now cheating on runt things, like pop quizzes and other assessments that are not counted towards nor have no impact on the grade. The norms have changed in a way that people need to be unethical in order to succeed in our modern day world.
Cheating in schools is becoming an epidemic. Students, more then ever, are using “academic dishonesty” as another tool. Cheating has become like a dictionary or calculator which makes finding something a lot easier.
Texting is probably the most effective way of cheating for college students. It is easier to hide a cellular phone underneath a desk or behind a book than it is to cheat in other ways like leaning over your desk to look at someone else’s paper. Teachers, fortunately, are catching onto this trend. “‘We started looking for students with one arm on the desk and one under it [using their cell phones],’ reports Justin, Texas, high school principal Jim Chadwell – banning technology in the classroom can create its own problems. Post 9/11, many parents insist their children carry cell phones so they can be easily reached” (Heyman, 37). Even though teachers may want cell phones to be banned from schools it would be hard to conclude because of the unknown dangers in our world. Perhaps, cheating is just another way for students to deal with their fear of real life.
Exact life is coming straight toward college students and high school students. With approximately four to eight years left until they have to find a job that can support them and their future families; they have a lot of pressure on their shoulders. For this reason, they feel a necessity to have to be successful in school in order to find this job that will give them the financial wait on that need in their future endeavors. Cheating is a way that helps relieve the fear of what tomorrow may bring. Some students do not even believe what they do should be categorized as cheating. Research assistant Jason Stephens describes cheating in high school and in college. “Research on cheating has shown over and over that most students do cheat…Research in high schools show that two thirds of students cheat on tests and 90 percent cheat on homework. The figures are almost as high among college students” (Stephens, 40). The purpose of cheating, however, can backlash at any given second. Even though cheating offers help to students, in an unethical way, professors and writers are now cracking down harder than ever on academic dishonesty with the use of technology.
From the iPOD Nano to sending pictures via Internet, technology is getting more and more sophisticated. Cheating will soon start diminishing because of technological advances like the new text-comparison software. In an excerpt from, “Rise of the Plagiosphere: How New Tools to Detect Plagiarism Could Induce Mass Writer’s Block,” Ed Tenner,
“A small handful of entrepreneurs have developed programs that search the open Web and proprietary databases, as well as e-books, for suspicious matches…Teachers can submit student papers electronically for comparison with these databases, including the retained texts of previously submitted papers. Those passages that have resemblance to each other are distinguished with color highlighting in a double-pane view” (Heyman, 52).
With the help of these types of technology, schools can become an environment that is more unbiased.
The changing definition of cheating and the types of technology that can be used to diminish cheating in college all together have been shown through selections from the textbook, “Next Text” by Anne Kress and Suellyn Winkle. Hopefully, this wave of cheating as a means to accumulate by will fade. Even though it may be impossible to end academic dishonesty completely, at least everyone will know that there is technology that can stop it. When you are caught, you will be punished.
Works Cited
Callahan, Edward. “Everyone Does it.” Next Text: Making Connections Across and
Beyond the Disciplines. By Anne Kress and Suellyn Winkle. Boston: Bedford/
St. Martin’s, 2008.
Heyman, J.D., et al. “Psssst… What’s the answer? “ Next Text: Making Connections
Across and Beyond the Disciplines. By Anne Kress and Suellyn Winkle. Boston:
Bedford/St. Martin’s, 2008.
Stephens, Jason. “Justice or Just Us? What to Do about Cheating.” Next Text: Making
Connections Across and Beyond the Disciplines. By Anne Kress and Suellyn
Winkle. Boston/St. Martin’s, 2008.
Tenner, Ed. “Rise of the Plagiosphere: How modern tools to detect plagiarism could induce
Mass writer’s block.” Next Text: Making Connections Across and Beyond the
Disciplines. By Anne Kress and Suellyn Winkle. Boston: Bedford/St. Martin’s,
2008.
Related Posts
Filed under Free Customer Support Software by on Oct 9th, 2011. Comment.
