Credit Union tech-talk News

October 8 - October 12, 2007

• General News
• Hardware News
• Software Updates
• ATMs/Kiosks
• Biometric Digest Highlights
• Wireless World
• Security Section
• Leaders Roundtable
• Technology and Marketing
• Online Banking/E-Commerce/
  Website Design
• Internet Access
• Call Centers
• Conferences

* Sun East FCU Renews Technology Partnership with AFTECH
* USERS’ Holds Successful EdCon 2007
* BECU Renews Contract with Open Solutions
* Affinity FCU Deploys IMM’s Teller Item Capture Product

AFTECH, a business unit of Fiserv and a leading provider of technology solutions, announced that it will continue its 20-year processing partnership with Sun East Federal Credit Union in Aston, Pa, a $316 million asset institution. Sun East has authorized a new agreement with AFTECH for core processing and other products that include aftech@net home banking, the RSA MultiFactor Authentication from Fiserv and AFTECH’s ConvergeIT IVR solution.

USERS, a business unit of Fiserv, hosted more than 400 attendees at EdCon 2007, the company’s 24th annual educational conference. EdCon brought USERS’ credit union clients
together to learn about the company’s product and technology plans, share best practices, network with their peers and discover new technology solutions to help them achieve their business goals.

BECU (formerly Boeing Employees Credit Union), the largest credit union in Washington State and one of the top five financial cooperatives in the United States, recently renewed its contract with Open Solutions for an additional five years. The credit union has relied on Open Solutions’ The Complete Credit Union Solution, a relational data processing platform, to handle its retail transactions, consumer loan servicing and integration strategy since 2002.

Affinity Federal Credit Union, with 1.4 billion in assets and 120,000 members, recently deployed Integrated Media Management’s (IMM) teller item capture product. IMM began offering the Check 21 solution in response to the credit union industry’s need for an integrated process that would allow credit unions to capture check information at the teller station. 

Hardware News

Arkeia’s EdgeFort 300 appliance attaches to the network via Gigabit Ethernet and includes backup software, as well as disk storage and a tape drive. The 300 makes it possible for remote and branch offices to back up, restore and archive their data without the help of local IT resources. The rack-mountable appliance incorporates a 1TB virtual tape library that enables disk-to-disk-to-tape backups and encryption software that ensures the protection of data from its creation until it is deleted. All data is protected with RAID 1 disk technology. An LTO-2 tape drive is included. The EdgeFort 300 starts at $8,800.

ProStor announced new capacities for its removable disk media. Now 300GB of information can be stored on the RDX removable disk. The company expects to release an RDX disk cartridge with a 500GB capacity in 2008. The new 300GB RDX is expected to be available in the fourth quarter of this year from Tandberg and Imation. 

MagTek®’s ExpressCard 1000 is the industry’s first “ALL-IN-ONE” instant issuance and complete card personalization platform forCredit, Debit, ATM, and Financial Gift Cards designed to fit securely and comfortably within a branch location.

For the first time, card personalization features such as color card-printing, magstripe encoding, smartcard encoding, card embossing, indent printing, and foil tipping have been combined into a single device which provides both the physical and logical security features required to meet the demands of a branch or retailer’s card issuing environment.

Equipped with MagnePrint® card authentication technology (www.magneprint.com), the ExpressCard 1000 offers the capability to capture the card's reference MagnePrint at the time of card issuance so that reference value may be used in conjunction with complementary risk management analytics with card present transactions. The ExpressCard 1000 can be connected as a peripheral to MagTek’s IntelliCAT and MCAPS 3000 PIN selection and instant issuance software suites creating a complete and secure card issuing platform.

For more information on ExpressCard 1000, go to www.magtek.com or call your MagTek sales representative at 800-788-6835.

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ATMs/Kiosks

According to a SYNERGISTICS Research report entitled, “The Outlook for ATMs”, most respondents said that they would only use their own financial institution’s ATMs if surcharges rise. Less than one-fifth would use ATMs less frequently, while about one in twenty would change financial institutions. William H. McCracken, CEO of SYNERGISTICS, stated, “our research reveals that consumers are resistant to ATM surcharging and may change their behavior in response to increased surcharges. Providers need to develop ATM pricing strategies based on an understanding of consumer resistance and behavior, as well as the impact of recent developments.” 

