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June 29, 2009 - July 3, 2009
General News
* Delta Community CU Selects Fiserv's Mobile Money
* Network Box Adds iPhone/iPod Touch Application
* Lender*VP Goes Live with Experian Authentication Services
* 3VR Security Releases CrimeDex 2.0
Fiserv, a leading global provider of financial services technology solutions, announced that Delta Community Credit Union, one of the nation’s largest credit unions, has selected Mobile Money from Fiserv to provide its members with mobile financial services. Mobile Money was selected for its “triple play” technology, which allows members to access their accounts using any one of the three mobile access modes, and because it can be modified to provide additional mobile banking and payment capabilities as the market evolves.
Network Box Corp., a worldwide managed security company, now has an Apple iPhone/iPod touch application, according to its American arm, Network Box USA. The application gives customers mobile access into the Network Box Office Customer Portal, a web-based user interface that provides real-time status of their Network Box appliances and enables two-way communication with the company’s network operating centers that monitor the equipment and networks.
Lender*VP, CU*Answers’ division of Lending Products and Specialists, announced the complete integration of CU*BASE and Experian Authentication Services Level One (AS1). Credit unions enrolled in Experian’s AS Level 1 service are able to view data online without a laborious validation procedure.
3VR Security announced the release of CrimeDex 2.0 which incorporates several highly requested new features including a collaborative group interface, video and image support, and complete integration capabilities with the 3VR surveillance platform. 3VR says that CrimeDex 2.0 also provides the ability to search a comprehensive Web-driven database of complete profiles of more than 14,000 criminal suspects, expedite investigations and securely share critical information.
Hardware News
QNAP introduced its SS-839 Pro Turbo NAS, the “world’s smallest 8-bay, Intel Atom network attached storage” device, which supports eight 2.5-in. hard drives or solid state drives. Intended for business users who are looking for high performance, stability, scalability, low noise and low power consumption, the SS-839 Pro offers a low-power Intel Atom N270 1.6GHz CPU, disk on module (DOM) architecture, and 2GB DDR2 memory. Total storage capacity for the unit is 4TB, and the device also features 2 eSATA and 5 USB ports for storage expansion and external storage backup. Power consumption of the NAS with 8 hard drives installed is about 34W, which the company says is almost 60 percent less than general 8-bay, 3.5-in. NAS.
Dell's Data Center Solutions group is building a low-cost, low-power mini-server that uses a netbook chip. The mini-server, known as the XS11-VX8, almost fits in a 3.5-inch floppy case and requires a fraction of the power of a typical enterprise server. Dell can fit 12 servers in a 2U rack, allowing for a higher density of servers per data center cabinet, without appreciably increasing the power consumed.
QLogic just launched the 10Gbit Ethernet adapters, which they call Intelligent Ethernet adapters. The firm differentiates them from so-called 'dumb' Ethernet adapters that only handle a single protocol (Ethernet) and don't perform any TCP offload processing. In contrast, the 10G Ethernet adapters QLogic provides handle multiple protocols (Ethernet, Fibre Channel over Ethernet and iSCSI) and also perform protocol offloads, which reduce CPU utilization.
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Software Updates
Some people believe that SecureZip is a cut above other compression utilities due to the fact that PKware developers have figured out how to make digital signing and asymmetric encryption simple to use. Of course, the person receiving the encrypted Zip file must install SecureZip as well, but it is a very simple install. SecureZip's PKI setup is also streamlined and straightforward - everything is based on your name and e-mail address. SecureZip digital ID is offered by Comodo, and SecureZip is free.
While the cost of outsourced email is easy to determine since many providers, including Microsoft and Google, publish their per-user per-month costs, the cost of running email on-premises can be somewhat difficult to quantify. That is because in-house email costs are spread throughout the budget: some in the hardware budget, some in the software budget, some in the storage budget, some in the cost of capital budget, some in the staffing budgets, etc. Some experts contend that when you factor in servers, storage, server software, software maintenance, hardware and software administration, power, archiving, message filtering, etc, you will find that the cost of email will run from $25 to $40 per user per month.
