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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.

September 17, 2018

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

Cuba CU Signs with Sharetec

Sharetec, a provider of both in-house and service bureau core solutions to nearly 300 credit unions, announced that Cuba Credit Union in Cuba, NM, has signed with Sharetec to be their next core banking system. Established in 1972, Cuba Credit Union currently serves those who live or work within the school boundaries of Cuba Independent Schools or Jemez Mountain Schools districts.

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CUNA Mutual Group and PSCU Join Forces

PSCU and CUNA Mutual Group have come together to explore opportunities surrounding the expanded use of data and analytics. The new partnership will explore strategic development ideas by leveraging collective capabilities in digital and analytics solutions, including additional infrastructure for the AdvantEdge Analytics Data Platform, as well as connections with PSCU’s Advisors Plus and contact centers.

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Hardware News

 

Dell EMC Launches PowerEdge MX

Dell EMC announced the launch of PowerEdge MX, labelled by the company as a high-performance, modular infrastructure that is designed to support both traditional and emerging data center workloads. The latest offering can be customized with a PowerEdge MX7000 chassis, PowerEdge MX740c and MX840c compute sleds or a MX5016s storage sled, and PowerEdge MX Ethernet and Fibre Channel switching modules.

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Supermicro Unveils a Fast Thin Storage Server

Supermicro has introduced a new 1U server filled with Samsung-made NF1 SSD drives with capacity as high as 576TB and throughput of up 20GB/sec and 10 million IOPS. By comparison, a server with 15,000 RPM SAS hard disks can manage about 175-210 IOPS. The new Supermicro product, the SSG-1029P-NMR36L, has 36 18TB NF1 drives in its 1U chassis. The server also comes with two 28-core Xeon SP processors and holds up to 3TB of memory in 24 DIMM slots and dual 16-lane PCIe network cards.

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

 

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Software Updates

 

Microsoft Cuts Office 2016 Some Slack, Lets Users Connect to Services Until 2023

Microsoft will let Office 2016 users connect to Microsoft's online services for three more years than the company had earlier said.

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ATMs/Kiosks

 

Attacking the Cost of Cash

Targeting cash costs will be crucial for FIs looking to stay competitive. What can they do to promote cash efficiency and cut the costs of their cash operations? The authors state that there are three main levers FIs can use to manage cash costs: making operations lean, right-sizing networks, and national pooling of resources.

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America Moves Closer to Being a Cashless Society

Cashless commerce is popping up around the country, particularly in restaurants catering to a younger crowd, which is likely to leave home without any greenbacks, or even a wallet, and instead choose to live life with a smartphone and a few credit or debit cards attached. The dollar value of cash transactions sank 7% from 2010 to 2015, according to The Nilson Report, while credit and debit card payments rose nearly 50%. However, the Federal Reserve said in 2016 that 35% of U.S. transactions were still made in cash. Plus the amount of cash—literally, legal tender notes—being used around the world continues to rise.

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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:  

LogRhythm

Logrhythm

 

and their client is:

Technology 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

 

Wi-Fi Analytics Get Real

A number of Wi-Fi analytics tools have been brought to market over the past few years, and while most organizations have yet to dip their toes in the Wi-Fi analytics waters, the author's research shows that those who have are realizing significant benefits.

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Mobile Fraud Reaches 150 Million Global Attacks in First Half of 2018

According to ThreatMetrix data, in the last three years the proportion of mobile transactions versus desktop has almost tripled. Mobile transactions, which include account creations, logins and payments, reached 58% of all traffic by the middle of 2018. Mobile fraud rates have tended to lag behind the channel’s overall growth, however in the first half of 2018 mobile attack rates rose 24%, when compared to the first half of 2017. In the United States mobile attack rates experienced a far higher growth rate of 44% for the same period.

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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

 

Why Behavioral Biometrics are the Next Hot Security Technology

While both fingerprints and biometric security have been around a long time, iris and face recognition are growing as another way to get through security. Plus new modalities like behavioral biometrics are coming into play now, to provide a continuous authentication layer, past the initial login online. Behavioral biometrics are technologies, essentially, that are looking at the way you type, the way you scroll, the way you toggle between fields, the way you do many different things online that you don't even realize.

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The Secret to Successful Cybersecurity Programs? Training and Automation

The majority of security employees from highly-rated companies attributed their success to automation, training, threat intelligence, larger threat infrastructures, and forensic analysis, according to a DomainTools survey.

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Leaders Roundtable

Core Systems:

Core Systems as Systems of Engagement


Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

Member Driven Technologies - http://www.mdtmi.com
Read Scott Johnston's comments:
https://www.cunews.com/MDT.pdf

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf




United Solutions Company - http://www.unitedsolutions.coop
Read Jim Giacobbe's comments:
https://www.cunews.com/UnitedSolutions.pdf

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Technology and Marketing

 

Financial Services Entering New Era of Engagement

FIs are increasingly adopting a more personalized approach to connecting with consumers across all media channels, according to research from the Digital Banking Report. To stay ahead of the competition, financial services companies are making efforts to build human connections with consumers and trying to build a more emotional style of consumer engagement. The future of engagement is not about points and discounts, but about making banking easier and providing personalized experiences that respond to financial needs in real time.

 

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The Anatomy of a Successful Organic Loan-Growth Strategy

Today, an increasing number of credit unions are looking for ways to attract more loans directly. Direct loan growth (vs. indirect) can be more attractive, cutting out the middle man to improve yields, and leveraging direct member contact to increase cross-sells and higher products per member. This article shares some best-practice organic loan-growth models.

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Online Banking/E-Commerce/Website Design

 

Are Faster Payments Fast Enough for a Real-Time World?

This article states that ACH speed-up really needs to be just the beginning as consumer expectations ramp up for real-time payments. When considering faster payments solutions and their efficiency, credit unions need to consider through what rails transactions are being processed and how quickly funds are made available to the receiving FI.

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Innovative Go-To Platform

Access to the Go-To platform is free for customers of Umpqua Bank regardless of account balance and gives them a dedicated personal banker devoted to their financial needs. After downloading the app, customers choose their own personal banker based on professional background, expertise, personal interests and location. Then, using secured text and chat capabilities they connect with their personal banker to resolve issues, explore financial opportunities and receive expertise.

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Payments PIN Network Mistakes

Here are the three mistakes FIs make with their PIN networks that can lead to that 10% reduction. Mistake #1 – Making card processor and PIN network decisions together with one vendor; Mistake #2 – Picking a network based solely on published interchange rates; and Mistake #3 – Not finding a compatible partner.

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Internet Access

 

Why AT&T Project AirGig Could Improve Telecommuting and Remote Work

Because AT&T AirGig sends the signal across power lines, it can reach more users in rural and suburban areas. The deployment of AirGig could bring 100-megabit rural broadband by 2021, opening up new remote work and telecommuting opportunities for professionals around the US.

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Arxan Launches Advanced Protection for Client-Side Web Apps

According to Gartner: “by 2022, API abuses will be the most frequent attack vector, resulting in data breaches for enterprise web applications.” Arxan announced the launch of Arxan for Web which they say enables organizations to defend against server side (API) attacks and credential theft.

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Call Centers

 

Maximize Service Levels by Minimizing Unplanned Shrinkage

If someone calls in sick or is otherwise off the phones at a time where they are scheduled to be on the phones, all that hard work you just spent on forecasting and building an optimal schedule to provide adequate coverage can go out the window. This is a problem that all contact centers invariably have to deal with, but there are things you can do to help minimize this unplanned shrinkage, and this article looks at three of them.

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