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February 28, 2011 - March 4, 2011
General News
* MVi Adds 14 New CUs in 2010
* CFMI Announces Support for 7 Cash Systems
* PSCU & Open Solutions Ink Agreement
* Georgia's Own Credit Union Selects Acumen from Fiserv
Salt Lake City-based Millennial Vision Inc. (MVi) announced that they added 14 new credit union clients in 2010 and updated 33 established credit union clients to the new MARS (MVi Archive Retrieval System) program. The company also noted that they continued growing its staff, and was ranked in the top 10 worldwide VARs from Laserfiche.
CFM Incorporated, a market leading professional software provider dedicated to servicing credit unions, core software providers and cash automation hardware manufacturers, announced that their software now supports each of the seven major cash automation manufacturers. They note that their cash automation integration software is the only zero footprint solution of its kind in the world.
PSCU Financial Services announced that it has signed an expanded agreement with Open Solutions that equips Open Solutions DNA clients in the US with even broader 24/7/365 contact center capabilities from PSCU Financial Services’ Total Member Care contact centers. Bank-Fund Staff Federal Credit Union, of Washington, DC, is the first Open Solutions client to adopt Total Member Care.
Fiserv, a leading global provider of financial services technology solutions and the largest provider of business-driven technology solutions for credit unions, and Georgia's Own Credit Union of Atlanta, announced that Georgia's Own has chosen to implement the Acumen account processing solution from Fiserv with in-house delivery. As part of a multi-channel upgrade, Georgia's Own will implement other Fiserv products, including Corillian Online for online banking, CheckFree RXP for electronic bill payment, Mobile Money for mobile banking, and ZashPay for person-to-person payments.
Hardware News
Digital Check announced the launch of the TellerScan TS240/TTP (teller transaction printer), a combination unit that incorporates check scanning and thermal transaction printing into one device. The device combines Digital Check’s TS240 batch-fed scanner, which scans at 50, 75 or 100 documents per minute, with CognitiveTPG’s A799 thermal printer. The company says that a big benefit of the TS240/TTP is that it saves up to 50% of teller counter space by combining scanner and receipt printer units, each of which previously required its own space, into one footprint about equivalent to the scanner.
Hewlett-Packard announced Intel-based business laptops with features that make it easier to swap components or fix the PCs. The new EliteBook and Probook laptops will come with Intel's latest Core i3, i5 and i7 chips, and they will feature one panel at the bottom that can be easily removed to replace the fan, hard drive, memory and networking modules. HP noted that instructions to fix laptops or swap components could be provided over the phone, which could save the time and money for IT departments.
Acer, the No. 4 PC maker in the US, has released a line of servers and storage products for the US market. For its US reintroduction, Acer has released a tower rack, blade system, and systems especially designed for cloud computing, all with a number of configurations, as well as network attached storage products. Acer believes it will be especially competitive in "option kits," or additional hard drives, memory, and other components - they claim that their option pricing will be 40% below what competitors are charging. Prices range from $721 for a tower to $10,499, for storage.
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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)
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Software Updates
M86 MailMarshal ECM is a scalable email policy management solution for Microsoft Exchange 2007 and 2010. M86 Security says that their solution is the only granular policy control solution for internal e-mail passing through an Exchange infrastructure which simplifies compliance for enterprise customers. It uses Using Deep Content Inspection technology to help ensure that inbound, outbound and internal email — including text, images and file attachments — adhere to data loss prevention requirements.
A new report from Aite Group highlights key technology trends that are shaping the future of American credit unions. Their survey revealed that credit unions are considering the following technology investments in order of importance:
- basic mobile banking
- online account opening
- mobile payments
- RDC for members
- e-statements
- consumer online banking application
- mobile P2P payments
- PFM
- RDC for business members
- BI tools
- small business online banking
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Software Updates Sponsored by
Raddon Financial Group (RFG)
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ATMs/Kiosks
NCR unveiled a new, compact ATM that they say has the power and reliability of a larger machine. The NCR SelfServ 16 is being pitched as the ideal off-premise ATM for sites with transaction volumes with as few as 500 transactions per month. It features a 2,200 note cassette, the smallest cash dispenser in the NCR SelfServ family, low power consumption, a 15” color TFT LCD display, and options for a touch screen and sunlight-readable display.
