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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.

March 20, 2017

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

BB

 

General News  

* Share One Records 14 Contract Renewals
* CU*Answers Partners with Zoom
* PSCU and MD|DC Credit Union Association Partner
* Merrimack Valley FCU Selects LendingQB

Share One, a leading developer of credit union core processing software serving a client base of credit unions with assets ranging from $10 million to $1.8 billion, announced fourteen contract renewals for their core processing system, NewSolutions, over the past fourteen months. Those credit unions are: Aurora CU; Bradken CU; Buckeye State CU; Core CU; Eglin FCU; Excel FCU; Greater Springfield CU; Jefferson County FCU; New Haven County CU; Northwoods Community CU; Rio Grande FCU; Shelby County FCU; Northern Communities; and United Catholics.

CU*Answers has successfully kicked off its 2017 Presence Over Video efforts, which aims to launch a video culture at the CUSO. To achieve this goal, CU*Answers has partnered with Zoom, the cloud based software video solutions provider.

PSCU, the nation¹s leading CUSO, and the MD|DC Credit Union Association, announced an agreement for credit, debit and bill payment processing services, as well as 24/7/365 contact center support for the 133 credit unions in Maryland and the District of Columbia and the 2.1 million members the Association serves. The agreement with MD|DC CUA represents the sixth partnership PSCU has forged with credit union leagues and associations, which now include the Credit Union Association of New Mexico, Cooperative Credit Union Association, the Credit Union League of Connecticut, the Pennsylvania Credit Union Association and the Indiana Credit Union League.

Merrimack Valley Federal Credit Union, which is based in Lawrence, MA, has selected LendingQB`s cloud-based loan origination solution (LOS) to help streamline mortgage operations. Merrimack Valley FCU also uses MeridianLink, LendingQB`s parent company, for account opening.

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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

In a move that could pose a potential challenge to Intel's dominance of the server market, Microsoft has been testing its Windows Server OS on ARM-based servers made by Qualcomm and Cavium. While more than nine out of 10 of the world's smartphones run on ARM-based processors, they have failed to make a significant impact on the datacenter market despite ARM-based servers being available for more than five years. A Microsoft spokesperson noted that "the high Instruction per Cycle (IPC) counts, high core and thread counts, the connectivity options and the integration that we see across the ARM ecosystem are very exciting and continue to improve." No word on if the software giant will be making a version of Windows Server that runs on ARM-based processors available externally.

ioSafe claims that their new ioSafe Server 5 is the industry`s first fire and waterproof server designed to eliminate data loss and minimize downtime by protecting data in real time and delivering instant disaster recovery with zero recovery point. The Server 5 protects data from fire up to 1550°F for 30 minutes and from floods up to a 10- foot depth for 3 days. Designed to run either Windows Server 2012 or Linux and equipped with an Intel Xeon processor, 16 - 128GB of DDR4 RAM, dual 10 Gigabit Ethernet adapters for increased bandwidth and automatic failover and capacities between 5 - 40TB, Server 5 replicates data either to the ioSafe Cloud, a secondary location or device, or a third-party service. 

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

 

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Software Updates

Larger credit unions can afford Single Sign On (SSO) platforms that come with technical support, maintenance, reporting, Active Directory integration, etc., but smaller credit unions may not be able to afford such solutions. For them, a free option might be better than not having any method for identity management. LastPass is one option that offers a way to remember passwords for many sites, and is well suited for smaller organizations that can't setup true SSO.

Preempt Inspector, a complimentary tool, combines password hashes from major breaches with a dictionary of compromised credentials and weak passwords to assess an organization`s password health and provide recommendations to reduce credential-based attacks. Preempt notes that employees routinely place enterprise security at risk by using passwords which are remarkably similar to those in their personal accounts, such as social media, banking, or other memberships. They point out that scammers know this, and often use that as an opportunity to try to decipher passwords for their other accounts. They say that Preempt Inspector helps ensure your credit union isn`t at risk because of another company`s breach.

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ATMs/Kiosks

According to a new report from ATM Marketplace and software provider Auriga, ATM users are looking for more functionality from their ATMs. The survey of more than 1,000 ATM end-users in the United States and the United Kingdom found that 63% of respondents used one ATM at least monthly. Here is what they are looking for in their ATM experience:

- 70% cash in denominations other than just $20 bills

- 39% real time transactions

- 34% biometric identification to replace PINs

- 32% check cashing

RBR`s new study, “Teller Automation and Branch Transformation 2017,” has found that the number of teller assist units (TAUs) deployed across 26 key markets reached 186,500 at the end of 2016 – despite increased cost pressures and falling branch numbers in many established markets, this still represented a modest increase on the previous year. Furthermore, RBR forecasts the number of TAUs deployed globally will continue to rise for at least the next five years. Daniel Dawson, who led RBR`s study, commented: “Banks continue to value the importance of teller assist units when formulating their branch transformation strategies, as such machines, particularly recyclers, prove to be hugely successful in improving overall efficiency when dealing with cash handling in branches”.

KioCall is a new video conferencing product specifically for use on kiosks running KioWare for Windows & KioWare for Android. With the addition of the KioCall video conferencing app, you can now configure your kiosk deployment to include a call button, setting the kiosk to call a preset destination (kiosk or PC). The software allows you to set a custom start page, attract screen, and allowed/restricted list to start, with hundreds of other options, functions, and capabilities for more complex deployments.

