|
|
|
|
|
|
General
News
* Harland Financial Solutions Introduces CuServ Evolution
* Open Solutions Launches Version 3.9
* COCC to Automatically Patch CU Workstations
* CoreTrac Names New Chairman
Harland Financial Solutions, a wholly owned subsidiary of John H. Harland Company, announced that more than 70 customers have signed up for the new Windows.-based CuServ Evolution release of its in-house data processing system for credit unions. The CuServ in-house data processing system is a turnkey hardware and software solution designed for smaller credit unions. The rollout of CuServ Evolution features a new Windows-based teller platform that includes item processing for share drafts, loans, deposits, payroll, and an integrated general ledger. A report writer and image ID capability are also available, along with optional features for Internet banking, telephone banking, credit bureau reporting and workflow management. HFS also said that they have signed three more credit unions for its ULTRADATA System service bureau solution: OCHA CU, Orange, CA, Chesapeake & Ohio FCU, Richmond, VA, and Nissan FCU, Gardena, CA.
Open Solutions Inc., a provider of integrated enabling technologies for credit unions, announced the availability of Version 3.9 of The Complete Credit Union Solution (TCCUS), Open Solutions’ relational core data processing systems for credit unions. Version 3.9 is designed to further enhance a credit union’s ability to gather, catalogue and retrieve the maximum amount of relevant information pertaining to its members. Version 3.9 enhancements include upgrades to credit/debit card setup and maintenance processing, enhanced commercial banking applications for the credit union core products and enhanced loan product servicing. Open Solutions also announced it has acquired Dryden, NY-based Omega Systems, a company specializing in remittance and lock box solutions.
COCC, a mutually-owned outsourcing, integration and software development company that provides complete enterprise processing solutions for credit unions, announced an automated software patching service designed to meet credit union needs. Called “PatchPlus,” the new COCC service implements recent NCUA recommendations for monitoring, testing, installing and reporting commercial software patches.
CoreTrac, a provider of simple and affordable customer relationship management (CRM) solutions built exclusively for credit unions, announced that R. H. “Hank” Seale will assume the role of company chairman. Seale co-founded Regency Voice Systems in 1991 and founded QUP Systems in 1996. Last year, CoreTrac increased sales by 313 percent over 2002 and Seale will participate more actively in the company’s next-stage growth.
|
|
Hardware
News
Disk drive technologies continue to get better and less expensive. Nevertheless, the hard drive still remains the Achilles heel of any computer since, as an electromechanical component, the risk of it developing a defect is relatively high. On top of that, it is one of the most sluggish elements inside the PC. But in addition to these negative factors, a faulty hard drive has the potential to do the most damage compared to other components. While a defective memory module or overheated graphics card can very easily be replaced, in the worst-case scenario a dead hard drive can destroy valuable data. That is why more and more organizations are turning to RAID (redundant array of inexpensive disks) systems to prevent data loss and downtime. Even small credit unions can afford systems like Axiomtek's recently released Fastora line of low-end RAID products.
More and more credit union staff members are using laptops. Safeware, a computer insurance provider, estimates that in 2002, U.S. PC owners filed 620,000 claims for computer thefts - most of them for stolen laptops. And those numbers only promise to increase. IDC predicts that, by 2008, 50 percent of the PCs in the United States will be laptops (up from 29 percent in 2004). Laptops are the number-one item stolen in San Francisco, surpassing even bicycles. Such statistics likely hold true for most major cities, as both items are easy to transport and resell. Security experts say that laptop users must pay attention to four key areas - find our what they are in the August issue of Credit Union
tech-talk - subscribe today.
Back
to Top
|
|
Software
Updates
Research firm Celent is reporting that as much as half of the overall cost savings realized by credit unions replacing their core systems are not generated by reductions in IT expenses, but rather through improvements in efficiency in back office operations. According to their recent report, when done right, cost savings from such projects can represent as much as 5 to 8 percent of the total operating budget of the credit union.