If you wish to download Xbox 360 games for free, raise your hand. I know your hand was up. Every gamer is becoming tired of overpaying for Xbox games. For the fifty or so dollars that it costs to bewitch one Xbox 360 game at retail, a smart gamer can procure unlimited downloads for any of the Xbox games. It’s OK to put your hand down now, and learn how to reap the benefits of downloading Xbox games.
Websites where you can download Xbox games are of two basic types: those that charge you a fee for each download, and those that have a one-time fee for unlimited downloads. You’ll regain good game copies from either type, but the intellectual money would go with the unlimited download sites. Downloading games from most of these Internet sources has the additional benefit of offering music and videos as well as games.
Internet sites that allow you to download Xbox 360 games want to keep you as a customer, and offer excellent customer wait on to ensure that you stay with them. New members especially benefit from the simple step-by-step instructions that they provide to walk you through your first downloads. Downloadable Xbox games from these sites are guaranteed to be legal copies, and free from any viruses or malware. It is in best interests of these websites to protect their customers by ensuring that all games are operable and safe to use.
One downloading website that has found particular favor with gamers is everything4360.com. This site specializes in serving the needs of Xbox 360 gamers by providing downloadable Xbox games. Offering downloads of the paunchy range of Xbox 360 games, firmware, and utilities.
As a member you will be eligible for access to every Xbox game ever released from the earliest ones to the most current. Imagine; unlimited downloads of games like Halo 3, COD4, Call of Duty 2, Perfect Dark Zero, Gears of War, Need for Speed, and Dane and Lynch, to name a few. This site will allow you unlimited downloads of Xbox 360 games for a one-time fee of around $40.00. That’s not a bad deal when you remember that one new Xbox game can cost nearly twice that amount.
One cautionary notice is in order; make sure that your Xbox firmware version is compatible with the software that you are downloading. If not, get an upgrade, otherwise you new Xbox games that you download will not work. You’ll also need to understand how to flash the firmware for your Xbox. The download site can back you with that. They offer the updated firmware, as well as expedient tutorials of how to flash your Xbox 360 firmware.
This website offers a big selection of tutorials that you can watch to teach you to how to download Xbox 360 games fast. They even have one on how to fix the infamous Xbox 360 “red light” jam. Using this tutorial to fix the problem sure beats sending your Xbox 360 away for repairs. There are also tutorials explaining how to backup Xbox 360 games, and access to Xbox 360 cheat codes.
If you’ve had your Xbox machine for a while, you already understand that it does much more than play Xbox 360 games. You can use it as a home entertainment center. The Everything4360 website has a tutorial explaining how to stream DIVX and XVID videos from your Xbox 360 to your television status without the need for a media center PC. Talk about cost savings!
Hopefully, after reading this article, you’re now convinced as to how easy it is to download Xbox 360 games. If you have a computer with enough hard drive storage state, you can be downloading games before the day is out, fabricate up an impressive library of Xbox 360 games, and become the envy of all your gamer friends.
What is the best website to download xbox 360 games? Our favorite site is Everything 4 360. Click the Everything 4 360 Review for more…
Related Posts
Filed under Customer Support Software Freeware by on Sep 27th, 2011. Comment.
Introduction
The technological landscape of the banking industry has been ever changing over the past two and a half decades. Banks have transformed from institutions that old-fashioned computers for mere efficiency and convenience into corporate conglomerates that are totally dependant upon computers and banking software. Banks around the world are dependent upon banking software at all levels of business; from the highest level of management apt down to meeting consumer needs.
There is no question that information technology and the consistent creation of better, more efficient software has played a key role in the explosive growth of the banking industry worldwide. Electronic banking allows member to do their banking transactions without visiting a branch. Banks, credit unions, and investment centers have all introduced their own e-banking system in order to stay competitive. The convenience that electronic banking presents is appealing to customers and strengthens the relationships to the company providing the service.
