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General
News
* Credit Union
tech-talk July Highlights
* Open Solutions Acquires re:Member Data Services
* Harland Acquires Assets of Mitek
* Global Axcess Grows Branded Cash Program
Here are just some of the articles from the current July issue of Credit Union
tech-talk:
- RAID on a Budget
- Affordable Backup and Recovery Appliances
- Server Replication Software
- Digital Security Solutions
- ATM Wraps Add Pizzazz
- 5 Short Range Wireless Technologies
- Security Comes to Switches
- Data Center Security
- Network Performance Statistics and Metrics
- Outsourcing E-mail Management
Open Solutions Inc., a provider of integrated data processing technologies for credit unions, announced that it has acquired Indianapolis, IN-based re:Member Data Services, Inc. (RDS), a provider of core processing solutions for credit unions. Under the terms of the agreement, Open Solutions acquired RDS for approximately $20 million in cash. RDS will become part of Open Solutions’ Core Systems Group and continue to be located and run operations from Indianapolis.
Harland Financial Solutions, Inc., a wholly owned subsidiary of John H. Harland Company, announced that it has acquired certain assets and exclusive distribution and licensing rights related to the CheckQuest item processing and CaptureQuest electronic document management solutions from Poway, California-based Mitek Systems. In addition, Harland has licensed the QuickStrokes family of recognition tool kits and the QuickFX Pro form identification tool kit for use with CheckQuest and CaptureQuest. Harland will also resell Mitek's full line of image based fraud protection solutions.
Global Axcess Corp., a rapidly growing independent electronic financial transaction processing company, announced that they realized record growth of its proprietary Branded Cash Program. Since the end of the first quarter of 2004, the company’s wholly owned subsidiary, Nationwide Money Services, has increased the number of Branded Cash partners from 41 independent financial institutions to 54 and has expanded the number of Branded Cash ATM sites under contract from 376 to 473. Owned and managed by Nationwide Money, the Branded Cash Program is a turnkey ATM network solution that is marketed to credit unions.
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Hardware
News
A company called Kontron offers security conscious credit unions a new portable encrypted storage enclosure that encrypts the data on the internal drive via DES (Data Encryption Standard) or TDES (Triple DES) ciphers, all locked down by a removable USB flash drive key. The InfoGuardian adopts an X-Wall encrypted microchip to protect confidential data and credentials stored on PCs and servers.
Sony has launched a USB-enabled device designed to provide 2 gigabytes of storage capacity and "auto sync" file synchronization software. With the Micro Vault PRO, users can designate folders with files and e-mails they want to be automatically saved and synchronized. Changes in these folders will automatically register on the Micro Vault PRO. The retail price is $249.99.
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Software
Updates
Compliance-monitoring software is aimed at helping organizations manage how employees use unstructured electronic communications such as e-mail, instant messaging and the Web. Many of the vendors are targeting companies in financial services and other tightly regulated industries. In the August issue of Credit Union
tech-talk, we will profile one company's solution - subscribe today and stay on top of compliance applications.
Some of the best network auditing tools are now available on a single bootable CD. Moser Informatik offers their Auditor Security Collection (ASC) CD, which has 300+ network security programs pre-installed. You don't have to install any drivers as the Knoppix Linux based CD will automatically detect and configure your hardware. The software is free for downloading from their website:
www.moser-informatik.ch
Because of the many security risks present in Internet Explorer, the Computer Emergency Readiness Team recommends that Windows users move away from Microsoft's Internet browser. Mozilla is an option; Netscape isn't dead yet, either. Once the market leader in Internet browsing, the latest version is fairly stable and secure. Another alternative from Norway is Opera. There are free and paid versions of Opera available. Of course, even these packages are not 100% secure, but they are not targeted as extensively as Internet Explorer.