Diebold has released the fifth-generation of their ATM depository technology. The advanced Intelligent Depository Module (IDM) technology receives and processes both checks and bill payment documents in bulk. The new module accepts and magnetically reads checks inserted in any orientation - even upside down - through an insertion slot placed identically on all of Diebold's Opteva ATMs. The bulk document IDM's paper-handling capabilities can process crumpled, curled and creased checks, and can handle stacks of up to 30 documents.

The Houston-based PULSE EFT Association is now offering credit unions a new service dubbed DebitProtect. It is designed to cover both transactions that use a PIN and those that cardholders validate with a signature. The fraud protection service uses a scoring system to evaluate transactions and alerts credit unions by e-mail should possibly fraudulent transactions be identified.

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Fiserv CBS Worldwide, a business unit of Fiserv, announced that it has signed a global partnership agreement with BioPassword to provide secure access to Fiserv front office financial services solutions. BioPassword's software uses a combination of the user's standard login credentials (username and password), keystroke biometrics (their unique typing rhythm), knowledge-based authentication (user selected questions and answers) or software one-time passwords (single-use password delivered to your mobile device) to ensure system access is only available to authorized users. 

Pacific Credit Union helped sponsor a free child safety event that included biometric fingerprinting. At the DNA LifePrint Child Safety event, parents received an FBI-certified biometric 10-digit fingerprint profile, a high resolution full-color digital photograph of their child, a child safety journal and a home DNA identification kit. Officials said there is no databasing - the only record of the visit will be given to parents to take home. 

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Postilion, a provider of software solutions for self-service banking and payments and a division of S1 Corporation, announced that it will launch the Postilion Mobile solution for American credit unions. The company says that Postilion Mobile supports a wide range of banking and payment functions, is multi-language and multi-currency capable, and offers a consistent look and feel across Postilion self-service channels. Postilion Mobile is based on technology developed by Fundamo, an international provider of mobile banking and payment solutions. 

Not to be left out of the mobile banking arena, NYCE Payments Network said it will begin offering mobile banking and payments services to credit unions. Monitise Americas and Metavante have signed an agreement through which NYCE will deliver the Monitise Americas platform directly over its existing network architecture. NYCE said it will deliver services such as balance inquiries, funds transfers, mini-statements, text message alerts and bill payment across multiple mobile carriers, so most consumers would be able to use the service without having to switch carriers or handsets. 

Green Armor Solutions announced the availability of a new “mobile access security” checklist that can help credit unions plan for implementations of mobile banking and other mobile-enabled web projects. Credit unions wishing to receive a free copy of the checklist can visit http://www.greenarmor.com/mobile-authentication.shtml  

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The percentage of threats arriving in e-mails that rely on links to malicious sites - rather than arriving as file attachments - has ballooned tenfold since the first quarter of the year, according to MessageLabs. "The bad guys know that most people have learned not to open attachments," said a MessageLabs senior security analyst. "E-mail is still the preferred attacker vehicle for getting their 'message' across, but now they're using links. They know people still follow links."

Cain & Abel is a popular Windows-based tool that can crack at least 28 different password hashes, conduct ARP spoofing and man-in-the-middle attacks, and sniff more than a dozen different passwords off the wire. Some security experts encourage system administrators to run Cain & Abel to ferret out weak and plain text passwords on their own local system and on their networks. Many first-time users are surprised to find that plain text passwords abound on networks they believed were relatively secure. 

MAGENSA™ is a trusted verification authority (TVA) that provides real-time remote-hosted credential authentication services. These services enable credit unions, financial institutions, businesses, and government agencies to integrate PCI DSS and FFIEC multi-factor authentication and end-to-end data encryption capabilities into their existing processing environments without the need for substantial financial investments or massive changes to the existing infrastructure.