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ATMs/Kiosks
Diebold is launching their newly developed Enhanced Note Acceptor (ENA), a cash-accepting device for ATMs. The ENA enables the deposit of up to 50 mixed-denomination notes in an envelope-free transaction that authenticates and validates deposits. Diebold said that the ENA module further enhances the flexibility of thier full-function Opteva terminals and is offered as a standard feature or as an onsite field upgrade.
A British credit union, Nationwide Building Society, is giving thanks to Acketts Group Limited for preventing the theft of one of their ATMs. One of their branch ATMs was recently attacked by a large forklift, but the machine could not be removed. The ATM was protected by the Acketts ATD (Anti-Theft Device), which absorbed all the stresses generated during the attack, with the steel stretching and absorbing the impact and force.
A recent survey by security vendor Actimize shows that almost 70 percent of financial institutions experienced an increase in ATM/debit card fraud claims in 2008 compared to 2007. Some only saw modest growth of 5 to 10 percent, but others experienced major jumps anywhere from 15 to 75 percent. We will cover the top ATM/debit card fraud trends in the July issue of Credit Union tech-talk - subscribe today.
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Biometric Digest Highlights - WWW.BIODIGEST.COM
Windows 7 will include biometric APIs that will make it easy for third party developers to add their applications to the OS. Makers of fingerprint sensors, such as AuthenTec, worked with Microsoft to develop the APIs. In Windows 7, biometric devices will be easily managed through a control panel applet.
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Wireless World
Minnesota-based Veritec has unveiled security technology that enables users to turn their debit card on and off with their mobile phones. Under the program, card issuers can provide Veritec's MTC (Mobile Toggle Card) branded debit or gift cards which users can toggle on and off with their mobile phones to prevent fraudulent use. In addition, cardholders can also elect to receive various alerts on their mobile phones about activity on their card.
Microsoft is putting the finishing touches on the next major Windows Mobile release, to be known as Windows Phones. This new generation of Windows Phones will be based on Windows Mobile 6.5 and will feature devices with a new finger touch screen interface and rich browsing experience. In addition, Microsoft is introducing two new services: one called Windows Marketplace for Mobile, a new online shopping tool for mobile phones that will be accessible via Windows Phones and the Web; and Microsoft My Phone, a service that synchronizes text messages, photos, videos and contacts with a central site on the Web.
Visa has launched a Mobile Payments Alliance that they claim will solve the revenue problem for all players in the m-payments chain, including credit unions. We will explain how it works in the July issue of Credit Union tech-talk - subscribe now.
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Security Section
Vamosa, provider of software and solutions for Enterprise Content Governance unveiled Check & Fix, which they say is the first website content monitoring service that checks and automatically fixes errors. The website monitoring application will be delivered to customers as a Software-as-a-Service (SaaS) through Vamosa's Check & Fix Portal.
According to independent testing company AV-Test, Microsoft's free security software passed a preliminary antivirus exam with flying colors. They put it up against nearly 3,200 common pieces of malware culled from the most recent WildList, a list of threats actually actively attacking computers. AV-Test also measured Security Essentials against a set of in-house false positives to see whether the software mistakenly fingers legitimate files, and none of the clean files were flagged as being malicious. AV-Test also examined the program's anti-rootkit skills and its ability to scrub a system of malware it finds with a limited number of samples and "found no reasons to complain." Observers say that it is likely that Microsoft will deliver Security Essentials before it ships Windows 7, which is slated to debut Oct. 22.
At the recent America's Credit Union Conference & Expo, a CUNA Mutual risk expert outlined the “10 Hottest Schemes in 2009:”
1. Phishing, smishing and vishing
2. ID fraud
3. System intrusion
4. Cyber crime
5. Data breaches
6. Transaction fraud
7. Mortgage fraud
8. Internal fraud
9. External fraud involving numerous and varied scams
10. Other emerging risks, involving compliance and regulation, new account, existing account, and check image home banking fraud.
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Leaders Roundtable
Online & Mobile Banking:
Saving Costs & Increasing Marketshare
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Technology and Marketing
A new report from Aite Group identifies why customer relationship management (CRM) efforts have failed to help many financial institutions achieve their marketing goals thus far. After years of CRM investments that have failed to improve consumer loyalty, Aite Group believes that FIs' spending on CRM will stagnate until the end of 2009. According to the CRM vendors interviewed for the report, improving cross-channel marketing capabilities is the highest business priority for FIs' CRM investments, followed by improving campaign response rates. Ron Shevlin, senior analyst with Aite Group and author of the report, concluded that the "Aite Group believes that the next generation of CRM will be focused on building what we call a 'sense-and-respond' marketing capability: The ability to sense consumers' needs and intentions based on their behavior, and respond with the appropriate advice, guidance and offers."
