Credit Union tech-talk News

December 3 - December 7, 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

* Energy Credit Union Selects COCC for Technology Partnership
* Harland Financial Solutions Earns Certification 
* KeyPoint CU Adds TFactor’s Online Education System
* Justice FCU Partners with Zix for E-mail Encryption
* Fiserv Announces Paytraxx Adoption Marketing Program with Online Tutorial

COCC, a leading provider of next generation technology services for credit unions, announced that Energy Credit Union of Waltham, MA has selected the company for a long term technology partnership. The COCC technology will enable the credit union to add business checking and lending services to their product lines as well as electronic documents to replace stocks of paper receipts and signature cards. 

Harland Financial Solutions' UltraData Enterprise Group has achieved certification from Service Strategies Corporation under the Service Capability and Performance (SCP) Standards. Representing best practices in the industry, the SCP Standards quantify the effectiveness of client service based upon a stringent set of performance metrics. 

Silicon Valley-based KeyPoint Credit Union announced it has signed with TFactor to implement the company’s KnowledgePortal360 web-based learning management system. KnowledgePortal360 will allow the $800 million credit union to build eLearning content, develop surveys, conduct webinars and virtual classroom sessions, manage eLearning and traditional classroom instructor-led training with ease.

Zix Corporation, a leader in email encryption and e-prescribing services, announced that Justice Federal Credit Union has selected ZixCorp's Email Encryption Service. JFCU chose ZixCorp's service for email encryption, which includes pre-configured policies that encrypt email containing sensitive information, and to help prevent accidental transmission of confidential data. 

Fiserv, a leading provider of information technology services to the financial industry, announced the availability of a new Adoption Marketing Program for its Paytraxx electronic bill payment solution. The Adoption Marketing Program includes a complete suite of marketing tools designed to assist credit unions in successfully promoting bill pay services to their members. The Adoption Marketing Program includes an online tutorial that walks members through the bill pay service, promoting the general benefits of electronic bill payment, while explaining how to use the Paytraxx system. 

Hardware News

NCR has rolled out their Branch Assist 12, a high-capacity Teller Cash Recycler (TCR). This latest unit complements NCR’s Branch Assist 10 model which was introduced earlier this year. TCR technology automatically authenticates, counts, stores and makes available deposited currency notes, which are then recycled back to members over the teller counter. NCR says that the Branch Assist 12 unit offers the highest level of cash capacity available in the marketplace today because of its unique capability to recycle from 12 internal rolled storage modules. 

OEMPCWorld.com, a Silicon Valley-based online computer memory retailer, aims to become one of the most proactively eco-friendly memory retailers in North America. They point out that RAM chips contain potentially dangerous levels of lead, making it an unwanted and unsafe addition to landfills regardless of its relatively small size. In an effort to reduce the amount of computer memory that makes its way to landfill, OEMPCWorld.com has setup a BuyBack program that includes an optional inexpensive postage-paid return envelope when shipping out new orders, allowing customers to mail back out-dated RAM in exchange for additional savings off of their purchase cost. The company says that any RAM that they recover through its BuyBack program which cannot be resold is processed to extract the potentially harmful lead from the RAM before it is discarded. 

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

INETCO Systems, a provider of business transaction intelligence software and communications gateway products, announced the launch of its INETCO Insight 3.1, a software solution that performs real-time monitoring and analysis of the end-to-end payment transaction flow. With its ability to decode transaction messages from raw network traffic forwarded by a managed Ethernet switch, communications gateway or transaction switch, INETCO Insight allows credit unions to visualize in real-time how each ATM is performing, how upstream providers are responding, and how the payments infrastructure is processing transactions. 

At the recent BAI Retail Delivery Show, Diebold was demonstrating its Campaign Office server-based marketing software component of Agilis Office Suite. By utilizing Campaign Office, Diebold says credit unions can increase profitability while delivering personalization at the ATM, through screens, backgrounds, buttons and fonts, language preferences, and informational and service messages for specific locations.

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The Japanese hardware manufacturer Wacom and the German software specialist Softpro have teamed up to deliver a biometric signature system. Their Signature LCD tablet named SignPad was first demonstrated to a broad audience at the recent BAI Retail Delivery Show. The tablet has the capability to capture all distinct behavioral characteristics of an individual’s signature - including shape, speed, stroke, pen pressure and timing information. 

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Scottsdale-based Clareity Security is now offering its patented TEXT-pass product line to help credit unions meet FFIEC guidelines which require higher-level security for authenticating online members. TEXT-pass uses a member's mobile phone as an authentication token, rather than a single-use device such as a one-time password token. The solution generates secure, one-time passwords and transmits them directly to a member's cell phone via SMS message, eliminating the need for loading software on a member's computer or distributing hardware tokens. Clareity says that their system provides credit unions with a viable way to protect members from ‘man-in-the-middle’ attacks. 

Most security experts strongly recommend that you encrypt your backup tapes. But now there is a new sophisticated tracking system that adds another layer of security for your backup tapes as they move offsite. It utilizes an 'industrial-grade' GPS and triband cell phone capabilities. Learn more about it in the January issue of Credit Union tech-talk - subscribe today.

