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 Your source for the latest technology information of interest to credit unions across America.

Subscribe to our weekly e-mail newsletter and/or our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.

April 10, 2017

~ This Week's News is Sponsored by Better Branches ~

BB

 

General News  

* Corelation Signs 3 CUs
* University CU Signs 10-Year Renewal Agreement with Synergent
* VASCO Introduces eSignLive Cloud-Based Mortgage Solution
* City & County CU Selects CU Student Choice

Credit union core processing vendor Corelation has signed three more credit unions to its KeyStone core processing family in the first quarter of 2017, bringing its total to 63 clients signed and 46 live. Their latest additions include: Long Beach City Employees FCU ($301 million; 9,093 members; Signal Hill, CA); Blue Eagle CU ($145 million; 14,921 members; Roanoke, VA); and Brazos Valley Schools CU ($687 million; 49,904 members; Katy, TX).

Synergent announced that University Credit Union has signed a 10-year renewal agreement for the Episys Core Processing Solution with Synergent Technology Services. University Credit Union also has renewed their agreement for additional Synergent services, including share draft and ECC processing, and card services. Based in Orono, ME, University Credit Union has $276 million in assets and 27,974 members.

VASCO Data Security International announced the availability of the eSignLive Digital Mortgage Solution, an eMortgage solution available in the cloud. The components of the solution include e-signatures, e-Delivery, e-Closing and e-Vaulting and can be used as a comprehensive suite or as standalone applications to help ensure regulatory compliance.

City & County Credit Union has selected CU Student Choice to provide it with both private student loans and consolidation programs. The Minnesota-based credit union said its student loans feature zero origination and repayment fees, flexible repayment options and affordable, low-rates.

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Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

 

15th annual CU InfoSecurity Conference will be held June 14 - 16 in San Diego.

This Conference provides an excellent, cost effective way to show Regulators that your CU is serious about Information Security and that your staff is getting training on how it can protect itself against constantly changing techniques and threats.

This is a one-of-a-kind conference - a security conference dedicated solely to credit unions. Highly experienced, expert speakers discuss the latest security trends as they specifically apply to credit unions. Also included are three CU speakers from Logix FCU, Golden 1 CU, and San Diego County CU. The CU InfoSecurity Conference is the best conference value in the credit union movement: just $495 per attendee and $395 for returning attendees. Topics include:


* HoneyNets
* Ransomware
* USB Security
* Secure Workflows
* CyberCrime Trends
* Why You Need a WAF
* Data Leak Prevention
* Cybersecurity Assessments
* Working with Law Enforcement
* Blockchain Security Explained
* Next-Gen IT Security Risk Assessments
* Fear Your On Premise Security, Not the Cloud
* Is Your Credit Union’s IT Insecure by Design
* Multiple Biometric Authentication Technologies
* How to Build a Real-Time Insider Threat Program


Click Here for information, agenda, reservations & more.

 

 

 


Hardware News

The Unitrends Recovery Series v9.3 appliances include new enhancements: Ransomware Detection, Self-Service for application owners and Distributed Enterprise Manager. The appliances recognize and alert administrators of abnormal data change rates. These all-in-one backup appliances are written in hardened-Linux and include automatic trial recoveries that help discover issues and help ensure files, settings, applications and data are available for instant emergency launches.

March Networks announced its new 9000 Series IP Recorders are available in 32, 48 and 64-channel models. The recorders support high-megapixel, high-throughput video capture, and run a customized embedded Linux OS, which eliminates unnecessary background services and frequent system updates. Other features include diagnostic LEDs for each hard-drive, internal battery backup, and real-time system health monitoring. 

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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)

 

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Software Updates

Paragon Protect and Restore VM Copy Tool is a handy ad-hoc backup and migration tool for vSphere. The complimentary software fully encapsulates the target VM, including its current state, all available snapshots, and connected external devices. It still does the job even if you don`t use clusters or shared storage and your VMware license doesn`t allow utilizing vMotion technology. To help minimize network traffic and the target storage requirements, contents of the target machine are double compressed during the process: when creating data streams and then by archiving these streams into a .zip file. To avoid unauthorized access, all VM files are not exported as they are, but as a set of secured data containers with GUID names.

