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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 27, 2017

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

BB

 

General News  

* VA Desert Pacific FCU Selects Symitar EASE
* Sharetec Rolls Out New Support Tool
* Fiserv Updates LoanServ
* CU*Answers Enhances CU*BASE

Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced that their Symitar division has signed VA Desert Pacific Federal Credit Union to use their Symitar EASE solution which is the outsourced delivery model of the Episys core processing platform. They said that VA Desert Pacific FCU is a $70 million-asset institution based in Long Beach, CA that wanted a core partner with more functionality than its previous provider was able to offer.

Sharetec, a leading provider of both in-house and service bureau core solutions, announced the implementation of new software that provides 50% faster service to its clients. After the implementation of the new software, Sharetec says that their clients are now receiving responses within four minutes from the time an issue is first submitted.

Fiserv, a leading global provider of financial services technology solutions, has enhanced their LoanServ platform. Enhancements to LoanServ, an online, real time solution, include the introduction of Loan Boarding, improved loss mitigation management and adherence to Fannie Mae investor reporting requirements.

West-Michigan-based CU*Answers officially implemented a brand-new navigation system for its CU*BASE core processing system. The new CU*BASE home page includes built-in search tools, sort and filter features, and a favorites function that lets each user personalize his or her experience using the software.

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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

3D XPoint is an Intel/Micron memory solution that can be used either as storage or memory. The NVMe DC P4800X marks Intel's 3D XPoint-powered Optane SSD (solid state drive) debut. It comes to market as a 375GB AIC (Add-In Card), but they will add 750GB and 1.5TB capacity points in both AIC and U.2 form factors. Unlike NAND, 3D XPoint is a write-in-place memory, so the SSD controller doesn't have to erase existing data before writing new data. Eliminating the extra write cycle increases endurance and performance. For an extra charge, Intel also offers its Memory Drive Technology which is software that merges the DC P4800X into the memory subsystem so that it appears as part of a single large pool of memory to the host - all without requiring any changes to the existing operating system or applications.

The next major evolution in display technology is high-dynamic range (HDR) displays is coming to the PC this month. LG's 4K HDR monitor is coming to market at less than $1000. The 32UD99`s highlight features include 3840-by-2160 (4K) resolution and support for the HDR 10 standard. There`s also a USB Type-C port that can simultaneously display a 4K image, charge a laptop, and transfer data. The rear of the display has two HDMI ports, a DisplayPort, and two standard USB 3.0 ports in addition to the Type-C outlet. 

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

 

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Software Updates

DBAN is a hard drive eraser and data clearing utility that comes in a complimentary basic version and paid version. While DBAN is free to use, there`s no guarantee of data removal. It cannot detect or erase SSDs and does not provide a certificate of data removal for auditing purposes or regulatory compliance. The Blancco version is the business version that runs $15. However if the machine is running Windows 10, its Format command comes with a special parameter that essentially wipes a hard disk, although it does not meet any of the United States Department of Defense stringent standards for hard disk data removal.

Synechron announced the launch of “Neo” which is a set of Artificial Intelligence (AI) based solutions for the financial services industry. Their 14 new “accelerators” focus on different project areas, such as Automated Financial Advice Generation, Client Onboarding, and Customer Insights. The company says that their suite uses AI technologies like machine learning, robo-advisors, and chatbots, which are particularly suited to customer engagement or KYC needs.

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ATMs/Kiosks

At the recent ATMIA US conference there was quite a bit of discussion of "NextGen" ATM networks. While there are many versions of what these networks will look like, many in attendance pointed to these technologies as being part of them:

- cloud-connected where the payments solution is provided on a platform-as-a-service basis

- flexible with a wide range of APIs available

- thin, easily manageable clients on the ATM

- a code base architected to support "micro services" that are reusable for various features and functionalities

Ink staining has been used as a criminal deterrent for many years, but the problem with them has been that they do not work in an explosive attack because the ink-staining system is destroyed before there is time to activate the ink. TMD Security has come up with their NSK solution that they claim is unique because their ink canisters fracture instantly on explosive impact staining 100 percent of the notes — whether cotton- or polymer-based. Plus the company says that their NSK shockwave technology does not rely on detection, so there is virtually no risk of false activations.

