This presentation focuses on Internet Banking as an extension of a bank’s delivery network for traditional consumer, retail and wholesale/commercial services. This is a baseline presentation designed for banker outreach activities to overview Internet banking trends, highlight key Risk Management practices banks should consider and raise awareness on OCC Internet banking supervisory activities. Due to the rapid evolution of Internet and Electronic banking, the audience may ask specific technical questions that are beyond the scope of this presentation and may require a greater degree of technical expertise to answer. Note: This presentation was last updated May 15, 2000.
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Management’s service provider or software vendor selection process should include: Risk Assessment Due Diligence Contract Requirements Oversight Program FFIEC is developing guidance to outline this process. The driving force behind the development of the Interagency guidance are concerns highlighted by bank’s implementing Internet Banking strategies. These strategies include traditional service providers/software vendors use to working with a regulated institution but also companies that are new to dealing with a regulated entity or just a new company. The newer companies may not have much of a financial history. Also, we are seeing an increasing reliance on strategic alliances. IMPORTANT TO EMPHASIZED PROCESS NATURE.
Wireless Banking April 1, 2003 Clifford A. Wilke Director of Bank Technology Office of the Comptroller of the Currency Washington, DC
The views and opinions expressed in this presentation do not necessarily represent the views and directives of the Office of the Comptroller of the Currency or the Office of the Director of the Bank Technology Division.