New .bank domain attracts 3000 applications

New .bank domain attracts 3000 applications

More than 3000 financial institutions have applied for .bank domain names within 24 hours of the more secure Web address going on general release.

The domain is managed by fTLD Registry Services, a private company specifically set up for the task, and owned, operated and governed by banks, insurance companies and their respective trade associations.

Having seen more than 700 applications for the new domains during an initial registration period, general availability was syncrhonised across the globe on 23 and 24 June.

“We are pleased to see so many financial institutions registering for .BANK - a move that clearly signifies the dedication and importance banks place on improving protections for their customers’ sensitive information from the growing threat of cyber attacks,” says Chris Feeney, president of FSR’s cybersecurity and technology policy division, Bits. “The .BANK online space has more than 30 enhanced security requirements that are specially designed to create a trusted, verified and more secure location for online banking business.”

Domains are awarded on a first-come first-serve basis. Security requirements include mandatory verification and re-verification of charters and licensures to ensure only legitimate banking community members are awarded fTLD has contracted with Symantec to verify the authenticity of organisations, and Architelos to monitor security in the community.

Comments: (2)

A Finextra member
A Finextra member 26 June, 2015, 03:221 like 1 like

Another clever way to make money. What is next? .branch .atm 

Personally I don't see any sense in that. Stressing the enhanced security would not make me buying a .bank if I would run a bank. Not that I don't appreciate more security for online banking but well .bank does not convince me.

A Finextra member
A Finextra member 26 June, 2015, 10:24Be the first to give this comment the thumbs up 0 likes

I guess bankers were tiered of the .com sqatters or similar bank names and one domain to go by. Not that this domain will solve any other problem, the authenticity is bit of a fluff right now. Not buying into that selling point (yet!).