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General
News
* CU*Answers
Announces New Upgrades to CU*BASE
* Symitar Signs Kentucky Telco FCU
* PassMark and VASCO and MarkMonitor Join Forces
* Selient Signs First Community CU
* CoreTrac Announces Strong 2005
CU*Answers, a
100% Credit Union owned CUSO, released many new
features to its flagship CU*BASE Member Processing
during the 4th quarter. These new features affect
various modules including: Indirect/ Dealer
Lending; Reduced Credit Bureau Pricing; Escrow
Rewrite; Loan Applications; Member Service
Rewrite; Unlimited Joint Owners; Account
Nicknames; Teller Posting of Checks; and Tiered
Member Services.
Symitar, a subsidiary of Jack Henry & Associates
that provides credit unions with software systems
and related services, announced that Kentucky
Telco Federal Credit Union has selected the Episys
platform to provide enterprise-wide automation.
This credit union, which has more than $168
million in assets and approximately 30,000
members, will install Episys in-house.
PassMark Security, a leader in strong mutual
authentication for online banking, and VASCO Data
Security International, a top provider of strong
user authentication and e-signature products, have
partnered to deliver a one-stop combination of
software- and hardware-based authentication
products for online transaction security. PassMark
Security also announced a partnership with
MarkMonitor, a leader in online corporate identity
protection services, whereby they will work
together to help credit unions address their
online security requirements
Selient Inc., which specializes in
Internet-delivered lending software targeting
credit unions, announced that First Community
Credit Union ($232 million, 28,000 members), the
largest credit union in North Dakota, has signed a
three-year contract to become the first United
States client of Selient-PLUS, a unique loan
origination and cross sales application.
CoreTrac, Inc., the provider of ResourceOne, a
CRM/Sales Force Automation solution for credit
unions, reported strong growth for year-end 2005
with a significant increase in sales bringing
their customer base to over 50 financial
institutions nationwide ranging from $22M-$5B+ in
assets. CoreTrac is a privately held corporation
headquartered in Austin, Texas.
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Hardware
News
American Power
Conversion (APC) announced a series of small
footprint coolers for data center servers that are
able to chill up to 30 kilowatts per rack. The
InfraStruXure InRow RC is a modular cooling box
that is installed next to the IT equipment rack in
small computer rooms or large data centers. The
InRow RC consists of a half-rack-width chilled
water unit with variable speed fans. The second
system is the InfraStruXure CDU which is a
flexible chilled water distribution system
designed to work with the InfraStruXure InRow RC
unit. It offers flexible and joint-less piping
that reduces the risk of water leakage in overhead
installations. Finally, they offer the Rack Air
Containment System which is a modular enclosure
designed primarily for blade servers.
IBM rolled out a raft of new servers based on its
Power5+ processors, including a new server with a
Power5+ chip running at 2.2 GHz and several new
machines based on its quad-core module (QCM)
technology that allows four Power5+ 1.5-GHz cores
to plug into a single socket. IBM also released a
low-cost workstation that uses its PowerPC 970
processor. The IntelliStation Power 185 Express
workstation using a single- or dual-core PowerPC
970 processor. As part of the server rollout, Big
Blue is offering users who buy IBM's new QCM-based
p5 servers a 50% price reduction on IBM
middleware, such as WebSphere Application Server
and DB2 Enterprise Server Edition.
If your laptop or desktop PC has only one video
port, now you can use it to run as many as two
external displays with a "video splitter" called
the Matrox DualHead2Go. The device (about $150) is
basically a set of cables and a small box that
sits outside your master computer. Using the
included software, you can display up to 2560 x
1024 across two external analog monitors. (Matrox
publishes a complete compatibility list.) Counting
your laptop's built-in screen, you can enjoy up to
three displays at a time.
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Software
Updates
There are many network monitoring suites on the
market, but most of them sport price tags that are
far beyond the reach of most credit unions. One
tool that is more affordable is called Network
Eagle. It includes a free 30-day trial, a simple
installation and the following features:
- Ping Check
- FTP Site Check
- HTTP Site Check
- Database Checks
- Application/Process Check
- Disk Space Checks
- Event Log Checks
- NT Service Checks
- Custom Scripts and External Commands Checks
All of these checks run agentless - there is no
software installed on the target systems.
IBM just unveiled its Tivoli Identity Manager
Express, security software designed for small and
midsize businesses. The software aims to block
companies' employees from using former workers'
user names and accounts that they may have
forgotten to cancel. Tivoli Identity Manager
Express is also designed to simplify compliance
reports by automatically collecting and formatting
information used in preparing audit reports.
Phoenix Technologies, the computer BIOS maker,
introduced software called Recover Pro 6 ($49.95),
which allows a full restoration of operating
systems, applications and settings in the event a
desktop PC or laptop fails. Recover Pro is release
6 because the software has only been used by
systems manufacturers such as Dell to recover data
from customer's PCs. This version is the first
version an end user can use. Recover Pro lets
users selectively restore a deleted file, restore
the hard drive to a pre-crash state or rewind the
laptop to pre-spyware conditions. The recovery
process can be accessed from a Windows interface
or via the F4 hot key when Windows won't boot.