E-Banking can provide many risks as well as benefits to the banker. The risks associated with e-banking can end the reputation of a bank, thus leading to the loss of business. Do these risks outweigh the benefits? Or is the opposite true? E-banking can save an enormous amount of money and relieve a customer to “stick” with the bank. A bank must weigh these options before deciding what is right for the institution. Banking Information Technology poses both benefits and risks for consumers. Customers have the option to pick, choose and refuse the many financial institutions that are out here today. Customers hold privacy with great value and convenience with high standards.
Banking Software IT
Banking software and information technology are some of the core components of the modern day banking industry. The use of online banking has transformed the landscape of the banking industry so much that there are basically three types of banking institutions recognized in the industry today, and each bank will generally fall into one of these categories.
The first type of bank that a customer can go to is a traditional “brick and mortar” institution has a building and personal service representatives, but doesn’t offer Internet banking services. These are usually smaller, community institutions; located in rural areas, which have a loyal, community customer improper that does not depend upon online banking to fulfill their banking needs.
The second type of banking institute available is a “brick and click” financial institution that has a physical structure, and also offers Internet banking services, which is the most favorite type of bank found today. Finally, the consumer may choose a “virtual” bank or financial institution that has no public building and is only accessible online (Federal Reserve Bank, 2006).
There are many things that banks must consider when choosing the software that will ultimately become the institution’s core infrastructure. The bank not only has to consider customer needs and desires, but it must also assess its own IT needs, and employee needs, as well as security and privacy issues. As many options as there are available in banking software today, banks can customize their banking software to fit their IT needs regardless of how great or small.
According to Grant Bowman, Branch Manager and Assistant-Vice President of Retail Banking for Waddle Bank, one of the top three banks in the nation, everything that the bank does short of direct customer contact is dependant upon its banking software (Bowman, 2006). The banking software that Chase Bank uses for its IT infrastructure has many capabilities. The software offers bank management on-hand human resource databases, time management capabilities, and network email/inner office communications that are necessary for interaction with other branches, and upper management. The software offers personal bankers sales opportunities through customer databases and cross-referenced anecdote and product information that allow the personal bankers to quickly gauge a customers lending, investment, or account needs. This software also provides management and personal bankers with external links to outside financial institutions that allow them to assess CD, bond, and interest rates for competitive pricing.
Finally, the banking software dilapidated by Toddle Bank allows its tellers to work quickly and efficiently to succor customers in a timely manner. Customer accounts are expeditiously accessible with minimal customer information input, and the use of scanners for all checks and deposits offer quick problem resolution for the tellers and customers (Bowman, 2006).
The turnaround time for information availability, combined with the banking options that an institution’s banking software will allow its customers, can either help or encumber the bank’s service relationship with its customers. With the unusual “real-time” mindset of American consumers, there are certain options that most customers are seeking from their banking institution’s banking software, as well as their online software. Mr. Bowman stated that most of the customers in his market are looking for Amble Banks software to provide them with access to instant “real-time” account transactions either through tellers or online; 24-hour instant access to their money through ATMs; and capabilities to transfer funds from account to account, or from their account to a vendor through Online Billpay at anytime.
Customer’s also want to know that personal bankers are aware of their financial needs in order to assess whether or not they are currently in the account, loan, or investment that is going to be the most beneficial for them. Finally, and probably most importantly, customers want to know that their financial information, whether in-house or online, is private and glean at all times (Bowman, 2006).
When taking the privacy and security issues of banking software into consideration, one does not have to look far to find evidence that this is a major concern to banking customers, managers, and even federal banking regulators. In 2004, research found that nearly two million Americans had their checking accounts raided by criminals in a 12 month period. Consumers reported an average loss per incident of $1,200, pushing total losses higher than $2 billion for the year (Sullivan, 2004). The vulnerable combination of internet banking, networks used by banks to communicate within their organization, and the lure of untold millions available for pilfering to extremely intelligent and persistent high-tech thieves has left banks worldwide with a feeling of being under constant siege. Although banks are very tight-lipped regarding their security issues, reports show that even the largest banks are constant targets.
