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March 29, 2010 - April 2, 2010
General News
* Ongoing Operations Becomes a NACUSO Gold Partner
* Municipal CU Converts 60,000 Credit Accounts to PSCU Financial Services
* PayFlex Expands Health Savings Account Offering
* RingCube Announces vDesk 3.0
Ongoing Operations, a growing business continuity CUSO that has rapidly expanded to serve over 125 clients nationwide, has become the newest National Association of Credit Union Service Organizations (NACUSO) Gold Partner to demonstrate its ongoing commitment to collaboration. NACUSO was formed in 1985 to help credit unions explore the use of CUSOs and the delivery of non-traditional products and services.
Municipal Credit Union of New York recently converted its 60,000 credit accounts to PSCU Financial Services. This large credit union uses the cooperative’s Contact Center for 24/7 member service, which ensures its members have continuous access to their accounts even during disasters or emergencies.
PayFlex Systems USA, a leading administrator for employee benefit programs, announced a new and differentiated model for Health Savings Accounts (HSAs). Expanding on existing technology, the new PayFlex HSA platform offers comprehensive support for employers, credit unions and health insurance plans providing HSAs - tax-advantaged accounts available to consumers with high-deductible health plans. PayFlex says that their new custodian-agnostic product enhances flexibility and control for employers and insurers, while extending its HSA offering to any credit union.
RingCube Technologies, a leading provider of managed virtual workspaces, announced vDesk version 3.0, a high-performance enterprise desktop virtualization solution that simplifies the creation, access and management of Windows desktops. With the release of vDesk 3.0, RingCube introduces new management functionality that they say delivers scalability, faster MobileSync, support for Microsoft Windows 7 and hardware-assisted isolation control with Intel vPro technology.
Hardware News
Cisco unveiled new Ethernet access switches and enhanced routers designed to take on more of the jobs frequently handled by separate devices, such as those dedicated to handling video traffic or ensuring network security. The Catalyst 3750-X ($5,200) and 3560-X ($3,400) are stackable devices with embedded security, energy efficiency, video and mobility features. Both switches support 24 or 48 10/100/1000Mbps Ethernet ports, Power over Ethernet+ capabilities, four Gigabit or 2 10G Ethernet modular uplinks, and Cisco StackPower features for allowing switches in a stack to share a power supply. The switches also feature IEEE 802.1ae "MACSec" data encryption, which secures LANs from attacks such as passive wiretapping, masquerading, man-in-the-middle and some denial-of-service attacks. Cisco also announced that its TrustSec security architecture, which authenticates users based on identity and policy, is now available across the 3750/3560 switch lines.
Pivot3, a provider of high-end video surveillance and storage systems, announced the release of their MiniBank server which individually handles up to 70 cameras with 2 – 8 Terabytes of RAID storage. The company also announced that a new Surveillance Feature Pack would be included free of charge with all systems. The Feature Pack includes RAID 6x, which protects data in the case of five simultaneous drive failures; a Recording Interruption Alarm that alerts users if displayed video is not being recorded; and Predictive Drive Sparing, which pre-emptively identifies bad drives before they fail.
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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)
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Software Updates
PRTG Network Monitor Software provides network administrators with an easy to use device monitoring application that is scalable to networks of all sizes. This tool can help minimize downtime for critical systems by providing administrators with early warnings of outages. It uses a variety of methods from simple ping through SNMP and WMI protocols to specific tasks such as HTTP, DNS, and Remote Desktop availability using various sensors. The software is free for 10 sensors and $3,795 for unlimited sensors.
Vizioncore vRanger Pro gives IT Departments the ability to back up all of their virtual machines and the capability of restoring something, whether a domain or a single file, as it was at a point in time. For example, if you made a change to one of your servers that did not work as intended, you can use vRanger Pro to restore the virtual machine as it was prior to the upgrade. Restore time depends on the size of the virtual machine itself, but often restoring the VM, file shares and all, takes less than 30 minutes.
TRC Interactive offers credit unions their First Line of Defense Fraud Detection and Loss Prevention Challenge which is an online interactive experiential exercise that helps train employees about the latest scams. First Line of Defense, which is updated quarterly with new interactions, presents various transactions to the employee who then must determine if they are legitimate or fraudulent. Seattle-based Prevail Credit Union recently rolled out the system.
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Software Updates Sponsored by
Raddon Financial Group (RFG)
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ATMs/Kiosks
Itautec, a $1 billion Brazilian technology and electronics-equipment manufacturer, is looking to break into the American credit union ATM market. While competitors Diebold, NCR, and Wincor Nixdorf produce ATMs on a large, off-the-shelf scale, Itaurec's ATMs are custom made and can accommodate a credit union's specific requirements. Itautec says that their machines are high-performing, advanced and XFS-compliant. Itautec currently has some ATM contracts with U.S. Air Force bases and casinos, but is now looking to expand into the financial institution market.
Credit Union 24 announced that it can now bill debit card payments without personal identification numbers. The service provides credit unions the tools to deliver a payment system without implementing new or altering existing processing systems. PINless bill payment transactions allow members to pay bills using their ATM or debit card without having to enter their PIN. It works with one-time or recurring payments. Cardholders set up the transactions with their merchants via the Internet, telephone or an in-person representative. Credit Union 24's support routes the transactions to the credit unions' existing processor for approval.