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For more information, contact Vidius @ 877-VIDIUS-9, or visit
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ATMs/Kiosks
Debit card usage continues to displace ATM transactions: debit volumes grew 271 percent between 1997 and 2003 while ATM volumes dropped 1.5 percent during the same period. Some experts think that ATMs are not going to win back debit users with cash withdrawal and that they must offer more "personalized" services. What services are most in demand at the ATM beyond simple cash withdrawals and deposits? Find out more in the August issue of Credit Union tech-talk.
The Global ATM Security Alliance has created the ATM Crime Information System to help law enforcement and ATM deployers prevent ATM crime. Their goal is to share crime information (debit card skimming, cash and card trapping, ram raids, robberies, and insider fraud), counter-measures and best practices.
Illinois-based Baxter Credit Union is among the first credit unions in the nation to utilize NCR's imaged-based “No Envelope” Deposit technology for ATMs. Baxter is rolling out nine NCR ATMs with the new APTRA Edge platform. One of these ATMs will be the premium Personas 78 unit with the new image-based deposit functionality. Beyond faster processing, this function provides a digital image of deposited checks directly on the member’s ATM receipt.
******* ATMs/Kiosks Sponsored by MontegoNet *******
Join MontegoNet on July 29 in scenic Newport, RI for an informative seminar entitled “Beyond the ATM: Taking Self-Service to the Next Level.” This free event will focus on the latest trends in self-service technology, noting how credit unions can extend their marketing efforts & enhance their member service with interactive kiosks.
For more information, go to: www.montegonet.com/seminar/
Space is limited, so be sure to register early.
Since 1996, MontegoNet has been delivering turnkey kiosk solutions to financial institutions, enabling them to better promote their financial products/services, demonstrate their electronic banking services, and improve their member/customer service. As a full-service kiosk solutions provider, MontegoNet's expertise encompasses all aspects of a successful kiosk project, including kiosk hardware, kiosk software, kiosk application development, remote kiosk monitoring, and more. Many kiosk companies provide one or two of these services, but very few provide the turnkey service that MontegoNet delivers. Call today for more information on how we can help your CU develop and implement a successful kiosk project: 1.888.MONTEGO (666.8346)
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Security software company Saflink said that it would work with Microsoft to develop software for the U.S. Department of Homeland Security. Saflink makes biometric software for such applications as fingerprint scans and other security features. They are hoping to offer government agencies various solutions for Homeland Security programs involving biometrics, smart cards, tamper-proof identities and physical security controls.
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Wireless
World
While wireless local area networks (Wi-Fi) and DSL (digital subscriber line) seem to have little in common, in fact the two technologies are closely intertwined. Landline carriers are using WiFi to promote their DSL broadband services. Verizon and BellSouth now give away (after mail-in rebates) WiFi routers to new subscribers. Qwest ships WiFi-enabled DSL modems to its new subscribers, ensuring all new subscribers have the option to launch WiFi networks. American carriers are also looking to bundle hotspots with their DSL service packages, emulating a strategy successfully used by South Korean carriers to drive DSL adoption.
Japan continues to forge ahead with more mobile payment options. Japanese mobile operator NTT DoCoMo is to release four new handset models embedded with contactless chip cards that can be used as train passes, electronic wallets and ID cards. The handsets are equipped to use Sony's Edy e-money system for purchases at 9,000 participating shops in Japan. Current balances and payment records can be viewed using the mobile screen.
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Security
Section
Deploying a network security combination of different best-of-breed products takes far longer and is more expensive to implement than an integrated solution with similar capabilities, according to a report from The Tolly Group. Still, many security professionals often prefer best-of-breed offerings, despite the added work of integration. However, others argue that the waves of consolidation that have hit the security industry have produced more all-in-one solutions that are enterprise-ready and save integration time and money.
In a related story, there is one security vendor that claims to have the only product that includes four separate certifications from TruSecure's ICSA Labs: firewall, IPSec, anti-virus, and IDS (intrusion detection system). Learn more about this interesting all-in-one solution in the August issue of Credit Union
tech-talk - subscribe today.
