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After 18 months of collaborative planning sessions, testing, and training, Sandia Laboratory Federal Credit Union ($2.5B assets; 99,000 members; Albuquerque, NM) just went live on the Corelation's KeyStone platform. It had been 40 years since the credit union experienced a core processor change, and this is the first time that credit union personnel are able to access consumer and commercial profiles in one system.
CUES has formed a new partnership with Think|Stack to offer CUs their cyber governance solution, Goma. Goma is a tool that helps facilitate communication and track progress in a CU’s digital transformation. It gives key stakeholders the information they need and provides a roadmap on their digital innovation journey.
The diskAshur PRO² SSD is an ultra-secure, PIN authenticated, portable USB 3.1 hard drive with real-time AES-XTS 256-bit hardware encryption. It doesn’t require any software – the keypad enables you to securely access the drive by entering a PIN code. The device comes in different sizes ranging from 128 GB up to 4 TB.
Intel announced it has perfected a manufacturing technology it calls Foveros to stack different chip elements directly on top of each other, a move that should dramatically increase performance. The first Foveros chips will arrive in 2019, Intel said.
A recent study into 43 initiatives reported that despite a great number of promises and convincing arguments, none of the projects have been able to show that they have been able to use blockchain technology to achieve their objectives. Blockchain critics say that while it allows us to keep secure records of transactions – but so do other conventional databases if properly secured with cryptography. Analysts at Forrester predict that 2019 could be the beginning of a “blockchain winter” – when frustrations and lack of results, together with a lack of understanding of the technology, mean excitement wanes and enterprise projects are mothballed.
VMware announced that it has added open source Istio software to its NSX networking platform to better manage containers and microservices. Istio, which allows users to connect, manage and secure microservices for both containerized and non-containerized workloads, was developed by IBM, Google and Red Hat before it was put into open source last year. NSX Service Mesh extends the capabilities of Istio's service mesh technology to bring more visability, control and security at the application layer to microservices and the data those microservices access.
The author states that if the spiraling cost of operating Windows ATMs wasn't bad enough, ATMs running Windows operating systems are now suffering from an increasing number of malware attacks. In response to these issues (and more), the ATM Industry Association has announced its own blueprint for the next generation of ATMs which will no longer be based on the Microsoft Windows platform. The author concludes that whether the next generation of ATMs is Linux-based or CE/IOT-based, what is clear is that ATMs running on the Windows operating system could soon be dinosaurs.
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:
Member Savings Credit Union
Barclays has added a button in thier mobile app that is designed to help users struggling with addiction to limit spending. Users can block their spending in gambling sites, pubs, bars, supermarkets and on premium-rate websites and phone lines. Attempted payments that fall within the “turned off” category will be declined automatically.
The author contends that FIs will have to prioritize an omnichannel delivery strategy that creates a truly responsive consumer experience — something you could call “ambient computing” — if they hope to keep pace with an increasingly mobile population and align with digital natives. He states that by leveraging emerging technologies like smart watches and voice-enabled devices, ambient computing is poised to revolutionize consumer behavior, and that FIs that want to maintain a competitive edge in an increasingly tech-centric world need to incorporate this reality into their long-term strategy.
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In the aftermath of one of the most destructive data breaches ever recorded, fraud hit record highs in 2017 as fraudsters broadened their focus to target a wider array of account types and organizations. In its 11th Identity Protection Service Provider Scorecard report, Javelin Strategy & Research explores changes in the identity protection landscape and identifies the top vendors in the identity protection space based on the Prevention, Detection, and Resolution capabilities of their direct-to-consumer products. The research firm noted that EZShield took Best in Class in the 2018 Identity Protection Service Provider Scorecard.
The FTC periodically reviews all of its rules and guidelines and seeks comments on whether any modifications need to be made to the Red Flags Rule and the Card Issuers Rule. With the Red Flags Rule, FIs and some creditors have to implement a written identity theft prevention program aimed at detecting red flags of identity theft during the course of normal operations, take steps to prevent it and mitigate damage as a result of it. The FTC noted that identity theft was the second largest category of consumer complaints made to the government agency in 2017.
Core Systems as Systems of Engagement
The author states that celebratory social media posts not only drive engagement, they are also a key tactic for building community. She recommends these four ways for FIs to tap into this feeling: 1. Tie into Annual or Recurring Occasions; 2. Spotlight Items With Community Impact; 3. Record Money Milestones Reached by Community Members; and 4. Celebrate Your FI’s Own Milestones.
Credit Unions are one of the most popular forms of banking in the United States, but also one of the least advertised. This article covers 7 marketing trends for credit unions that are among the most important to pay attention to in 2019.
THe author is convinced that real-time payments will be the biggest change in payments since the 1970s. The Federal Reserve’s Faster Payments task force set five broad goals for a new payments system: 1. near-instantaneous transactions; 2. a level of security that inspires user confidence; 3. reduced transaction costs; 4. global compatibility; and 5. industry-wide collaboration to realize these goals and encourage adoption of the new system.
Many organizations have moved critical workloads to the cloud, with providers like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform vying for market share. A new report from Palo Alto Networks Unit 42 threat research team lays out five key cloud security trends organizations must pay attention to to keep their workloads and data safe in 2019.
Using commercially available technology, fraudsters are “generating interactions using captured voice patterns from pretext calls with the victims,” says research firm Gartner. Synthetic speech, along with what the firm calls “cross-channel fraud” (where call center attacks begin online and end with a visit or written request), form a one-two punch that casts vulnerable call centers adrift. One security expert claims that one of the best contact center fraud controls is non-technical: Always do call backs.
The author states that there are ways to achieve gains in both quality and efficiency in your contact center. He goes on to cover five such areas where he sees significant gains for your contact center by upgrading in 2019 if you haven’t already.