Cote talks with Zane Rockenbaugh of Liquid Labs about selling software in the banking market. As Zane comments, the banks are quite conservative in their technology purchasing as their business model assures steady income and, thus, they avoid change. The need for change comes, however, largely from external demands such as regulations or new banks using technology (like online banking in the 90’s) to compete with existing banks.

After discussing the market for banking software, Zane tells us several methods of bank fraud that one of his company’s applications — Fraud Sweep — help banks detect. In doing so, he gives us a rare glimpse into the several ways that people try to defraud banks. Most interestingly, he comments, losses from straight up fraud with commercial accounts far out-weigh losses from identity theft.