In May of 2004, Citibank reportedly overtook eBay as the most celebrated target for phishing attacks. Phishing is an e-mail, which attempts to steal consumers’ user names and passwords by imitating e-mails from legitimate financial institutions. Citibank faced an average of 16 attacks per day, and 475 separate phishing attacks during April, an increase of nearly 400 percent from March (Sullivan, 2004). Citibank has even gone so far as to post the following ten “Phishing Protection Tips” in order to educate their customers (Phishing Fraud Alert, 2004):
• Never click on Hyperlinks within emails, instead, copy and paste them into your browser
• Consume SPAM Filter Software
• Use Anti-Virus Software
• Use a Personal Firewall
• Keep Software Updated (operating systems and web browsers)
• Always look for “https://” and padlock on web sites that require personal information
• Keep your computer shipshape from Spyware
• Educate Yourself of fraudulent activity on the Internet
• Check & monitor your credit report
• Contemplate Advice – if you are unsure, ask: scams@fraudwatchinternational.com
According to the Federal Deposit Insurance Corporation, financial modernization and the growth of electronic commerce continues to heighten public interest in maintaining the privacy of consumer personal information in both the physical and virtual environments. Because the business of banking relies upon customers’ willingness to disclose confidential personal information, the FDIC encourages every financial institution to establish and follow a privacy policy that addresses what are generally referred to as fair information practice principles, which have been articulated by a variety of governmental and intergovernmental entities (FDIC, 1999).
Five core principles advocated by the Federal Trade Commission (FTC) are: notice to consumers about information practices; choice for consumers about how personal information may be used; access for consumers to personal information and the ability to correct errors; security and integrity of consumer data; and enforcement and consumer redress (FDIC, 1999). The endless information that is available on this topic is a sure indicator of the impact that IT and banking software capabilities have on individual and commercial consumers alike. As technology continues to advance, it is imperative that the banking institutions that will handle money and financial data for today’s consumers have the most advanced, innovative software that will not only provide customer convenience and market competitiveness, but will also provide cutting-edge security for those that it serves.
E-banking
“Electronic banking, also known as e-banking, is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution.”(Insley, 2003). Electronic banking is often called e-banking, and is used interchangeably with PC banking, internet banking, and home banking. Companies will often utilize their own term for the same concept. For instance, Chartway Federal Credit Union utilizes the term “ebranch” to describe their electronic banking tool. Electronic services are becoming an essential tool for financial institutions from banks, to investment centers.
E-banking allows customers to beget many different transactions without entering a branch. According to Chartway’s home page, customers are able to view fresh and available chronicle balances, and story transactions. Customers may also transfer between accounts, set up recurring and future dated transfers. Recently Chartway added the ability to view Chartway credit card transactions, and customers may transfer funds to pay their credit card. Customers may also expect new sub accounts or open up whole new accounts. Chartway has also introduced a new feature which allows customers to apply for loans online, which will be reviewed by loan processors and credit officers. Often, loan decision may be given to the customer on the same day. This is very convenient for those customers who are just unable to bank during banking hours. Statements may be viewed online and customers have the option to only receive their statements electronically. Chartway calls this feature “e-statements.”
Accessing Chartway’s e-banking tool is free to all of its customers. The company’s major electronic banking feature is their Bill Payer program, which allows customers to set up electronic payments to different companies. Bill Payer is free to customers if they pay three bills or more a month, and enroll into their estatement program. If they do not meet those two features, there is a $4.95 a month service charge. Bank of America has the same online bill paying services, and does not charge a fee, but other fees for services may apply. As many banking customers discover all of the features that online banking offers, Chartway may have to consider making this feature free in order to quit competitive.
“The bank branch remains the most important channel in terms of revenue generation” (US Banking, 2005). Many customers prefer making major financial decisions with bank associates. Call centers, and automated teller machines are also being utilized for banking transactions. However, electronic banking is viewed as a sophisticated tool for customers, and a must have commodity for banks. As dotcom hustle dissipates, the Internet is re-emerging as the priority channel for technology investments and banks are entering an e-banking technology renewal cycle, which includes functionality and usability of websites and enhancing integration with other channels (Spotlight Returns, 2005).
