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General
News
* CU*Answers Adds
Four New Clients
* Harland Introduces New Check Fraud Prevention
Technology
* Technology CU Chooses PassMark Security
* Northeast CU Partners with uMonitor for New
Account and Funds Transfer Services
* Wings FCU Chooses Fidelity's Internet Banking
CU*Answers, a
CUSO with clients in 15 states, announced that it
has recently signed 4 new clients to its flagship
CU*BASE Member Processing System. These credit
unions represent a combination of both online
(service bureau) and in-house processed clients,
converting from a variety of different vendor
systems. Newly signed credit unions include: 1)
Aeroquip Credit Union; 2) Cumberland County
Teachers FCU; 3) Straits Area FCU; and 4) Wauna
FCU.
John H. Harland Company, a leading provider of
software and printed products to financial
institutions, has released its Validify solution
for fraud prevention, which was jointly developed
with Mitek Systems. Validify is the first in a
suite of fraud prevention capabilities that
Harland will be rolling out to provide credit
unions a way to combat major types of payments
fraud.
Technology Credit Union will be implementing
PassMark Security's Two-Factor Two-Way
Authentication system. The PassMark system
provides secure two-factor authentication and
anti-fraud filtering with a unique approach that
uses the member's own computer as the physical
credential.
Parsam Technologies, the provider of uMonitor
financial technologies, announced that it has been
selected by Northeast Credit Union to implement
its New Account and Online Funding with Switch Kit
solution and Account-to-Account (A2A) Funds
Transfer Service (FTS). These solutions give NECU
the ability to improve operational efficiencies
and serve their members better.
Wings FCU announced that Fidelity National
Financial will provide them with consumer online
banking services until at least 2011. Fidelity
National already provides core processing services
for the $1.5 billion credit union via its MISER
system.
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Hardware
News
Well established
vendor Imation and a startup called ProStor have
come out with removable disk cartridges that are
meant to replace tapes for backup and data
protection. Imation’s Ulysses technology
incorporates a hard disk drive into a standard
tape cartridge and they claim that a
Ulysses-equipped library can restore files 10
times faster than a tape-only library. Meanwhile,
ProStor introduced its RDX technology which is
also a disk-based removable cartridge that Prostor
says is expected to cost under a $1 a gigabyte.
RDX should be available in early 2006.
In a related story, hard drives just keep getting
smaller and smaller. For example, the new Micro
Mini Hard Drive by Iomega is smaller than a credit
card and comes in both 4GB and 8GB storage
capacities. Each hard drive weighs less than 1.75
ounces, and each has a fold-away USB 2.0
connector. The 4GB is selling for $129.95 while
the 8GB is runs $169.95.
Sun Microsystems and Hewlett-Packard are each
offering new thin-client computing technologies,
but they are providing two different options:
server-based clients versus ones that are
supported by rack-mounted blade PCs. Both
technologies promise IT cost reductions through
more centralized systems management and reduced
desktop support needs. Both sides say their
deployments are easier to support. Sun says that
you have less hardware that can go wrong with
servers instead of individual blades, while HP
says that blades require less-specialized skills
within IT than server-based thin clients, which
may need employees with Citrix training. HP's
Athlon-based blades will support one user per
device and provide a standard corporate desktop
image that's indistinguishable from what users
would get on a desktop PC, while Sun's Secure
Global Desktop software in a thin client will
allow the device to deliver applications from any
source via a network server.
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Software
Updates
Microsoft's first major release of SQL Server in
many years includes so many sweeping improvements
that it almost completely obliterates the old SQL
Server underneath. Virtually every area of the
database has been changed, and many portions have
been rewritten from the ground up. Find out the
details in the December issue of Credit Union
tech-talk - subscribe today.
Commercial network monitoring solutions such as
Computer Associates UniCenter, HP OpenView, and
IBM Tivoli NetView are powerful, but also quite
expensive. A lower cost, open source option is
Nagios. Nagios is an open source host, service,
and network monitoring program. It has been
designed to run under the Linux operating system,
but works fine under most *NIX variants as well.
