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Credit Union tech-talk News
April 6, 2009 - April 10, 2009
General News
* Syphr Waives RateMatch Set Up Fees to Celebrate Launch
* Open Solutions Signs 4 CUs
* PSCU Financial Services Sees Success with Electronic Banking Platform
* Xtend Celebrates Fifth Year of Back Office Support
* OnPoint Community CU Partners with Tyfone
Syphr, a New York-based marketing CUSO, announced that it is waiving its set up fees for credit unions that sign up within the next three months (April-June 2009) to use its RateMatch lead generation tool. RateMatch is a performance-based advertising solution that utilizes the cost-per-acquisition model of Internet advertising. This solution offers credit unions a low-risk, high-reward advertising distribution system for generating qualified sales leads and new member prospects via online credit report outlets.
Open Solutions, a leading provider of integrated, enterprise-wide data processing technologies for credit unions throughout the United States, Canada and other international markets, announced four credit unions have selected The Complete Credit Union Solution -sme (Standard Market Edition). The credit unions are Lowland Credit Union in Morristown, TN ($60 million); Moapa Valley FCU in Overton, NV ($69 million); Western Connecticut FCU in Sandy Hook, CT ($26 million); and Woodlawn Auto Workers FCU in Buffalo, NY ($88 million).
PSCU Financial Services, the nation's largest CUSO, said that credit unions of all sizes are embracing their electronic banking platform that supports mobile, voice, consumer and small business online banking features from a single platform. Credit unions that have signed up for the electronic banking platform include: Andrews FCU, Suitland, MD; Farmers Insurance Group FCU, Los Angeles, CA; Texas Dow CU, Lake Jackson, TX; North Carolina Community FCU, Goldsboro, NC; and Quorum FCU, Purchase, NY.
Xtend, a multi-owned cooperative CUSO headquartered in Grand Rapids, MI, has entered its fifth year of providing back office bookkeeping services for credit unions utilizing the CU*BASE core data processing system from CU*Answers. Xtend formed a new SRS (Shared Resources and Staff) business unit in the spring of 2005 in an effort to provide cost-effective back office support for its credit union partners, and today their bookkeeping service remains the CUSO’s largest revenue producer.
Portland, OR-based Tyfone, a mobile financial services provider, announced that OnPoint Credit Union is planning to offer their contactless mobile payments using Tyfone’s microSD contactless-enabled memory card. Tyfone’s u4ia SMC is a memory card-based mobile contactless payments service with integrated NFC chipset, controller and integrated antenna. OnPoint CU is also setting up a Facebook-like website for its mobile banking user community.
Hardware News
If your credit union is looking to deploy thin clients or interested in desktop virtualization, BOSaNOVA wants to help. They have an offer available until May 31st that gives you one free thin client for every four thin clients that you purchase - any desktop model and any OS. If you are not sure which thin client is best for your environment, they even have a demo policy that makes it easy to decide by obtaining a free no-obligation trial unit.
The AdderView CATxIP 1000 from Adder is an affordable IP KVM (keyboard - video - mouse) unit that meets smaller organization's remote-management needs well. While it doesn't deliver the high end management features that you will find in offerings from Raritan and Avocent, the AdderView is far less expensive.
Even if budgets are tight there is a great deal that can be done to make data centers and server rooms greener and more energy efficient without spending a lot of money. We will give you some tips in the May issue of Credit Union tech-talk - subscribe today.
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Software Updates
Microsoft has long offered versions of Windows Server aimed specifically at small organizations, and they are continuing that tradition with a product named Windows Server 2008 Foundation. It is designed for organizations with 15 or fewer computer users, and will be available on systems costing less than $1,000 including software and hardware. Windows Server 2008 Foundation will only be sold prepackaged through computer manufacturers like Acer, Dell, Hewlett-Packard, and IBM, rather than as standalone, boxed software.
