18 August 2017
Find out more

Financial services .FIN domain name mooted

20 November 2000  |  3276 views  |  0 http

Thomson Financial Media says it is to sponsor a global summit to discuss the creation of a .FIN domain name.

TFM says its proposed summit would bring together financial service regulators, associations, and institutions, as well as representatives of consumers and other interested parties from around the world, to discuss the creation of a new financial domain name and build a global consensus on the policies it would follow and the decision-making structure it would employ.

TFM's initiative follows the recent vote by the Internet Corporation for Assigned Names and Numbers (Icann) to select new top level domain names (TLDs). The Icann Board did not select a proposal from a Banking Association based in Monaco for a financial domain, on the basis that the proposal was insufficiently representative of the global banking sector.

"A new domain name would permit global financial institutions to consolidate efforts to promote safety, security and reliability of Internet-based transactions," says TFM president and CEO, Richard Burns. "We believe this would provide significant public benefits. In addition, a financial domain name would create a standard identification for institutions within the financial services industry and would thus provide consumers with greater certainty in conducting electronic transactions over the Internet."

In public comments, Christie Sciacca, bank technology group director for the Federal Deposit Insurance Corporation, states that "a .FIN TLD has the potential to provide real benefits to the public in identifying legitimate regulated financial industry participants".

He adds: "The FDIC strongly believes such a gTLD should be sponsored by a group of internationally recognised regulators under a clear set of criteria for registrants."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Trust is key to Internet commerce say surfers

Trust is key to Internet commerce say surfers

14 November 2000  |  2643 views  |  0 comments
Competition tops security in bank Internet fears

Competition tops security in bank Internet fears

28 September 2000  |  2867 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.worldpaymentsreport.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
7386 views comments | 21 tweets | 22 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
7236 views comments | 19 tweets | 23 linkedin
hands typing furiouslyWhy Blockchain Might Not Be The Future For...
5976 views 1 | 5 tweets | 3 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
5837 views comments | 10 tweets | 7 linkedin
Apple sidelined as Beijing transit system launches payments appApple sidelined as Beijing transit system...
5802 views comments | 11 tweets | 9 linkedin