The monitoring daemon runs intermittent checks on
hosts and services you specify using external "plugins"
which return status information to Nagios. When
problems are encountered, the daemon can send
notifications out to administrative contacts in a
variety of different ways (email, instant message,
SMS, etc.). National Institutes of Health Federal
Credit Union is one credit union that is currently
using Nagios.
Software Section Sponsored by
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--"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
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ATMs/Kiosks
MagnePrint is a new security tool designed to
strengthen card authentication at the ATM. Triton
Systems and MagTek are showing the system this
week at the BAI Retail Delivery Show. The firms
say that the MagnePrint provides an additional
"second factor" of information that complements
the existing PIN password, and detects whether the
card being used at the ATM is the authentic card
issued by the credit union or a fraudulent copy.
They say that the MagnePrint is unique, secure and
cannot be reproduced. Since all magnetic stripe
cards have this property, no additional cost is
required to produce the card token.
In big money center bank ATM news, Washington
Mutual is dropping its no-surcharge policy and
will begin charging non-customers a surcharge when
they use one of the mutual thrift giant's 3,500
ATMs. Meanwhile, Bank of America has been
receiving some publicity over their "ATM denial
fee". If you are a Bank of America customer and
you try to take out money at another institution's
ATM and you request more than your daily limit or
more than your available balance, BofA will charge
you $1.50 even though the request is cancelled and
you receive no money.
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ATMs/Kiosks Section Sponsored by
Nationwide Money Services
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Looking to increase Brand Recognition and provide members with
surcharge free ATMs?
Nationwide Money Services, Inc.’s Branded Cash Program is the answer. Fully endorsed by the VA Credit Union League and the CU 24 Network, our Branded Cash Program provides the ATM equipment, great locations, processing, maintenance, insurance, marketing rights and surcharge free transactions for your members, you only provide the cash and cash services for the ATM just as you would if you owned them. The ATMs look and act like your own, extending your reach or filling out your current market.
Our current CU partners include: AEDC, Beacon, Bronco, Carolina Collegiate, Educators, Freedom First, Food Lion Credit Association, Heritage Trust, Martinsville
Dupont, NSWC, Old Hickory, Peoples Advantage, Southeast Financial and US Courthouse.
NMS also offers their ‘ATMs Made Easy’ Program for full service ATM management and placement services if you like the idea of having ATMs, but don’t want the hassle of day to day management and the associated costs for maintenance and unplanned expenses like triple DES.
For more information about the Branded Cash Program contact Bob Colabrese, EVP of Sales & Marketing
at:
904-395-1147 or
bob.colabrese@GLXS.biz
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While keystroke
analysis may sound futuristic, its roots can be
traced to Morse code operators in World War II who
figured out how to determine message senders based
upon tapping patterns. Extensive military and
intelligence studies have shown that everyone has
a unique typing rhythm. One company recently offer
$100,000 to anyone would could successfully access
a computer by typing a specific user name and
password - 1,200 failed. Learn more about this
interesting and affordable technology in the
December issue of Credit Union tech-talk -
subscribe today.
California biometric firm Digital Persona has
signed Oklahoma-based Allegiance Credit Union,
Oregon-based Advantis Credit Union and Southern
California's Telesis Community Credit Union to its
fingerprint-based authentication system. The
company says the fingerprint-scanning technology
will be used by the credit unions to authenticate
users and members to networks, applications and
websites.
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Wireless
World
Visa announced
that it is expanding the Visa Smart Breakthrough
program to include a new contactless chip
solution. Visa worked with INSIDE Contactless on
the development of the chip and with Smartrac
Technology on antenna design and pre-lamination
processes. Features of the new contactless card
include a smaller than usual antenna that provides
more flexibility for card embossing and design,
and supports a variety of card shapes that allows
issuers to differentiate their products in the
marketplace.