E-banking may present banks with the opportunity to strengthen their relationships with customers. As more and more customers enroll in online banking services, banks are presented with the opportunity to cross-sell and up-sell to further increase fee revenue (Danglemaieur, 2005). Electronic banking may improve new account growth, revenue growth and customer retention. E-banking is considered to be the technology solution for some of the top business challenges including those previously discussed, and expanding up/down the market, and cost reduction (Danglemaieur, 2005).
Many customers enjoy online banking for its convenience. Customers can enjoy the convenience of e-banking anytime and anywhere. With direct deposit and bank-to-bank electronic funds transfers, e-banking may be the only tool that customers need to do their transactions. As technological advances increase, the banking industries and other financial industries may continue to make strides to improve the services that are provided to customers.
Bank’s Benefits and Risks
As online banking can be risky for the customer to use, is it just as risky for the banker. As mentioned earlier in the paper, phishing is one of the newest forms of Internet fraud and has become very sophisticated in the past few years. Many of these phishing scams involve emails being sent to victims containing link to their bank’s “website”. The website is usually very well designed and is easily mistaken for the real thing. Unfortunately, even if the victim does not give out the personal information being requested, these websites often contain a type of virus known as a Trojan horse virus.
The Trojan horse virus collects your personal information while you access other websites requesting passwords and then records those pins and passwords. Joe Lopez, a Miami business man, is actually suing Bank of America because this type of virus allowed a criminal to wire over $90,000 from his account to a bank in Riga, Latvia. The bank contends that it was his personal computer that became infected with a Trojan virus but Lopez states that he should have been notified that such a large transaction was being made, especially since that is a country that has a high rate of cyber crime (Accountingweb.com, 2005).
It is important to discuss these types of activities because they can be detrimental to the reputation of a bank. Some of the ways in which e-banking can influence an institution’s reputation include:
• Loss of trust due to unauthorized activity on customer accounts,
• Disclosure or theft of confidential customer information to unauthorized parties (e.g., hackers),
• Failure to stutter on marketing claims,
• Failure to provide top-notch service due to the frequency or duration of service disruptions,
• Customer complaints about the difficulty in using e-banking services and the inability of the institution’s succor desk to resolve problems,
• Confusion between services provided by the financial institution and services provided by other businesses linked from the website (FFIEC, 2003).
Online banking saves the institution a significant amount of money “studies have shown that online banking customers are more profitable than offline customers—they make fewer customer service calls and are less likely to switch banks” (Winstead, 2005). Winstead (2005) also tells us that “if you’re a bank, you don’t make money on customers who just check their account balance online; the big bucks come from other services.” It is also important to trace that “as Internet users gain more experience online, they are more likely to perform activities that involve money, such as paying bills, making online purchases and travel reservations, and participating in online auctions (Winstead, 2005). Most of these services contain fees that the bank would not normally glance from a customer who does all of their banking in person.
With emerging scams, the scare of security risks grows. Although online banking could be coined as the fasting growing type of online activity, there is still room for growth, which, as described above, is a revenue generator.
There is a clear distinction between the age groups of those doing their banking online. A study done by Yahoo found a “substantial difference in Internet usage patterns between users under 40 years old and those over 40. 72 percent of the younger group checked their balances online versus only 37 percent of the older consumers” (Kelley, 2005). The older generation seems to be more leery of doing transactions online for fear of security risks.
There are some other risks that the bank may incur as well. The Federal Financial Institutions Examination Council (2003) gives some examples:
Transaction/Operations risk – Wireless services create a heightened level of potential operations risk due to limitations in wireless technology. Security solutions that work in wired networks must be modified for application in a wireless environment. The transfer of information from a wired to a wireless environment can create additional risks to the integrity and confidentiality of the information exchanged.
