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April 5, 2010 - April 9, 2010
General News
* Corelation Receives Commitments from First Two Clients
* PSCU Financial Services’ New Offering Helps with Reg E
* North Shore Credit Union Chooses INETCO
* T8 Webware Prepares CUs for Reg E
New core processor Corelation has received commitments from two credit unions to be the first users of its KeyStone core processing system. Both Cabrillo Credit Union ($171 million; 22,576 members; San Diego, CA) and Harbor Federal Credit Union ($84 million; 11,009 members; Carson, CA) will launch their new core systems in Q2 2011.
PSCU Financial Services launched a new Reg E-Overdraft Opt-In service called CUInitiative that provides a series of member contact options to help credit unions obtain the required overdraft opt-in. This service is available to any credit union, and is not limited to member-owners of the cooperative.
INETCO Systems announced North Shore Credit Union has purchased INETCO Insight as part of the strategy to host its own banking platform. INETCO Insight's multi-link transaction assembly gives NSCU visibility into end-to-end payment transaction paths, making it easy to oversee the performance of all NSCU partnerships and new technology components.
T8 Webware, a provider of Web development, management and hosting services for credit unions, introduced a customizable online overdraft consent form and electronic submission tool to meet credit unions’ Regulation E requirements. Included is a custom homepage ad that links directly to a Reg E description, as well as a sub-page with a statement from the credit union explaining the options to either sign-up for or opt-out of overdraft protection. The actual opt-in/opt-out form contains an official explanation of the service and the electronic submission of the member’s decision. All submitted data is then stored in a secure forms manager database and is available for export only by authorized CU personnel.
Hardware News
Dell has launched four new servers - three powered by Intel’s Nehalem EX processor and one by AMD’s latest Opteron. All of the servers have fail-safe virtualization, designed to save power and better access memory. The lineup includes:
- PowerEdge M910 is a four-socket Intel Nehalem-EX blade server. The blade can hit 512GB of RAM across 32 DIMM slots.
- PowerEdge R910 is aimed at large databases and virtualization shops. It is a 4U Nehalem-E based server with up to 64 DIMMs of memory.
- PowerEdge R810 is 2U and designed for data center consolidations. It can manage four socket workloads and handle 32 memory DIMMs on two processors.
- PowerEdge R815 is powered by AMD Opteron and can scale memory to 32 DIMMs and deploy up to 48 cores.
AMD just rolled out their new Magny-Cours chips. The 6100 series Magny-Cours processors contain eight or 12 cores (actually two four- or eight-core processors baked onto one chip) and they feature more memory and better memory management than previous chips. Each Magny-Cours processor, which is named after a Formula One race course, can accommodate up to 24 DIMM, which means they can access up to 256 gigabytes of main memory.
Storage area networks (SANs) are becoming more affordable and popular, but some credit union IT Departments are hesitant to deploy them due to complexity concerns. We will explain all of the key components that comprise a SAN in the May issue of Credit Union tech-talk - subscribe now.
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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)
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Software Updates
GnuPG & Gpg4winGNU Privacy is a free software encryption application that is interoperable with other OpenPGP compliant systems. Out of the box GnuPG provides a command line interface (CLI) with numerous optional graphical add-ons available for nearly all platforms. On Windows, there is Gpg4win, which is a unified set of graphical tools on top of GnuPG (command-line based). It offers all the options of GnuPG plus integration into Explorer for file encryption, a certificate manager application, and a plug-in for Microsoft Outlook.
Ipswitch has launched a management module designed for providing availability and performance information within VMware environments. The company says that their WhatsVirtual plug-in integrates with the vSphere API to manage ESX and ESXi hosts and their virtual machines from a single console. According to the company, the software provides intuitive drill downs from ESX/ESXi host system representations into each virtual machine, to provide administrators support for VMware actions and management tasks. WhatsUp Gold WhatsVirtual starts at $1495 and a free trial is available.
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Software Updates Sponsored by
Raddon Financial Group (RFG)
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ATMs/Kiosks
NCR is rolling out what it says is the only free-standing, weatherized and portable self-service ATM. The NCR SelfServ 28 is designed to be a free standing, fully weatherized ATM so that you can deploy it simply by just plugging it in. It is built to withstand various weather conditions. The SelfServ 28 can use wired or wireless connectivity, includes bolt holes in the bottom for securing it, and has "self-healing" technology that allows the ATM to make minor repairs without a service call.
Michigan First Credit Union has customized their ATMs to allow members to choose which bills to receive at their ATMs. The Lathrup Village, MI-based credit union made software changes to its proprietary Wincor Nixdorf ATMs called MoneyWorks Banking Centers. Since all of their machines cash checks to the penny, the changes were fairly minor. Members can choose the exact mix of bills that they would like to receive, which saves on extra trips to the teller line to break larger bills.
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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:
Enhanced Software Products (ESP)
and their client is:
Ukrainian Selfreliance New England FCU
Credit Unions - if you have a vendor that you are happy with then please let us know!
Vendors - if you have a credit union that is happy with your solutions then please let us know and we will give you a $100 discount on your Case Study!
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Wireless World
Gemalto now offers an embedded NFC chip add-on for phones that fits neatly into the phone battery compartment and connects to the metal contacts of the SIM card. While external NFC stickers provide relatively static access to a single card, the Gemalto solution provides access to all the processing capabilities on the phone and therefore can take advantage of the phone’s software and hardware capabilities.