Netgear, a maker of wireless LAN products, just
announced it will soon ship what the company says
is among the fastest wireless LAN (WLAN) routers.
As in the case of all wireless products, maximum
performance for the RangeMax 240, 240Mbps, comes
when a device is in close proximity to the router;
performance degrades the farther a device gets
from the router. Nevertheless, the company claims
that the RangeMax 240 will easily outperform
100Mbps wired Ethernet speeds. The RangeMax 240
uses a MIMO (Multimedia Input, Multimedia Output)
chipset developed by Airgo Networks. MIMO
technology works by employing multiple antennas
and radios to enhance both speed and range
performance.
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Security
Section
A company called
Cernium says that they are the leading developer
and provider of behavior recognition software and
intelligent video surveillance systems. They claim
that their Perceptrak intelligent video
surveillance technology identifies 16 potentially
suspicious events involving people, vehicles and
objects, and delivers advanced event detection and
recording while dramatically increasing the
efficiency of your security staff. Perceptrak
detects and alerts you to these suspicious events
in real time:
- Movement
- Left-Behind Stationary Object
- Single Person
- Multiple Persons
- Fast-Moving Persons
- Fallen Person
- Lurking Person
- Erratic Person
- Converging People
- Single Vehicle
- Multiple Vehicles
- Sudden-Stopped Vehicle
- Fast Vehicle
- Slow-Moving Vehicle
- Forming Crowd
- Dispersing Crowd
Unwanted software running on workstations and
servers is a big problem for IT administrators.
Some vendors fight this problem by using "black
list" technology that compares executable files
against a "known bad" list of bit patterns or
behavior signatures. Unfortunately, this approach
can leave systems exposed to new, unknown, and
potentially unwanted software. Other vendors
deploy a "white list" approach that limits systems
to a "known good" list of executable files. While
this approach provides the best protection in
theory, these solutions can be overly restrictive
and the administration of white lists sometimes
proves daunting. One vendor has come out with an
approach that they are calling "automatic
graylisting" - learn more about this technology in
the December issue of Credit Union tech-talk -
subscribe now.
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Security Section
Sponsored by
Intrusion, Inc.
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According to the FTC figures, ID thieves stole
nearly $100 million from financial institutions last year, an average of
$6,767 per victim. Can you say for certain that your members’ personal
information is safe on your network and that none are being exposed
unencrypted outside your network? Are your employees sending emails with
member names, addresses, and social security numbers included in the
text or in attachments? What about exposures through instant messages
and web mail?
If your answers are “No,” “I don’t know,” or “maybe,” then you need to
take a good look at Compliance Commander from Intrusion. This amazing
product is installed transparently at your internet access point where,
at wire speed, it monitors all unencrypted traffic, looking for matches
to your exact member personal data. When a match is made, the
communication containing member information is blocked and the event is
reported to your IT staff for further investigation and resolution.
Because Compliance Commander sources its detection criteria from your
member databases, there are no false positives.
To learn more or to sign up for a No-Cost ID Theft Compliance
Assessment, call the Intrusion Sales Department at 888.637.7770, or go
to:
http://www.intrusion.com/products/commander/
or send an e-mail to:
sales@intrusion.com
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Leaders
Roundtable
CORE
SYSTEMS:
Using Core Systems for a Competitive Advantage
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Technology
and Marketing
With interest rates rising, many mortgage analysts
are saying that credit unions that offer mortgages
will have to get more aggressive in their
marketing techniques. Some think that adjustable
rate mortgages (ARMs) will become more popular,
and there are estimates that as much as $300
billion of current adjustable rate mortgages could
be refinanced next year and another $1 trillion
could be refinanced in 2007. Another area of
interest: reverse mortgage loans to aging Baby
Boomers. A survey of over 100 mortgage banking
companies by the Mortgage Bankers Association
found that demand for reverse mortgages rose 28
percent in the first six months of 2005 from the
second half of 2004.
