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Credit Union tech-talk News

May 18, 2009 - May 22, 2009

General News

* MVi to Release E-View
* Newrizons to Convert to CU*NorthWest
* Apple Advertising Debuts Low Cost Online Account Opening Software
* Patelco CU Fights Online Fraud with IDology

Millennial Vision Inc. (MVi), a national reseller of Laserfiche document management solutions to credit unions, will release its newest web-based document management tool, E-View, next month. MVi’s E-View solution provides credit union account holders with complete and immediate secure access to copies of their stored financial records over the Internet. E-View works by providing members with the ability to retrieve specified document types such as statements, deposit records, receipts, loan documents, and much more – whether from their office, home, or on the road through a safe, secure web interface.

CU*NorthWest, a 100% credit union-owned CUSO located in Liberty Lake, WA, announced that it has begun the conversion effort for Newrizons Credit Union in Hoquiam, WA in anticipation of a scheduled August 2009 conversion. Newrizons will convert from an in-house processing environment to CU*NorthWest’s online solution.

Asheville, NC-based Apple Advertising announced that they are now offering credit unions Online Account Opening software that is safe, simple and quickly implemented, and is designed to gather new members and Internet deposits. The low cost software supports a wide variety of deposit account types, minimum deposit amounts (including tiered accounts) and account terms. The solution requires no involvement with a core processor.

IDology, a leading provider of identity and age verification solutions, announced that Patelco Credit Union, one of the largest credit unions in the country, is using its ExpectID identity verification suite to streamline their online account origination process and fight fraud. Patelco uses IDology’s ExpectID IQ solution to present online member applicants with a brief set of multiple choice questions that are dynamically generated in real-time. IDology also searches multiple watch lists so that Patelco can comply with the USA Patriot Act.


Hardware News

Although UPS units are made to sustain power in the case the main power fails, they typically aren’t designed to bridge a longer power outage. Rather than trying to serve that role, UPS devices have become more efficient and smarter when it comes to handling power emergencies. For example, Eaton’s Powerware PW5130 can perform a smart, staggered shutdown process for multiple devices such as servers, routers and more. Thanks to three different power outlet groups, it is possible to switch off some devices right away, continue with server shutdown after a few minutes, and make sure that network relevant devices stay up for as long as possible. The Powerware PW5130 also supports battery hot-swapping and online expansion through external battery modules.

Xerox is taking 'green' printers to another level by eliminating one of the most wasteful aspects of printing: the ink cartridge. With the new ColorQube 9200, the ink comes in the form of small sticks, resembling pieces of chalk. Once an ink stick is exhausted, you insert a new one - there's nothing to throw away or recycle. Plus, apart from the ink sticks used in the machine there is only one other consumable supply item: a cleaning unit that has a life of 200,000 pages and a list price of $140. Now for the bad news: the ColorQube 9200 Series is priced starting at $23,500.
 

Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)

 

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Software Updates

According to a survey by Network Instruments, IT departments are deploying virtualization, but still most don't feel comfortable with the tools and technologies they have in place to manage application performance or troubleshoot problems in the virtual environment. When asked what the primary troubleshooting problem was, 78% said identifying the problem source. A distant second (37%) identified monitoring bandwidth consumption as a problem area, while 36% pointed to measuring latency on applications as a concern. About one-fourth reported that handling user complaints challenged them most when managing application performance and 16% cited managing application patches as their primary problem.

Virtualization vendor Parallels announced that they are developing a tool that will allow users to run Windows XP applications on machines running Windows 7. This will compete with Microsoft's own add-on to Windows 7 that permits users to run applications designed for Windows XP in a virtual machine. That announcement was noteworthy, because it was the first time Microsoft relied on virtualization technology to provide backward compatibility. However, while Win 7's XP mode has specific hardware requirements (the PC must run either Intel VTX or AMD's v technology), Parallels' version will not have that limitation.

Experienced Microsoft Exchange administrators are in demand even in a down economy. That is why more organizations are turning to hosted e-mail services. We will cover some affordable options in the June issue of Credit Union tech-talk - subscribe now.
 

