Move over Chip plus pin! There is a new wave of super smart cards hitting the market and they are already certified by MasterCard and Visa. These cards not only add an additional layer of security which can assist a financial institution in complying with the FFIEC guidance, these cards can also be used to access more than one account, and more.

If the attendance at International Consumer Electronics Show is any indication of consumer confidence and the economy, then get ready for a fantastic 2012.

On Sunday, Jan. 8, the International Consumer Electronics Show pre-conference press events begin and ABA Banking Journal will be there covering them. CES is always a great place to restore your vision because of all of the innovation present.

Using 21st Century technology is an exciting space to be, and some financial institutions are getting it! The Digital Native is not a new topic of this blog; and as I prepare to attend the Consumer Electronics Show in early January, of course, the anticipation is starting to build. The good news is that some financial institutions are also causing me to feel a sense of anticipation by virtue of what they are beginning or, in a few cases, continuing to do in the Digital Native space. Here are just a few examples:

What could be the worst thing to happen while taking a vacation or at least a few days off? You guessed it… NO internet! I took a few days off around Thanksgiving and when we arrived at our destination, I exited the car, unlocked the cabin, checked my smart phone and realized… DEAD ZONE! No worries, the cabin has internet with a wireless router.

Complaints abound when it comes to devices, apps, and smart phone manufacturers knowing what we are doing when we don’t know that they know! Hmmm, isn’t that 21st Century CRM?

Recently I completed a business trip to Silicon Valley, and like attending the Consumer Electronics Show (CES), there is always something new to learn when you visit the center of the known computing galaxy.

Product delivery and the corresponding customer experience today is primarily a one- dimensional event. Oh and it’s boring, too! Let’s face it, bank technology is very slow to keep up with innovation and when it does, it is usually a single version.

There I was, standing in line, contemplating my destiny and thinking to myself about the potential outcomes. Will the result of my actions be harmful to me? Again, thinking about what could be, I justified my action by telling myself that everybody else was doing it and that it would be over really fast! At the same time, I felt inside a tremendous unshakable sense of danger and foreboding.   I took a deep breath and went for it.  Two minutes later, it was over.

Canada is about to become synonymous with chip and pin cards. Our northern neighbor is well on its way to full implementation of the EMV standard. We have written about this before, but to recap, the focus is to replace the current magstripe-based card system in the country with the chip and pin card program that is currently in use in Europe. Chip cards are plastic cards equipped with a microchip adhering to the standard developed by EuroPay, MasterCard, and Visa (hence EMV). The objective is to upgrade card security in Canada and to provide conformity to a standard that is a growing security initiative worldwide.  If Europe is any indication, the technology works as card-present fraud has been significantly reduced. (There are many factors involved and the ABA Banking Journal feature article in July 2011, “New gold standard?” offers a good overview.)