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.Bank and .Insurance Financial TLD Initiative
==.Bank and .Insurance Financial TLD Initiative==
BITS in partnership with the [[American Bankers Association]] confirmed their application for the [[.bank]] and [[.insurance]] top level domain names ([[TLD]]s) with [[ICANN]]'s [[New gTLD Program]] to provide a safe and secure online space for the banking and insurance industry and its millions of consumers. [[Craig Schwartz]], former chief gTLD registry liaison of ICANN serves as the head of operation for the BITS and ABA Financial TLD Initiative. <ref>[ ABA and The Financial Services Roundtable Apply for Financial Domains to Protect Consumers]</ref> The partnership also formed the [[fTLD Registry Services, LLC]] to handle the applications for both domain name strings and to manage its operations once approved by ICANN.<ref>[ Financial Top
Level Domain Initiative]</ref> They chose Verisign to serve as their bank-end registry solutions provider. <ref>[ VeriSign now front-runner for .bank]</ref>
===Possible Objection===
The BITS and ABA's application for .bank and .insurance domain name string will compete with [[Radix]], a subsidiary business of [[Directi]] Group which also confirmed its application for 31 new gTLDs including .bank and .insurance. <ref>[ Directi Invest Over $30 Million & Applies For 31 New gTLD’s: Including: .Law, .Web, .Bank, .Shop]</ref>
==BITS and ICANN==

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