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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 24, 2018

This Week's News is Sponsored by Better Branches ~

BB

 

General News

 

ProfitStars Introduces New Online Banking Fraud Solution

Jack Henry & Associates' ProfitStars division announced the availability of its Gladiator iPay Enterprise Security Monitoring solution. iPay ESM is a web-based monitoring and reporting solution designed to help FIs mitigate online bill pay fraud and comply with regulations.

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Suncoast CU Partners with Payrailz

Payrailz announced that Suncoast Credit Union, a top 20 credit union at $9.2 billion assets, will offer its payment services to members. Through this partnership, Suncoast CU’s 785,000 members will have access to Payrailz’s intelligent and sophisticated payment technology, including consumer and business bill pay, bill negotiation services, P2P and A2A money transfer services.

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Hardware News

 

Microsoft Managed Desktop Lets Redmond Handle Your Desktop Devices

Microsoft Managed Desktop (MMD) is a new service that combines Microsoft 365 Enterprise (a combined Windows 10, Office 365, and Enterprise Mobility bundle), hardware leasing, and cloud-based device management to deliver secured, updated, and maintained systems, all with software maintenance handled by Microsoft. Redmond says that it's offering the service in response to customer desire to hand off day-to-day device management tasks and spend more time addressing the needs of their organizations.

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Mobile Video Banking Might Be Ready to Take Off

FIs have been eyeing the technology for a couple of years as a way to make banking more convenient. Whether in-branch or mobile, the video service has proved popular for institutions that offer it: Some 85 percent of consumers who have tried video banking say they’d try it again, according to a survey of more than 4,400 consumers in North America and Europe by Vidyo.

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

 

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Software Updates

 

Why Machine Learning Will See Explosive Growth over the next 2 Years

Some 96% of companies expect to see an explosion of machine learning projects in production by 2020, according to a Univa report. Machine learning's biggest challenges in production were lack of experience with using the technology, complicated data flow, compliance, regulatory requirements, and more, said they survey. Regardless, machine learning drives a huge area for value, including IT optimization, security, fraud detection, and natural language.

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BestCrypt Volume Encryption 4 Released

Jetico has announced a new version of its disk encryption. They say that BestCrypt Volume Encryption 4 now delivers a smoother interface and faster performance to encrypt hard drives. For central management of disk encryption, Jetico also offers an Enterprise Edition of BestCrypt Volume Encryption.

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Microsoft Office Is More Dangerous than You Think: Docs Deliver 45% of All Malware

Microsoft Office documents packed with malicious macros are the most common malware loader of the past month, accounting for 45% of all delivery mechanisms analyzed, according to a report from Cofense. Office Macros were followed in popularity by CVE-2017-11882, malicious batch scripts, malicious PowerShell scripts, and WSC downloaders, the report found.

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ATMs/Kiosks

 

Small Purchases: Many Rewards Cardholders Still Use Cash Instead of Cards

Believe it or not, 45 percent of consumers who own rewards credit cards say cash is still king for purchases under $10, according to a new CreditCards.com poll. Debit cards (30 percent) come in second, while credit cards (23 percent) take a distant third place as the payment method of choice for buying inexpensive items.

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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:  

ForeScout

ForeScout

and their client is:

Meritrust 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

 

Debit Card Users Take a Liking to Apple Pay and Other Wallets, Pulse’s Annual Survey Finds

More mobile and contactless opportunities may be in the future for debit card issuers. The 2018 Debit Issuer Study from Houston-based Pulse Network found 12.2% of debit cards were enrolled in Apple Pay as of January, up from 6.3% in January 2017. Debit card enrollment in the other major mobile wallets, Samsung Pay and Google Pay, also increased, but trailed far behind Apple Pay.

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Siri Used to Manage Payments

Australian bank Westpac is enabling Siri for its users to manage their accounts and transactions from iPhone devices. To authenticate payments, users will be prompted to input their fingerprint or face ID before the money is transferred to the payee.

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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

 

7 Ways Blockchain Is Being Used for Security

Security professionals are finding that the qualities blockchain brings to a solution are effective in securing data, networks, identities, critical infrastructure, and more. Blockchain is being used in a number of security applications, ranging from record-keeping to acting as part of the active data infrastructure, and more options likely are on the horizon. However, security professionals should treat blockchain as a useful technology - not a magical answer to all problems.