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Technology & Marketing Section Sponsored by
L9.com
|
L9.com is an award-winning web services technology
CUSO providing custom application development
services exclusively to credit unions. These
services include: Safe2Login – winner of the CUNA
Tech Council 2005 Future Forum “Best of Show”
award - a Banking Login Mutual Authentication
solution that addresses the recent NCUA and FFIEC
agencies issued guidance; knowledge management
products and services; multi-language website
support; advanced content management solutions;
third-party integration services; and
behavior-based online targeted marketing solutions
which support campaign management with
cross-selling intelligence.
L9.com services include:
- eBranch Management
- Page Manager
- Rates Manager
- Navigation Controller
- News, Events and FAQ Manager
- File and Image Uploader
- Promotion Manager
- Behavior Based Promotion Manager
- Survey Creator
- Article Manager
- Financial Library and Glossary
- Life Events Financial Advisor
- Integrated Branding and Graphic Design
- Statistics and User Audit Logs
L9.com Specialty Services:
- Banking Login Mutual Authentication
L9.com’s Safe2Login won the 2005 CUNA Tech
Council's Future Forum “Best Of Show” more info @
safe2login.com
- Multi-Language Website Support
- Custom, Award Winning Web-Site Designs
- Online Application Creation
- Online Banking Interface Design
- Third Party Services Integration
- Intranet Development
- ATM and Kiosk Screen Design
- Disaster Recovery Planning and Support
Please contact L9.com
@ 802-229-2005 or visit
L9.com and
Safe2Login.com
for compete information.
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Online
Banking/E-Commerce/Website Design
Entrust Inc.
recently released the findings of its latest
consumer study of more than 700 online banking
consumers across the United States. Key findings
from the study include:
-- 18 percent of all respondents have decreased
their use of online banking or have stopped
banking online completely in the past 12 months
due to concerns regarding the security of their
online identity.
-- One in three respondents indicated that they
were worried that the banking website they usually
visit may not be the legitimate website, but
rather one setup to steal their identity or
account information.
-- 94 percent of consumers indicated their
willingness to use additional security measures,
such as strong authentication when banking online,
especially when conducting higher-value
transactions such as money transfers.
-- 81 percent of respondents indicated that they
would not pay any costs for increased security.
CheckFree Corporation announced the launch of
CheckFree FraudNet, which is an automated system,
supported by Actimize Inc.'s analytics technology,
that helps mitigate risk and reduce fraud. The
service combines CheckFree's cumulative knowledge
of payment patterns and an analytics engine to
help financial institutions detect and stop
unauthorized payments before they are completed.
FraudNet monitors every bill payment transaction
that appears on members' accounts at member credit
unions and matches them against pre-established
rules developed through experience. The FraudNet
system then detects anomalies and places suspect
payment transactions into queues for further
examination by fraud prevention teams at either
CheckFree or the credit union.
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Online Banking
Section Sponsored by
L9.com
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Safe2Login acts as
a third-party trust authority employing mutual
authentication technologies; a multifactor
positive authentication process coupled with the
ability to authenticate the banking server to the
customer. The recent NCUA and FFIEC Agencies
guidance “Authentication in an Internet Banking
Environment” mandates a need to reliably
authenticate customers and provide defense against
Phishing and Pharming by verifying that the
customer is in fact communicating with the correct
banking server, not a spoofed site. Mutual
Authentication is the methodology required to meet
these goals.
L9.com’s Safe2Login authentication solution was
the recipient of the 2005 CUNA Technology Council
Future Forum “Best of Show" award.
Mutual Authentication is a process whereby
customer identity is authenticated and the target
Web site is authenticated to the customer.
Currently, most credit unions do not authenticate
their Web sites to the customer before collecting
sensitive information. Credit Unions can aid
customers in differentiating legitimate sites from
spoofed sites by authenticating their Web site to
the customer.
