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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.

January 16, 2017

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

BB

 

General News  

* Corelation Signs Five More CUs
* Sun East FCU Converts to Symitar`s Episys
* Source Technologies Launches 8-Series PTM
* Q2 Releases Q2 SMART

Credit union core processing vendor Corelation has signed five more credit unions to its KeyStone core processing family, bringing its total to 60 clients. The latest additions include: Coca Cola Credit Union in Atlanta; CommunityWide Credit Union in South Bend, IN; 5Point Credit Union in Nederland, TX; Central Willamette Community Credit Union in Albany, OR; and Streator Onized Credit Union in Streator, IL.

Jack Henry & Associates' Symitar division announced that Sun East Federal Credit Union has converted to the Symitar Episys core system for in-house processing. Aston, PA-based Sun East FCU had been with its previous core provider for nearly three decades, and has over $480 million in assets and serves the financial needs of almost 45,000 members and more than 1,000 SEGs.

Source Technologies announced the availability of its 8-Series Personal Teller Machine that resides in the branch and communicates with the teller platform to automate transactions. In addition to cash deposit and withdrawal, the Personal Teller Machine automates nearly all transactions historically handled by tellers, including official check issuance.

Q2 Holdings announced the availability of Q2 SMART, a targeting and messaging platform for credit unions. Q2 SMART utilizes machine learning and statistical analysis to identify behavioral “traits” that help CUs anticipate members` needs and engage account holders with better fitting product recommendations.

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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
* Fine Tuning: Six things you can do right now to improve your information security


Click Here for information, agenda, reservations & more.

 

 

 


Hardware News

The ThinkPad X1 Carbon Ultrabook laptop features a carbon-fiber reinforced chassis which makes it extremely durable. It comes with Windows 10 Pro, 7th generation Intel Core processors, and a 14" Quad-HD display. Business News Daily gave it an award at the recent Consumer Electronics Show for best business technology.

Flexxible|SMB Cloud, a new hyper-converged infrastructure appliance for small to midsize businesses, helps simplify the deployment, operations and support of virtual desktop infrastructure environments and applications. The company claims that their hyper-convergent turnkey appliance (servers, networks and storage) can be ready in a maximum of two hours. The appliance, which was developed using Citrix technology, can be used on premise or in the cloud. The device provides SDI and VDI infrastructure, applications, personal and shared storage functions and pre-configured applications like Office 365. 

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

 

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Software Updates

Thycotic`s Weak Password Finder provides a fast and easy way to identify the riskiest passwords among your Active Directory users. The complimentary tool can analyze any Active Directory account, including Domain Admin accounts, end user accounts, and service accounts. The application can be run on a single or multiple Domains and it uses more than 1.5 million common passwords from publicly available lists to determine “weak” passwords, and you can quickly add your own weak passwords in a text file.

The future of containers, which are used by developers to package applications, is bright in many analysts' estimations. For example, 451 Research projects a 40% compound annual growth rate (CAGR) for the container market to $2.6 billion by 2020. The research firm estimates that eight vendors are each earning more than $20 million a year from container revenue, and these include Docker, Red Hat and Engine Yard.

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ATMs/Kiosks

Globally, the share of ATMs located away from FI branches rose to 51% in 2015, according to RBR`s study Global ATM Market and Forecasts to 2021. The research firm concludes that "growth in the off-site ATM sector is being driven by banks` efforts to serve existing clients more cost-effectively, attract new customers and by the expansion of independent ATM deployers." IAD terminals now account for 16% of ATMs globally.

As cardless ATMs proliferate, some observers believe that fraud will escalate on these machines that permit accountholders to withdraw money by using just their mobile phones. For example, in an account takeover scenario, if the scammer has access to the online banking username and password, they can add a new mobile phone number and device. At that point they can extract cash from a cardless ATM since no card or PIN is involved in the withdrawal.

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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:  

AnyHour Solutions

AnyHour

and their client is:

Guadalupe 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

Mobile banking proponents contend that credit unions must constantly be updating their mobile banking platform's features and functionalities in an effort to make their platform provide as much functionality and their online banking system, or even what can be accomplished in the branch. A big question is how to prioritize the upgrades. Some experts suggest closely listening to members' wants and needs which can be accomplished by:

- member surveys

- gathering contact center data

- branch and employee feedback

- culling app reviews

- monitoring competition

Synaptics has unveiled a multi-factor biometric “fusion engine” that will offer users a variety of authentication methods across multiple platforms. Currently they support fingerprint and facial recognition - the two methods can be used concurrently for authentication of financial transactions or other sensitive tasks or individually for regular logins. Their authentication methods support smartphones, tablets and notebooks.

