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Symitar, a division of Jack Henry & Associates Inc., has successfully converted the $1.56 billion Kern Schools Federal Credit Union of Bakersfield, CA, to its Episys core platform. The CU noted that they will be using the Episys PowerOn tool to modify their core in a number of ways via open, common programming protocols.
United Solutions Company, a technology CUSO based in in Tallahassee, FL, said it is now selling Office 365 through a reseller agreement of the Microsoft Cloud Solution Provider program. With Microsoft Cloud Solution Provider Program, they will be adding the entire suite of Microsoft Products to their office automation product line.
Dell EMC has launched a new line of high-performance servers called the PowerEdge MX that the company said is designed to support a wide variety of traditional and emerging data center workloads. PowerEdge MX offers the first modular infrastructure architecture designed to easily adapt to future technologies and offers what Dell calls “server disaggregation.” This is done through “resource blocks” of servers and storage that connect to the infrastructure through a smart I/O fabric and managed by software-defined computing.
Nearly two-thirds (68 percent) of businesses report that desktops are their primary computing device for employees, compared with only 29 percent which favor laptops and just one percent tablets. According to a survey by Spiceworks, 70 percent of companies use desktops for five or more years before replacing or decommissioning them, and 24 percent use them for seven or more years.
This article says that there is a general digital transformation trend among FIs worldwide which aims to improve and personalize the consumer experience and compete with digital-native financial offerings. Many initiatives around consumer experience have involved improving the ease of use of mobile banking apps and online banking websites, but the article contends that while these are important, the next level is to go beyond the front end of consumer experience to "empathic banking."
This article looked at the analysis of 316 million-plus security incidents and uncovered the most common types of real-world attacks taking place within in-production Web apps in the AWS and Azure cloud ecosystems. It takes over a month for the average organization to patch its most critical vulnerabilities, according to a new report detecting trends in Web application attacks, according to research from tCell.
High hardware costs, software licenses, hardware licenses, technician training, and parts inventories have all drastically increased the life cycle costs of operating a fleet of upscale ATMs. An estimated 85 percent of all FI ATMs will need to be upgraded or replaced in order to remain on a Microsoft supported operating system in 2020. The author beleives that this will be a huge expense — and distraction — in exchange for benefits that are being described as somewhere between "nominal" and "nonexistent." He contends that in response, many FIs are going retro, fielding CE-based, through-the-wall, cash dispensing ATMs.
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:
and their client is:
Improving remote onboarding meanwhile promises to cut abandonment rates, boost long-term usage and inspire positive word of mouth. The author posits that digitally enabling account holders lies at the heart of most FIs’ revenue growth and cost-saving strategies. The article goes on to cover the pros and cons of three real-world options for mobile-based onboarding.
Mobile bankers like the convenience of accessing data via text message, but security experts have concerns about financial textbots. In addition to security issues all chatbots face, textbots come with SMS-specific concerns. For starters, text messages get stored on your phone, and depending on device settings, they are also uploaded to an iCloud or Google Cloud-like service.
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The new Web Authentication (WebAuthN) standard and API enables website owners and service providers to present a unique cryptographic challenge that is bound to its origin. Local authentication of any kind is stored on and never leaves the user’s device. With strong support from Google, Microsoft and other vendors, the author states that WebAuthN is poised to become a true standard for passwordless authentication over the web.
Trend Micro introduced advanced analytics capabilities for its network security solution, Deep Discovery. Now in addition to detecting and analyzing threats on the network, customers will be able to streamline investigation and response with automated analysis and correlation of network events.
The author states that it’s true: Your account holders want personalized offerings. Accenture Interactive polled more than 1,500 consumers in the 18-60 age range from the US and UK and here’s what they found: 58 percent are more likely to purchase with a business that recommends options based on past activity.
Approximately 25 percent of U.S. consumers are considered “thin file,” and often face significant obstacles to obtaining credit. Adding information from alternative credit data sources has the potential to move thin-file consumers to thick-file status.
The Current Expected Credit Loss standard – or “CECL” as it is more commonly called – will fundamentally change how FIs account for credit losses. When it takes effect in 2020, CECL will require FIs to calculate expected loss over the lifetime of a loan, requiring substantially more sophisticated analyses. Forecasting credit losses over the life of a loan requires more advance analytical approaches, powered by a much longer historical dataset to track loan performance, granular information about balances, payments, APR and origination vintages.
Mastercard Decision Intelligence is a security solution that uses artificial intelligence (AI) to make more informed authorization decisions. KeyBank just partnered with Mastercard on the solution and they say that it will increase the accuracy of real-time approvals of genuine transactions and enhance the overall cardholder experience.
Kentik's Cisco Live survey shows networks are changing faster than they have in decades, and many organizations are stumbling trying to keep up with the changes. They note that between multiprotocol label switching (MPLS) and SDN, there were about 15 years where the networking world was pretty static. But with software-defined networking (SDN), Network Functions Virtualization (NFV), and 5G, it has been one thing after another in networking in the last few years.
DefenseCode Web Security Scanner is a DAST (Dynamic Application Security Testing) product for testing security of live web sites and web applications. All security scanning and vulnerability detection features available in the full version of the scanner are also available in the Community Edition. There are no limitations in vulnerability detection.
Pindrop’s latest annual Call Center Fraud Report revealed a significant increase in the contact center fraud rate, a jump of 113% year-over-year. For FIs, the rates were 1 in every 895 calls. This article covers three key call center weaknesses, as well as three call center fraud fighting best practices.
One study found that, on average, employees only devote 1% of their week to learning—while nearly 40% of agents believe their current training program is neither sufficient or efficient. This article looks at three ways to make time for ongoing agent training by utilizing a few modern training techniques.