Changes

===ABA and BITS===

===ABA and BITS===

The partnership between ABA and BITS for the .bank domain was created to ensure the safety and security of the consumer's online banking. “Consumers need to feel confident that when they go to a .bank or .insurance site, that a trusted third-party has vetted these domains names,” said Doug Johnson, ABA vice president of risk management. “New financial domains will be a detriment – rather than asset – if they cannot be trusted. That’s why our groups are leading this effort.” <ref>[http://www.bankinfosecurity.com/4-online-security-reasons-for-bank-a-4818/ 4 Online Security Reasons for '.bank']</ref>

The partnership between ABA and BITS for the .bank domain was created to ensure the safety and security of the industry's online operations and customers' information. “Consumers need to feel confident that when they go to a .bank or .insurance site, that a trusted third-party has vetted these domains names,” said Doug Johnson, ABA vice president of risk management. “New financial domains will be a detriment – rather than asset – if they cannot be trusted. That’s why our groups are leading this effort.” <ref>[http://www.bankinfosecurity.com/4-online-security-reasons-for-bank-a-4818/ 4 Online Security Reasons for '.bank']</ref>

The .bank application by [[American Bankers Association]] (ABA) and [[BITS]] is headed by [[Craig Schwartz]], former Chief gTLD Registry Liaison of ICANN. He served as General Manager for Registry Programs of the project.<ref>[http://domainincite.com/senior-icann-staffer-hired-by-bank-project/ Senior ICANN Staff Hired by .bank Project]</ref> According to Schwartz, ABA and BITS will establish a new company that will be responsible for filing the application for .bank. A community-designated application was filed to avoid the ICANN auction in anticipation for any possible string contention from other applications. Schwartz explained, “We’ve looked at the scoring and while it may not come into play at all, we do believe we can meet the requisite score. But we’re certainly mindful of what’s happening in the space, there’s always the possibility of contention." He added that their plan is to begin the operations of .bank as a business to business and it will be primarily used for secure inter-bank transactions and will partner with several ICANN accredited registrars able to meet the company’s security requirements.<ref>[http://domainincite.com/bits-may-apply-for-six-financial-gtlds/ BITS may apply for six financial gTLDs]</ref>

The .bank application by [[American Bankers Association]] (ABA) and [[BITS]] is headed by [[Craig Schwartz]], former Chief gTLD Registry Liaison of ICANN. He served as General Manager for Registry Programs of the project.<ref>[http://domainincite.com/senior-icann-staffer-hired-by-bank-project/ Senior ICANN Staff Hired by .bank Project]</ref> According to Schwartz, ABA and BITS will establish a new company that will be responsible for filing the application for .bank. A community-designated application was filed to avoid the ICANN auction in anticipation for any possible string contention from other applications. Schwartz explained, “We’ve looked at the scoring and while it may not come into play at all, we do believe we can meet the requisite score. But we’re certainly mindful of what’s happening in the space, there’s always the possibility of contention." He added that their plan is to begin the operations of .bank as a business to business and it will be primarily used for secure inter-bank transactions and will partner with several ICANN accredited registrars able to meet the company’s security requirements.<ref>[http://domainincite.com/bits-may-apply-for-six-financial-gtlds/ BITS may apply for six financial gTLDs]</ref>