Credit Union tech-talk News

March 24 - March 28, 2008

• 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

* Fiserv Introduces MyMoney Solution for Facebook
* CU*Answers Adds 7 New CU*BASE Clients 
* Sharetec Systems Adds 6 New Core Processing Clients
* iPay Forms Alliance with Enhanced Software Products
* Provident Credit Union to Convert to ORCC 

Fiserv has introduced MyMoney, which is built on the Facebook Platform, that enables members to manage their finances from their Facebook profile, simply and securely. With MyMoney, Facebook users can search for a new credit union online, and credit union members can view account balances, review history, transfer money between accounts, and more, directly through Facebook – which is the sixth most trafficked website in the United States. MyMoney can be made available to any credit union, regardless of its core processing system.

CU*Answers, a CUSO with clients in 16 states, announced several recent client contract signings to convert to its enterprise CU*BASE Processing System. These client signings include: Federated Family Credit Union – Milwaukee, WI; Chiropractic Federal Credit Union – Farmington, MI; Sentinel Graphics Federal Credit Union – Ft. Lauderdale, FL; Lake Huron Credit Union – Saginaw, MI; Allegius Federal Credit Union – Burns Harbor, IN; New Horizons Credit Union – Cincinnati, OH; Franklin County School Employees Federal Credit Union – Columbus, OH.

Sharetec Systems, whose core data processing system is utilized by more than 300 credit unions nationwide, announced that it has been selected by several credit unions to replace their current core solution. Client signings include: Deer River Cooperative Credit Union – Deer River, MN; Dubuque Teachers Credit Union – Dubuque, IA; Great Lakes First Credit Union - Escanaba, MI; Haynes Community Credit Union – Kokomo, IN; Members Financial Federal Credit Union - Midland, TX; Tri-State Federal Credit Union - Midland, PA.

iPay Technologies, a provider of electronic bill payment products and services for credit unions, announced an alliance with Enhanced Software Products, Inc. (ESP), a core processing provider for credit unions. As part of the partnership, ESP will deploy integrated consumer and business bill payment solutions from iPay through its home banking application to its credit union clients. 

Online Resources Corporation, a leading provider of web-based financial services, announced that Provident Credit Union has signed a new multi-year agreement for Online Resources’ retail and business banking, payment and other services. Provident, one the nation’s largest credit unions with approximately 100,000 members, has chosen Online Resources’ full suite of retail services including Internet banking, integrated bill payment, ACH, account opening, online lending, and the personal financial management service, Money HQ.  

Hardware News

Chip specialist Hifn has announced de-duplication cards that it says can add data reduction capabilities to an iSCSI or NAS server, by off-loading the processor-heavy job of identifying repeated or redundant data. Hifn's Express DR 250 and 255 cards include a dedicated co-processor which accelerates the hashing of data blocks. A hash function processes each block into a key or signature; identical blocks have the same key and need only be stored once, with subsequent copies replaced by a pointer to the first. The two cards - the 250 is a 64-bit 133MHz PCI-X version, while the 255 is for PCI-Express x4 systems - can process data at up to 250Mbit/s, and can do encryption up to 256-bit AES. Both have a list price of $1,195 

In 10 metro areas across the country, the United States Postal Service has launched a new pilot program that allows people to submit old inkjet cartridges, toner cartridges, and small electronics for proper disposal and recycling via free pre-paid mailers that customers can pick up at Post Office branches. If the program is successful, it could be expanded nationwide by this fall. The small electronics that can be submitted include PDAs, smartphones, standard cellphones, digital cameras, and MP3 players.

Developing a cost-effective, timely, and reliable data backup strategy can be difficult. As data volumes grow, credit unions need a solution that can handle backing up more data faster without adding complexity to the backup process. Tape certainly can't fill this bill, but disk-to-disk solutions such as SAN or Virtual Tape can increase capacity and backup speeds. We will cover one elegant removable-disk backup solution in the April issue of Credit Union tech-talk - subscribe now.