Strategic risk – Financial institutions considering wireless services should carefully evaluate the vital strategic risks posed by this service delivery channel. Standards for wireless communication are still evolving, creating considerable uncertainty regarding the scalability of existing wireless products. Financial institutions should expend extra diligence in preparing and evaluating the cost-effectiveness of investments in wireless technology or in decisions committing the institution to a particular wireless solution, vendor or third-party service provider (FFIEC, 2003).
For the time being, banks are not responsible for the loss incurred because of a customer’s PC. This is probably one of the reasons customers are reluctant to use online banking services. Avivah Litan, a member of the Gartner research team does provide some recommendations for those interested in online banking:
• Banks: Strengthen access controls (beyond just using passwords) and distribute third party “anti-malware” protection for user desktops to help keep online-banking sessions as safe as possible. Clearly warn customers that, in some cases, they are liable for online-banking losses resulting from the theft of passwords or other credentials.
• Regulators: Develop new laws to better protect small-business and other banking customers against theft resulting from criminals hijacking credentials from PCs or online communications (Litan, 2005).
Consumer’s Benefits & Risks
According to the Organization for Consumer Privacy (2001) “The Graham-Leach-Bliley Act regulates the sharing of personal information about individuals who obtain financial products or services from financial institutions. It attempts to inform individuals about the privacy policies and practices of financial institutions, so that consumers can use that information to create choices about financial institutions with whom they wish to do business. The law gives consumers limited control – via opt-out – over how financial institutions use and share the consumers personal information” (Consumer Privacy Guide, 1). Under this act, consumers’ information is federal regulated to preserve financial institutions from marketing and selling sensitive information to third parties. This is important because it ensures that privacy provisions won’t be violated from the consumer’s point of view. Anacomp, a multi-vendor who specializes in services and support, gives a few examples of how they protect their consumers from leaking out sensitive information. Anacomp (2006) states the following examples by “using a companies’ existing level of automation together with Internet or intranet retrieval:
• E-mails are captured and stored in an unalterable version to meet compliance regulations.
• Access to sensitive corporate e-mail is restricted to itsy-bitsy sets of highly secure users.
Leveraging the header information, a relational index capability is created, allowing research folders to be formed.
• Anacomp uses industry-standard Internet protocols, allowing e-mail attachments to be displayed in critical applications (such as Microsoft Word or Excel).
• E-mail documents are saved in a collect environment with redundant backup and disaster recovery options.
• E-mail archive will be available to authorized users via standard Web browsers” (Anacomp, 2006).
When it comes to online banking, having financial information readily available at a consumer’s fingertips, 24 hours a day, 7 days a week, is very convenient. According to Kim Komando with Microsoft Small Business Center, “online banking has been one of the brightest online inventions. With a few clicks, people can pay their bills, check their balances and see what has cleared” (Komando, 1). Larry Freed (2006) agrees with Komando and states that “customers are increasingly elated with online banking, which is good news for banks seeking increased loyalty and portion of wallet. Findings of the second Forbes.com/ ForeSee Results online banking study include:
Satisfaction with online banking is 5.5% higher than it was last year, surpassing satisfaction with the overall banking experience, as recently reported by the American Customer Satisfaction Index
Online bankers who are highly satisfied are nearly 40% more likely to purchase additional products and services from their bank (Freed, pp. 2-4).
Converting online bankers to online bill payers is a spacious opportunity, as customers who pay bills online are 17% more likely to purchase products and services from their bank and 34% more likely to recommend their bank’s website
Credit unions outperform large banks and community banks when it comes to satisfying online bankers. (Freed, pp. 2-4)
The automated teller machine, or also known as the ATM, is “a machine at the bank branch or other location which enables a customer to acquire basic banking activities even when the bank is closed” (Investor Words, 1). According to Citibank, “It’s been 25 years since ATMs were introduced, and consumers have embraced the concept of ‘remote access’ to their accounts for deposits and cash withdrawals, and the convenience it affords. The electronic banking center represents the next technological wave in which far more products and services are available…” (Citibank, 1).