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Counterfeit Checks Becoming Nearly Impossible to Spot

Counterfeit checks, often digitally altered versions of real business checks, are getting so good that they're nearly impossible to spot, a new study shows. Tellers at FIs are being fooled, as it's estimated that as many as 500,000 Americans were burned by fake check scams during 2017, with the average victim losing about $1,200, the Better Business Bureau reported.

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CrowdStrike and Secureworks Form Partnership to Integrate Secureworks' Red Cloak Behavioral Analytics

CrowdStrike and Secureworks announced that they will be teaming up to apply Secureworks’ Red Cloak behavioral analytics and intelligence to CrowdStrike’s Falcon platform data. The joint offering delivers in one package an endpoint detection and response solution with applied analytics and intelligence to help accelerate investigations and provide guided remediation steps.

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Technology and Marketing

 

Microsoft Brings AI and AR to Dynamics 365

Dynamics 365 was introduced two years ago, with the mission of eliminating silos within customer relationship management (CRM) and enterprise resource planning (ERP) processes. Now the software giant is bringing artificial intelligence (AI) and mixed reality to Dynamics 365. They claim that Dynamics 365 AI will help market research teams make better decisions through marketing and social insights.

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The 3 Key Drivers of the Member Experience

Almost every day, you read about a new, “best” measure to use in order to understand members’ attitudes and sentiment towards their CU, e.g., Satisfaction, Net Promoter, Customer Effort, Wallet Share, and Engagement. However, the author contends that “It is not about the score.” It is instead about what strategies and actions are put in place to differentiate your CU and to build relationships with members.

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Adobe to Acquire Marketo: So What?

Adobe’s announced acquisition of Marketo shows us just how hot digital marketing automation is right now. Marketo is a system vendor that automates lead management including email, mobile, social, digital ads, web management and analytics. The author points out three challenges for Adobe going forward: Integraton, Talent and Execution.

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Online Banking/E-Commerce/Website Design

 

Five Reasons the Payments Business Is Ripe for Big Change

In the near future, business and consumers will interact with multiple companies in a more decentralized, technology-driven system. This article highlights 5 key reasons why fintech will disrupt business models of FIs.

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As Transaction Volume Grows, NACHA Smooths out the Road for Same-Day ACH

Effective March 20, 2020, the dollar limit on same-day transactions will quadruple from $25,000 to $100,000, NACHA announced. Another change gives FIs more time during the day to submit ACH transactions by extending the deadline by two hours to 4:45 p.m. Eastern. And in yet another change, NACHA says it will speed up same-day funds availability by mandating that funds for certain same-day and next-day credit transactions will be available by 1:30 p.m., fully three-and-one-half hours sooner than under the existing rules.

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What Is Alternative Credit Data?

Alternative credit data is increasingly integrated in credit talks for lenders across the country. “Alternative” data as a whole may best be summed up as FCRA-compliant credit data that is not typically included in traditional credit reports. Some examples of alternative credit data include alternative financial services data, rental data, full-file public records and account aggregation. Alternative credit data can give supplemental insight into a consumer’s stability, ability and willingness to repay that is not available on a traditional credit report that can help lenders avoid risk or price accordingly.

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Internet Access

 

Websites Are Attacked 58 Times a Day, Even When Patched Properly

Websites fall victim to malware attacks an average of 58 times a day, which is a 16% increase from last quarter, according to SiteLock's Q2 2018 report. Some 55% of infected sites were up-to-date on their core versions at the time of attack, meaning websites are still being targeted after being properly patched. The report found that cybercriminals are employing both new and old malware attack vectors, including bots, backdoor files, cryptojacking scripts, defacements, and Javascript malware.

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Call Centers

 

Why Voice Fraud Rates Continue to Rise with No Signs of Slowing Down

A Pindrop report reveals the rate of voice fraud climbed over 350 percent from 2013 through 2017, with no signs of slowing down. Additionally, between 2016 and 2017, overall voice channel fraud increased by 47 percent, or one in every 638 calls. The year-over-year increase can be attributed to several causes, including the development of new voice technology, the steady uptick in significant data breaches, and acts of fraud across multiple channels.

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Tackling Phone Scammers with Caller ID Feature

In a UK first, customers who receive a call from Barclays will now be able to choose to receive an alert in their app or online banking confirming the details of the employee who is calling them. The customer can then choose to accept the call, knowing that they are not giving out any sensitive information to the wrong person.

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