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    Securing Financial Transfers

    Written by

    Renee Boucher Ferguson
    Published July 14, 2003
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      Integration software provider Sterling Commerce Inc. announced last week new software capabilities that enable community banks to meet federal rules of privacy and security when moving financial data between banks and other financial institutions.

      With a regulatory climate that leaves little room for mistakes regarding the security of consumer information, ConnectDirect for Community Banks, which is a reconfiguration of Sterlings ConnectDirect suite, establishes a system for secure unattended, bidirectional data delivery between bank branches and centrally located servers.

      Integrating smaller banks

      Sterling Commerce ConnectDirect for Community Banks

      • Enables community banks to securely move financial data between banks and financial institutions
      • Makes ConnectDirect data transfer available to organizations that dont require high-volume or high-frequency transactions
      • Establishes a secure system for unattended, bidirectional data delivery between bank branches and a server
      • Allows community banks to send data to other financial institutions including automated clearinghouses and external processors that also use ConnectDirect

      ConnectDirect for Community Banks includes Sterlings Secure+ Option, which encrypts data flows.

      ConnectDirect automates the movement of large volumes of data. It moves files containing any type of data across multiple platforms, file systems and disparate media.

      The software helps track and prioritize data so critical processes are completed first. At the same time, dynamic recovery from transmission errors and disruptions guarantees that data is delivered on time. Early notification of error conditions allows changes to be made quickly when problems come up.

      John Calce, CEO of Vizor Group Inc., in Dallas, is using ConnectDirect to securely upload files to a mutual fund partner. Vizor, which helps waiters and waitresses invest a portion of their tip income, will look to ConnectDirect for Community Banks in the future to upload to local banks.

      “Its a good value for our money. We were a startup company a couple years ago, and certainly today we are cost conscious,” said Calce. “ConnectDirect [helps] with that.”

      Renee Boucher Ferguson
      Renee Boucher Ferguson

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