Specifically tailored to enhance the security of internet banking and ATM applications, MAGENSA delivers unprecedented security and authentication using the familiar magstripe card credentials (secure tokens) that a credit union has already issued to its members. MAGENSA is powered by the trusted and proven card authentication technology known as MagnePrint® (www.magneprint.com). MagnePrint differentiates a members’ authentic magstripe card from an altered or counterfeit version, transforming the traditional magstripe card into a powerful security token.

MAGENSA’s Secure Data Center (SDC), a reliable 24x7 operations center that is maintained 365 days a year, simplifies the integration of data decryption and MagnePrint scoring into existing websites, and allows for data federation across institutional domains.

For more information on MAGENSA, please visit www.magensa.net or call 877.MAGENSA.

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Core Systems: 

Using Core Systems to Increase Loans and Deposits

AFTECH - http://www.aftech.com   Read Joseph Antellocy's comments: http://www.cunews.com/roundtable/AFTECH.pdf

COCC - http://www.cocc.com   Read Mark Shaw's comments:   http://www.cunews.com/roundtable/COCC.pdf

CU*Answers - http://www.cuanswers.com   Read Randy Karnes' comments:     http://www.cunews.com/roundtable/CUAnswers.pdf

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

Galaxy - http://www.fiserv-galaxy.com   Read Jay Slavin's comments:     http://www.cunews.com/roundtable/Galaxy.pdf

Harland Financial Solutions - http://www.harlandfinancialsolutions.com   Read David McConney's comments: http://www.cunews.com/roundtable/HFS.pdf

IntegraSys - http://www.integrasys.fiserv.com Read Anne Stauch's comments: http://www.cunews.com/roundtable/IntegraSys.pdf

Open Solutions - http://www.opensolutions.com   Read Michael Nicastro's comments: http://www.cunews.com/roundtable/OSI.pdf

ShareOne - http://www.shareone.com   Read Daryl Tanner's comments:   http://www.cunews.com/roundtable/ShareOne.pdf

Summit Information Systems - http://www.summitsite.com   Read Kevin Sparks' comments:   http://www.cunews.com/roundtable/Summit.pdf

Symitar - http://www.symitar.com   Read Kathy Hooker Burress' comments:   http://www.cunews.com/roundtable/Symitar.pdf

USERS - http://www.users.com   Read Eric Panepinto's comments:   http://www.cunews.com/roundtable/USERS.pdf

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If your credit union is offering Health Savings Accounts (HSAs), Celent analyst Alenka Grealish suggests turbocharging them with personal lines of credit. A recent Celent report estimated that there are about 2.5 million HSAs in the market today, about double that of a year ago. However, the research firm notes that many consumers don't set aside enough money in their HSA and may not have enough funds in their accounts to cover a major medical expense. The personal line of credit would work similarly to an overdraft protection on a checking account, and members could set up a credit account at the time that they open the HSA.

Newport News-based 1st Advantage Federal Credit Union recently held a hybrid car expo at one of their branches. In conjunction with a local car dealer, they also held seminars showing exactly how hybrid cars work, how the battery pack works and how owning a green car helps the environment. 

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Metavante announced the general availability of one of the industry's first expedited payments solutions. The new service enables credit union-based online bill pay members to make expedited payments to virtually any biller using their credit union's website, helping minimize some concerns about late payment fees, service disruption or possible harm to credit ratings. From the credit unions' point of view, Metavante's new solution creates an opportunity to generate revenue from last-minute payments and online bill payments as a whole.

MasterCard has announced the MasterCard Payment Gateway - calling it "a flexible enterprise-wide payment processing platform for routing commercial payments between buyers, suppliers and their financial institutions." According to MasterCard, the gateway "gives companies a streamlined total payables solution designed to increase productivity and profits with enhanced security, while simplifying the entire payments process." Other features include: 

• Single interface (“one stop shop”) for all payment processing needs 
• User Interface/Web Portal for payment status and reporting 
• End-User Integration (with current ERP/AP systems) 
• Payment Rules Engine 
• Supplier Directory 
• Remittance Information regardless of payment type

A new survey from a large payments firm covers consumer payment preferences in-depth. We will highlight their findings in the November issue of Credit Union tech-talk - subscribe now.