To migrate or not to migrate? That is the question facing credit union NetWare administrators, as some IT departments begin planning their first major upgrades since overhauling their systems for Y2K. The message from Novell is clear: Linux is the future, with NetWare likely relegated to legacy status. Novell insists that they will continue to support NetWare customers as long as it has customers to support, citing the platform’s continued support for new hardware such as SATA drives and blade servers. Critics believe that NetWare is going to be in continued decline and the idea that Novell would pour significant resources into maintaining NetWare seems far-fetched. They point out that it may be time to for the NetWare admins to take some Linux courses; or if Novell fails to convince its NetWare customers that Linux is the future, it stands to lose many of them to the Windows platform.
Back
to Top
|
|
ATMs/Kiosks
The ATM Industry Association has recruited some 500 members in 20 countries over the past six years -- largely through word of mouth. Now the group is getting serious about its marketing efforts and would like to double its membership by the end of 2008. Therefore they have created an entry-level package of benefits for first-time members and priced it at $300, 40 percent less than the standard membership fee. Included in the package is password access to ATMIA's database and to fraud alerts. Among the materials available are best practice manuals for physical ATM security, PIN security and encryption key security; an international ATM crime directory; and updates on all regulatory initiatives, including federal and state legislation as well as network regulations.
NCR is working hard to modify its products to better fit the needs of specific regions. For example, they have developed the Asan ATM for areas that experience: a hot and dusty environment, a limited telecommunications infrastructure and frequent power outages. Based on the EasyPoint 55 platform, the Asan features an Intelligent Power Management System, with an integrated uninterrupted power supply that allows ATMs to complete ongoing transactions before shutting down in case of a power failure. The system can also shut ATMs on or off at pre-decided times in areas where 24-hour availability is not needed. Asan also supports wireless connectivity through GPRS and CDMA communication technologies for areas with poor landline connectivity options. Finally, it comes with a balanced pressure system and enhanced dust filtration mechanism to facilitate non-air-conditioned installations.
******* 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)
Back to Top
|
|
|
Fingerprints are the most widely used biometric, but there are still nagging doubts about the technology. A wide-ranging study of biometric fingerprint systems was recently published by the National Institute of Standards and Technology. The NIST study examined 34 commercially available systems used to match fingerprints and was the most extensive test of the technology ever conducted by a government agency. Find out the results in the August issue of Credit Union
tech-talk - subscribe now.
San Antonio City Employees FCU has partnered with BioNet Systems to add an another layer of security to its employees' laptops. The BioPassword system allows users access to the system only after they are authenticated by two factors: the traditional password and the biometric recognition of the unique typing keystrokes of the individual entering the password. The system binds a legitimate user's typing patterns with their password, creating a hardened password that secures against external and internal attacks.
Back to Top
|
|
Wireless
World
Credit unions in rural areas may not have access to DSL (digital subscriber line) or cable Internet access, but they might have access to an affordable Wireless Internet Service Provider (WISP). WISPs offer services that rival these traditional broadband methods and they can offer this service affordably and with the local and personalized attention their customers demand and deserve. An online directory, the WISP Directory, has been created to help WISPs and related organizations educate the public about their unique services and offerings. The WISP Directory, located at http://www.wispdirectory.com, helps potential subscribers search for WISP service in their respective areas.
Covad is teaming up with Netopia to provide Wi-Fi plus broadband access as part of a single service to people working out of their homes. Covad will sell customers a Netopia DSL modem that includes a wireless LAN (Wi-Fi) gateway they can configure all at once to set up wireless home offices. A wizard for customers setting up the devices is part of the service, called Wireless Network Solution. The service also includes Covad technical support for the wireless LAN as well as the DSL Internet access part of the service.
Back to Top
|
|
Security
Section
Social engineering attacks are often the first step of sophisticated hackers/crackers. They pose as job applicants, new employees and members and it is amazing how easy it is for them to obtain passwords and PINs. Learn how they operate and how your credit union can defend itself from these insidious attacks in the August issue of Credit Union
tech-talk - subscribe today and stay on top of security issues.
