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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.

October 1, 2018

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

MSUFCU Named One of Michigan’s Best and Brightest in Wellness for 3rd Consecutive Year

MSU Federal Credit Union (MSUFCU) announced it has once again earned the designation as one of Michigan’s Best and Brightest in Wellness. The Best and Brightest program provides year long education, benchmarking, assessment tools and interaction amongst the best employers throughout Michigan.

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1st Community FCU Signs with Sync1 Systems

1st Community FCU of San Angelo, TX, a $260M, 21,000-member CU, is now live as the first user of the loan origination system (LOS) created by Sync1 Systems. Sync1 Systems is a CUSO founded to provide CUs with cloud-based lending technology.

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12 CUs Partner with CU-Save

CU-Save, the revenue enhancement/cost reduction solution offered by InterLutions, has added 12 new credit union clients. The new participating CU asset sizes range from $40 million to $1.7 billion.

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Hardware News

 

A New ARM-Based Server Processor Challenges for the Data Center

Ampere Computing is a startup company that develops ARM-based chips for the data center. The first server vendor to support Ampere is Lenovo, which is also making prototypes powered by Cavium’s ThunderX. It is getting ready to ship 1U and 2U rack servers based on the eMag chip, and later this year Ampere will ship its own white box servers.

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How to Make the Most of Outdated Servers, Storage, and Switches

Outdated systems can always receive interim upgrades such as solid-state drives, broader network cards, and NVMe memory. Eventually, you will reach processor limits, although peripherals tend to be the tougher bottlenecks. Mark Nichols, chief product officer at Curvature, a secondhand IT provider in Charlotte, NC states that "if they sit down and think about it, there's only a portion of their environment that really needs the latest and greatest."

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

 

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Software Updates

 

You’ll Now Need a Subscription to Get the Best of Microsoft Office

Microsoft released Office 2019 for Windows and macOS this week, the latest version of its regular, non-subscription productivity suite. However, Office 2019 is basically a limited version that doesn’t include the most interesting new features of its Office 365 subscription counterpart. Much of the new functionality that Microsoft is now building into Office 365 only works because it’s connected to the cloud.

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ATMs/Kiosks

 

Zytronic, Cryptera Intro ATM Touch Screen with PCI-Compliant PIN Entry

The new PIN transaction security compliant product, CryptoTouch Unattended, is available in any design of Zytronic touch sensors, and enables authenticated payments to be handled completely via the touchscreen in kiosks, ATMs and other payment terminals without the need for a separate encrypting mechanical PIN pad. The solution includes an encrypted touch controller and a secure touch sensor designed to meet PCI 3.x and EMV requirements.

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Secret Service Warns of Surge in ATM ‘Wiretapping’ Attacks

The U.S. Secret Service is warning FIs about a recent uptick in a form of ATM skimming that involves cutting cupcake-sized holes in a cash machine and then using a combination of magnets, medical devices and cameras to siphon user account data directly from the card reader inside the ATM. The Secret Service has received multiple reports about this complex form of skimming, sometimes called ATM “wiretapping” or “eavesdropping,” that often takes scammers days to implement.

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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

 

4 Ways an FI Can Leverage Its Digital Wallet to Boost Revenue

When it comes to payments, there are myriad digital wallet options available, offered by players ranging from card networks (e.g., Chase Pay, Masterpass) to alternative payment providers (e.g., PayPal) to major retailers (e.g., Amazon) to traditional FIs. Findings from a recent study conducted by ath Power Consulting revealed that FIs are the most favored providers of digital payment services, with 2 out of 5 consumers (40 percent) saying they would prefer them over other providers. The article goes on to cover four ways that FIs can encourage digital wallet usage.

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Visa Begins a U.S. Contactless Payments Push Again

Visa says 50% of its face-to-face transactions happened at contactless-enabled merchant locations as of June, meaning the merchant’s point-of-sale equipment was enabled for, not just capable of, conducting a contactless card payment. Unlike mobile payments, in which consumers use smart phones to make tap-and-go payments with digital versions of cards, contactless credit and debit card payments are generally characterized as those made with a plastic card. Visa says 95% of new POS terminals being shipped are contactless-capable.

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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

 

Symantec Helps Protect Office 365 with DLP and New Data Rights Management

Symantec announced new enhancements to its Data Loss Prevention (DLP) technology to help protect information in Office 365. As an integral element of Symantec’s Integrated Cyber Defense Platform, Symantec’s DLP technology leverages a combination of detection technologies backed by machine learning to classify personal information, including Sensitive Image Recognition (SIR) with Optical Character Recognition (OCR). When data is shared with third parties, identity-based encryption and digital rights are enabled to classify and protect and track the data. Protected organizations will have visibility of where their data is shared and who is accessing it, with the ability to revoke access if needed.

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FIs’ Costs Increase to $2.92 for Every Dollar of Fraud

For every dollar of fraud a FI experiences, it costs another $2.92 in associated costs, up 9% from $2.67 in 2017, says LexisNexis Risk Solutions in its 2018 True Cost of Fraud study for the financial services sector. The report also found that as a percentage of revenue, fraud accounts for 1.53% in 2018, up from 0.95% in 2017.

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Technology and Marketing

 

Despite Potential New Competitors, Free Checking Isn't Dead Yet

With the Federal Reserve finally raising interest rates, credit unions are once again examining the future of free checking – a debate that’s been raging since at least 2009, when the number of institutions offering that service peaked and subsequently began to decline, according to Bankrate. But the larger issue surrounding free checking is complicated by the rise of other non-bank players in the financial services landscape, such as a recent report that revealed consumers might be willing to pay for a checking account offered through Amazon Prime. According to Moebs $ervices, one out of two banks offer free checking whereas five out of eight credit unions offer the service.

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Email Is Top Content Channel Despite Hurdles: Study

Email is the best channel for sending content, but there are many barriers to success, according to Email-Driven Content Marketing, a study by Ascend2. For one, 44% are daunted by improving the quality of leads, and 42% struggle with increasing conversion rates. Yet those two tasks are also top priorities — improving lead quality for 54% and conversions for 49%. The article also covers the seven most effective digital content forms.

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Online Banking/E-Commerce/Website Design

 

USAA Trials Augmented Reality App for Car Buying

USAA is piloting an augmented reality app that lets members point their phone at any car made this century and see information like purchase price, cost of insurance and whether there are any similar vehicles for sale in the area. The military bank teamed up with AR specialist Blippar on the app, which shows the relevant information on a member's phone overlaid on the car. The app then lets members who find a vehicle that interests them quickly access USAA’s car buying service, including local dealers and loan rates.

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WhatsApp for Banking Services

Emirates NBD announced that it will launch customized banking services via WhatsApp in the UAE that will allow users to carry out their daily banking activities such as checking account balances and temporarily blocking or unblocking an existing card. All messages on Emirates NBD's verified WhatsApp Business account are encrypted.

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Internet Access

 

5 Criteria for Application-Aware SD-WANs

One common myth about SD-WANs is that they improve application performance. They certainly can under some circumstances, but there is no guarantee they will under all situations. SD-WANs address only part of the transformation of the network to becoming a digital enabler. The author contends that SD-WANs must now become smarter, or “application aware.”

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Call Centers

 

7 Ways to Improve Schedule Adherence

Adherence is, first and foremost, a measure of how much time during an agent's shift he or she is handling, or available to handle, contacts. Be sure to differentiate the terms "adherence to schedule" and "agent occupancy." They are two different things. This article covers seven time-tested suggestions for getting the best adherence results.

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