SHAZAM, a technology and operations support provider to more than 1,500 financial institutions in 30 states, will begin offering advanced ATM marketing software from NCR. The ATM marketing module provides SHAZAM's credit union clients with a centralized and secure means to run personalized direct marketing programs to members. The NCR APTRA eMarketing Preference Center works in conjunction with SHAZAM's business software to enable their clients to deliver real-time, personalized and synchronized messaging across channels in line with their preferences, such as default language, fast cash amount and receipt options.
Diebold announced that Union Square Federal Credit Union has signed with them to provide it with monitoring, remote services and enhanced security for their network of 21 ATMs. The agreement also includes the addition of Diebold's deposit automation technology to six of the credit union's ATMs. The $220 million credit union also selected Diebold to provide several integrated services, including Advisor ATM status monitoring, OpteView remote services, endpoint protection monitoring, software subscription management and help desk support.
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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:
Open Solutions
and their client is:
BECU
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
According to a survey from vendor Sybase 365, widespread adoption of contactless mobile payments is still at least two years away thanks to poor coordination between industry players. With a range of stakeholders, including mobile operators, merchants, payment processors, FIs and developers, all involved, 30% cite a lack of industry coordination as the main culprit for this delay. A lack of NFC readers at the point-of-sale was raised as a reason by a 26% of respondents and inadequate handsets by 25%.
The Center for Financial Services Innovation believes that prepaid cards are a key solution for serving the underbanked, and that mobile financial services can be integral part of prepaid cards. In addition to enabling consumers to keep close tabs on their account balances, mobile financial services can provide a number of other relevant and useful services that can lead to greater financial capability, such as budgeting tools, transaction alerts, savings reminders, mobile RDC, ATM locations and more.
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Security Section
ValidEdge has released their new Network Malware Security (NMS) system, which is a combined hardware and software solution that they say represents a new class of anti-malware security solution. The NMS system is designed to handle unknown zero-day malware or a single-target malware attack on critical assets. The NMS system includes sensor agents, system manager with black and white list scanners and an analyzer. The NMS agents passively monitor span ports of core switches or critical network segments and re-assemble packets that contain potentially suspect code. The NMS agents then forward the files automatically to the NMS Analyzer appliance.
FireEye announced their Email Malware Protection System that is designed to stop targeted email attacks, also known as spear phishing, to help prevent malware-induced network breaches and data theft. The new Email MPS features the Real-time Attachment and URL Analysis engine that evaluates emails for zero-hour malware using virtual machines that run a cross-matrix of operating systems and applications, such as various web browsers and plug-ins. The company says that this dynamic analysis enables them to detect and stop spear phishing email attacks aimed at known and truly unknown OS and application vulnerabilities.
DataMotion announced that Altra Federal Credit Union has installed their SecureMail and SecureContact cloud-based e-mail encryption technology. Using SecureMail with its existing Outlook e-mail client, the company said that the $780 million credit union now can send confidential e-mails to members and is assured that the member data and documents are being sent back and forth securely – even if the member does not have secure e-mail technology.
