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General
News
* AFTECH Concludes Successful Client Conference
* uMonitor Releases Version 3 of Online Switch Kit
* Credit Union 1 Selects USERS
* WhiteHat Security Announces Sentinel 2.0
* Vista FCU to Offer Identity Theft 911
AFTECH, a unit of Fiserv Inc. that offers core processing and Internet products and services to credit unions nationwide, announced that more than two-thirds of their client credit unions took part in their Client Conference. According to survey scores, attendees ranked the 2005 AFTECH Client Conference as the best ever, with attendance figures at their highest since their 1999 conference.
Parsam Technologies, the provider of uMonitor financial technologies, announced the release of version 3.0 of the New Account Setup and Online Application with integrated Online Switch Kit. Some of the key advances in this release include: the ability to handle not only deposit accounts, but also credit or loan accounts; the ability to offer the entire range of products to members in every channel; the ability to handle complex eligibility requirements; and the enhanced ability to cross-sell and up-sell in real-time with proper risk management.
USERS Incorporated, a unit of Fiserv, Inc., announced that Credit Union 1 of Rantoul, Illinois has selected its DataSafe core processing system to serve nearly 100,000 members. The $402 million credit union will convert to USERS in April of 2006.
WhiteHat Security, Inc., a leading provider of web application security services, announced the availability of WhiteHat Sentinel 2.0, the evolution of its continuous vulnerability assessment and management service for websites. WhiteHat Sentinel 2.0 delivers ongoing assessments of web application security and a current view of remediation status, plus it includes new trending and executive-level PDF reports.
Vista Federal Credit Union (VFCU) and Identity Theft 911 announced today that the California- and Florida-based credit union will provide Identity Theft 911 victim resolution and proactive education services free to VFCU members. Under the program, Identity Theft 911's industry-leading victim resolution services will be available free to Vista Federal Credit Union members.
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Hardware
News
U3 is a consortium of USB (Universal Serial Bus) flash drive manufacturers bent on advancing their products beyond basic data storage. The group says that "they are ushering in a new wave of 'smart drive' devices where you can carry your data and your entire workspace including passwords and user settings" on USB drives. Learn more about these devices in the July issue of Credit Union
tech-talk - subscribe today.
Seagate Technology unveiled its 2005 lineup last week, which takes drives to the half-terabyte level and introduces a product family that encrypts data. The company will shift to perpendicular recording, a technique of aligning the magnetic grains within the drive to increase its storage density. Seagate plans to enhance its Momentus lineup with the Momentus FDE, a 2.5-inch drive with the capability to encrypt data. Encrypting the information will make a stolen notebook less valuable to thieves, as well as preventing identity theft and the loss of sensitive corporate data, the company states. The FDE drive is OS-independent, and will require the user to enter some form of identifier to unlock the drive – possibly a password or biometric key, although the level of security is up to each manufacturer.
Small credit unions are not in the position to pay thousands of dollars for larger UPS (uninterruptible power supply) units with good management and communication features. One affordable option that runs less than $200 per unit is the Belkin 1500 VA UPS. This unit provides complete support and protection for three connected computers. The UPS lets its management software connect over USB, serial, and network connections and includes the cables to support the connection types. The unit also supports what Belkin calls Automatic Voltage Regulation, which is its name for a line power conditioner that lets the unit provide cleaner power to attached computers.
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Software
Updates
Microsoft shipped Windows Server Update Services (WSUS) last week. The long-awaited upgrade to Software Update Services (SUS) gives small-to-midsized businesses free software-patching functionality. WSUS succeeds the existing Software Update Services tool. WSUS requires Windows Server 2003 or Windows 2000 Server with Service Pack 4. The new version includes improvements in patch delivery, status reporting, network usage and implementation, and administration flexibility.
A company called FullArmor last week announced the latest version of its policy management product IntelliPolicy for Clients 1.5. The release addresses a difficult security issues for Windows administrators: how to create secure desktop configurations that reduce vulnerabilities without impacting end-user productivity. IntelliPolicy allows IT departments to assign appropriate privilege levels to individual applications on a user-by-user basis. It can also throttle back rights for applications like Outlook and Internet Explorer, and automate policy configuration and enforcement for Outlook e-mail clients and administrator password management.
Software Section Sponsored by
Raddon Financial Group (RFG) |
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ATMs/Kiosks
With text-to-speech technology improving dramatically, visually impaired people may be able to have easier access to the new generation of ATMs. Find out more about audio-enabled ATMs in the July issue of Credit Union
tech-talk - subscribe now.