Some industry observers and representatives claim that the Credit Card Accountability, Responsibility and Disclosure Act enacted last month spells the end of the credit card as we know it. We will explore this theory and arguments against it in the July issue of Credit Union tech-talk - subscribe today.
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Online Banking/E-Commerce/Website Design
A new service by CashEdge lets users send money to friends and family through a text message or email. The new service, called POPmoney, will let consumers “Pay Other People” through their credit union’s online or mobile banking application by providing the recipient’s email address, cell phone number or account number. Once users enter their friends’ information online, they would be able to send the person-to-person payments directly from their cell phones. However, whereas PayPal and some other money transfer services can be used by persons without FI accounts, POPmoney won’t work unless both sender and receiver are banked.
Security vendor Gemalto has unveiled a combined one-time password generator and screen capture authentication reader for online banking that enables users to identify themselves by reading data displayed on their computer screen. Online bankers put their ATM card in the reader to check the PIN before placing the tool in front of their PC screen. The reader displays the transaction data for the customer to sign. Finally the reader displays a one-time password code for the user to enter.
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Internet Access
SIPfoundry announced the latest launch of its open source enterprise IP PBX unified communications solution, sipXecs. The sipXecs UC solution offers unified messaging, click-to-call, find-me/follow-me, personal auto-attendant, personal conferencing and assistance for high definition audio, and instant, live information exchange for voice, video, instant messaging, conferencing and telepresence. The software also binds smoothly with other solutions available in the market today, like Microsoft Outlook, Active Directory and Exchange. The latest version release 4.0 brings on board new features like SIP trunking, Web Services, assorted new applications and cluster management which is primarily aimed at cutting down maintenance costs.
Qwest and IBM have signed a five-year agreement that will give Qwest customers access to several IBM managed services targeted at medium-sized organizations. The services offered break down into three categories: managed security services, network management services and advanced unified communications services. Essentially, Qwest will handle the network connectivity side of the equation while IBM will tackle the managed services themselves.
Sagem-Interstar announced that Aventa Credit Union has become a XMediusFAX AXP client. The Colorado-based credit union will use the secure IP-based fax server solution to transmit mortgage documents, loan applications, pay stubs, title guarantees, and other sensitive documents. HEIT, a financial industry system integration specialist and Cisco Silver Certified Partner, steered Aventa to replace its fax machine and fax service environment with Sagem-Interstar's XMediusFAX AXP edition FoIP software to help them optimize faxing across all of their branches.
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Call Centers
eGain Communications has come out with eGain® IVR. The California-based company says that it is a first-of-its-kind voice self-service solution that enables superior phone self-service experiences by adding human-like intelligence to IVR and unifying it with other interaction channels, including web self-service. eGain IVR comes in two flavors:
- eGain IVR (Standard) helps handle informational and transactional customer service queries, using the capabilities of the eGain CIH platform, such as the common multichannel knowledge base, interaction records, customer database, and integration with backend systems.
- eGain IVR (Advanced), in addition to the standard solution, includes the Guided Help module, which uses their CBR technology of eGain Inference Reasoning Engine. By enabling interactive dialogs that simulate customer conversations with the best human agents, the module allows organizations to offer self-service for complex interactions that would usually need the intervention of experts. Examples of these interactions include troubleshooting, offering expert advice, and cross-selling and upselling within the context of service.
A study by KPMG analyzed six credit unions’ transition to PSCU Financial Services’ call center services and the subsequent business impact. According to the report, abandon rates dropped from up to 15% to an average of 3%; speed of answer improved from 2-4 minutes to 30-40 seconds; and single call resolution rates jumped to 86-96%. PSCU Financial Services’ Contact Centers serve 1,300 credit unions and handle 16 million calls a year.
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Conferences
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2009:
October 4-7, Las Vegas - Firefighters' National Credit Union Summit
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