ManageEngine announced the addition of two-factor authentication (2FA) support in ADManager Plus, its Active Directory (AD) management and reporting solution. The company also announced the addition of user provisioning in the ADManager Plus iOS app. The addition of 2FA support establishes an extra layer of security around ADManager Plus logins while user provisioning support makes the iOS app a complete user life cycle management tool for on-the-go AD admins. ADManager Plus offers the flexibility of using Duo Security, Google Authenticator or a one-time password via email to provide the second factor for authentication.

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ATMs/Kiosks

Diebold Nixdorf has introduced the 'Essence' of future ATMs. Taking a que from what smartphone users are accustomed to, it supports swipe, scroll and smart zoom. The Essence Concept features:

- Clean design: A seamless profile, antimicrobial glass touchscreen display.

- Increased security: In addition to the encrypted touchscreen PIN entry and NFC authentication option, the magnetic stripe card reader found on traditional ATMs has been replaced with an EMV chip card reader.

- Customization: An array of customizable colors and designs and electronic receipt capabilities.

- Miniaturized footprint: The design eliminates the traditional magnetic stripe card reader, receipt printer and PIN pad.

The IFX Forum announced that it has published Version 1.9.1 of the IFX specification which accommodates changes in ATM processing. Release 1.9.1 includes two new features. The first introduces functionality for remote key loading compliant with the requirements recently introduced by the PCI Security Standards Council, which are to be rolled out in 2017. The second feature provides new mechanisms to support dynamic currency conversion, which provides the user of an ATM with information about the cost of a currency conversion in advance of the transaction, so that the user can choose to complete or abandon the transaction.

ABC Currency Solutions, in partnership with KICTeam, announced the completion of a five month field test cleaning program for ATMs. The testing was conducted with field techs on targeted devices over the holidays and winter months to capitalize on high device usage and extreme weather conditions. Results demonstrated that regular cleaning of deposit automation modules and card readers showed a 35% reduction in corrective action service calls and a significant improvement in ATM uptime.

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ATMs/Kiosks Sponsored by
Heritage Industries


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CU Success Stories  

 

Here is a chance to learn about real life credit union success stories from various technology vendors through the words of their clients. This week's vendor is:  

Enhanced Software Products (ESP)

ESP

and their client is:

Connection Credit Union

Credit Unions - if you have a vendor that you are happy with then please This email address is being protected from spambots. You need JavaScript enabled to view it.!

Vendors - if you have a credit union that is happy with your solutions then please This email address is being protected from spambots. You need JavaScript enabled to view it. and we will give you a $100 discount on your Case Study!

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Wireless World

Only 8% of consumers were able to open an account of any kind entirely in the mobile channel, according to a recent Javelin consumer survey. In an effort to boost their mobile onboarding numbers, BMO partnered with GMC Software to develop a workflow that would allow a consumer to open an account on a smartphone in eight minutes from start to finish. The solution uses mobile-optimized digital forms and sends the completed app to a private cloud. Once the process is completed, it automatically signs them up for online banking and sends them a debit card - there is never any face to face interactions needed.

According to a recent report from Mercator Advisory Group, 30% adults would feel comfortable using a voice-activated conversational interface provided by their FI to pay a bill or make other banking transactions by speaking to this interface and providing verbal instructions. After surveying 3,000 U.S. adults with banking relationships, Mercator found that young adults and high-income earners are especially interested in using such an interface.

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Wireless World Sponsored by
Member Access Pacific (MAP)

MAP

 

The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
contact us now to learn more about this market-leading innovation for credit unions:

(866) 598 - 0698

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Security Section

More than 15 million people were affected by identity fraud in the U.S. last year, according to a recent study by Javelin Strategy & Research. Other disturbing findings include:

- The amount fraudsters took increased by nearly one billion dollars, totaling about $16 billion

- Identity fraud incidence rate increased by 16%, a record high since the company began tracking identity fraud in 2003

- Scammers added two million more victims last year, compared to 2015

- There was a 40 percent in card-not-present (CNP) fraud

CounterTack, an Endpoint Threat Platform (ETP) provider, announced the availability of its data loss prevention (DLP) technology. The company says that the new DLP capabilities give them the ability to extend contextual endpoint detection and response (EDR) capabilities to identify sensitive data paths, and to actively inspect content whether at-rest or in motion. They add that behavioral analysis at the core gives their approach a new twist in identifying sensitive data and minimizing data loss beyond threat detection.

