fTLD Logoby Craig Schwartz, Managing Director, fTLD Registry Services

When it comes to attracting new customers, your business’ website is the one-stop shop for introducing potential buyers to your mission, your products and your team. But with all the competing chatter about the role of social media and mobile apps, it’s harder than ever to get customers to pledge their loyalty.

And in many ways, a website’s domain name is a critical component of the introduction.

As we are painfully aware, cybersecurity breaches have increased significantly in the past decade, causing financial and perhaps even reputational, losses for brands that are not at the forefront of anti-cyber attack practices (and even some which are). Yet consumers across the globe still continue to conduct business online. As such, they are looking for brands to take the lead in ensuring a safe virtual experience.

Fortunately, over the past few years, a new initiative from ICANN has allowed the banking industry to exert a more authoritative online space for their customers, new and old.

For years, a company could only choose from a small selection of Internet web extensions including .com, .net and .org. In the banking industry, the introduction of the new extension .BANK (which fTLD Registry Services manages) allows website URLs to communicate much more to customers than just an address.

As we recently shared, since May 2015, 2,465 banks have purchased one or more .BANK domain names—signaling their commitment to providing a trusted, verified and more secure location online for their banking services.

That means when a customer of a bank who has adopted a .BANK domain interacts with them online, whether via email, banking or other means, they know that enhanced security practices are in place, ensuring a safer end-user experience.

While this initiative is still in the early stages, in the coming months and years, we’re confident that many more banks will join the .BANK movement.

As technology evolves, so will new communications platforms that compete for a company’s time and energy. As they should, brands will continue to look for new ways to reach their customer base.

Yet the foundational structure for a brand will always harken back to a website, anchored by a relevant domain name.

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