Vertifi Software, a subsidiary of Eastern Corporate Federal Credit Union (EasCorp), announced that Texas-based Randolph-Brooks Federal Credit Union and Digital Federal Credit Union of Marlborough, MA, have expanded their remote deposit capture (RDC) services for members by launching the DeposZip Mobile program. The custom branded apps enable both credit unions to broadly deploy mobile RDC across multiple smartphone platforms including Apple’s iPhone and Google’s Android phones.
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Security Section
According to a newly released report, 64% of all the reported Microsoft vulnerabilities for 2009 could have been mitigated by using the principle of least privileged accounts. BeyondTrust’s report found the following percentage of flaws mitigated:
- 90% of Critical Windows 7 operating system vulnerabilities are mitigated by having users log in as standard users
- 100% of Microsoft Office vulnerabilities reported in 2009
- 94% of Internet Explorer and 100% of IE 8 vulnerabilities reported in 2009
- 64% of all Microsoft vulnerabilities reported in 2009
- 87% of vulnerabilities categorized as Remote Code Execution vulnerabilities are mitigated by removing administrator rights
PandaLabs has published its Q1 2010 report that shows - not surprisingly - that the amount of new malware in circulation has continued to increase. In this first quarter, the most prevalent category was once again banker Trojans, accounting for 61% of all new malware. "The growing prevalence of banker Trojans signals to us that online accounts for both consumers and businesses continue to be increasingly attractive financial targets for cybercriminals," said Sean-Paul Correll, threat researcher at PandaLabs. "In addition, the widespread availability of DIY kits online has spurred new, less technical individuals into the cybercrime business..."
Some security experts believe that isolated security zones are among the few strategies that reap a return on the investment of planning, resources, and money. We will cover various isolated security zone implementations in the May issue of Credit Union tech-talk - subscribe today.
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Security Section Sponsored by
William Rogers & Associates
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CU InfoSecurity Conference
The CU InfoSecurity Conference is the original and premier conference dedicated solely to credit union security. Here are just some of the topics that will be covered in this two and one half day security summit:
Social Networking
Phishing & Malware
Vendor Management
Virtualization Security
Security Best Practices
Controlling Admin Rights
Protecting Online Banking
Website Risk Management
Member Security Education
Controlling Employee Access
All paid attendees receive 2 complimentary room nights at a 5 star resort as part of the low conference price - the only conference in the credit union movement that makes this generous offer!
Plus multiple attendees from the same credit union attend at no charge!
More Info & Register Now ~ 800.808.2188
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Leaders Roundtable
Security:
Managing Risk and Security Efficiently and Affordably
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Technology and Marketing
If your credit union is looking to build a "green branch" or remodel an existing branch, you may want to consider these features:
- Light harvesting system, which adjusts lighting according to available daylight
- Insulation made from recycled cotton, primarily denim
- Fully recyclable carpet, window treatments and counter surfaces
- Use of water saving plumbing fixtures and control devices
- Reserved parking spots for hybrid/electric vehicles
- Bicycle racks
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Technology & Marketing Section Sponsored by
MARQUIS Software Solutions
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Contact John Kassing @ johnk@gomarquis.com to learn more.
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Online Banking/E-Commerce/Website Design
Fiserv announced a free widget that will let credit unions readily create a simplified bill payment function on the landing page of their online banking sites. For bill payments, the widget includes four fields, which ask for the biller’s name, the pay date, the amount to be paid, and the funding account. Fiserv hopes the widget will help boost adoption of online bill pay, which in turn could lead to increased member loyalty and profitability.
PSECU has launched a new section on their website dedicated to helping members make sound financial decisions. The Harrisburg, PA-based credit union's new web pages will include money management tips and tools, articles, calculators and product summaries. Also, an online poll will help PSECU make sure the information on the site stays relevant.
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Online Banking Section Sponsored by
Code Green
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Credit Union tech-talk readers receive a 10% discount!
Sign up today: http://www.codegreen.org/cuwebhunt
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Internet Access
Siemens Enterprise Communications was awarded the "Best of VoiceCon" for the company's newly announced OpenScape UC Server 2010 edition. SEC unveiled the OpenScape UC Server 2010 edition at the VoiceCon conference, along with a companion announcement that the company has entered into a strategic partnership with VMware to develop virtualized unified communications solutions. SEC has also provided new hosted editions and subscription licensing to expand deployment options with its latest release, and it has included packaged integration with social media applications.
XO Communications has launched a 40 gigabits per second (Gbps) network services in all major metropolitan markets the company serves across the United States. The company said that these new high-speed, low latency network offerings help customers with mission-critical applications.
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Call Centers
What questions should your credit union ask in your IVR survey? How many are appropriate? What rating scale should you use? We will answer these questions in the May issue of Credit Union tech-talk - subscribe now.
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Call Centers Sponsored by
Telecom Recovery
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Inbound Telecom Disaster Recovery
Nothing is more important than serving your members. Telecom Recovery, which protects the communications for dozens of credit unions across the US, has a very powerful - and low cost - technology that protects your inbound calls during any kind of outage including:
• equipment failure
• carrier failure
• network congestion
• line-cuts
• disaster
• pandemic (employees forced to work remotely)
• complete evacuation
• and more…
During any of these events your members' calls would still ring to the right people - with just a few clicks on the mouse to re-route all incoming calls and faxes.
All we need is 5 minutes of your valuable time to discuss whether there’s enough of a fit to arrange a brief Web demonstration at a later date.
Sign up now for a 5 minute consultation.
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Conferences
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2009:
May 19-21, Las Vegas - Credit Union InfoSecurity Conference
October 3-6, San Antonio - Firefighters National Credit Union Summit
November 4-6, Phoenix - Credit Union InfoTECH
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