How does Virtual Private Network service work in banking?

Whenever you use the internet through an Internet Service Provider (ISP) or at
another site, your computer is given an address on that provider's network. While
you can reach your bank from the Internet, you will normally be denied access to
services that are restricted to bank network addresses because your computer is
using an address from an external network.

But, if you are on the internet, you can still connect to the Bank's VPN service, in two ways. From a web browser or with a software VPN client. A VPN need not have explicit security features, such as authentication or content encryption. Virtual Private Network setup, can be used to separate traffic of different user communities over an underlying network with strong security features.

Seek secured private connectivity across public IP networks!

Extends geographical connectivity

Improves productivity

Improves security

Reduce transit time and transportation costs for remote users

Reduce operational costs versus traditional WAN

Simplify network topology

Provides global networking opportunities

Provides broadband networking compatibility

Provides faster ROI than traditional WAN

Provides telecommuter support

VPN are categorised into two types:

• Remote access VPN

• Site to site VPN

What is site to site Virtual Private Network in banking?

Such Site to site VPN allows you to have a secured connection between locations across the open internet. With the help if site to site VPN your bank can save a great deal of money, as you can use cheaper means always - on connections such as domestic broadband rather than expensive leased lines between sites.

What about Remote access VPN?

Remote access VPN also known as Virtual Private Dial up(VPDN) is used by banks who have staff regularly working in locations outside the office. You can connect into the office network over dial up phone/isdn lines or over broadband from anywhere.