According to security firm Imperva, nine out of 10 web applications remain vulnerable to attack even after developers think they have been 'fixed'. They found that despite periodic penetration testing and subsequent fixes, the flaws reappeared over time. These application-level vulnerabilities, unsolved by testing, leave the door open to web attacks, internal database breaches and malware. New vulnerabilities were found to have been introduced by developers during the time between tests - either as part of the normal evolution of the website or as part of an attempt to fix vulnerabilities identified during the penetration test.
******* Security Section Sponsored by TruSecure *******
FREE WEBINAR: “Info Security for Small Banks & Credit Unions”
Does your credit union have adequate security programs, staff and budget to continuously protect member and corporate data, and satisfy compliance requirements while doing so? Join TruSecure for a free webcast on “Information Security for Smaller Banks and Credit Unions”, and learn how your credit union CAN achieve the robust security posture mandated by current regulations – without extra budget or staff. To register now, just go to:
http://www.trusecure.com/offer/s0168/
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Leaders
Roundtable
Integrating E-solutions to Enhance Profitability and Member Experience
- Cavion Plus -
http://www.cavionplus.com
Read Michael Provenzano's comments: http://www.cunews.com/roundtable/Cavionplus.pdf
- Harland Financial Solutions - http://www.harlandfinancialsolutions.com
Read Scott Bleak's comments: http://www.cunews.com/roundtable/HFS.pdf
- Hewlett-Packard - http://www.hp.com
Read Charles Gowin's comments: http://www.cunews.com/roundtable/HP2.pdf
- Microsoft - http://www.microsoft.com
Read Warren Lewis' comments: http://www.cunews.com/roundtable/MS.pdf
- Open Solutions - http://www.opensolutions.com
Read Michael Nicastro's comments: http://www.cunews.com/roundtable/OSI.pdf
- PRODUCT4 - http://www.product4.com
Read Daniel Moskowitz's comments: http://www.cunews.com/roundtable/PRODUCT4.pdf
- TowerGroup - http://www.towergroup.com
Read George Tubin's comments: http://www.cunews.com/roundtable/TowerGroup.pdf
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Technology
and Marketing
Axonom is the only independent software vendor to be certified by Microsoft as an approved extension to Microsoft's CRM (customer relationship management) package. The Minneapolis-based company offers Powertrak V6 series for Microsoft CRM. Their new Powertrak Dashboard is a module that delivers real-time analytics, built-in metrics and definable score-carding that works across all departments and processes. Managers can turn on the graphical "gauges" they need to track trends, highlight exceptions and stay on top of their operations without the need to run countless reports.
**Technology and Marketing Section is Sponsored by Raddon Financial Group (RFG)**
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We invite you to preview iNTEGRATOR 7 from your office via Web conference.
We've listed seven reasons to preview iNTEGRATOR 7 at:
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--"I can’t say enough about iNTEGRATOR and the fabulous people that come with it!”, Brea Abel, Marketing Director, Central Credit Union of Maryland
--"With service and support like this, we'll be with RFG for a very long time!”, Cathy Madsen, VP, Marketing & Business Development, Centris FCU
--"We've enhanced our knowledge about our members, household trends, key profitability areas and growth strategies. We're looking forward to continued success in the future!”, Linda S. Brown, Senior VP of Member Services, Service 1st FCU
--"iNTEGRATOR has proven to be a worthy addition to our marketing department. With iNTEGRATOR we are able to target market more efficiently which has resulted in higher than average response rates on our campaigns.", Kari Hullinger, Marketing Director, Marion School Employees FCU
--"I absolutely appreciate the continually improving and excellent services, resources, and support RFG provides to our industry.", M. Louise Ortlinghaus, Vice President Operations, Kaiperm FCU
--"RFG’s integrated solution gives Denali Alaskan Federal Credit Union management an incredible competitive advantage in the Alaskan market.”, Dale Fosselman, VP, Corporate Development, Denali Alaskan FCU
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Give us a hour of your time and we'll show you why our client satisfaction is so high. As an added bonus, if you join us for a future Webcast, we'll give you our "Managing CRM Through Strategy & Metrics" white paper as a gift for your valuable time.