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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:  

ARCA

ARCA

and their client is:

Y-12 Federal 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

Roughly three-quarters of Americans (77%) now own a smartphone, with lower-income Americans and those ages 50 and older exhibiting a sharp uptick in ownership over the past year, according a Pew Research Center survey. As for mobile wallets, a PYMNTS/InfoScout survey found that 21% of respondents had tried Apple Pay, 14% Samsung Pay, 14% Walmart Pay, and 9% Android Pay. Here are the reasons that respondents gave for not using mobile wallets:

  • 22%: I didn`t want to use mobile pay for this transaction
  • 18%: I paid with/wanted to use cash
  • 15%: I`m not yet comfortable with how to use it
  • 10%: I get rewards or points for using a different payment method
  • 10%: I forgot how to use it

In a related story, a new survey report from Auriemma Consulting Group found that mobile wallet users are looking for incentives. Auriemma states that because when incentives are offered, 86% of consumers take them at checkout or via the mobile app in use. “Incentives can give consumers the push they need to use mobile pay,” says Jaclyn Holmes, director of Auriemma Consulting Group`s Payment Insights. “Their greatest impact will be on consumers on the cusp of using the method, but who need an additional nudge.”

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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

The new Hearsay compliance platform applies predictive technology to help reduce false alerts and help compliance teams focus on activities that pose the highest risk, while increasing security coverage and control. It includes the Risk Meter, a social media compliance technology that uses machine learning to prioritize highest-risk offences for supervision teams. They say that their Intelligent Alert system can catch violations based not just on prohibited words (lexicon), but other, more nuanced data, such as whether similar activities in the past were considered true alerts, thus reducing the amount of false alerts. The Risk Meter's algorithms are trained on regulatory requirements as well as an organization's own policies, so that the tool can focus on what is most important to monitor and intercept for the organization.

Security information and event management (SIEM) software products and services combine security information management (SIM) and security event management (SEM) to provide real-time analysis of security alerts generated by network hardware and applications. Many security experts believe that there is a need for better SIEM automation and management of people and systems because many systems' rules can't keep up with attackers. As with many applications, machine learning and analytics are a top priority in the next wave of SIEM platforms. Other trends include the growth of open-source big data technology and vendors focused on automated playbooks and incident response.

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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

Some social media experts contend that social media should not be viewed as a marketing tool per se, in other words as its name implies, it is all about being social, not about traditional advertising. It is not a sales tool, but about promoting the good things that the credit union is doing for their members and the community. The goal should be to incorporate input from employees, local media, bloggers, board members, etc. to help get the word out about the credit union and the credit union movement in general.

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Online Banking/E-Commerce/Website Design

Fiserv just announced its new SDK for ACH business payments. The product, which will score every transaction for risk, currently focuses on ACH payments, not real time payments. Up next are debit card payments and subscriptions, with real time and P2P coming along afterwards. Initially, Fiserv will focus on direct-to-business marketing rather than working through financial institutions.

ISO 20022 is a financial-messaging standard that supports the end-to-end flow of payment information from the originator to the beneficiary that is currently used by Visa and The Clearing House Payments Co. The Federal Reserve Banks are encouraging more payments players to use the standard due to the fact that ISO 20022 payment messages support rich payment data and have discrete fields to carry specific data elements. It uses XML (extensible markup language) and its messages can be 10 to 50 times as large as typical credit/debit card or ACH messages.

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Internet Access

Kaspersky Lab experts have studied the DDoS services available on the black market and found ‘service providers` that offer a convenient site where customers, after registering, can select the service they need, pay for it, and receive a report about the attacks. They found the following information and discovered these trends:

  • Arranging a DDoS attack can cost as little as $7 an hour (profiting around $18 an hour) and on average $25 per hour
  • Cost typically depends on the length of the attack - anywhere from $5 for a 300-second attack to $400 for a 24-hour attack
  • A big factor affecting the cost is the type of victim. Attacks on government websites and resources protected by dedicated anti-DDoS solutions are much more expensive, as the former are high risk, while the latter are more difficult to attack.

FatPipe Networks, a provider of software-defined networks (SDN), announced its next gen SD-WAN platform, version 9, which is designed to further simplify the management of a wide area network in an SD-WAN world and provide load balancing for Layer 2 and Layer 3 networks, eliminating the need for complex routers. New auto-configuration functionality helps reduce the complexity of configuring multiple appliances; MPSec, VPN and policy routing rules are propagated to remote/branch devices automatically from a central location, in addition to improved support for legacy routing protocols by adding BGP & OSPF support into the platform. They say that their ‘branch in a box` SD-WAN product combines all aspects of a branch`s requirements, such as multi-line load balancing, firewall, VPN, QoS, local Smart DNS and other features to implement a single solution at a branch.

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Call Centers

SMS as a communication channel is growing in contact centers in all types of industries. Texting proponents contend that the medium offers an opportunity to fix something virtually immediately and that immediate remediation comes with an ancillary benefit: the reduction of negative online feedback. Providing fast assistance helps prevent negative reviews which in turn can help increase the number of positive and neutral reviews on social media.

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