Initiatives

Current Initiatives

  •

    Fraud

    The BITS Fraud Program reduces fraud in the industry through information sharing, best practices and analysis of emerging threats. BITS collaborates with industry associations and law enforcement agencies to address mortgage, payment card, credit bust out and remote channel fraud.

  • Regulation

    The BITS Regulation Program maintains strong, standing relationships with financial and non-financial regulators, and develops and delivers detailed analysis of regulatory and supervisory proposals and related industry efforts. The program's current focus includes Dodd-Frank, cybersecurity, privacy and data security.

  • Security

    The BITS Security Program works to strengthen the safety and soundness of financial institutions by sharing best practices and successful strategies for developing secure infrastructures, products and services, and maintaining public and private-sector confidence. BITS is addressing email security, malware, software assurance, social media, cloud computing, mobile financial services, and cybersecurity.

  • Special Interest Groups

    BITS hosts Special Interest Groups to provide information sharing opportunities on topics such as cybersecurity legislation, mobile financial services, emerging technologies and vendor management.

  • Financial Top Level Domains (fTLDs)

    On June 20, 2011, the Internet Corporation for Assigned Names and Numbers (ICANN) approved a program to expand generic Top Level Domains (gTLDs) (e.g., .com, org., .net), which could lead to the creation of financial domains, such as .bank, .insure, and .invest. The Roundtable and American Bankers Association are working together to apply for and operate a financially-oriented domain(s), or fTLD(s), for the industry. In December 2011, BITS submitted Proposed Elevated Security Standards to ICANN to be used in evaluating the security levels of applicants for financial domains.