The Banker, a London-based global banking-industry publication, recently recognized NCR for their ATM security efforts and technology. NCR received the Innovation of the Year award and the Fraud Prevention awards at their conference. The Fraud Prevention award recognized their Intelligent Fraud Detection system which is built into the ATM and senses any changes to the environment related to fraudulent activity.
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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:
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* Due to an error in coding, this e-mail address was not receiving e-mails over the past 12 weeks. That problem has been corrected. Thank you.
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A survey of more than 2,000 adults, sponsored by biometric vendor AuthenTec, shows that 63% of consumers would pay extra to add fingerprint biometrics to their PC and notebook computers, while 71% would pay more for this feature in their cellular phones. Most consumers said they would use the technology to replace their PC and Internet passwords, as well as to help transform their cell phones into their personal wallets to conduct m-commerce and wireless banking. The survey found that parents, younger adults, and men are the most interested in using the cell phones as a replacement for their wallets.
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Wireless
World
American Express has begun a nationwide rollout of its ExpressPay contactless card program and announced that 7-Eleven would accept the AmEx technology, which is being embedded in their Blue card. The ExpressPay rollout, which relies on radio-frequency identification technology to send account data from chip-embedded cards or other tokens to receivers linked to point-of-sale terminals, comes on the heels of a national rollout of similar technology from MasterCard and Visa, driven largely by card issuer J.P. Morgan Chase & Co.
The most unwired city in America is Seattle, according to the Intel's third annual "Most Unwired Cities" survey. Sperling's Best Places, who conducted the study, said that connecting to wireless Internet access points with laptop PCs and wireless devices is becoming part of everyday life in America. Seattle narrowly unseated last year's winner, San Francisco, and 2003's title holder, Portland.
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Security
Section
To better fight more sophisticated malware and so-called blended threats, some organizations are turning to unified threat management which puts multiple layers of hardware and software protection into one package. As the notion of unified threat management becomes widespread, more security companies are offering products that address a layered protection scheme in a suite of software and hardware combinations. Find out more about these solutions in the July issue of Credit Union
tech-talk - subscribe today.
Two new content-monitoring tools released last week will add to the growing number of options for security managers looking to protect sensitive data against compromises and theft. San Mateo, CA-based Tablus upgraded their hardware and software platform and it now features a component called Content Alarm NW 2.0 for monitoring and blocking information leaks via the network, and a component called Content Alarm DT 2.0 that's designed to do the same at the desktop level. The company touts it as the first content monitoring product designed to prevent data leaks at both the network level and at the desktop. Meanwhile, PortAuthority Technologies Inc. (formerly Vidius) enhanced its content monitoring product, PortAuthority for Internal Mail, with a function for scanning internal e-mails for signs of data misuse. The product, which already allows organizations to monitor external e-mails, adds support for Microsoft Exchange 2003 internal e-mail and for ISA 2004 Web proxy servers.
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Security Section
Sponsored by
Reflex Disknet Pro
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Protecting Your Removable Media
When it comes to protecting the organization's intellectual properties and member information, I/T security professionals must be proactive. Gartner's July 2, 2004, white paper warns: "Giving your staff free rein to use [removable media] at work could lead to breaches of security and loss of data." Achieving legislative compliance requires controlling the ever-increasing risks posed by USB and other plug-and-play mass storage devices. This is imperative in the highly mobile, Windows plug-and-play environment that most I/T security professionals find themselves in charge of today.
Reflex Disknet Pro delivers the ability to centrally define and enforced IT workstation security policy, based on the users role in the organization. It is automatically deployed and updated and provides for the control of unwanted files in your environment, especially viruses. Regulatory compliance is provided through transparent encryption of all data written to removable media, while allowing the access to encrypted data on removable media away from your network through the use of a secure password.
Reflex Disknet Pro is the only removable media control and encryption solution to receive Common Criteria certification and is the preferred enterprise-wide solution for small, medium and large businesses.
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To sign up for an upcoming
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Leaders
Roundtable
ONLINE
BANKING:
BUILDING LOYALTY & MARKET SHARE THROUGH ENHANCED ONLINE SERVICES
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Technology
and Marketing
Health savings accounts (HSA) have been around for a couple of years now, but are just starting to gain attention and traction. Find out more about HSAs and how they can help your credit union garner new deposits and debit card interchange income in the July issue of Credit Union
tech-talk - subscribe today.
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Technology & Marketing Section
Sponsored by
Selient
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Are you looking to increase Loan Volumes, cut processing times, as well as
offer superior Member Service?