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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:
INETCO
and their client is:
North Shore Credit Union
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 research conducted on behalf of mobile transaction network mBlox, respondents found mobile banking more convenient and easier to use than telephone banking by a margin of 3 to 1. Conversely, when asked about branch banking, very few respondents selected it as their favorite method of banking, with only two percent choosing it as their preferred method. Respondents rated as their top four mobile services:
- daily balance notifications
- suspicious activity notifications
- fraud alert notifications
- low balance, overdraft, and credit limit notifications
Technology Credit Union believes that the biggest threat to mobile security isn't the technology; it's the fact that many consumers are simply not aware of the many fraudulent applications that exist online and on mobile platforms. To help counter this, they have issued the following member tips for mobile banking security:
- Password-protect your mobile device and lock your device when it's not in use. Keep your mobile device in a safe location.
- Frequently delete text messages from your credit union.
- Never disclose personal information about your accounts via a text message, i.e. account numbers, passwords, etc.
- If you change your mobile number or lose your mobile phone, immediately contact your credit union to change the details of your mobile banking profile.
- Do not modify your device, as this will leave it susceptible to infection from a malware.
- When possible, install mobile security software on your device. Some mobile security solutions include: AhnLab Mobile Security, avast! PDA Edition, Kaspersky Mobile Security, and Norton Smartphone Security.
- Don't download applications onto your phone without checking them out first.
- Report any banking application that appears to be malicious to your credit union right away.
- Monitor your financial records and accounts on a regular basis and consider having electronic alerts on account activity sent to your email or mobile device. Regularly review your statements with online banking.
Just about everyone agrees that mobile banking is all about convenience, but how does it affect attrition and member loyalty? We will let you know some numbers and more information in the April issue of Credit Union tech-talk - subscribe now.
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Security Section
The FBI has tracked financial institution robberies in major cities around the U.S. for many years, but now they are going high-tech with a new website: http://bandittrackernortheast.com. It features a rotating carousel that showcases featured robberies with photos taken by security cameras and key facts about each incident, while a Google Maps gadget displays the geographic locations of the robberies. With the hope of quickly catching robbers, credit unions can send photos directly from their security cameras to the FBI site.
Biometric software security services provider Ceelox has unveiled a suite of products that address the issues regarding protection of banking information with Ceelox Financial Services. The identity access authentication and data security services are designed to help protect a credit union's data against theft, loss and misuse by securing access to core processing systems, eliminating weak password access, eliminating losses resulting from unauthorized electronic fund transfers as well as encrypt personal identifiable information. The Ceelox suite of products are comprised of Ceelox ID, Ceelox Vault, Ceelox SecureMail and Ceelox ID Online.
Cyber Operations, an Alabama-based IT security firm, announced that Bob Miles, PSCU Financial Services’ former director of security, is now their chief security officer. Miles has been director of security at PSCU for the past 15 years and now will oversee Cyber Operations’ expansion into financial services as well as integration of security solutions, audit, compliance, risk management and assessment across client solutions.
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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
Interactive Softworks announced Metaphor 3.0, the latest version of the company’s software suite that enables users to design, launch and manage member acquisition, service and retention campaigns, social media initiatives and more. Metaphor 3.0 includes:
• the ability to design and execute member engagement initiatives, including member portals, that encompass the web, IVR/VXML, SMS, email, instant messaging and social media from directly within a business process workflow
• easy-to-use templates
• social project collaboration including tools such as blogging, tagging and issue tracking
• real-time system and process usage analytics data across all media channels
• one-click automated publication
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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
Global Standard Financial, which is headed by a former Microsoft executive, is testing its all-digital check technology with an unnamed financial institution and is in talks with other financial institutions. Using an electronic payment order (EPO or digitally originated check), a consumer can enter payment information on a PC or handset. Special software would create a check image from the data and send it to the payee, who would then deposit the image electronically with their credit union. The image can then be processed under Check 21 rules. GSF has received patents that cover certain technical processes surrounding EPOs, including the extension of legal protections to payees and payors and encryption technology that increases the security levels of EPO transactions.
Personal Financial Management (PFM) packages are multiplying as their popularity increases. We will cover the two latest entrants in the marketplace in the April issue of Credit Union tech-talk - subscribe today.
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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
Hosted PBX vendor ConnectMeVoice is offering a new feature that they say delivers true ACD calling features. It includes the ability to choose between rotational, sequential, most idle and skills based routing. ConnectMeVoice’s services include hosted PBX, 800 number, inbound and outbound fax, auto attendant and more.
Diebold is partnering with Verizon Business' network implementation services to provide physical security solutions to its customers. Diebold will combine Verizon's Internet Protocol network and IT capabilities with its own integrated physical security solutions. Verizon Business' global IP network will connect hardware and software that powers Diebold's physical security solutions in select deployments. Diebold will then utilize the network to deliver its managed security services, such as alarm monitoring, managed access control, remote video monitoring and network monitoring.
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Call Centers
Evaluating team leaders calls for different criteria than regular agents. Some contact centers use some or all of the following items in their evaluations:
- personal attendance
- personal punctuality
- completion of required number of quality monitoring sessions
- feedback and coaching provided within 24 hours of quality monitoring sessions
- attendance management statistics completed
Team performance
- average quality %
- highest quality %
- lowest quality %
- total number of sick hours and % sickness
- total number of AWOL hours and % AWOL
- number of occasions of lateness and amount of time lost to lateness
- AHT within agreed range
- staff available for agreed % of day
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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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