Fear Of Identity Theft Discourages Consumers From Banking Online
Proactive security measures increase online banking confidence and use, study says
By By Deena M. Amato-McCoy
Bank Systems & Technology
May 08, 2007
For fear of becomming the next victim of identity theft, 150 million U.S. consumers don't bank online, according to experts. But the banking industry could improve profitability by as much as $8.3 billion per year if banks build consumers' confidence in online security, according to the TriCipher Consumer Online Banking Study, conducted by Javelin Strategy & Research (Pleasanton, Calif.) for TriCipher, a Los Gatos, Calif.-based authentication solutions provider.
The study, which was based on online survey responses from 3,349 U.S. adult consumers, reports that 31 million customers would feel safe enough to begin banking online and another 39 million online users would increase their online banking activity if their banks offered free identity protection software. Further, while only 6 percent of survey respondents have been victims of identity theft or fraud, 41 percent -- which translates to more than 88 million U.S. online banking customers -- would change banks or reduce their online service usage if their individual institution was compromised by a data breach, the study says, making identity protection a significant competitive differentiator. In addition to consumer demand, regulatory mandates and an increasingly hostile landscape are spurring banks' growing attention to online security, according to John DeSantis, CEO, president and executive chairman, TriCipher. As a result, "Institutions are enforcing stronger protection solutions," he says. San Francisco-based Wells Fargo ($482 billion in assets), for example, uses a multilayered, proactive Internet security strategy, according to Michele Scott, VP, Wells Fargo Online. "This approach relies on in-house expertise and the market's best-of-breed solutions," she explains. "We view education, comprehensive risk management and technology as the keys for fighting fraud," Scott continues, noting that the bank's Web site features a Fraud Information Center (www.wellsfargo.com/privacy_security/fraud) that teaches consumers how to recognize tactics used to steal personal information and necessary steps to help protect their accounts. The bank also offers account-activity e-mail alerts. A Free Ride Consumers are willing to take extra steps to protect their identities, but they do not want to pay extra for these services. "Many view this as a service they should get automatically," explains Stephen Knighten, statistical analyst, Javelin. "They are willing to take extra steps, but not at an expense." According to the study, 62 percent of online banking users would download and use identity protection software if their banks provided it for free. Consumers are interested in second-factor solutions, including biometrics (33 percent), one-time password tokens (20 percent) and peripheral device recognition solutions (15 percent). "The key to these solutions' success," says Knighten, "is that they must be convenient." Wells Fargo keeps "security measures as simple and convenient as possible for our customers," says the bank's Scott. "Much of the new security technology that we introduced last year is transparent to the customer. We take on the responsibility of protecting customer accounts rather than placing the burden on our consumers." While banks must foot the bill for these security measures, they can recover their investments by cross-selling to the lucrative online banking segment, notes TriCipher's DeSantis. "Banks can target them with profitable lines of credit, mortgages and similar products," he says. "The key is to reinforce trust and loyalty of account holders. ... Unless you have their confidence, they will start to stray."

Prices starts at around $350 so if you have an spare monitor lying unused at home, this Intel based Windows XP machine could be a good option for you. Unfortunately, this is currently available only for the Chinese market.
Steve Lodefink sent in his hard-earned $3 for four plastic bubbles containing pieces of trash from Christopher Goodwin's 
We're usually not too stoked about
These
If this found image is to be believed,
NVIDIA's been dancing around the general-purpose processor market for a while now -- we've heard reports that the company is
Lucky rich dudes and successful cinema houses are soon going to have one thing in common, they are all going to upgrade to the Sony CineAlta 4K SRX-R220 projector. The profound size of this new projector can give a vertically challenged person a huge complex. This mammoth projector can display 8.850.000 pixels of super high definition recordings in movie theaters and elite homes alike. It is the latest edition to Sony's SXRD (Silicon X-tal Reflective Display) line. Similar to the SRX-R1xx series it still can't reach 10 megapixels, but it features LMT-100 media processor, LMS-100 screen management system, RAID storage and built-in nonstop power supply. The projector boasts of 4096 x 2160 pixels resolution with a 2000:1 contrast and 14 foot Lambert brightness (apparently 47,964 cd/m2, as per Sony's site). the SRX-R220 can comfortably cover a 20 meter screen (65.6 feet) with its 4.2W xenon lamp. The R110 goes up to 17 meters with a 3.0W and 14 meters with a 2.0W lamp. The LMT-100 Media Block displays the pixels onscreen, peps the lowers resolution originals, decrypts the contents, process the multi-channel audio and place subtitles using XML or PNG files. The BNC connector lets you connect your various video gears to it, but you can hook up the computer, PlayStation 3 or AppleTV using a DVI port.
You copy it you pay for it and I don’t mean monitory pay–back. That’s the new mantra in the watch world at least. 





Crystal is beautiful by its very nature, so I don't know that anybody could argue that 

Has it really been 10 years since the first 
Lord have mercy, 
Flavoring



My friend Ani Phyo is a Renaissance 2.0 woman. When I first met her in 1993, she was an economics grad creating mind-bending cyberdelic video art for raves. Then, she became immersed in information architecture and wrote an accessible and popular "howto" book on the subject, 