Revolutionary Convergence of Security Technology for Secure Internet Banking!

MagneSafe^TM P55 is a portable card reader/authenticator with four key technologies for secure online banking: Cardholder Data Encryption, MagnePrint^® card authentication technology, Website Authentication and Track 1, 2 and 3 card reading capabilities. In conjunction with MagneSafe^TM, the MagneSafe P55 is designed to offer secure, multifactor authentication for Internet banking, empowering consumers with the freedom and confidence of knowing that their transactions are protected anytime, anywhere.

MAGENSA, a Trusted Verification Authority that provides real-time, remote-hosted credential authentication services, allows credit unions to integrate PCI DSS and FFIEC compliant multifactor authentication, data encryption, website authentication, and data federation capabilities without the need for substantial financial investments or massive changes to the existing infrastructure.

For more information about the MagneSafe P55 or MAGENSA, visit www.magensa.net, or call 877.MAGENSA.  

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3Com showed its intention to move into the small- and mid-size business IP telephony market with the rollout of three new IP PBX systems. The 3Com VCX Connect range is targeted at organizations with up to 250 phone users. It is an all-in-one platform that delivers Session Initiation Protocol (SIP) software-based IP telephony call control and unified messaging in a single-server package. Administration is via a Web-based interface for ease of administration. It comes in two flavors: the lower-end VCX Connect 100, which is meant for organizations with between 30 to 100 users, and the VCX Connect 200, which delivers robust performance for up to 250 users. One of the primary attractions of the VCX Connect platform is that it can be configured with primary and secondary servers to provide a transparent failover solution. For organizations with less than 30 phone users, 3Com is launching the 3Com Asterisk Appliance, a VoIP system based on Digium’s Asterisk Appliance. 

Meanwhile, Microsoft has announced new digital phone systems geared towards small organizations. Microsoft is hoping Response Point’s ease of use will appeal to small organizations that typically lack in-house computer or telephony expertise. The company claims individuals with average PC skills will be able to use a simplified management console to add users to the system, set up voice mail, and configure extensions. The software includes embedded voice recognition technology that allows employees to initiate a call simply by pressing a button on their Response Point phone and speaking their colleague’s name. The Microsoft Response Point phone systems will initially be offered by D-Link and Quanta Computer, and they will range in price from $2,500 to $3,000. 

T1s, VoIP, DSL, VPNs… We Have You Covered!

The credit union world changes fast and technology must keep up. Ewart Technologies has solutions that can help your credit union stay on top. Covad’s voice and data services, along with our robust VPN solutions, integrate seamlessly to provide your organization with flexible, affordable communications.

Since 1997, Ewart Technologies, Inc. has been a trusted solutions provider for credit unions, offering a full range of technology services designed to maximize the value of IT investments.

Whether your organization simply needs a T1, DSL, Hosted VoIP, or PRI replacement, or you don’t have a clue what any of that means and need help wading through the techno-jargon to find a solution that makes sense, Ewart Technologies can help.

Call us today, toll-free at 877.241.1490, or visit us at: www.EwartTechnologies.com

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Call centers - especially small ones - often struggle to maintain service levels and to lower abandon rates whenever call volumes peak. Some centers employ internal 'SWAT teams' to help overcome call spikes. Whenever call volumes reach a set threshold, a team of cross-trained reserve agents — advanced members of the center’s staff whose primary duties include working in other back office positions — dive into the queue to help out. Avaya has developed a tool called Business Advocate that streamlines this entire process. The software enables you to do automate this process and save a great deal of time. Call center managers can program who their reserve agents are and at what thresholds they need to be pulled in to help answer calls.

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Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2007:

October 10-13, Albuquerque - Firefighters' National Credit Union Summit

November 8-10, San Diego - CU InfoTECH

June 5-6, Las Vegas - Credit Union InfoSecurity Conference

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