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ATMs/Kiosks

According to research from Boston-based Aite Group, the number of ATMs in the United States fell by 9 percent in 2007. ATM deployers are under increasing pressure from 'cash back' merchant point of sale transactions from PIN-based debit cards. Plus the fact that cash use is going down - The Nilson Report reported that cash accounted for 35 percent of the 137 billion payment transactions in the United States in 2006, which is down 44 percent from 117 billion transactions in 2001. 

Tellagent, a CUSO of New Jersey-based Paragon Federal Credit Union, has ordered 10 Cash Express kiosks from PSI Corp. Paragon said last week it is partnering with Lower East Side People’s FCU in a pilot program to test the new self-service kiosks, in preparation for a national roll-out. 

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We recently covered how VeCommerce, a speech self-service company based in Acton, MA, offered a $1000 prize if anyone at a conference could "fool" VeVerify, the VeCommerce voice biometrics application, and how VeCommerce emerged the winner. Now the firm is offering an online demonstration of how its technology operates. Visitors can register their own voice profile and then use it to authenticate the 'transfer' of funds to a mock banking site: http://www.veverify.com/ 

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Mobile banking provider Monitise announced the launch of MoniGive, a service which will enable members to make charity donations directly from their credit union account using the Monitise secure mobile banking and payments service. MoniGive allows charities of any size to receive donations directly from members' credit union or card accounts. The service is accessed via the secure Monitise application, making the mobile phone a virtual 'collection box'. 

A new study from Javelin Strategy & Research shows that security concerns are continuing to prevent take-up of mobile person-to-person (P2P) payments, with just one in ten Americans willing to use the services. Almost two-thirds of respondents said enhanced security would encourage them to use mobile P2P payments. Javelin says even "tech savvy" consumers, while interested in mobile P2P payments, "strongly fear" the loss of personal information (62%) and fraudulent transfers (52%). 

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The new $5 bill is coming off the presses. The Federal Reserve says that the new $5 bill incorporates security features that are easy to use by cash handlers and consumers alike. There are now two watermarks on the redesigned $5 bill - the second watermark, which is a column of three smaller "5"s, is positioned to the left of the portrait. An embedded security thread runs vertically and is now located to the right of the portrait on the redesigned $5 bill. The thread glows blue when held under ultraviolet light. 

Security vendor Sophos announced Sophos Endpoint Security and Control 8.0, which incorporates Network Access Control (NAC) technology to go beyond reactive and proactive anti-virus software. Sophos says that its integrated NAC and application control technology gives administrators the confidence that all the computers on their network are updated with the latest security patches and are only running authorized software. 

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Security:

Perimeter, Host and Endpoint Security – Finding the Right Mix

Arcot - http://www.arcot.com   Read R. 'Doc' Vaidhyanathan's comments: http://www.cunews.com/roundtable/Arcot.pdf

Astaro - http://www.astaro.com Read Alex Quinonez's comments: http://www.cunews.com/roundtable/Astaro.pdf

Code Green Networks - http://www.codegreennetworks.com   Read Brian Czarny's comments:   http://www.cunews.com/roundtable/CGN.pdf

Digital Resolve - http://www.digital-resolve.net Read Dennis Maicon's comments: http://www.cunews.com/roundtable/DigitalResolve.pdf

e-DMZ Security - http://www.e-dmzsecurity.com   Read Kris Zupan's comments:   http://www.cunews.com/roundtable/e-DMZ.pdf

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

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

HEIT - http://www.goheit.com   Read Dan Holt's comments:   http://www.cunews.com/roundtable/Heit.pdf

Integrated Computer Solutions - http://www.icsinc.com   Read Stephen Goldsby's comments:   http://www.cunews.com/roundtable/ICS.pdf

MagTek - http://www.magtek.com   Read Kiran Gandhi's comments:   http://www.cunews.com/roundtable/MagTek.pdf

Netsecuris - http://www.netsecuris.com   Read Leonard Jacobs' comments:   http://www.cunews.com/roundtable/Netsecuris.pdf

Network Box - http://www.networkboxusa.com   Read Pierluigi Stella's comments:   http://www.cunews.com/roundtable/NetworkBox.pdf

Perimeter eSecurity - http://www.perimeterusa.com   Read Kevin Prince's comments:   http://www.cunews.com/roundtable/Perimeter.pdf

