The Financial Trust Network is a collaborative initiative to protect consumers in the online world from Identity Theft and all fraudulent activities.
Our goal is to provide the same state-of-the-art online security for all banks and financial institutions - regardless of the security initiatives of the respective financial institution themselves.

The Financial Trust Network is independent of the financial institutions, however it is supported by most of them and also by many other associations.

Unfortunately too many financial institutions regard Security as a competitive advantage which results in virtually no collaboration between the Institutions. This results in a  mixture of different security approaches and the consumer is left confused. We have a shared ATM network where authentication and security is provided in a collaborative approach. Why can't we do the same thing for online services?

The Financial Trust Network provides a database of client policies for every financial instituion in Australia that is a member of the ABA to protect however we aim to expand this Globally in the coming year to unclude European financial institutions such as those in the UK and Germany as well as the USA and Canada. We will also work with merchants to provide consumers using TrustDefender with greater confidence in the merchant websites they visit or transact with. Knowing exactly what SSL Certificates or Internet request belong to a particular web service is a fundamental step towards a complete consumer protection. Check out the list of supported financial Institutions.

 Why?

The idea for the Financial Trust Network arose during the Cyberwars 2007 conference organized by Online Banking Review. The clear message the audience recieved on the day, was that there will be no collaboration between the banks to tackle identity fraud as they see it as a competitive advantage.

“I think at the moment it’s just too big a problem and it’s too difficult and therefore we’re all developing ‘point’ solutions.” Jim Karvounaris, global head of information security with ANZ, told the audience.

Likewise, Kaylene O’Neill, senior manager of security & financial crimes with NAB says: “At the moment the banks are going out with point solutions until such time as we come up with something that everyone’s happy with. What you will see is a tiered approach.”

Bryan Inch, head of financial services with RaboPlus Australia & New Zealand concludes that “We’re in a dangerous situation where, to a degree, the public are in the dark as to the sophistication of attacks that are out there. They have probably been given some false comfort with the measures that they’re currently operating under.”

Therefore the Financial Trust Network project was born to make sure that intially all Australian Online Banking Users get the same world class security solution to protect them from any forms of online fraud - regardless what bank or financial institution they use.

Bennefits

The Financial Trust Network is providing a database of trust policies for all banks and financial institutions. Initially we have provided this service for Australia financial institutions, however we plan to expand the service and provide the same service for some European countries including the UK, Germany, and the USA.

Financial Institution

As a financial institution you have the following bennefits:

• Promotes your commitment to provide a world-class protection for your customers
• Collaborate on a common independent security platform across the industry
• Protects your brand
• Builds customer loyalty
• Boost confidence in your company online applications

 Consumers 

With the Financial TrustNetwork, a consumer will get the following bennefits:

• Ensures they are really connected to the right financial institution
• Enables client has always the right policies for their chosen financial institution
• Protection from Identity Theft and Online Fraud
• Enables strong protection from all different kinds of threats including Man-in-the-Middle, Cross-Site-Scripting and other Phishing techniques

Note: As a consumer, you need a client software (Download TrustDefender Gold Edition now!) to benefit from the Financial Trust Network. Please refer to the supported Client section for more information.