 

Software Section Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

At the recent KioskCom Self Service Expo, Tranax Technologies was demoing two of its financial kiosks. They showed a through-the-wall kiosk that includes a 17-inch sun-viewable touchscreen and several component bays for a bill acceptor, card reader and receipt printer. Also on display was the Transactional Kiosk 1000, Tranax’s financial kiosk, which handles bill pay, ticketing and card dispensing. Other options include: a magnetic card dispenser, MEI bill acceptor with 500 or 1,000 note capacity, electronic lock and tamper alarm.

Officials at Financial Service Centers Cooperative, Inc, the country’s largest shared branching network, report usage of the 7-Eleven Vcoms for shared branching transactions are exceeding projections significantly in 2009. The Network reports usage is up 43% from just under a year ago and that transaction surges are running as high as 9% week over week since December 2008. FSCC points to several reasons for the growth: 24/7 access; affordability; and the fact that the Vcoms allow members to make deposits to all their accounts as well as loan payments, loan advances, withdrawals, transfers, and more.
 

 

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 

It was recently announced that Ennova was awarded a patent for a new USB flash drive that uses finger biometrics. In addition, the flash drive has a retractable USB connector and integral cover that protect the drive's OLED screen. The OLED screen not only functions as the fingerprint reader, but it also lets you choose files from the drive.

 

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Wireless World

VASCO Data Security International, a software security company specializing in authentication products, and MoadBus, a software products and services provider to the international financial sector, have entered a partnership to deliver digital signature security on mobile banking and mobile cash solutions to joint customers. MoadBus develops mobile banking and NFC-based mobile payment solutions. To enhance the security of these solutions, VASCO DIGIPASS authentication and digital signature will be integrated into MoadBus' MBanking and Mobile-Cash applications.

MasterCard is set to launch its person-to-person mobile payment platform for US issuers. The service - offered via MasterCard's P2P money transfer system MoneySend - has been developed with m-payments specialist Obopay. We will tell you how it works in the June issue of Credit Union tech-talk - subscribe today.

 

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Security Section

A credit card with a built-in display is being tested by Visa with the aim of reducing online fraud. The Emue Card generates and displays a unique code each time it is used. It can be used for remote employee access via a virtual private network (VPN). The card has a keypad and LCD screen embedded into it, to allow users to enter their PIN and generate a one-time use passcode, which is then authenticated by the VPN. Visa says that the card can cut costs substantially compared to using a separate token device, and that the card is compatible with Verified by Visa which could prevent CNP fraud and identity theft associated with online banking, telephone authentication and other remote channels.

Amplitude Research has released their sixth annual "What Keeps Network Administrators Up At Night" survey. Of those who said they felt budgeted sufficiently for security needs, their top security concerns included: users (25%); a security break to the network (22%); recovery plan (18%); worrying about the next virus/worm (16%); and a security breach to their own website (9%). Meanwhile of those who said they felt budgeted insufficiently for security needs, their top security concerns ranked: users (41%); recovery plan (39%); security breach to the network (34%); worrying about the next virus/worm (28%); and security breach to their website (7%).

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Leaders Roundtable

Security:

Protecting Member Data at Rest and in Motion

 

Fiserv - http://www.fiserv.com
Read Christopher Beier's comments:

 

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Code Green Networks - http://www.codegreennetworks.com  
Read Rod Murchison's comments:

 

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e-DMZ Security - http://www.e-dmzsecurity.com  
Read Kris Zupan's comments:

 

 
Gladiator Technology - http://www.gladiatortechnology.com
Read Danny Johnston's comments: http://www.cunews.com/roundtable/Gladiator.pdf

 

Guardian Analytics - http://www.guardiananalytics.com
Read Tom Miltonberger's comments:    
http://www.cunews.com/roundtable/Guardian.pdf

 

 
Harland Financial Solutions - http://www.harlandfinancialsolutions.com  
Read Peter McKellar's comments:

 

 
HEIT - http://www.goheit.com  
Read Dan Holt's comments:

 

 
Integrated Computer Solutions - http://www.icsinc.com  
Read Keith Young's comments:  
http://www.cunews.com/roundtable/ICS.pdf

 

 
Intrepidus Group - http://www.intrepidusgroup.com  
Read Rohyt Belani's comments:  
http://www.cunews.com/roundtable/Intrepidus.pdf

 

 
Netsecuris - http://www.netsecuris.com  
Read Leonard Jacobs' comments:  
http://www.cunews.com/roundtable/Netsecuris.pdf

 

