New ‘.Bank’ Domains To Go Live Next Week

Regulation
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Specially-designated domains will offer increased security and visibility for banking organisations

Banks and financial service institutions will get the opportunity to register their own unique finance-focused domain names from next week, it has been revealed.

From June 24, new ‘.bank’ domains will be available to UK businesses that are eligible members of the global banking community.

The launch forms part of the release of a wide range of new domain names this year aimed at opening up web registry to as many organisations and people as possible.

Shored up

sophosfTLD Registry Services, the company managing the new domains, say that all “.bank” domains will meet enhanced security requirements that are not mandated in other top-level domains, thanks to new provisions provided by security specialists Symantec.

These new provisions will also help eliminate cybersquatting and typosquatting, fTLD says, as requirements for strong encryption will help prevent cyber criminals from eavesdropping and data tampering, while ensuring that the intended recipient – other institutions, vendors, customers and regulators – is reading the exact communication sent.

“‘.bank’ is the first top-level domain created specifically by and for the banking industry,” said Nate Wehunt, senior vice president and digital channels manager at City National Bank.

“The enhanced controls and protocols that are integral to ‘.bank’ raise the standards for security. What’s more, this initiative provides a new layer of support for the ever-evolving cyber security space, and – as the first bank to be issued a ‘.bank’ domain name – City National is pleased to play a leadership role.”

Any organisations that are still to register their interest can still do so now, with domains being awarded on a first-come, first-served basis. fTLD says that it had more than 700 applications made for “.bank” domains during the initial sunrise registration period.

“For banks looking for an innovative, secure way to connect with customers, partners and regulators, ‘.bank’ is the solution,” said Craig Schwartz, managing director of fTLD.

“This is a pivotal opportunity for the industry moving forward, and we’ve seen significant demand for ‘.bank’ registrations during sunrise. An increasing number of banks recognize that a ‘.bank’ domain will signify that their institution has been verified as legitimate and committed to implementing security requirements that go beyond existing standards to protect customers’ sensitive information.”

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