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Leaders Roundtable

Security:

Battling Security Fatigue – Working Towards Usable Security

 

 

Easy Solutions - http://www.easysol.net
Read Josh Schleicher's comments:
https://www.cunews.com/EasySolutions.pdf

 

 

 

Onbase by Hyland Software - https://www.onbase.com
Read Steve Comer's comments:
https://www.cunews.com/OnBase.pdf

 

Millennial Vision - http://www.mviusa.com
Read Scott Cowan's comments:
https://www.cunews.com/MVi.pdf

 

NetWatcher - http://www.netwatcher.com
Read Scott B. Suhy's comments:
https://www.cunews.com/NetWatcher.pdf

 

MVi
Nintex - https://www.nintex.com
Read Mike Fitzmaurice's comments:
https://www.cunews.com/Nintex.pdf

 

Network Bix USA
 
Network Box - https://www.networkboxusa.com  
Read Pierluigi Stella's comments:

 

Pure IT Credit Union Services - http://pureitcuso.com
Read Kyle Stutzman's comments:
https://www.cunews.com/PureITCUSO.pdf

 

Security Compliance Associates - http://www.scasecurity.com
Read Jim Brahm's comments:
https://www.cunews.com/SCA.pdf

 

SentinelOne - https://www.sentinelone.com
Read Jeremiah Grossman's comments:
https://www.cunews.com/Sentinelone.pdf

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Technology and Marketing

Neener Analytics provides regulatory compliant social media analytics that deliver specific individual risk outcomes for thin-file, no-file, and credit-challenged consumers. The firm claims that from a single social media profile, they can not only predict or project a correlated Fico score with an accuracy of almost 80%, but also likelihood of default, risk attitude, patience/impatience, and veracity. The platform uses social media to help decision people based on the content of their character.

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Online Banking/E-Commerce/Website Design

A survey of 430 financial institutions in the Western United States conducted by WesPay, the trade association for electronic payments compliance and operational sound practices, found awareness and adoption of faster payments solutions among its members remains low. For Same Day ACH, a majority (57%) of respondents indicated that the September 2016 implementation of faster credits “has had no measurable impact on our customers/members` transactions.” When asked about the Federal Reserve Faster Payment Task Force, 34% indicated they were unaware of the initiative and 46% indicated that they had only high-level knowledge. Meanwhile, a significant majority (60%) of respondents replied that faster payments initiatives are “an important development in the industry, however, our institution will be watching to see which platform becomes the standard.”

A recent report by BI Intelligence suggests that chatbots could save billions in salary expenditures for FIs in the future. The note that improvements in AI (artificial intelligence) have enabled chatbot makers to create more effective automated responses. They also point out that while chat is a popular online activity, chatbots are particularly well suited for mobile interactions and can lend themselves to voice control.

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Internet Access

The top four vendors in the collaboration market are Cisco, Microsoft, IBM and Avaya, according new Q4 data from Synergy Research Group. The firm added that other major players in the market include AT&T, Verizon, Citrix, Polycom, Mitel, UNIFY and ALE. Total revenues from collaboration - which includes enterprise voice, UC applications, telepresence, email software, enterprise content management, enterprise social networks and a range of hosted/cloud communications and applications - again topped the $9 billion mark and were close to their all-time high.

Silver Peak`s new Unity EdgeConnect SD-WAN solution attempts to bring the concept of the “thin branch” to life. It comes with a new feature dubbed First-packet iQ that inspects the first packet and then automatically sends the traffic internally to the data center or externally to the Internet. The appliance includes SD-WAN, WAN optimization, a stateful firewall and BGP routing.

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Call Centers

Some contact center experts recommend that call scoring evaluation forms shouldn`t take longer to score than the call and that the form consist of about 10 and 20 questions. Deciding what to measure can be tricky, but inContact, a NICE company, has come up with a modified version of SMART:

S – Strategic: does it matter, or need improvement?

M – Measurable: is it quantifiable?

A – Aligned: is it aligned with corporate goals?

R – Results-based: will it drive the behavior?

T – Timely: is this still important?

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