The domain is managed by fTLD Registry Services, a private company specifically set up for the task, and owned, operated and governed by banks, insurance companies and their respective trade associations.

Having seen more than 700 applications for the new domains during an initial registration period, general availability was syncrhonised across the globe on 23 and 24 June.

“We are pleased to see so many financial institutions registering for .BANK - a move that clearly signifies the dedication and importance banks place on improving protections for their customers’ sensitive information from the growing threat of cyber attacks,” says Chris Feeney, president of FSR’s cybersecurity and technology policy division, Bits. “The .BANK online space has more than 30 enhanced security requirements that are specially designed to create a trusted, verified and more secure location for online banking business.”

Domains are awarded on a first-come first-serve basis. Security requirements include mandatory verification and re-verification of charters and licensures to ensure only legitimate banking community members are awarded fTLD has contracted with Symantec to verify the authenticity of organisations, and Architelos to monitor security in the community