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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

Email reading habits, keywords, and demographic and psychographic information can all be tracked via hidden embedded trackers in emails which some people call spymail. Though many email trackers are used for legitimate purposes, malicious spymail is a growing concern. Case in point: MailControl notes that 40% of all email of its clients contains tracking code, and nearly 1% of that code is "high risk." MailControl's software detects a diverse array of email and spymail trackers and provides the company with insights about the email ecosystem. Scammers can use spymail to customize their phishing methods. Perhaps the easiest defense against spymail is to adjust the settings of your email program so there is no image rendering by default.

IRONSCALES announced a new server-side remediation feature to its automatic email phishing remediation product dubbed IronTraps. The company says that the new feature, available both on premise and for cloud-based email apps, will enable automatic remediation of ransomware, spear-phishing, whaling and other social engineering attacks before a malicious email can be engaged by unaware employees. They say that it uses machine learning to automatically detect and remediate suspicious emails within minutes before ever hitting the endpoint.

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Leaders Roundtable

Security:

Battling Security Fatigue – Working Towards Usable Security

 

 

 

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

Marketers are struggling to align their digital and physical campaigns according to a new report from the CMO Council and IBM. Their study revealed that:

- 42% of respondents plan to better integrate campaigns into a comprehensive, connected customer experience

- 37% of respondents will address connecting physical and digital experiences

- 29% of marketers intend to invest in more technologies to manage data

One of the biggest goals of those CMOs responding was to create an omni-channel experience for consumers where they can interact with them on a more personal, content-rich level.

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Online Banking/E-Commerce/Website Design

Javelin Strategy & Research's "P2P Market Sizing and Introduction of Real-Time Payments" report reveals that more than 1 in 3 U.S. consumers in 2016 made a P2P (person to person) payment either online or through a mobile device, demonstrating the broad appeal of these transfers. Javelin predicts this will reach 1 in 2 U.S. consumers by 2021, as 129 million people will have used a P2P service. To achieve almost 50% consumer adoption, Javelin sees several forces at play that will be catalysts for the P2P growth: voice-driven P2P services, higher usage of in-app payments and proximity payments, and greater availability of P2P.

AutoGravity has developed a smartphone-based app that they say streamlines the process of buying and financing a car from start to finish. First consumers can use AutoGravity to search, both locally and nationally, for vehicles by make and model, and then quickly compare loan and lease financing options. Then prospective buyers can scan their driver`s license and connect to LinkedIn for employment information as part of their mobile loan application process. The app can submit their info to up to four different lenders and even has an optional e-contracting module that financed buyers can use to scan the VIN, negotiate a firm purchase price, submit the information digitally to the lender, and obtain an e-contract.

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Internet Access

Sprint is expanding their Ethernet availability to reach businesses outside their TDM footprint - their goal is to provide Ethernet access services to more than 96% of their U.S. customers' locations by the first quarter of 2017. As part of the Ethernet service expansion, Sprint has increased the amount of IP MPLS nodes it operates in 2016 and 2017. The telco's Ethernet services are targeted at organizations that need 2 Mbps to 10 Mbps speeds. Sprint also will perform professional installation, while offering Business Class Service Level Agreements (SLAs), 24x7x365 monitoring and support, multiple classes of service, and access to the Sprint Compass Management Tool.

SD-WANs (software defined wide area networks) and hybrid WANs are often confused, but you can build a hybrid WAN without an SD-WAN, and you could build an SD-WAN that is a hybrid WAN. According to research and consulting firm SD-WAN Experts, SD-WANs speak about the overlay (a virtual abstraction of the underlying physical network) while hybrid WANs speak about the underlay. The SD-WAN Experts consultants note that hybrid WANs can combine a mix of data services - MPLS, Ethernet, 4G, IP VPNs, etc. - and that hybrid WANs are often no different that "regular" WANs because many WANs have backup or secondary Internet connections for redundancy.

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Call Centers

By some accounts, more people are using messenger apps (WhatsApp, Facebook Messenger, WeChat, Viber, etc.) than social networks. Perhaps that is why so many contact center experts believe that virtual assistants and chatbots are poised for mass adoption in 2017 and beyond. Some are convinced that these technologies, boosted by AI and machine learning, will proliferate across consumer and enterprise sectors, creating new workflows, operational efficiencies and opportunities for improved service.

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