In order to combat money laundering, financial institutions are required to implement "Know Your Customer" (KYC) safeguards. A new tool in the money laundering battle is "entity resolution." With this technology comes the ability to cross-reference data points; for example, if two members share the same beneficiaries, emergency contacts or phone numbers, the system can discover that information and automatically generate reports that point out any accounts that warrant further investigation. Find out more about this powerful technology that is on the forefront of compliance efforts in the August issue of Credit Union
tech-talk.
National 1st FCU is one credit union that takes online banking security seriously. With the help of their online banking and security vendor PM Systems, they have implemented a two factor authentication system for access to their online banking system. Participating members are issued a smart card and reader that are simple to setup and use. The National 1st Smart Card has been popular with security conscious members and the cost of the system to the Santa Clara, CA-based credit union is very minimal - just $5.
******* Security Section Sponsored by Vidius *******
• How many e-mails does your Credit Union send each month?
• Do you know how many of those messages contain confidential information?
• Can you track compliance with privacy regulations such as
Gramm-Leach-Bliley or CA Senate Bill 1386?
Vidius, the global leader in intellectual property protection, invites you to its weekly webinar discussion on the topic of information leaks on Fridays at 10:30am PST/1:30pm EST Register at:
www.vidius.com/registration.htm.
Vidius develops security software that stops leaks before they occur. Major financial, healthcare, pharmaceutical, and government institutions around the world have deployed Vidius products to protect their most valuable information assets. Download our case study on First Financial Credit Union at:
www.vidius.com/custsuccess.htm
Vidius PortAuthority® transparently monitors enterprise communications and prevents confidential information from unauthorized distribution. Vidius PortAuthority gives organizations risk visibility into the frequency of information breaches, audit trail capabilities for regulatory compliance, and control over proprietary information distribution.
For more information, contact Vidius @ 877-VIDIUS-9, or visit
www.vidius.com
Back to Top
|
|
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
Back to Top
|
|
Technology
and Marketing
The TowerGroup thinks that the problem with most failed CRM (customer relationship management) implementations is poor planning and lack of established metrics. According to new research from the firm, the ongoing inability by a majority of financial institutions to define clear objectives and measure results continues to plague CRM programs. TowerGroup points to a FI's ability to understand customer/member profitability as another major stumbling block in the building of CRM business cases. Not knowing the value of current members with any degree of assurance makes assumptions as to the value of additional members, or the incremental revenue from existing members, highly questionable. They are calling for a neutral industry organization to draft reasonable definitions, terms and measurement intervals for all FIs so that areas like loyalty, satisfaction, profitability, cross-sell ratio and primary demand deposit account retention rates can be benchmarked.
**Technology and Marketing Section is Sponsored by Raddon Financial Group (RFG)**
-- PREVIEW THE MCIF THAT DRIVES RESULTS --
>>> REGISTER FOR A FREE WEB DEMO AT: http://www.raddon.com/demo
We invite you to preview iNTEGRATOR 7 from your office via Web conference.
We've listed seven reasons to preview iNTEGRATOR 7 at:
http://www.raddon.com/products/Integrator/reasons.asp, but our clients' reasons are so much better. Here's what they said:
--"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
--"I praise your organization for hiring the best people possible", Andrea Moore, Marketing Manager, HealthCare Associates CU
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.
Over 300 credit unions currently use iNTEGRATOR to implement marketing strategies and tactics. The primary reason so many institutions choose RFG for MCIF software is the integration of a flexible profit model and actionable strategies and tactics that deliver results.
>>>WEBCAST DATES:
Tuesday, July 27
Tuesday, August 3
Wednesday, August 11
Tuesday, August 17
Tuesday, August 24
REGISTER AT http://www.raddon.com/demo
OR CALL 800-827-3500.