Smaller credit unions with limited budgets may want to check out the following free security software tools:
1: AVG Anti-virus Free Edition
2: Malwarebytes
3: Spybot - Search & Destroy
4: WinPatrol
5: Secunia Personal Software Inspector
6: Sysinternals Security Utilities
7: Online scans - Ewido Online Scanner; X-Block Free Scanner; Trend Micro Online Scanner; or F-Secure Online Scanner
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Software Section Sponsored by
Raddon Financial Group (RFG)
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ATMs/Kiosks
Some large retailers are starting to use kiosks to target consumers who don't qualify for credit. For example, a company called ReadyCredit has partnered with Macys on a kiosk solution that dispenses open loop prepaid Macy’s ReadyCARDs. The ReadyCARD, which is MasterCard- branded, offers the same loyalty benefits, such as in-store discounts and access to special sales, as the Macy’s Star Rewards card. The cards can be used to pay bills, and can be reloaded at any readySTATION kiosk, which is manufactured by NCR. To reload funds, users insert cash.
Video Display Corporation announced the introduction of its Display Concepts new low-cost drop-in replacement monitor for NCR and Diebold ATMs. The new model V084S1 display is an 8.4” flat-panel LCD to replace existing LCDs or upgrade older 10” CRTs. The company says that their Display Concept LCD technology offers brighter, sharper images than CRTs, will not degrade over time due to screen burn, and is very energy efficient.
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ATMs/Kiosks Section Sponsored by
Code Green
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Credit Union tech-talk readers receive one month of free service and free setup!
Sign up today: http://branchmap.com/cunews.html
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Biometric Digest Highlights - WWW.BIODIGEST.COM
Gemalto and Precise Biometrics have introduced Gemalto .NET Bio which is a smart card that utilizes Precise Biometrics' fingerprint technology, Precise Match-on-Card. The Precise Match-on-Card technology stores and verifies users' fingerprint information directly on the Gemalto .NET card. The fingerprint information never leaves the card and is never stored in a database, thus protecting their digital identities and privacy. The firms claim that Gemalto .NET Bio works seamlessly with a wide range of applications for Windows.
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Wireless World
INSIDE Contactless and First Data announced a three-year agreement to develop contactless payment stickers, which First Data will market as GO-Tag products. According to the companies, INSIDE will supply MicroPass payment sticker prelams exclusively to First Data-qualified card manufacturers for production. First Data will be marketing and distributing GO-Tag products to financial institutions, major U.S. merchants, and other distribution channels in a variety of form factors.
At the recent CTIA Wireless 2009 tradeshow, Verizon Wireless announced plans for a new 4G network that they claim will blanket the entire continental United States, including the far corners of rural America. They plan to roll out LTE (Long-Term Evolution) throughout the entire country, including places where they don't offer CDMA cell phone service today. Currently, only about 38% of rural American households have access to high-speed Internet connections, according to a study published by Pew Internet & American Life Project.
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Security Section
According to the Association for Financial Professionals, check-related crime remains by far the most common type of payment fraud reported by corporate financial officers. Sixty percent of the organizations that sustained losses identified checks as the payment method most responsible for them, followed by consumer credit or debit cards, 20%; commercial cards, 10%; automated clearing house debits, 5%; ACH credits, 3%; and wire transfers, 1%. According to the study, the most widely used techniques to commit check fraud were counterfeit checks using the organization’s magnetic ink character recognition (MICR) line data, with 72% of victims reporting fraud from that method; altered payee names on organization-issued checks, 59%; and altered employee paychecks, 27%.
The number of websites blocked for hosting malicious content rose by 197 percent in March, according to MessageLabs, the highest number since October 2008. They attribute the spike to a sharp increase in web-based and email-borne images with injected scripts like JavaScript and VBScript. The primary target appears to be people using older browsers without updates to prevent script execution in images.
Many consumers are turning to home safes in these troubled times as evidenced by the fact that some home safe manufacturers and dealers have enjoyed a 70% escalation in sales over the past year. But are these safes better than safe deposit boxes? David P. McGuinn, President of Safe Deposit Specialists, will cover this topic in the May issue of Credit Union tech-talk - subscribe now.