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Security Section Sponsored by
ISN
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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:
Whitelisting
Fighting Malware
Securing the CU Cloud
Social Media Compliance
Securing Mobile Banking
Minimizing Security Threats
Integrating Physical & Logical Security
Bringing Business Intelligence to SIEM
Single Sign-on & Strong Authentication
Card Fraud Detection & Prevention Trends
Staying Secure & Keeping the Auditors Happy
More Info & Register Now ~ 800.808.2188
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Leaders Roundtable
Security:
Securing the Credit Union from the Inside to the Outside
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Technology and Marketing
Global strategic branding firm Siegel+Gale just announced the results of its first annual Global Brand Simplicity Index, and here are a few financial services-related survey highlights:
• Consumers say they are willing to pay between 3.5 to 4% more for simpler experiences with their FIs and credit card companies
• They would also be willing to spend $2.6 billion to improve the ease of their banking experiences
• Banks and credit card companies were in the bottom five industries on the Brand Simplicity Index, with credit cards taking the bottom spot – as the most complex industry in the minds of consumers
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Technology & Marketing Section Sponsored by
MARQUIS Software Solutions
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MARQUIS will be exhibiting in booth# 254 at the GAC conference being held February 27-March 2 in Washington D.C. - please drop by for a visit!
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Online Banking/E-Commerce/Website Design
Visa has launched a new person-to-person payment service that lets consumers transfer funds in near real-time to other cards over the VisaNet network. Visa is rolling the service out internationally, with a view to capturing market share from PayPal, and emerging mobile remittance platforms. In action, senders provide their credit union with the recipient's Visa card number to initiate the payment. Visa says the process does away with the need for senders to fill out complicated forms and provide routing information. When processed through VisaNet, funds are credited directly to the eligible Visa credit, debit or prepaid account in minutes, freeing recipients from having to visit agent locations to collect cash.
OddJob is a new type of financial malware with the ability to hijack members’ online banking sessions in real time using their session ID tokens. A unique feature of OddJob is its ability to bypass the logout request of a user to terminate their online session. Because the interception and termination is carried out in the background, the legitimate user thinks they have logged out, when in fact the fraudsters remain connected, allowing them to maximize the profit potential of their fraudulent activities. Another noteworthy aspect of OddJob is that the malware's configuration is not saved to disk - a process that could trigger a security analysis application – instead, a fresh copy of the configuration is fetched from the Command & Control (C&C) server each time a new browser session is opened.
United Nations Federal Credit Union, an 88,000-member institution, was the first FI in the US to convert a card portfolio to EMV, the international technical standard for chip-and-PIN cards, Now a second credit union is making the move and we will tell you about their strategy in the March issue of Credit Union tech-talk - subscribe now.
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Internet Access
In general, Web content filtering can be done at the network edge, or you can force all access via an on-demand proxy service (web security-as-a-service). Websense is one vendor that has offered a hybrid approach for over a year now, allowing customers to define policy for both web and email security in one place to deliver on-premise or on-demand. The company says that their TRITON Security Gateway Anywhere solution gives you Web and email and data security wrapped into one product operated from one console, and that their TruHybrid email pre-filters inbound email to stop unsolicited email and malware - more than 80% of your email – from ever hitting your network edge.
Tone Software, a provider of comprehensive network monitoring and management solutions, announced the availability of SIP management through its ReliaTel VoIP quality of service (QoS) and Converged Infrastructure Management software. The solution provides the ability to monitor and analyze VoIP QoS in real-time providing immediate awareness of quality degradation occurring at the SIP trunk, and the specific metrics and facts related to quality or service issues. ReliaTel can also enable users to monitor and manage their physical SIP architecture - including session border controllers, gateways and softswitches - for device health, link status and utilization statistics.
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Call Centers
What should be measured to mark success around and continuously improve the caller experience? Every contact center has different priorities and values, but here are seven key metrics that the International Customer Management Institute (ICMI) has identified:
1. First-Call Resolution
2. Service Level/Response Time
3. Adherence to Schedule
4. Forecasting Accuracy
5. Self-Service Accessibility
6. Contact Quality
7. Caller Satisfaction
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Conferences
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk, at these upcoming conferences:
June 15-17, Las Vegas - Credit Union InfoSecurity Conference
October 9-12, New Orleans - Firefighters’ National Credit Union Summit
November 5-9, Palm Springs - Reaching Your Members in the 21st Century
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