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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:  

Better Branches

Better Branches

and their client is:

Credit Union of Colorado

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

Most people think of apps as consumer facing, but IBM's MobileFirst for iOS app suite is designed specifically for FI employees in different sectors such as retail, corporate, private, etc. Big Blue partnered with Apple to develop the suite. Currently Santander is rolling out two IBM-backed iOS apps for the back office: Achievement Overview and Easy Risk. The Achievement Overview app is designed to help managers track their employees' cross- and up-selling efforts, while Easy Risk will permit managers to access risk policies and industry trends and reports.

The Contactless Companion Platform will launch its official pilot in countries across North America, Europe and Africa next month. The CCP is built on the premise that Near Field Communication technology for contactless payments could be used to treat wearables as stored-value containers managed by an app. The platform would provide access to a small amount of money and for a limited time period. They note that with CCP in place, you can make contactless payments via any enabled device of your choice, whether it is a smart card, wristband, key fob, watch or smart ring. It supports both Apple and Android smartphones, and can be deactivated if the wearable is lost.

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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

1E`s Tachyon platform allows IT Departments to interact live with each of their endpoints as if they were at every device, and schedule instructions to enable automation. The company claims that Tachyon is the fastest and most scalable Endpoint Detection and Response (EDR) platform, enabling IT teams to interact with as many endpoints as needed, running multiple operating systems. It features a library of instructions that can be directed to endpoints to ask questions and take actions.

Pwnie Express is adding a Device Risk Scorecard to their Pulse service that assesses potential vulnerabilities that its sensors detect in customers` networks and issues a grade in each of four categories. This Device Risk Scorecard points out problems, prioritizes them by urgency and tells how to fix them. The scorecard looks at input from wired and wireless devices, including Bluetooth. It will also point out which section of the SANS Common Criteria, NIST, Sarbanes-Oxley, PCI and HIPAA requirements are violated.

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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

Google believes that marketers must have a strategy for understanding and meeting consumers' needs in so-called "micro-moments." Micro-moments occur when people reflexively turn to a device — increasingly a smartphone — to act on a need to learn something, do something, discover something, watch something, or buy something. For example, credit unions might use micro-moments to extend mortgage-related offers to members whose digital trail reveals they have been on real estate websites or viewing and making home improvement posts.

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Online Banking/E-Commerce/Website Design

Google announced the ability for users to pay each other from their Android Gmail apps which some people see as a threat to PayPal. However, Google's previous payment initiatives, such as its “Hands Free” payment initiative, did not even come close to duplicating PayPal`s success on any level: adoption (nearly 200 million active customer accounts), transaction volume, or brand loyalty. Yet some observers think that Google Wallet may be able to take on PayPal/Venmo, Square, Zelle, and et. al., particularly due to the fact that they more than 1 billion Gmail users which should help with adoption of their P2P offering and Wallet.

According to Javelin Strategy & Research's recent "Navigating Prepaid Card Waters: Finding Opportunities in a Sea of Challenges" report, the notion that prepaid cardholders generally have only prepaid cards or fewer payment alternatives is a myth. More than nine in 10 prepaid cardholders have an alternative card type (debit or credit) at their disposal. Almost three-quarters (73%) of prepaid card owners have both a debit and a credit card, leaving 7% who only own a prepaid card. The study also found that in general, men have significantly higher levels of prepaid card ownership than women especially among Millennials. However, Michael Moeser, Javelin's Director of Payments, notes that "the ease of customer acquisition has created a product with high customer churn and low issuer loyalty: Prepaid card lifespans are often measured in months, compared to credit cards and bank accounts, which are measured in years."

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Internet Access

TLS/SSL inspection solutions sit between clients and servers and intercept all encrypted traffic going in and out of the network, decrypt the traffic, inspect the contents, re-encrypt the traffic, and forward the stream to the intended destination. These tools, from vendors like Blue Coat, Cisco, Arbor Networks, Check Point, Symantec, F5 Networks, Fortinet, and many others, allow IT Departments to inspect what may be hiding within legitimate traffic. However CERT is warning that many of these inspection products frequently make poor security decisions, such as improperly verifying the server's certificate chain before re-encrypting and forwarding traffic, so clients don't know if they connected to the legitimate server. Some security experts recommend these two steps to help minimize these potential issues:

- contact the vendors of SSL inspection software to have them confirm the proper configuration options and behaviors

- use badssl.com to verify whether the HTTPS inspection products are properly verifying certificate chains

Video conferencing proponents contend that it doesn`t have to be expensive - there are entry-level options as well as expensive premium options. Small to mid-sized credit unions many want to look at using tools such as Join.me, Fuze, Skype and Adobe Connect. Advantages of video conferencing include improved communication between teams and management; faster decision making; and reduced travel costs.

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Call Centers

Capital One is piloting a natural language SMS chatbot that uses artificial intelligence to respond to customer questions on account balances, recent transactions, card bill due dates, credit limits, routing numbers, etc. However, what makes it unique is that it even supports emojis, e.g., customers can use an emoji such as a bag of money to obtain a quick summary of their accounts. Meanwhile Eva (Electronic Virtual Assistant) is a successful bot launched by India's HDFC Bank - they claim that Eva can answer millions of questions across multiple channels.

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