ChoiceOne Bank Enhances Digital Security Moving to ".BANK" Domain

Rhea-AI Summary

ChoiceOne Financial Services, Inc. (NASDAQ: COFS) has enhanced its digital banking security by transitioning its website domain from choiceone.com to choiceone.bank on January 23, 2023. This move aims to reduce cyber threats by providing a more secure environment for customer interactions. The .bank domain offers visual authentication cues, ensuring that customers can easily verify the legitimacy of emails and websites, thus helping to prevent potential phishing attacks. ChoiceOne emphasizes customer security in every decision, aiming to deliver reliable digital banking services while prioritizing protection against identity theft and financial fraud.

Positive

• Transition to '.bank' domain enhances security against cyber threats.
• Visual authentication cues simplify customer verification of legitimate communications.
• Demonstrates commitment to customer security and advanced technology.

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• None.

SPARTA, Mich., Jan. 23, 2023 /PRNewswire/ -- ChoiceOne Financial Services, Inc., and ChoiceOne Bank (NASDAQ: COFS) ("ChoiceOne") are pleased to announce advancements in digital banking security. ChoiceOne will transition their website domain to "choiceone.bank" from "choiceone.com" on January 23. This change will provide another layer of enhanced security and verification requirements to reduce the risk of cyber threats and enable the Bank to provide a greater level of digital security.

"Customer security – both in personal and financial information – is always a top priority at ChoiceOne," said ChoiceOne CEO Kelly Potes. "With a reputation for providing industry-leading technology that supports our customers' needs for high-speed convenience, security is at the forefront of every decision we make. Transitioning our domain name to 'choiceone.bank' from 'choiceone.com' will provide additional security features giving our customers an even greater level of digital security today."

ChoiceOne email addresses and website URL will now end in '.bank'. Before interacting with ChoiceOne emails and before entering a username and password on ChoiceOne's website, customers can simply look for the '.bank' to authenticate the email and website. Choiceone.com email addresses will forward to the new choiceone.bank email addresses, and the '.com' website will redirect to the new '.bank' website. Customers will want to update their address books and bookmark for the site.

According to the American Bankers Association (ABA), banking has remained one of the most phished industries for more than a decade. Publicly available, unrestricted, and inexpensive domains (e.g., .com, .net) enable bad actors to easily obtain lookalike domains to execute business email compromises, phishing and spoofing attacks that lead to data breaches, identity theft, and financial fraud.

With the '.bank' visual authentication cue in place, consumers can quickly confirm emails and websites are real, and avoid interactions that could lead to identity theft and financial fraud. This authentication is also an additional layer of protection for internal and vendor communications, helping to further secure against potential breaches.

The '.bank' domain is a gated domain, like .gov or .edu, and is exclusive for verified banks. A '.com' domain can be purchased by anyone, whereas the '.bank' domain is quickly verified that the website or email is authentically from ChoiceOne Bank. Customers and consumers can interact with confidence when they see the '.bank' at the end of the Bank's email address and website URL.

All banks using '.bank' are verified and authenticated by fTLD Registry Services, LLC, the '.bank' administrator. This ensures everyone using a '.bank' domain is an eligible organization. Hackers and bad actors cannot get a '.bank' domain to create lookalike domains for phishing and spoofing, as they can in a '.com' and other publicly available domains.

"Our customers rely on our digital banking platforms including mobile banking, mobile deposits, online banking, online loan applications, online account openings and our digital mobile savings tool," said Potes. "The move to a '.bank' domain is a business decision every bank must make, and plan for, based on its own priorities and resources. At ChoiceOne, it is a priority for us to enhance our security and provide our customers with an easy way to authenticate our email communications and website so we made the move to choiceone.bank."

See https://www.choiceone.com/dotbank/ for more information on the benefits of a '.bank' website domain.

About ChoiceOne 
ChoiceOne Financial Services, Inc. is a financial holding company headquartered in Sparta, Michigan and the parent corporation of ChoiceOne Bank. Member FDIC. ChoiceOne Bank, named one of America's Best Banks by Newsweek for three consecutive years, operates 35 offices in parts of Kent, Ottawa, Muskegon, Newaygo, Lapeer, St. Clair and Macomb counties.  ChoiceOne is an approximately $2.4 billion-asset bank holding company making it the 10^th largest bank holding company in Michigan based on asset size. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. common stock is quoted on the Nasdaq Capital Market under the symbol "COFS." For more information, please visit Investor Relations at ChoiceOne's website choiceone.com.

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SOURCE ChoiceOne Financial Services, Inc.

FAQ

What is the significance of ChoiceOne Financial Services moving to a .bank domain?

The move to a .bank domain enhances digital security, providing visual cues for easier verification of legitimate emails and websites.

When did ChoiceOne Financial Services change its website domain?

ChoiceOne changed its website domain from choiceone.com to choiceone.bank on January 23, 2023.

How does the .bank domain increase security for ChoiceOne customers?

The .bank domain is gated and exclusive for verified banks, reducing risks of phishing and spoofing attacks, thus increasing customer protection.

What is the impact of the domain change on former ChoiceOne email addresses?

Former choiceone.com email addresses will forward to the new choiceone.bank addresses, ensuring continuity for customer communications.

Is ChoiceOne Financial Services listed on a stock exchange?

Yes, ChoiceOne Financial Services, Inc. is quoted on the Nasdaq Capital Market under the symbol COFS.