Look no further than
LoanStation, Selient's industry leading consumer loan origination system. LoanStation provides you the ability to automate your lending process and increase member service with decisions in seconds not hours. LoanStation's straight through processing allows you to cut processing time and approve loans at the right rate for your members so that you get the best margins possible and your member gets the service they expect.
But don't take our word for it, read what one of our clients had to say - Gerald Guy, CEO of KEMBA Financial CU stated:
"We appreciate the partnership we have formed with
Selient. The LoanStation application has allowed us to cut our processing time in half, while providing our associates with the tools to effectively sell our members the loan products and insurance coverage they need."
LoanStation is an affordable and value driven product meant for Credit Unions of all sizes. To learn more about LoanStation and to view a short demonstration of its capabilities please visit:
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or call Chris Sage at
317-577-0665
or email
csage@selient.com
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Online
Banking/E-Commerce/Website Design
According to Boston-based Celent Communications, Internet banking is "still in a strong growth phase." While about one-third of US households have active online Internet banking users, that figure should approach 50 percent by the end of the decade. Learn more about the current state of online banking from Celent's research in the July issue of Credit Union
tech-talk - subscribe and stay on top of online banking trends.
TeaLeaf Technology's RealiTea software is designed to track your members' movements on your website. The package records exactly what happens as members click from page to page and from process to process, including how long it takes Web pages to load and how users navigate each page. It allows you to be aware of how many people are using the system and to identify where a failure occurred. You can also use the software to monitor and report on internal use of Web-based applications.
Prepaid card markets will grow by over 20 per cent through 2010 to become one of the fastest growing payment segments, a recent report from Mercator Advisory Group advises. They believe that prepaid cards offer financial institutions increased income and good branding opportunites. Especially noteworthy are gift cards, which TowerGroup predicts to be a $90 billion market by 2007. In short, FIs issuing prepaid cards gain incremental revenue, product extensions, increased deposits, and member/customer acquisition.
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Internet
Access
Savvy organizations are not just setting up employees to work from their homes because it is a nice perk to offer. They are also factoring these remote work sites into their business continuity plans. Disasters tend to affect businesses in three major areas: loss of work space, loss of technology, and loss of staff. Telework proponents say that telecommuting can address many of the problems that arise when a disaster causes operational chaos. Find out more in the July issue of Credit Union
tech-talk and in our upcoming June 30th Webinar on telework.
An international standards group has approved a new DSL (digital subscriber line) standard that it says will increase the technology's upstream and downstream speeds to as much as 100 megabits per second - 10 times faster than the fastest DSL now offered by carriers. The International Telecommunications Union approved the standard for Very-High-Bit-Rate Digital Subscriber Line 2 (VDSL2) last week, but unfortunately it might be years before anyone can use it. For instance, BellSouth is currently expanding its ADSL2 service, which can reach speeds of 24 Mbps, so they won't be in any rush to move to VDSL2. By contrast, Verizon's strategy is to deploy fiber to the curb and then lay more fiber all the way to the home or office for customers who sign up for its Fios high-speed service. So they may pass on the new standard since it is designed to run over standard copper telephone lines.
Meanwhile, Verizon is planning to add class-of-service features to its switched Ethernet LAN and Ethernet virtual private line services, which are predominantly used for enterprise branch-office site-to-site communication. The service costs $900 to $1,000 per month for 10M bit/sec throughput, seven times the bandwidth of a 1.5M bit/sec, $400- to $500-per-month frame relay T-1 connection. Verizon says that they will be the first incumbent carrier to offer Ethernet with three distinct classes of service.
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Call
Centers
The National Telecommuting Institute, Inc. (NTI), a not-for-profit organization, wants to help organizations with call centers 'go virtual.' They tout the benefits of remote call center agents: lower turnover, qualified candidates eager to work at home, lower real estate costs, greater flexibility in scheduling, and increased disaster recovery options. In the last 10 years they have helped dozens of call centers go virtual. They can even help recruit, screen, and equip home agents at no cost to you. To find out more, go to their website:
http://nticentral.org
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Conferences
Catch
Tom and Bill Rogers, Associate Editor of Credit Union
tech-talk at the following conferences in
2005:
June
29, Las Vegas, NV - Financial Service Centers Cooperative’s Shared Branching
Conference
August
25, San Diego, CA - Harland's Connections 2005 Conference
October 6-8, Naples, FL - Firefighters' National Credit
Union Conference
November 10-12, New Orleans, LA - CU InfoTECH Conference
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