Reality: Most .BANK’ers report implementing our Security Requirements for around $1,000.
REALITY: We have new tools and partnerships that make migration easier than ever. On average, .BANK domains are setup over 2-3 weeks, however we’ve had banks complete the work in 4-5 hours.
REALITY: .BANK, through verification and Security Requirements, provides security that cannot be replicated in gTLDs like “.com”. Our .BANK’ers have prioritized migration because they found it to be the most cost effective, efficient way to protect their bank, employees and customers from phishing and spoofing, the leading causes of breaches.
REALITY: Initially there was a lull due to perceptions of high cost and complexity, but with our new tools, best practices, customer marketing and education templates, partnerships and outreach there has been a surge interest and migration. There are currently over 620 .BANKs live and many more are working with us to make the move now.
REALITY: Big banks believe in the security afforded by gated TLDs, like .BANK, but many have invested hundreds of thousands of dollars to secure their own gated and branded TLDs (.AMEX, .BARCLAYS, .BBVA, .BOFA, .BNPPARIBAS, .CHASE, .CITI, .HSBC, etc.). When the big banks move to gated domains they’ll use their own.
Using Your Web Address to Fight Phishing and Cyberattacks – ICBA Main Street Matters Blog, October 2019
If It’s Not .BANK, It’s Not My Bank – ABA Banking Journal, July 2019