Proofpoint - http://www.proofpoint.com   Read Sandra Vaughan's comments:   http://www.cunews.com/roundtable/Proofpoint.pdf

Sydel - http://www.sydelcorp.com   Read Antonio Gonzalez's comments:   http://www.cunews.com/roundtable/Sydel.pdf

TraceSecurity - http://www.tracesecurity.com   Read Jim Stickley's comments:   http://www.cunews.com/roundtable/TraceSecurity.pdf

TriGeo Network Security - http://www.trigeo.com   Read Michelle Dickman's comments:   http://www.cunews.com/roundtable/TriGeo.pdf

ZixCorp - http://www.zixcorp.com   Read Dena Bauckman's comments:   http://www.cunews.com/roundtable/Zix.pdf

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Sage Software announced a strategy revamp which will see Web 2.0 functionality merged into its CRM (customer relationship management) products in an attempt to take on Microsoft and Salesforce.com. For all three of Sage's CRM product lines - ACT by Sage, Sage CRM, and Sage SalesLogix - the company has already introduced Internet mashup capabilities. Sage's new CRM products will be available as in-house or software-as-a-service (SaaS) deployments. They will incorporate Internet and Web 2.0 standards, enabling organizations to draw information from external sources such as LinkedIn.   

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NACHA is urging credit unions to step up preparations for the introduction next March of new rules for international ACH transactions (IAT) which will require payments to carry remittance information identifying the sender and recipient. NACHA says the new rules, which come into effect on March 20, 2009, require all American financial institutions sending and receiving cross-border ACH payments to incorporate remittance data identifying all the parties to the transaction. The new rules are designed to permit financial institutions to perform due diligence with respect to each international ACH payment as required by OFAC.

The development of electronic lien and title systems (ELT or e-Title) has served to save many trees and improve efficiency of communications between credit unions and state DMVs. According to VINtek, a leading provider of in Electronic Lien and Title solutions,, Arizona, California, Florida, Hawaii, Idaho, Massachusetts, New York, Ohio, Pennsylvania, South Carolina, Virginia and Washington have fully operational ELT programs, and Georgia will soon join their ranks. Pennsylvania has even gone so far as to require auto lenders to use the Pennsylvania ELT system, and other states are pursuing similar legislation.

Raleigh-based Local Government Federal Credit Union has launched a new kids website: www.lgfcukids.org. It is designed so that young members can have fun learning basic financial concepts from saving and interest to budgeting. The site features a fictional online world, Penny Hollow, that is populated by a group of five mascots.

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Avaya is targeting smaller organizations with their hosted unified communications solutions. The solutions are divided into a few categories, teleworkers, mobile workers, home agent and small businesses. In each case the solutions are tailored to meet the needs of the specific environment. The company also has a solution focused on financial institution branches. You choose between a thick or thin client, both of which can integrate with Microsoft and IBM platforms, plus you receive access to about 700 or so Avaya communications features via your UC client. 

Nortel and Tandberg have agreed to jointly deliver more compatible, fully-managed telepresence and high-definition video conferencing solutions. Video conferencing is one of the new “green” technologies of the 21st Century, as it enables face-to-face communications and collaboration without requiring people to travel. These solutions will be offered through service providers or direct from Nortel. The firms say that the solution is a fully-managed service, delivered over an organization's IP network, and they claim that it will have no impact to existing VoIP and data applications.

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WebAstra is an affordable, full-featured Web-based call center solution from 3CLogic. Designed for smaller organizations, this on-demand VoIP call center system delivers many of the features and capabilities found on advanced, on-premise enterprise systems. 3CLogic claims that you can set it up in about 30 minutes because all you need is a broadband connection, some PCs and the phones. With WebAstra, you pay based on the amount of time (i.e. the number of minutes) you use the system, multiplied by the number of seats. The company offers three basic pricing packages covering your spectrum of usage, and all of the software is included.

Pennsylvania State Employee's Credit Union (PSECU) has successfully deployed a state-of-the-art contact center solution from IBM and Avaya. By combining real-time and non-real-time information, MSRs have a full view of a member's interactions and account history including previous telephone conversations, email exchanges, chat sessions and account access attempts.

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Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2008:

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

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

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