Safe2Login’s customer verification process is
classified as a layered Positive Verification
process where Safe2Login, acting as a trusted
third-party, ensures that material information
provided by an applicant during login matches the
information supplied during the secure
registration process. The Safe2Login multifactor
authentication process requires that users know
several pieces of information they supply to the
system in a way that defeats "keyloggers." This
provides the Credit Union with an increased level
of confidence that the customer is who they say
they are.
More information @
Safe2Login.com
- or 1-802-229-2005
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Internet
Access
Verizon Communications sharply cut its prices
for unlimited telephone service across the
Northeast and Mid-Atlantic last week. The
aggressive offers mark another tactical maneuver
in the developing showdown between phone and
cable companies. SBC (now AT&T) has made similar
moves in cutting its phone and DSL rates in a
bid to keep subscribers from leaving and to
attract news ones while it prepares for next
year's launch of TV and speedier broadband
connections. The lower-priced Verizon calling
plans are being offered in New York, New Jersey,
Pennsylvania, Maryland, Massachusetts,
Connecticut, Delaware, Virginia and Washington,
D.C.
Some telecom analysts see Verizon's move as a
direct reaction to Cablevision’s recent increase
in the speeds of its residential and commercial
broadband service. Cablevision, which serves
parts of the New York region, announced last
week that it will sell premium broadband
services with download speeds of 30 megabits per
second and 50mbps to its residential customers.
The company will also increase download speeds
on its basic service from 10mbps to 15mbps at no
additional charge to customers. Cablevision
isn't the only cable operator that is increasing
the speeds of its service to compete. In May,
Cox Communications boosted download speeds in
its Northern Virginia territory to 15mbps. It
began offering a similar service in Rhode Island
in June, while Adelphia Communications announced
that it is raising speeds to 16mbps to residents
in Leesburg, Va. Both companies also compete
with Verizon's new Fios fiber service.
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Internet Access
Section Sponsored by
PassMark Security
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Free Information Kit:
New Online Banking Rules – and New
Opportunities
Identity theft and account hijacking are huge
threats to your credit union’s reputation and brand. But stricter
online security measures could reduce member willingness to conduct
online banking.
Now the new FFIEC guidelines have decided the matter for you – and
could divert IT resources from other, important activities. Get the
facts – and find out how to address the challenge – in a free
information kit from PassMark Security. Download your kit now and
find out how you can:
* Quickly and easily comply with the new FFIEC guidelines – with
proven technology that’s already protecting credit union and bank
customers at some of the largest institutions in the industry
* Significantly improve online authentication and improve member
confidence in your online services
* Minimize risk and cut costs of remediation by dramatically
reducing the possibility of successful phishing, pharming, and other
identity-theft exploits
* Satisfy members – and your credit union’s need to increase the use
of online banking
* Move beyond the "password-just-isn’t-enough" problem to a security
solution that meets FFIEC guidelines.
Find out how to simplify online banking security today. Download your
copy of this informative kit now:
www.passmarksecurity.connectthe.com/techtalk
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Call
Centers
Angel.com is a leading provider of on-demand call
center and interactive voice response (IVR)
solutions. They distinguish between "on-demand"
and "hosted" by pointing out that everything can
be done over the Web. The company claims that you
can go to their website, request an account, and
then within a few minutes, you can start building
your speech-enabled IVR solution in a very
intuitive, easy way. They also say that they
follow the same approach with their Automatic Call
Distributor (ACD) offering. You can set up your
agents through the website, you hit "save" and the
phones will ring at your agents' desks, or their
cell phones or home phones, if necessary.
Angel.com touts that more than 1,400 companies are
currently using their patented Voice Site
technology.
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Conferences
Catch
Tom and Bill Rogers, Associate Editor of Credit Union
tech-talk at the following conferences in
2005:
June
8-9, Lake Las Vegas, NV - 2006 Credit Union InfoSecurity Conference
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