2009 BITS & FSTC Summit: Solutions Through Collaboration
 Eli Katz accepting his Innovator Award
 Mike Feliciano accepting his Innovator Award BITS and FSTC held a Summit for the business and technology sector of the financial services industry on March 3-5, 2009, at the Hyatt Regency Sarasota, Florida. The Summit was well attended and more importantly was held in an atmosphere of congenial and active exchange of ideas.
At a time when the industry is pressed to reduce costs yet uncover new efficiencies and greater security and resiliency in the wake of the financial crisis, attendees were eager for solutions. Expert testimony was heard, debated and attendees engaged each other in dialogue on a wide range of topics and challenges in the industry. Collaboration was viewed very positively for reducing individual corporate R&D costs, and the following top projects rose to the top for accelerated development of new best practices:
- Securing the Internet and Mobile Channel
- Improving Application Security
- Advancing Federated Identity and Identity Management
- Strengthening Identity Management through the introduction of biometrics
- Identifying best practices for effectively dealing with increased compliance and regulation
- Help in fighting Insider Fraud and Identity Theft
- Confronting alternative payments and financial service products
- Lowering the cost of operations and operational risk by utilizing RFID & other solutions
Other highlights of the Summit:
- Innovation Awards were presented by FSTC to 41st Parameter and Tyfone. FSTC created the innovation award to promote entrepreneurial drive for new technology applications, which have wide implications for strengthening the financial services industry. Interested parties submitted a white paper explaining the innovation and its contribution to efficiency, security, and profitability in the financial services. We were fortunate to have received many extraordinary submissions, and all were quite innovative making the analysis and ratings extremely close. The Innovation Awards represent the core values of FSTC, which thrives through the collaborative power of innovative thinking and creativity. The winning awards will be featured on FSTC's website.
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