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May 31, 2010 - June 4, 2010
General News
* Kitsap CU Selects Lobby Management Tool from Better Branches
* Panini and Jack Henry Expand CU Partnership
* CAMPUS USA CU Chooses LenderLive Network
* Syphr and Code Green Partner to Create Facebook and Web Apps
Kitsap Credit Union in Bremerton, WA recently selected Better Lobby - an affordable, user-friendly lobby management tool from Better Branches – to help the credit union actively monitor, measure, and manage non-teller branch activity while also gauging staff productivity. Designed by the Better Branches CUSO, Better Lobby records arrival time, wait time, visit purpose and consultation time for every branch visitor to the service platform.
Panini, a leading provider of distributed check capture solutions, has expanded its partnership to include Symitar, a division of Jack Henry & Associates and leading provider of core processing solutions for credit unions. Symitar will now offer the Panini Vision X with eventual plans to certify and release the Panini I:Deal.
CAMPUS USA Credit Union has tapped the underwriting reviews and quality control audit services of LenderLive Network, a provider of business process outsourcing and technology to credit unions, enabling the state-chartered institution to meet the underwriting requirements of government-sponsored enterprises (GSEs). By utilizing the services of LenderLive, CAMPUS USA is able to sell loans directly to the GSEs and retain the servicing of those loans.
Leveraging Facebook’s nearly 500 million users, financial technology developers Syphr and Code Green, have teamed up to create Facebook and web-based applications to help credit unions drive traffic to their websites. The apps were developed to add value to credit unions’ Facebook fan pages – as well as their websites, and help them monetize those sites.
Hardware News
Network Instruments unveiled its Observer Infrastructure product, which works with the company’s Observer Reporting Server, to perform infrastructure and resource monitoring tasks. Available as software or an appliance, Observer Infrastructure can auto-discover, map and monitor devices as well as track their performance and availability. The product uses standards such as SNMP, WMI and WSD to obtain device performance and status metrics and is able to help IT managers prioritize device problems based upon their potential impact on business services. The appliance can poll both locally and remotely.
Document management software for printers is an area that has traditionally been dominated by Hewlett-Packard and Xerox. However, a major hardware manufacturer is coming out with an affordable package for small to mid-sized organization and we will cover it in the June issue of Credit Union tech-talk - subscribe now.
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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)
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Software Updates
Patch management company Shavlik is offering small networks of 10 or fewer PCs access to a new online patch management service at no cost. The new service, IT.Shavlik.com, is designed to scan for missing patches on a machine-by-machine basis, or using an IP address range or domain, reporting the results through the web portal. Missing patches across Windows versions are rated for severity and can be downloaded using links to the appropriate vendor website or using the 'FixIT' button. The service also supports VMWare ESX and ESXi hypervisors. Larger networks can use the service in its 'Pro' form for a fee: starting at $250 for networks of between 10 and 1,000 PCs, which includes unlimited scan history storage.
Pegasystems launched its Know Your Customer (KYC) solution which is built on its SmartBPM Suite. The company says that their software will accelerate the on-boarding process by up to 70 percent. The KYC solution includes:
* A configurable risk-rating engine applied to changing member profiles that automatically re-calculates risk
* Rules-based drivers and specialization for due diligence requirements by product, geography and risk profile
* Real-time audit trails of actions, changes, policies and procedures, as well as management dashboard reporting
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Software Updates Sponsored by
Raddon Financial Group (RFG)
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ATMs/Kiosks
Chinese ATM manufacturer GRG Banking is rolling out cash management solutions, which include cash recycling systems H68N/H68NL, bulk cash deposit system P2801L and a new software platform. At the core of the solution is an intelligent cash cassette, which is equipped with on-board smart chips. The memory chips store and carry a variety of information, such as how many notes are contained in the cassette, note currency or denomination and access history and error codes.
Remote power switching can be applied to ATMs to help them go green. Some European companies have come up with a solution where the ATM receives its electrical power supply from an automatic on/off socket for IP networks. This socket has a customary LAN connection and is controlled via TCP/IP using the http protocol. If the terminal is not needed, the ATM application closes in a controlled way and the ATM or kiosk is shut down and completely cut off from the electrical power supply via the socket. Later, the power supply is activated via the network at the programmed time and the ATM is quickly back in service.
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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:
Enhanced Software Products (ESP)
and their client is:
Golden Triangle FCU
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
MasterCard said it plans to open its proprietary payment system to software developers to allow them to create new smartphone and online applications. The company will also create a portal for developers where they can access APIs, get source code and software development kits, test new applications, and work with MasterCard engineers. Some observers say that the decision to open up what had been proprietary MasterCard programming to outside developers represents a dramatic departure for the payments network, which like rival Visa has historically kept technical developments close to the vest to preserve a competitive edge.
In credit union mobile banking news, Wescom Resources Group is rolling out its mobile banking solution for credit unions, and Navy Federal Credit Union announced the release of a free mobile banking app for the iPhone and iPod touch through EffectiveUI. Wescom said its MemberEdge Mobile Banking will support the iPhone, various BlackBerry models, and smartphones that run on Google’s Android operating system. Meanwhile, Navy's iPhone app features the ability to receive an instant alert when interest rates change, which helps members track and decide when to apply for a loan, plus it allows members to check and calculate currency exchanges.
