|By PR Newswire||
|February 7, 2007 04:11 PM EST||
WASHINGTON, Feb. 7 /PRNewswire-USNewswire/ -- A just-completed survey by America's Community Bankers reveals that data security continues to be a significant issue for community banks and their customers, and that card network and congressional action is necessary to address this far-reaching problem.
"These survey results, released with the backdrop of the recent TJX data breach, underscore the need for immediate attention from Visa and MasterCard and Congressional action," said Michael T. Crowley, Jr., chairman of ACB's recently formed Debit Card Fraud Committee. Crowley is also chairman, president and CEO of Bank Mutual, Milwaukee, Wis.
"These data breaches are disturbing, disruptive and costly. Consumer financial data is being exposed due to lax security at the merchant level. The foundation of our business, customer trust, is being jeopardized because of lack of enforcement of payment card industry standards by the card associations and lack of adherence to those standards by the merchants," Crowley added. "Unfortunately, it is the local community banks that are bearing the operational and reputation costs of the merchants' inability to protect consumer financial information," stated Crowley.
The following are some of the highlights from the ACB member survey conducted between January 26 and February 5.
-- Of the 181 respondents, more than 96 percent said they issued debit cards, while 19 percent said they issued credit cards. -- In the past 24 months, 70 percent of respondents said their bank had to reissue cards due to data breaches three times or more and 39% said their bank had to reissue cards more than five times. -- Eighty-nine percent of the debit card issuers and 53 percent of the credit card issuers indicated that their customers had been affected by a data breach. -- Of those affected by a data breach, 92 percent had reissued cards to customers.
While not specifically asked in the survey, cumulative data reflect that the average cost for reissuing each debit card is approximately $10-20 per card. Therefore, a bank reissuing 10,000 cards three times at an average cost of $15 per card would incur a cost of $450,000.
This survey underscores that retailers are failing to provide an appropriate level of data security, exposing consumers to serious risk of identity theft, and imposing significant operational and reputational costs on community banks serving those customers.
In recent letters to VISA and MasterCard ACB recommended that both companies upgrade their merchant compliance program by increasing fines for violators; publish the names of merchants not in compliance; and remove merchants that are consistently out of compliance.
ACB is working with members of Congress to require timely public disclosure of essential information when a breach occurs, and require a reimbursement mechanism so that those responsible for the breach bear the cost of fixing it and protecting the public.
America's Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit http://www.americascommunitybankers.com/.America's Community Bankers
CONTACT: Robert Schmermund of America's Community Bankers,
+1-202-857-3104, Home: +1-301-858-0922
Web site: http://www.americascommunitybankers.com/
While poor system performance occurs for any number of reasons (poor code, understaffed teams, inadequate legacy systems), this week’s post should help you quickly diagnose and fix a few common problems, while setting yourself up for a more stable future at the same time. Modern application frameworks have made it very easy to build not only powerful back-ends, but also rich, web-based user interfaces that are pushed out to the client in real-time. Often this involves a lot of data being transf...
Apr. 1, 2015 04:12 PM EDT Reads: 372
InfoScout in San Francisco gleans new levels of accurate insights into retail buyer behavior by collecting data directly from consumers’ sales receipts. In order to better analyze actual retail behaviors and patterns, InfoScout provides incentives for buyers to share their receipts, but InfoScout is then faced with the daunting task of managing and cleansing that essential data to provide actionable and understandable insights.
Apr. 1, 2015 03:45 PM EDT Reads: 368
Best practices for helping DevOps and Test collaborate in ways that make your SDLC leaner and more scalable. The business demand for "more innovative software, faster" is driving a surge of interest in DevOps, Agile and Lean software development practices. However, today's testing processes are typically bogged down by weighty burdens such as the difficulty of 1) accessing complete Dev/Test environments; 2) acquiring complete, sanitized test data; and 3) configuring the behavior of the environm...
Apr. 1, 2015 03:20 PM EDT Reads: 390
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
Apr. 1, 2015 03:00 PM EDT Reads: 3,279
As a group of concepts, DevOps has converged on several prominent themes including continuous software delivery, automation, and configuration management (CM). These integral pieces often form the pillars of an organization’s DevOps efforts, even as other bigger pieces like overarching best practices and guidelines are still being tried and tested. Being that DevOps is a relatively new paradigm - movement - methodology - [insert your own label here], standards around it have yet to be codified a...
Apr. 1, 2015 03:00 PM EDT Reads: 957
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional S...
Apr. 1, 2015 03:00 PM EDT Reads: 3,107
Learn the top API testing issues that organizations encounter and how automation plus a DevOps team approach can address these top API testing challenges. Ensuring API integrity is difficult in today's complex application cloud, on-premises and hybrid environment scenarios. In this interview with TechTarget, Parasoft solution architect manager Spencer Debrosse shares his experiences about the top API testing issues that organizations encounter and how automation and a DevOps team approach can a...
