August eNews
Why do we love Rhode Island businesses?
Because we’re a Rhode Island business too! Founded in 1800, Washington Trust is the largest independent bank in Rhode Island, so we understand what it takes to build a successful business here in the Ocean State. We’d like to help your company grow and succeed by partnering with you in our “I♥RI” campaign.
Reach Thousands of Potential Customers!
Washington Trust invites you to be a part of our “
I♥RI” campaign, which includes Washington Trust’s exclusive “
I♥RI” website,
www.iluvri.com. You will have opportunities to:
- Highlight your business in virtual “Business Spotlights” with photos & details about your business and links to your company’s website
- Post links to coupons & special offers from your business
- And much more!
Our “
I♥RI”
website will be advertised to thousands of Washington Trust customers in our branches, through our monthly eNewsletter, and at all of Washington Trust’s signature “
I♥RI” events throughout the state. It’s the perfect vehicle to tell thousands of potential customers about your business and best of all it’s
FREE to all Washington Trust business customers!
How Do I Sign Up?
Simply
click here for a form, fill it out and drop it off at your local branch, or email your form, along with your company’s logos and photos to clbirchell@washtrust.com. If you have any questions or need more information about Washington Trust’s “
I♥RI” campaign, please call Christy Birchell in our Marketing Department at 401-348-1334.
To prevent and combat potential security attacks, we recommend the following best practices.
Protect your PC and company network
- Install antivirus, anti-malware and/or anti-spyware software on your computer. Consider installation of a firewall and intrusion detection appliance and make sure it is active and monitored by educated employees or outsourced vendors. Consider the use of automatic updates by the vendor, or take necessary steps to keep it updated.
- Avoid accessing online banking from a public computer at a hotel, library, coffee house or other public wireless access point.
- Consider a dedicated computer for online banking that is never used for email or general internet browsing.
- If you are using a wireless network, be sure to secure it with the best available encryption protocol available on your wireless access point, i.e. WPA2. The other protocols that are available have documented security risks that should be considered before deploying. Also change all system default passwords that would allow a hacker access to the wireless access point.
- Implement network settings that lock employee computers after a period of inactivity. Ask employees to lock their computer anytime they leave their desk, even if it is for a short period of time.
- Restrict the ability to install software on your company computers; require installation by your technology department.
- Limit or eliminate unnecessary internet browsing and/or access of personal email activity and accounts on company-owned computers.
- Close all applications and browser windows before initiating online banking.
Protect your password
- Do not share user IDs, passwords, PIN numbers, or security tokens, with anyone.
- Do not write down your passwords or post them by your computer.
- Do not use the same password for multiple accounts or for different financial institutions.
- Avoid saving passwords on a computer.
- If an employee (user) leaves your company, immediately collect their security tokens and delete their online banking access.
Internal controls and education
- Educate all company personnel on good security practices, including social engineering threats. “Social engineering” occurs when your company’s online security is breached by a person, rather than through technology. For example, a person may pose as an employee of your company or another third-party, like Washington Trust, and ask for confidential information, such as log-in IDs, passwords, PIN numbers, or security tokens that would enable them to gain access to your accounts. This information should never be shared with anyone. We recommend that you educate your employees, at least annually or more often if practical, about security procedures. If you do not have anyone at your company qualified to provide security training, consider hiring an IT professional.
- Make sure you have dual control over high risk transactions such as ACH or wire transfers. Employees who are able to initiate a transaction should not have the authority to authorize the transaction.
- Consider establishing an email group for all online banking notifications. A review by more than one user can often catch errors or unauthorized activity.
Please contact Washington Trust for the following:
- If you notice any unusual changes on the website
- If you would like to disable the use of a online Cash Management service (i.e., Wires, ACH or EFTPS)
We hope you find this information helpful. We will continue to send you updated information to help you safe guard your business against potential threats. If you have questions, please contact us at 800-475-2265 or 401-348-1200 or click here
by
Joseph MarcAurele
Chairman, President, and Chief Executive Officer, The Washington Trust Company
Twenty-five years ago, I was at the beginning of my banking career. The local economy was expanding and property values were rising, particularly in commercial real estate. Manufacturers were still key players in our local economy, and there were many more banks and credit unions. It was the pre-consolidation era, particularly in the financial services industry.