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Online
Banking/E-Commerce/Website Design
Stored-value cards, particularly the payroll cards that employers are increasingly handing out in lieu of paychecks, offer a low-cost alternative to the exorbitant fees charged by paycheck-cashing outlets, and a way to avoid carrying a lot of cash. If this is the case, why are Consumers Union and other consumer advocacy groups concerned about the ramp-up of their use? Find out their concerns in the August issue of Credit Union
tech-talk - subscribe now.
Visa's total worldwide issuer base stands at 21,000. Currently, 9,000 Visa issuers around the world offer its 3-year-old online security program, Verified by Visa, to a cardholder base of some 250 million. Visa credits VBV in large part for the accelerating growth in Internet volume. Through May 31, Visa's e-commerce volume on credit and debit cards jumped 59% over the year-ago period, while its dollar volume in 2003 grew 53.2%, reaching a total of $60.4 billion. It says 17,000 online merchants now enable the cardholder authentication program on their websites, with some prominent Web merchants joining the list recently, including CompUSA, JetBlue Airways, Digital River, and 2Checkout.com.
An Australian bank is actively fighting online banking fraud with a new system built on SMS (short messaging service). Under the scheme, National Australia Bank customers will be invited to register their mobile phone numbers with the bank. Each time a registered user tries to log on to their accounts, NAB will send a unique PIN-entry code by SMS to their mobile phone. This two-factor authentication system is intended to crack down on phishing fraud, which has plagued
FIs down under.
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Internet
Access
While prices for voice, IP (Internet Protocol) and traditional data services such as frame relay have been in free-fall for three years, the largest service providers continue to slash rates. This means that if your credit union hasn't recently reviewed and renegotiated your telecom contract, chances are you're paying more than is necessary for voice and data services. Some telecom experts think that organizations can expect to get 25% to 30% price reductions when negotiating a new contract for the same services as their expired contract. Others suggest building a clause into your contract where you can annually renegotiate rates so you can ride the curve down. Those organizations without rate-review clauses so they can take advantage of lower rates if they become available typically cannot get out of their contract without penalties. Of course, the vendor's reliability and performance must also come into play, not just price.
The Transmission Control Protocol requires an acknowledgment of each packet, and if that acknowledgment is slow or fails to come, the sending machine throttles back its transmission rate, assuming the link is congested, even if it's not. One company claims that this can result in WAN (wide area network) connections running at only 20% of capacity because of packet loss across the link. They have just introduced gear that it says boosts throughput on WAN connections 10 times or more by overcoming bottlenecks caused by these limitations of TCP. Learn more about this technology in the August issue of Credit Union
tech-talk - subscribe now.
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Call
Centers
Improving your call center's productivity begins with ensuring that your MSRs answering your phones are best suited for the job. But for call centers that don't hire hundreds of agents per year, recruitment and assessment packages are often out of reach. Fortunately, these assessment packages are coming down in price - we will tell you about one affordable option in the August issue of Credit Union
tech-talk.
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Conferences
Catch
Tom and Bill Rogers, Associate Editor of Credit Union
tech-talk at the following conferences in
2004:
July 29, Newport, RI - “Beyond the ATM: Taking Self-Service to the Next Level.”
http://www.montegonet.com/seminar/
August 6, Chicago, IL - Reed Data Executive Advisory Council Meeting
October 6 - 11, Las Vegas, NV – Combined Council of Auto Credit Unions & Firefighter Credit Union Conferences:
http://www.ccacu.com
November 2 – 7, Orlando, FL – CU InfoTECH Conference:
http://cuconferences.com/detail.aspx?ID=20
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