Apr. 1, 2015 02:00 PM EDT Reads: 506
Chef and Canonical announced a partnership to integrate and distribute Chef with Ubuntu. Canonical is integrating the Chef automation platform with Canonical's Machine-As-A-Service (MAAS), enabling users to automate the provisioning, configuration and deployment of bare metal compute resources in the data center. Canonical is packaging Chef 12 server in upcoming distributions of its Ubuntu open source operating system and will provide commercial support for Chef within its user base.
Apr. 1, 2015 01:00 PM EDT Reads: 592
When it comes to microservices there are myths and uncertainty about the journey ahead. Deploying a “Hello World” app on Docker is a long way from making microservices work in real enterprises with large applications, complex environments and existing organizational structures. February 19, 2015 10:00am PT / 1:00pm ET → 45 Minutes Join our four experts: Special host Gene Kim, Gary Gruver, Randy Shoup and XebiaLabs’ Andrew Phillips as they explore the realities of microservices in today’s IT worl...
Apr. 1, 2015 12:45 PM EDT Reads: 1,943
After what feel like an interminable cycle of media frenzy followed by hype and hysteria cycles, the practical elements of real world cloud implementations are starting to become better documented. But what is really different in the cloud? How do software applications behave, live, interact and interconnect inside the cloud? Where do cloud architectures differ so markedly from their predecessors that we need to learn a new set of mechanics – and, when do we start to refer to software progra...
Apr. 1, 2015 12:45 PM EDT Reads: 541
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on T...
Apr. 1, 2015 12:00 PM EDT Reads: 1,609
Even though it’s now Microservices Journal, long-time fans of SOA World Magazine can take comfort in the fact that the URL – soa.sys-con.com – remains unchanged. And that’s no mistake, as microservices are really nothing more than a new and improved take on the Service-Oriented Architecture (SOA) best practices we struggled to hammer out over the last decade. Skeptics, however, might say that this change is nothing more than an exercise in buzzword-hopping. SOA is passé, and now that people are ...
Apr. 1, 2015 12:00 PM EDT Reads: 1,480
Hosted PaaS providers have given independent developers and startups huge advantages in efficiency and reduced time-to-market over their more process-bound counterparts in enterprises. Software frameworks are now available that allow enterprise IT departments to provide these same advantages for developers in their own organization. In his workshop session at DevOps Summit, Troy Topnik, ActiveState’s Technical Product Manager, will show how on-prem or cloud-hosted Private PaaS can enable organ...
Apr. 1, 2015 12:00 PM EDT Reads: 1,456
For those of us that have been practicing SOA for over a decade, it's surprising that there's so much interest in microservices. In fairness microservices don't look like the vendor play that was early SOA in the early noughties. But experienced SOA practitioners everywhere will be wondering if microservices is actually a good thing. You see microservices is basically an SOA pattern that inherits all the well-known SOA principles and adds characteristics that address the use of SOA for distribut...
Apr. 1, 2015 11:00 AM EDT Reads: 1,128
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Ras...
Apr. 1, 2015 11:00 AM EDT Reads: 2,279
Microservice architectures are the new hotness, even though they aren't really all that different (in principle) from the paradigm described by SOA (which is dead, or not dead, depending on whom you ask). One of the things this decompositional approach to application architecture does is encourage developers and operations (some might even say DevOps) to re-evaluate scaling strategies. In particular, the notion is forwarded that an application should be built to scale and then infrastructure sho...
Apr. 1, 2015 11:00 AM EDT Reads: 2,604
Our guest on the podcast this week is Jason Bloomberg, President at Intellyx. When we build services we want them to be lightweight, stateless and scalable while doing one thing really well. In today's cloud world, we're revisiting what to takes to make a good service in the first place. Listen in to learn why following "the book" doesn't necessarily mean that you're solving key business problems.
Apr. 1, 2015 10:45 AM EDT Reads: 1,394
Microservices are the result of decomposing applications. That may sound a lot like SOA, but SOA was based on an object-oriented (noun) premise; that is, services were built around an object - like a customer - with all the necessary operations (functions) that go along with it. SOA was also founded on a variety of standards (most of them coming out of OASIS) like SOAP, WSDL, XML and UDDI. Microservices have no standards (at least none deriving from a standards body or organization) and can be b...
Apr. 1, 2015 10:45 AM EDT Reads: 2,314
Right off the bat, Newman advises that we should "think of microservices as a specific approach for SOA in the same way that XP or Scrum are specific approaches for Agile Software development". These analogies are very interesting because my expectation was that microservices is a pattern. So I might infer that microservices is a set of process techniques as opposed to an architectural approach. Yet in the book, Newman clearly includes some elements of concept model and architecture as well as p...
Apr. 1, 2015 10:15 AM EDT Reads: 2,240
SYS-CON Events announced today the DevOps Foundation Certification Course, being held June ?, 2015, in conjunction with DevOps Summit and 16th Cloud Expo at the Javits Center in New York City, NY. This sixteen (16) hour course provides an introduction to DevOps – the cultural and professional movement that stresses communication, collaboration, integration and automation in order to improve the flow of work between software developers and IT operations professionals. Improved workflows will res...
Apr. 1, 2015 10:00 AM EDT Reads: 1,803