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December 28, 2009 - January 1, 2010
* Grand Forks District Savings CU Selects Open Solutions’ BizFlow Grand Forks District Savings Credit Union announced it has expanded its relationship with Open Solutions, a leading provider of integrated enabling technologies for credit unions throughout the United States, Canada and other international markets. The credit union added Digital Document Systems BizFlow, an application designed to streamline and automate business processes. LaCie just introduced the 2Big USB 3.0, a RAID array the uses the new USB 3.0 connectivity standard. Using a USB 3.0-compliant dual SATA and RAID bridge controller from Symwave, the 2Big USB 3.0 has a pair of hard drives that can be used as either a RAID 0 or RAID 1 array. LaCie says the 2Big USB 3.0 is capable of burst read speeds of up to 275MB per second. The 2Big USB 3.0 is available in capacities up to 4TB and will start shipping early next year.
Velocity Solutions is offering credit unions a new software package that is designed to help them manage the new Reg E opt-in process that will go into effect July 1, 2010. The recent changes to Reg E require all members to opt in, or affirmatively consent, to overdraft services for ATM and one-time debit card transactions before overdraft fees can be assessed. Velocity Solutions says that their Reg E Opt-In Solution utilizes proprietary analytics, segmentation and communication methods to target account holders that will be impacted the most by the new regulatory changes.
In an effort to go green and save on high electricity costs, India's IndusInd Bank is rolling out solar-powered ATMs. Solar-powered ATMs are just one part of their green strategy that also includes thin computing, e-archiving, e-learning, e-waste management, paperless fax, energy conservation, and CNG cars.
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Biometric Digest Highlights - WWW.BIODIGEST.COM ATMCASH announced the launch of its new service that lets consumers schedule transfers and send money online and via the phone to more than 150 countries and more than 1,500,000 million ATMs worldwide. ATMCASH uses secure encryption and says that they are the only company in the money transfer industry that uses voice verification technology. With voice verification, ATMCASH says that they can accurately and reliably identify consumers and make sending money over the phone safer and more convenient.
Contactless smart card technology is a proven smart card technology that has the ability to manage, store, protect and provide access to secure data. According to research firm RNCOS, contactless smart cards have a bright future. In their report entitled “Smart Card Market Forecast to 2012”, the firm predicts that the total contactless smart card shipments are projected to grow at a CAGR of over 25% during 2010-2012. Fraud schemes - old ones as well as new variations - were abundant in 2009, and unfortunately it appears that 2010 does not promise to be any better. Some experts believe that the following schemes will be prevalent next year: Core Systems: Helping CUs Focus on Opportunities
Fiserv is targeting financial institution Marketing Departments with their EnAct solution, which the company says is an enterprise sales management program built on the Microsoft dynamics CRM platform. The software integrates with Microsoft Office's Outlook, allowing marketers and other credit union employees to recognize valuable members and identify opportunities to expand relationships. Fiserv says EnAct also provides credit union managers and executives with vital data and tools to manage sales performance across the credit union. Online Banking/E-Commerce/Website Design According to a new report from research firm Gartner, security measures such as one-time passwords and phone-based user authentication, considered among the most robust forms of security, are no longer enough to protect online banking transactions against fraud. Because any authentication method that relies on a browser can be attacked and defeated, Gartner says that credit unions need to start using server-based fraud detection to monitor transactions for suspicious behavior. The goal should be to monitor login, navigation and transaction activity to spot any abnormalities that might suggest an automated program is accessing an application rather than a person. Fraud monitoring tools also need to be deployed to help verify that any transactions being initiated by a member fit previous usage patterns and are not significantly different from that member's profile. Allworx announced its new Mega-Release 2009 for IP-Based PBXs. The company claims that smaller organizations now have access to advanced communications capabilities that were previously reserved for only the largest of companies. Key features announced as part of the release include System 7.1, advanced multi-site capabilities, mobile link, automatic call distribution, third-party interoperability and a software maintenance plan. Because agent turnover is so prevalent and expensive in contact centers, many centers are spending more time at the outset to ensure a good fit. Some do testing during the first interview, and if they feel they have a viable candidate, they ask them to side-jack with an experienced representative for 20 to 30 minutes. After this hands-on experiences. they perform a second interview and ask the candidate if they realistically see themselves doing this job for 8 hours a day, If the response is positive, some contact centers have a Supervisor - as opposed to an HR person - make the offer which they feel helps make a "connection" with that person right from the start and will make them feel a part of the center.
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:
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2009: February 21-25, Washington - CUNA Governmental Affairs Conference May 19-21, Las Vegas - Credit Union InfoSecurity Conference |