The advanced ATM’s will be incorporated with the web browsers that are known today as Microsoft Internet Explorer or Netscape Navigator. Michael North and Paul Kennedy of Banking Information Technology Secretariat states that “the advanced ATM will also be a multimedia ATM, using handsome, natural motion video and stereo sound in multiple languages, smooth dimensional animation. It will be capable of live video teleconferencing with a remote teller at a video call center, using eyes and ears in a video camera. It will be able to scan, compress and transmit signed documents, printing MICR-encoded checks, send and receive email, read barcodes and smartcards, capture biometrics such as fingerprints and iris images, and print exact, full-size copies of any document. All of these features are available now on commercially-available products” (North & Kennedy, 1).
The unique features of the advanced ATM will allow customers not only to perform monetary deposits into their accounts, but customers will also learn about different kinds of IRA’s, the best suitable savings plan and other e-commerce solutions that banks have to offer. People use ATM’s for economics, flexibility, convenience and acceptance. Wells Fargo explains that “this is a whole new approach to ATM software architecture…a greater ability to accommodate recent technologies. And because software applications are independent of the delivery channel, they can be leveraged across multiple channels, including information kiosks, telephone banking, personal computer banking and web sites” (Wells Fargo, 1).
Ethics in Banking IT
Information has no ethics and does not care how it is used (Haag, 2006, p. 236). This premise makes many banking customers cautious about e-banking, and as a result the banking industry has gone to great lengths developing ethical e-banking practices. “Electronic banking (e-banking) is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels. E-banking includes the systems that enable customers, individuals or businesses, to access accounts, transact business, or obtain information on products and services through a public or private network, including the Internet” (Bahamas, 2005). In this section we will explore the ethical responsibilities of financial institutions that provide e-banking services to customers.
Before thoroughly analyzing the ethical responsibilities of e-bankers it is important to identify the associated IT risks to the customer and the bank. Transaction, compliance, and information security risks are the three major risks of online banking. Transaction risks are those risks resulting from fraud, processing errors, negligence, or the inability to maintain expected level of service. These sorts of risks are higher for new online services or when new systems must become interoperable with legacy systems (Ramakrishnan, 2001).
Risks associated with banking policies and transactions that are not compliant with laws, regulations, and ethical standards are considered compliance risks. One of the most recent Acts requiring all financial institutions to be compliant is the earlier mentioned Gramm-Leach Bliley Act. This Act requires the safeguarding of customer information, and those institutions who fail to be in compliance after July 2001 face hefty fines (Secure Computing, n.d.). Other recent regulations include the Electronic Funds Transfer Act and the Truth-in-Lending Act.
Another risk important to customers and bankers are information risks. These risks result from inadequate security processes (Bahamas, 2005). Online banking services that are vulnerable to hackers, viruses, or data theft and they put customers and the financial institution at great risk. This risk can be the most damaging to customers and banks. Viruses may disable online services or internal electronic banking transactions affecting many simultaneously. Hackers and data theft normally seek customer’s personal information to commit fraud and potentially destroy the financial standing of many.
After identifying many of the risks associated with e-banking it is obvious that the financial institutions carry the ethical burden of ensuring that strategies are developed which outline the policies, practices, and procedures that address these risks. Most institutions publish ethical computer use standards and information privacy policies to educate employees and inform customers (Haag, 2006, p. 238). Due to the unique risks of online banking many banks require senior management input when developing ethical standards and practices for this get of banking (Ramakrishnan, 2001). This involvement more closely aligns strategic objectives, ethical standards, and IT operations. Bank websites have become an effective means of communicating the policies and procedures to customers.
The final piece to understanding ethics in e-banking is identifying what type of security measures can be implemented to actively mitigate the risks. In order to maintain the trust of customers most financial institutions mitigate transaction risk by preparing contingency arrangements and aggressive training programs to hold skilled staff. These practices ensure customers will continue to receive expected services in spite of system failures, processing mistakes, or isolated cases of fraud (Bahamas, 2005).