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Network Box - http://www.networkboxusa.com  
Read Pierluigi Stella's comments:

 

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Perimeter eSecurity - http://www.perimeterusa.com  
Read Kevin Prince's comments:

 

 
Ongoing Operations - http://www.ongoingoperations.com  
Read Kirk Drake's comments:  
http://www.cunews.com/roundtable/OGO.pdf

 

 
Reclamere - http://www.reclamere.com  
Read Kevin Doyle's comments:

 

 
Simpler-Webb - http://www.swinc.com  
Read Jeff Simpler's comments:  
http://www.cunews.com/roundtable/SimplerWebb.pdf

 

 
SkyRecon Systems - http://www.skyrecon.com  
Read Sean Martin's comments:  
http://www.cunews.com/roundtable/SkyRecon.pdf

 

Software and Management Associates - http://www.smausa.com
Read Michael W. Taylor's comments:
http://www.cunews.com/roundtable/SMA.pdf

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Technology and Marketing

The Raddon Financial Group (RFG) recently formed a small business research consortium to provide an in-depth analysis of how small businesses perceive financial institutions and use financial products and services. Among the findings from RFG’s latest survey include actions small businesses are taking to cope with the current economic environment. In 2009, 30% of small businesses with annual sales of $500 thousand to $10 million plan to lay-off employees. Fifty-two percent will freeze pay and 41% plan to eliminate bonuses in 2009. Small business cost-cutting measures extend to health insurance benefits and 401(k) matches as well. On a slightly more positive note, 18% feel that their annual sales will increase in 2009, while 37% expect flat sales comparing 2008 to 2009. RFG will present results from the latest study at regional workshops throughout the country this month.

Credit unions that are unhappy with the look and feel of their current website my want to submit them to iHateMyUglySite.com and try to win a full website redesign at no cost. iDiz, a full-service agency specializing in credit union marketing, branding, and website development, is offering the free web site makeover, along WebiDiz, their new content management system built specifically for credit unions, to the winner.

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Online Banking/E-Commerce/Website Design

Viewpointe, a leading provider of check image exchange and archive services, announced that the Federal Reserve Banks have signed an agreement to store their check images with Viewpointe. The Reserve Banks' archive currently contains nearly 10 billion check images and serves more than 1,000 financial institution customers. Their check image volume will substantially increase Viewpointe's current archive volume of more than 127.8 billion images stored.

Geezeo announced that Stanford Federal Credit Union, serving over 47,000 members with over $1 billion in assets, has signed on as the company's charter CreditUnion HQ client. CreditUnion HQ is a white label personal finance management (PFM) suite that combines account aggregation, budgeting, goal setting/tracking, closed community forums, a targeted cross-marketing platform, and categorized educational content.

A new type of virtual prepaid MasterCard is coming on the market that carries a standard 16-digit card account number, expiration date, and security value, but no physical card is issued. We will explain how it works in the June issue of Credit Union tech-talk - subscribe now.

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Internet Access

EMBARQ has introduced an IP solution, EMBARQ Managed IP Telephony MIPT), which is designed to take care of an organization’s entire voice communications system by offering around-the-clock monitoring and alerting solutions. The Monitoring and Alerting Service includes: an always-on device monitoring; up/down and ticket status; remote diagnostics and minor remote repairs; help desk support with around-the-clock, live response; notification of events through phone, e-mail or both; and monthly traffic and alarm activity reporting.

WIN Enterprises announced the introduction of its WIN Pro IP PBX (PL-60700), an economical desktop platform for IP PBX systems. The company says that the WIN Pro IP PBX is available as an Asterisk-ready platform that will enable service providers to provide large enterprise unified communications features to small businesses at very affordable pricing.

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Call Centers

If your credit union is looking to start a new call center or enhance your existing center, you may want to take a look at the new Step to Call Center management Kit. The kit includes seven different modules and each module features a set of templates, documents, reports and tools. The seven modules are: the Step to Call Center E-book, Call Center Setup, Customer Service Training, Call Center Operation, Contact Center Management Process Assessment, Service Level Agreement, and Call Center HR. It also contains many call center templates, as well as documents and materials that are designed to create a road map for the owner of the kit. The website includes a call center directory and several call center related articles: www.steptocallcenter.com.

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Conferences

Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2008:

June 4-5, Lake Las Vegas - Credit Union InfoSecurity Conference

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