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Leaders Roundtable
Security:
Protecting Member Data at Rest and in Motion
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Technology and Marketing
AbilityCRM, a CRM seller based in Tempe, Arizona, is rolling out their myCRM-Appliance which is a CRM server appliance designed for small to medium sized organizations. The product is billed as a solution that gives customers a choice of mid-market CRM systems from either Microsoft Dynamics CRM or Sage SalesLogix CRM for 10-25 users. It features a price point between $59 and $89 per user, which includes installation, configuration, training and ongoing 24-hour system and network monitoring support.
State Employees Credit Union has experienced significant success with their Mortgage Assistance Program. The Raleigh, NC-based credit union said that they have helped more than 1,400 at-risk members keep their homes. Members meet with an SECU officer to develop individualized financial plans to develop options such as mortgage loan extensions, mortgage loan modifications or refinances, and partial payment alternatives. The MAP program also includes help with budgeting, financial counseling and overall debt restructuring.
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Online Banking/E-Commerce/Website Design
A new study sponsored by Fiserv confirms that consumers who pay bills online are more profitable and loyal to their financial institution due to their use of online bill payment services. Customers who began using online bill payment during the course of the study delivered 15 to 20% more profit to their financial institution when compared to similar customers who did not adopt the online service. Further, online bankers who paid bills online were 76% less likely to churn, or leave the financial institution.
Technology Credit Union has launched a new campaign that features an online community aimed at supporting and encouraging individuals who want to set and achieve a savings goal for themselves or their family in 2009. The campaign - Grow Your Green-The Great Savings Challenge - was recently launched at www.growyourgreencampaign.com. The site's main page will feature frequently changing content and will also showcase videos that members have created. The Silicon Valley-based credit union said that Grow Your Green was partly inspired by a similar campaign run by Members Credit Union in North Carolina.
When it comes to prepaid cards, many people think of the unbanked or underbanked. Yet according to a recent study released by Javelin Strategy and Research, households with incomes between $50,000 and $74,000 are more likely to use prepaid cards than those in other income brackets. We will cover other surprising and interesting facts about prepaid cards in the May issue of Credit Union tech-talk - subscribe now.
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Internet Access
my1voice has announced a number of enhancements to their virtual PBX phone service. Currently they support: conference calling, caller ID tagging, request routing, caller ID routing and call forwarding to an extension. The new conference calling feature allows users to bring in resources as-needed rather than having several people sitting through the entire call, and my1voice users can act as a host to bring an unlimited number of parties onto a call. The Request Routing feature asks callers to enter numbers or letters on their phones’ keypad. Once the caller enters their zip code or area code, calls are routed to an extension in that geographical area or the person with knowledge of a particular area. Caller ID Routing enables organizations to route the calls directly to an extension, mailbox, or informational message. All of these can be done based on the incoming caller ID.
Polycom announced a partnership with Microsoft to start distributing Microsoft’s “RoundTable” product – renamed the “CX5000 Unified Conference Solution.” The CX5000 is a plug-and-play device that connects to a PC through a USB connection, and the companies tout the fact that any user can walk into a conference room, plug in a laptop, and start a meeting. Specifically, the CX5000 is designed for enterprises that use Microsoft Office Live Meeting 2007 or Office Communications Server 2007 and want a simple way to add audio and visual communication to an Office Live Meeting or Office Communications Server 2007 session. The device combines content, a panoramic 360-degree view of an entire meeting room, and a separate view of the active speaker for voice and video.
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Call Centers
Avaya announced a new contact center solution called Avaya Intelligent Customer Routing that uses advanced session initiation protocol (SIP) technology. Using speech self-service, callers can provide key information such as account numbers, transaction history and their primary needs to get connected to the best available agent regardless of their location. Intelligent Customer Routing also enables a reliable transfer of caller information to the agent.
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Conferences
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2008:
April 6-8, Park City - 2009 MVi Users Conference
June 4-5, Lake Las Vegas - Credit Union InfoSecurity Conference
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