Periodic legal audits of published standards and practices reinforce valid activities and reduce compliance risk. Financial institutions publish disclosure statements and transaction practices for customers review and to demonstrate an pain to maintain compliance with required laws and regulations (Chicago, 2006). Banks commit a large amount of resources to reduce the risk of unauthorized access to information. Online banking requires customers to provide usernames and passwords before access is granted to services or account information. In fact, most require bank employees to also provide authentication before gaining access to the bank’s IT network. Authentication is a simple yet effective means of protecting sensitive bank and customer information. Data encryptions during electronic banking transactions also protect customers and banks from hackers and data theft. Separation of bank employee duties is another technique used to prevent fraud and protect information (Bahamas, 2005).
Banks and other financial institutions are built on trust and as a result customers have always expected the highest ethical standards from these organizations. With this trust comes much responsibility. Banks handle and accomplish sensitive customer information and activities everyday and must maintain high standards of conduct to remain successful. To maintain such standards banks and customers must realize the risks associated with online banking and methods to reduce such risk.
Managing Information Technology
Managing information technology in banking is a subdivision of management information systems and computer science. Many banks and financial institutions are incorporating information technology into routine bank transactions. Banking customers have been inundated with on-line banking, telephone banking, and Automated Teller Machines (ATMs). The importance of security with monetary information is a significant part of the managing of information technology in banking.
Direct deposit was the initial entrance of electronic banking into the banking community. In the past the main problem in banking was the amount of paper and cash which was clogging up the economy. This was caused by employees being paid in cash or by check. All this moving of money and checks was proving to be extremely expensive as well as a security risk. BACS (Bankers Automated Clearing System) has proved to be very successful in all business sectors. After implementation all wages could be paid directly into the workers bank accounts on time and be ready to withdraw as cash straight away. This reduced the amount of paper work and transfers needed (Information technology and banking, p. 10).
Customers can easily access their boom deposits. The US government has also used this electronic banking feature to eliminate a significant amount of paperwork with welfare and social security payments.
“A main benefit has been the increased accessibility to branches,” (Information technology and banking, p. 5). A convenience for the customer is the selling point of information technology for the banking community. E-Banking, bill paying, credit card payments, telegraphic transfers, and the easy access to check your sage balances or checks that have cleared are all important faucets of online banking. The twenty-four hour banking concept was introduced with the Automatic Teller Machine (ATM). Gone are days where you have to take time off of work to get your banking done efficiently.
“The challenge is managing the information we have and reducing the necessity of entering the same information numerous times and running the risk of making a mistake,” (Petty, 2001, p. 1). Accurate information at the fingertips of the bank’s employees can make a considerable change in routine transactions. Many banks and financial institutions have interactive Web sites with posted rates. “It’s absolutely necessary that the information available to our members (customers) is accurate and consistent,” (Petty, 2001, p. 1). Investments are the money making backbone of the banking system. It is indispensable that the information technology be both efficient and accurate.
“IT has increased the financial control and has made collation of information much easier,” (Information technology and banking, p. 3). Banks can now use programs specifically designed to meet their financial reporting needs. “Banks are linked via a wide area network (WAN) and the files are sent down the lines as text files,” (Information technology and banking, p. 3). Reports are required in all levels of banking information technology. Software adapted to meeting the needs of the intricate details required to meet each level of managements needs in producing the required reports. Spreadsheets, control analysis, and customer relationship management are just a few of the controls provided by information technology.
Banking management has also benefited from information technology in many ways. Another advantage is the amount of information that these systems have made available to management. Management can now see which branches are sending money, which are making errors and the amount of money each branch is making. The computerized systems enable the managers to identify large bodies of transactions coming from branches and locate the selling opportunities for different products. They are looking for marketing opportunities in order to increase profits and publicity (Information technology and banking, p. 7).
Management teams have many detailed reports and responsibilities for keeping the profits up to justify keeping their branch open.
Related Posts
Filed under Customer Support Software Freeware by on Sep 3rd, 2011. Comment.