Fast-forward a quarter-century and our manufacturing base has been replaced by healthcare, tourism, financial services, and education. We used to make things here. Now we are more focused on business-to-business services. It’s amazing how quickly things have changed.
Certain stories stand out across the 25 years:
- The RISDIC crisis, which changed the local banking environment in a way that had never been seen before.
- The emergence of Johnson & Wales University and how its Downcity and Harborside campuses have transformed Providence. Under John Bowen’s leadership, Johnson & Wales is an absolute success story. The school offers a varied and practical education that provides young people with the opportunity to get a job.
- Bank mergers and acquisitions in the 1990s, which transformed the face of local banking. Twenty-five years ago, I would have been hard-pressed to envision a financial landscape with no Fleet, no Hospital Trust, no Old Stone.
- The river relocation project in Providence. I can’t tell you how many people I talk to, particularly Brown graduates, who are stunned by how much more attractive the city looks than it did in the 60s and 70s.
When I think about the people who have made a difference for Rhode Island businesses, I cannot ignore the bankers – Terry Murray and my old boss, Larry Fish. Stanley Goldstein and Tom Ryan at CVS also come to mind, as do Alan Hassenfeld and Al Verrecchia at Hasbro. These individuals not only proved themselves to be industry leaders; they are great community leaders, as well, and have had a significant effect on many good things that have happened in Rhode Island.
So where are we headed? The challenges are all about increased competition. As hard as it is to believe, I think businesses today need to get even more efficiency and productivity out of whatever assets they have. It’s funny: I remember back when the futurists would talk about the influx of new technology and how, with so much automation at our fingertips, we were going to have more leisure time than we knew what to do with. I think exactly the opposite has occurred and we are in a position today where we have to do more with less. If you’re selling something, customers want to know how it makes them more efficient and productive. I think that’s something you absolutely have to pay attention to, no matter what industry you are in.
Right now, our state is at an inflection point. I think we need to show people that we can make progress on state and municipal deficits, and the pension liabilities that we all read about every day. That would go a long way to make people and businesses in this state feel more optimistic.
I am fortunate to have spent my whole life here – I love Rhode Island. As a native, I know how special this place is, especially the culture and the environment. And right now, we’re at a stage in the development of the state where we have an opportunity to go forward to build a more sound financial base and, by extension, improve the business climate and the standard of living for everyone who lives here. That’s an opportunity we don’t want to miss.
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Washington Trust offers our business customers a chance to promote their business with a free display in any of our branches and a banner ad on our website! Contact a Washington Trust representative today, or call 800-475-2265 for more information.
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Paul J. Tavares, of East Providence, R.I., has been appointed Vice President, Branch Manager, of the new East Providence branch. He will be responsible for establishing new customer and business relationships in the East Providence area. An East Providence native, Tavares most recently served as Executive Director of the East Providence Housing Authority. Tavares was elected General Treasurer for the State of Rhode Island in 1998 and served two consecutive terms, until 2006. He has a long history of community and public service in the City of East Providence, serving on the School Committee and City Council.
Washington Trust is excited to be opening a branch in East Providence, RI. The branch will be located at 587 Taunton Avenue, at the corner of Taunton and Pawtucket Avenues in East Providence. The 5,600 square-foot branch will offer state-of-the-art technology, security and convenience for its customers, including five walk-up teller positions, one of which is ADA compliant, two drive-up lanes, a drive-up ATM, night depository, safe deposit boxes and a walk-up ATM.
We look forward to meeting our new East Providence neighbors and providing the great service that is expected from Washington Trust.
The Washington Trust Company invites you to enjoy a fun-filled day at the acclaimed Roger Williams Park Zoo; a gem of Rhode Island. Find African elephants, giraffes, zebras, snow leopards, red pandas, moon bears, gibbons, penguins and much more in a beautiful park setting. From 11-3pm, meet the star mascots, participate in a scavenger hunt and enjoy one of the oldest zoo’s in the country.
Friends of the Washington Trust will receive:
$2 off adults and $1 off children for up to 4 people in a party. This special discount is only valid for general daytime Zoo admission on Monday August 22, 2011. Limit one discount per party. This discount cannot be combined with any other promotion or discount offer. Click here to print a coupon, then redeem the discount at the zoo. We look forward to seeing you there!
