BankOnIT is pleased to announce Sara Nielsen has joined BankOnIT as senior vice president. Nielsen, previously with the Federal Reserve Bank of Kansas City for over 13 years, is also a former commercial banker.
Are Your Facebook Friends Giving You a Virus?
Highly targeted attacks known as spear phishing go after individuals or groups of individuals by distributing links or attachments that contain viruses and malware, such as ransomware.
Community Bank Net Income Rises to $6 Billion but There are Competitive Pressures
Community banks posted solid financial performance for the third quarter of 2017 as reported in the recently released third quarter 2017 FDIC Quarterly Banking Profile, putting banks well into the black with profitability and making the financial crisis seem more distant.
The size of community banks is growing. In the 1950s, a community bank was thought of as having a single office serving a single community. Today, many community banks have branches, some with 6, 12 or 36 offices, serving multiple communities. And community banks represent 92% of all FDIC insured institutions in the USA.
There is something they all have in common.
What would your day look like if you had IT capabilities that provided better reliability, increased security, fewer problems and a better outcome? More banks are choosing BankOnIT as the way for them to accomplish these objectives.
Your institution’s reputation is one of its most valuable, hard-earned assets. It’s like a savings account. Make deposits of goodwill and good behavior – some small, some large – and eventually you’ve got a healthy account.
But a few wrong moves, and that account can dwindle quickly. Once you’ve lost the public’s trust, it’s tough to get back.
Just ask Equifax.
Equifax is a credit bureau. Sonic is a fast food chain. Deloitte is an accounting firm. All of these firms have IT departments, and each may also have some people who are responsible for cybersecurity. Yet each of these firms has had a well publicized cybersecurity breach in the past few weeks, with Equifax having a seemingly endless occurrence of cybersecurity issues. And they’re not alone; Target, Sony, HBO - there is an ever growing list of companies that are encountering cybersecurity breaches.
Demand for IT workers across every industry sector saw gains last month, according to the Bureau of Labor Statistics. With high demand for skilled IT professionals, especially in the areas of IT leadership and cybersecurity, attracting qualified technical staff to the banking industry is especially challenging.
Over 40 banks in 30 days said yes, they wanted BankOnIT’s recently released virtual Financial Institution IT Officer, FinITO™. FinITO™, an easy-to-use, secure online program helps client banks manage, document and report on hundreds of IT compliance tasks that need to be addressed in a typical year.
The Community Bankers Association of Illinois (CBAI) awarded BankOnIT with the Service Development Award. Congratulations to everyone at BankOnIT for their hard work and dedication!
CBAI presents the Service Development Award annually to a company in recognition for the development of products and services that significantly enhance the internal operations of community banks and the delivery of bank services to their customers. Tom Marantz, Chairman of CBAI, presented the Service Development Award to BankOnIT at CBAI’s 43rd Annual Convention.