In 2019, the Identity Theft Resource Center reported that phishing, ransomware and malware, and skimming made up 28.7 percent of bank website breaches. As COVID-19 continues to ravage the world, financial institutions should safeguard their websites and customers from cybercriminals who are using the pandemic to prey on the vulnerable.

You can augment the security of your bank website by utilizing a .BANK domain. Changing your bank domain isn’t a simple decision to make, especially if you have an established website and customer base. We’re here to explain .BANK, the advantage of the custom domain, and requirements for hosting your .BANK website.

 

What is .BANK?

In 2015, the American Bankers Association (ABA) partnered with fTLD Registry Services to create .BANK for the banking sector. Only government-regulated retail banks, savings associations, national banks, or bank holding or parent companies can register for the custom domain. Associations and regulators of these entities are also eligible.

 

Why should I change my domain name to .BANK?

Powered by Verisign, the leading security provider of domain name registry services and internet infrastructure, .BANK prevents cyberthieves from creating fake websites and emails that spoof a legitimate bank. Banks that register for a .BANK domain must meet the security requirements established by the ADA and fTLD Registry Services. The two organizations update the requirements regularly to meet the latest technology and cyberthreats.

fTLD Registry Services recognizes a .BANK adopter as a Cybersecurity Pioneer — its stamp of approval. When customers see .BANK at the end of your website and email correspondence, they can be confident that their private information and data will remain secure.

 

Where can I host my .BANK website?

Any web hosting provider that meets fTLD Registry Services’ security requirements can host your .BANK website. First of all, your web hosting service must set up your .BANK website to use HTTPS technology and install a digital certificate that protects and encrypts data shared between your user’s browser and your web host. This includes Transport Layer Security (TLS) version 1.2 or higher. Your web hosting service must also meet Domain Name System Security Extensions (DNSSEC) standards that prevent users from being redirected to a fake website.

Not all hosting providers are qualified to host .BANK domains. Be sure your current service has the capability or find one that can.

 

Final Words

Purchasing a .BANK domain presents a unique marketing opportunity for banks in addition to guaranteeing advanced protection against cybercrime. Keep in mind that credit unions aren’t authorized to use .BANK. However, credit unions and associations are eligible to register for a .CREDITUNION domain, which is managed by the Credit Union National Association.

At BankSITE® Services, our network infrastructure consists of layers of security and monitoring systems. We’re ready to host your bank or credit union website and can complete the transition in as little as 30 days!