Kingsport, TN-based Eastman Credit Union continues to support the build-out of their area's free Wi-Fi network. In partnership with the Greater Kingsport Alliance for Development (GKAD), a local ISP, and Appalachian Electric Power, they plan to blanket every low-income neighborhood in the area with free Internet access. The credit union sponsors the maintenance and equipment, and when visitors enter kingportwirless.org they are greeted by Eastman Credit Union and GKAD and their sponsors.  

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Web-based applications and security holes in Microsoft Office are among the biggest threats faced by Internet users today, according to the SANS Institute's annual security report. Also on the rise this year was spyware, and gullible users continue to be tricked into installing malware. SANS said it takes as little as five minutes to attack an unprotected computer connected to the Internet. SANS recommends that IT administrators should use Web application firewalls as well as maintain an aggressive patching schedule. 

Security firm F-Secure is reporting a surge in 'man-in-the-browser' attacks where criminals infect PCs with malicious code that is only triggered when a Web user visits an online banking site. This malware can retrieve information - such as logins and passwords - entered on a legitimate online banking site by intercepting the HTML code in the Web browser. Criminals then store the personal data on FTP sites before selling. F-Secure says security products using behavioral analysis are the most effective against these attacks, as the malicious code is designed specifically for certain banking sites. They are not distributed en masse like phishing emails. 

A new generation of firewalls is slowly emerging with more sophisticated inspection and blocking features at higher speeds. Many are adding intrusion prevention capabilities and the ability to filter by application type. We will cover these advances in the January issue of Credit Union tech-talk - subscribe now.

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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A newly-released survey from Really Simple Systems finding that "four fifths of senior executives cite employee resistance to using customer relationship management (CRM) software as the biggest hurdle they face when implementing the technology." The survey notes that CRM adoption has always been an issue and the solution is to make the software easy to use, not more complex. They conclude that organizations need to make sure that simplicity is as important a factor as functionality when choosing CRM systems.

Integrity Solutions, a Scottsdale, Arizona based performance improvement organization that focuses on developing sales and service teams, announced the release of a new program aimed at credit union service professionals. Titled “Member Advantage,” this new program is customized specifically for credit unions, with input from Allied Solutions. Member Advantage can be customized around a specific business unit, and the firm says that it is designed to equip individuals in traditional service roles with a competitive advantage through their commitment to a member needs-focus. 

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NACHA has approved a revamp of their ACH anti-fraud system. The first phase entails NACHA's empowerment to impose fines as high as $500,000 against those who violate its operating rules, even if no complaints are filed. The second phase will involve the group's mandate that institutions furnish special reports if they are thought by NACHA to be permitting practices that create risk management problems for others on the ACH network.

In response to Capital One's issuance of a "decoupled" third-party debit card. some industry observers are recommending that credit unions will have to find ways to boost their cards' appeal, either by adding their own rewards or by embedding them within a product package that dissuades members from using the Capital One card. Also NACHA recently enacted a rule that requires each transaction by a third-party card issuer to have a separate ACH debit. This is important because it will permit the credit union to see the name of the merchant involved in the transaction and help resolve disputes.

Zopa Ltd., a United Kingdom player in the person-to-person online lending market, plans on working with several credit unions to offer person-to-person loans to prospective borrowers. Lenders can help borrowers by parking money in Zopa-branded CDs that are used to help fund those loans. Unlike Prosper and other P2P online lenders that don't guarantee lenders will get their money back, Zopa lenders should get their principal back since their deposits are insured for as much as $100,000 per credit-union member. Borrowers and lenders don't pay any fees, although borrowers -- who will need a minimum FICO credit score of 640 -- could be subject to late fees. Zopa, for its part, shares in the interest rate spread that the credit unions earn between the loans and deposits. The initial products - a basic share certificate and an unsecured personal loan - are being offered through Addison Avenue FCU, Affinity Plus FCU, First Technology CU, FORUM CU, Provident CU and USA FCU.

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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Click to call provider Ifbyphone has released a new click to call application. The firm claims that the new patent pending click to call application, Phone-Me-Now, requires zero configuration and can be integrated in less then 60 seconds into any website, email or hyperlinked document. To use Phone-Me-Now, companies need only type: http://www.phone-me-now/your-business-number into any web site, Word Document, PowerPoint Presentation, Spreadsheet, PDF or email. Because the offering requires no configuration, a reader who then clicks on the link is prompted for their telephone number and Ifbyphone's systems immediately call the company and the reader and conferences the call.

A company by the name of iPoint-media is targeting mid-size financial institutions with their video application platform. According to iPoint-media, the new video interaction center will allow the credit union's members to interact with a member service representative over the Internet via audio, video or text chat. Utilizing advanced multimedia capabilities, callers and member service reps can share video clips, documents and real-time information.

A telephony vendor has come out with a new system that can add unified communications to legacy PBXs. We will cover them in the January issue of Credit Union tech-talk - subscribe now.

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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Credit union call centers, like any type of call center, need all the help that they can get when it comes to recruiting and hiring new agents. Fortunately there are some excellent Web-based tools on the market that can help call center managers with the hiring process. We will cover one award winning system in the January issue of Credit Union tech-talk - subscribe today.

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

February 25-28, Miami - Biometric Summit

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

October 15-18, Las Vegas - Firefighters' National Credit Union Summit

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