A startup has come out with some interesting technology that seeks to reduce credit and debit card fraud by using cell phone location to root out suspicious transactions. Learn how this new system works in the June issue of Credit Union tech-talk - subscribe today.
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Security Section
Imperva announced the availability of its SecureSphere Virtual Appliances to accommodate the unique data security needs of virtualized environments. Imperva's SecureSphere Virtual Appliances provide web application and database firewalls as well as database activity monitoring and can be installed on an organization's preferred hardware of choice running VMWare ESX.
U.K.-based technology consulting and data firm Detica is targeting American financial institutions with their NetReveal solution which is their fraud, intelligence and risk management package. The solution works to uncover networks of suspicious behavior to reveal relationships between people and data. It combines risk analysis, intelligence analysis, advanced statistics and social analysis.
According to Bit9's "2010 What's Running on Your Users' Desktops?" survey, many PCs in the corporate and government world are littered with unauthorized software, most notably malware. Forty six percent of the IT Departments surveyed said that spyware, malware, and unlicensed software continue to pose a problem by getting past traditional security methods. They also found that unauthorized or malicious software caused up to 25 percent of user downtime and calls to the help desk, leading to a drop in productivity. Some of the non-malicious but still unauthorized software found on user PCs by IT included Skype, BitTorrent, and iTunes.
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Leaders Roundtable
Online & Mobile Banking:
Driving Member Growth
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Technology and Marketing
With security and privacy issues top of mind, 71% of consumers said that they have little or no interest in accessing their credit union accounts through Facebook, MySpace or any other social media sites. Research firm Forrester says that only 17% of consumers say they are interested in banking through social media sites. Yet Forrest is quick to point out that none of this implies that credit unions shouldn't try to use social media features on their sites, such as communities, forums and microblogs. Forrester recommends that credit unions use social networking sites to deliver account alerts, to host member service chats, to make new account relationships stickier, and to promote online and mobile services with virtual rewards.
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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
A new Javelin Strategy & Research report finds that one in four U.S. adults tried to open an online account in 2010. Unfortunately, less than half of applicants succeeded in opening and funding a checking account.
The report also found that:
• The number of consumers applying online for accounts has dropped since the peak of the financial meltdown.
• Javelin estimates $654 million in operational savings for the banking industry through automating the online account-opening process, which costs FIs one-fourth that of opening accounts manually in branches.
• FIs can develop deep relationships with consumers who apply online; nearly half of those who apply online for a checking account also apply for a savings account.
• Young consumers, African-Americans, Latinos and affluent customers show heightened use of online applications and should be key marketing targets of financial institutions for online account opening.
According to Fiserv's Consumer Billing and Payment Trends survey, 72.5 million U.S. households, 80 percent of all households with Internet access, use online banking, while 36.4 million households, 40 percent of all households with Internet access, use online bill payment. Consumers age 21-34 make up 28 percent of online bill payers, consumers age 35-54 make up 48 percent, and consumers over age 55 make up a sizeable 24 percent of all online bill payers, underscoring the fact that the service is not only for the young. Finally, women have edged ahead of men to represent 51 percent of online bill payers.
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Internet Access
Siemens Enterprise Communications announced OpenScape Office MX, the successor to HiPath OpenOffice ME designed to meet the voice and unified communications needs of small and mid-sized organizations. The "all in one" solution provides pre-installed applications on a single server, and over 50 new features have been added since the HiPath OpenOffice ME version. Among the latest additions and upgrades: UC capabilities for voice and conferencing services, presence, voice mail, messaging and mobility; access to UC features directly from an Outlook window; and new presence-enabled multi-channel contact center capabilities. Other features include, drag and drop conferencing, call recording and click-to-call from a user's Outlook window.
Vu Telepresence recently released its Vu Telepresence Pro, which focuses on the small business market. Vu Telepresence Pro uses consumer class DSL and Vu provides all of the hardware for the system. The company says that their affordable system utilizes low and inexpensive bandwidth without sacrificing audio and video quality. The entire Vu Telepresence Pro solution costs $99 a month, not counting the cost of an Internet connection.
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Call Centers
Plantronics has released the Savi 430 which is reportedly the first wireless PC headset with a DECT USB adapter. DECT is a voice-dedicated frequency that is not compromised by interference from other wireless devices or Wi-Fi. The dedicated bandwidth ensures density issues do not impact audio quality. Its lightweight, noise-cancelling headset and the adapter provide crisp audio and up to 300 feet of range. The USB adapter enables it to support softphone applications from partners including Avaya, Cisco, IBM, Microsoft, Shoretel and Skype, accessible via desktops, laptops and netbooks.
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Conferences
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at these upcoming conferences:
October 3-6, San Antonio - Firefighters National Credit Union Summit
November 4-6, Phoenix - Credit Union InfoTECH
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