PLEASE USE PROMO CODE: TT55
Back to Top
|
|
Online
Banking/E-Commerce/Website Design
Online banking vendor Corillian Corp. announced the availability of the Corillian Fraud Detection System, a patent-pending web log analysis solution and methodology. Corillian's security team has characterized the behaviors associated with the phishing life cycle and updated the Corillian Fraud Detection System to provide a financial institution's website administrators with a way to detect phishing attack behaviors, including:
- Building and testing the phishing site
- Building and testing the phishing e-mail
- Launching the phishing e-mail
- Collecting user and account information
- Verifying and using the user and account information
According to a study by Callahan & Associates Survey Consortium, online members have high expectations for the amount of time it takes to be approved for a loan and receive the funds. Over 80% expect approval in less than 24 hours, while 70% of members expect access to the funds within 48 hours after applying. Speed of the delivery of the approved funds is just about as important as the speed of approval. The report suggests that speedy delivery of funds could be a compelling opportunity for credit unions to further differentiate their services from other financial institutions. Another recommendation: before the member signs up for a loan online, they should be aware of the time it takes to fill out the application, the time for approval, and the time to receive the funds.
Back to Top
|
|
Internet
Access
Telecommunications giant Sprint announced that it has signed up more than 25 financial and insurance companies for its private IP network offering. Sprint's new "Peerless IP" service enables companies to use standard Internet-capable network hardware and software to build stand-alone data networks that don't connect to the Net. Rather, they are supported by Sprint's private network. Sprint's offering replaces other dedicated network technology, such as X.25 and frame relay, that required specialized hardware to connect together. By continuing to use their standard equipment to transfer data via Internet Protocol, customers cut expenses.
Verizon Communications has stepped up its battle against cable operators with plans to debut a broadband-over-fiber service later this summer. The service, called Fios, will be launched in Texas, and later parts of southern California and Florida, the company said. At up to 30mbps (megabits per second), Fios is a quantum leap compared with Verizon's DSL service, which runs at a maximum of 1.5mbps. Some of the Bells, such as Verizon and SBC Communications, see fiber as an answer to their problems. The Federal Communications Commission plans to allow the Bells to invest in fiber without requiring them to share their infrastructure with third parties, as is the case with copper wire networks. A connection of up to 15mbps is available for $45 a month if purchased as part of the same telephone service bundle, or $50 alone. The company did not reveal pricing for the 30mbps plans.
WildBlue plans to offer high-speed Internet via satellite next year after its first satellite was successfully launched last weekend. The Denver-based company, backed by Liberty Media, is targeting rural areas and small cities that do not have cable or DSL service. WildBlue customers will pay $300 to $400 for equipment and about $50 a month for Internet service. They will offer several packages with downstream speeds up to 1.5 Mbps and upload speeds up to 256 Kbps.
******* Internet Access Sponsored by NuVox Communications *******
8 services for one GREAT RATE!
Typical Savings of 30% to 50% Versus Southwestern Bell Local Service Rates.
If your credit union is located in one of the following states, please call for service availability:
Kansas, Oklahoma, Missouri, Arkansas, Louisiana, Illinois, Indiana, Ohio, Kentucky, Tennessee, North Carolina, South Carolina, Georgia, Florida, Alabama and Mississippi
NuVox Supplies All of Your Telecommunications Needs:
* Local lines or trunks
* Line features
* High speed Internet access (256K, 512K, 1024K or 1.5M)
* Router service
* Web hosting
* Email mailboxes – 20 Included
* Long distance (200 FREE minutes/month per line included)
* Domain name registration
All Your Telecommunications Needs from ONE COMPANY, ON ONE BILL, WITH ONE POINT OF CONTACT !!
Contact Joe Metzger today and start saving: 636-537-7324
Back to Top
|
|
Call
Centers
Even fairly small credit unions should be able to afford Centrepoint Technologies' new TalkSwitch 48-CVA, a hybrid telephone system that offers combined access to the traditional, publicly switched telephone network (PSTN) and voice over IP (VoIP). The system, which targets businesses with 1 to 32 users per location, is customer installable and includes these features:
• Auto attendants, voicemail, and other call management functions;
• 3-digit dialing between branches;
• Seamless call transfer between locations;
• Easy access to IP network services such as Internet calling;
• Remote extension capabilities that allow cell phone users to make VoIP calls; and
• The ability to place all calls, whether PSTN or VoIP, using any standard analog phone.
The TalkSwitch 48-CVA sells for $1,795.
Back to Top
|
|
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
Back to Top
|
|
|
|
|
