Banks and Financial Services

Banks and Financial Services

Banks and Financial Services (BFS)

Large banks and financial institutes are complex organizations. They offer a variety of services to business and private customers and often control billions of dollars in cash and assets. Today, many of the basic services and transactions are done online via the internet. The direct result is less need for the traditional branch model with a fully staffed office in every city or village. Specifically retail banks are reducing staff levels and in the new situation the remaining staff will be more specialized and have more and bigger responsibilities. They offer for example specialized advice to important customers or manage complex transactions. And, since they are human and have a complex job, one of their essential business tools still is the telephone.

Telephony security in finance organisations

And here we see something strange. There is perhaps no market sector where ICT security and protection against data theft has the same level of priority as in the financial sector. Stealing military secrets is a serious threat to many countries, but bringing down a country’s financial system or even a single bank may be a more frightening scenario in a lot of people’s minds. Still, it strikes us at RSconnect that much attention is paid to the secured access to databases and applications, while at the same time telecommunication assets are relatively easy to access.

For example, the Extension Mobility functions that allow staff members in banks to work from any desk in the office while using their own telephone numbers and features, are often a security weak spot. People often forget to log out from their desktop telephones, leaving the device open for all kinds of unauthorized use. This might lead to fraud calls from an extension number of the bank, unauthorized access to the personal contact data of key customers, or access to the voicemail system.

VoIP Single Sign-On solution for banks

Since 2005, the RSconnect ALM product has helped banks and other financial institutes to protect their VoIP and Unified Communications implementations against unauthorized access. The solution is very user-friendly, feature-rich and over the years RSconnect has proved to its finance customers that they have always been the first with new and advanced features. Our Active Login Manager has been implemented in many leading banks and financial institutes across the world and helps these organizations to protect their telecommunication assets against fraud and hackers.