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
VERO Inc., a financial services technology
provider, announced a marketing relationship with
Tranax Technologies to deliver a new self-service
check cashing system. The solution will combine
VERO's proprietary fraud engine and Tranax's
hardware platform. Featuring both ATM and
automated check cashing services, the new kiosk
will be available later this year following a
pilot program.
Some industry observers think that ATM deployers
must diversify beyond cash dispensing-only ATMs
and add prepaid cards of all types, such as stored
value cards, gift cards, cell phone cards, event
cards, transit passes, and sports and concert
tickets. Learn more about this trend in March
issue of Credit Union tech-talk - subscribe
today.
Columbus Data Services announced that they
installed more than 1,000 wireless ATMLink units
nationwide in 2005 - a landmark for Code Division
Multiple Access (CDMA) technology. ATMLink is a
wireless communications solution from Transaction
Network Services Inc. The success of the system
can be attributed to the fact that the ATMLink
wireless technology allows for rapid installation
and flexible placement of the ATMs, plus it is
comparably priced to standard dial service, but
without the significant expense and delay.
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ATMs/Kiosks Section Sponsored by
Nationwide Money Services
|
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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Pay By Touch
Solutions, which is aggressively marketing
fingerprint biometric systems to both home users
and merchants, is now targeting financial
institutions. The San Francisco-based company is
now targeting credit unions with its biometric
fingerprint identification system for credit
authorization services. Pay By Touch plans to sell
its fingerprint identification system as a safe
and secure method to instantly verify member
identities with a quick finger scan.
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Wireless
World
Despite
improvements in recent years, the wireless
industry has done a poor job of giving businesses
the tools they need to let workers access
corporate data from mobile devices, according to
Cisco System's chief information officer Brad
Boston. He noted that almost all of the focus for
wireless providers is on consumers. Boston found
there was no single place to buy all the software
he needed, and his team had to cobble together
components to secure and manage devices and enable
remote access to corporate data. Hewlett-Packard,
which makes PDAs for use by mobile workers, is
looking to step up and help organizations with
their wireless efforts according to their chief
strategy and technology officer Shane Robison. He
recently said that "there is a huge opportunity in
the enterprise for wireless services."
In a surprise move, the Cellular
Telecommunications Industry Association says it is
no longer opposed to competition from
city-sponsored muni-WiFi initiatives. The change
of heart comes after some members of the CTIA have
become involved in various city-wide high-speed
wireless deployments.
Internet service provider Superior Wireless is
offering wireless Internet and telephone services
to companies in the New Orleans vicinity, even in
areas where traditional phone and cable companies
cannot. The service permits businesses that were
severely debilitated by hurricane Katrina to get
up and running again without having to wait on
phone or cable companies for assistance. Superior
Wireless boasts that after Katrina it now covers
nearly 75% of the New Orleans area. They also
offer free service to local area churches and
nonprofit organizations that are helping the
region to recover.
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Security
Section
Security Tracking
of Office Property (STOP) has been in the business
of securing laptops, projectors, Blackberry's,
PDAs, cell phones and other portable devices since
1990. STOP has developed two asset management
tools: 1) STOP Monitor, a Web-based asset
management application and 2) Monitor Mobile, a
bar code scanning software package. The firm
recommends some relatively easy and cost-effective
physical approaches to preventing laptop theft:
- Brand It: Use a permanent ID marking system that
anonymously tracks the laptop to its registered
rightful owner and eliminates illegal resale
value.
- Lock It: With cables, in safes, drawers,
cabinets and carts; if you can't lock it safely
away, take it with you.
- Alarm It: A thief's two worst enemies are time
and noise.
- Hold It: Never leave your laptop in a parked
car, not even in a locked trunk. Take it with you,
keep it at your side and in your sight at all
times. Treat it with the same care you would your
wallet or purse.
Internet Security Systems (ISS) announced a group
of new products aimed at helping network
administrators, including a network anomaly
detection system. The Proventia Network Anomaly
Detection System is designed to identify points of
failure and compromise on networks and to respond
quickly to network changes without a need for
extensive network administrator interaction. The
system uses an integrated group of analysis
engines to monitor networks and will allow network
administrators to closely monitor critical
services, shut down unused or unauthorized ports,
and segment networks to prevent the spread of
malware. In addition, ISS announced the Proventia
Network Enterprise Scanner, designed to move the
company's product line from vulnerability
assessment to complete vulnerability management
and protection; and unveiled a new hardware design
for its intrusion prevention technology.
Microsoft plans to allow users to manage their
passwords and identities across multiple websites.
The company is set to include technology called
InfoCard in both Windows XP and in the forthcoming
Vista. Using InfoCards, consumers would save
personal information on virtual cards on their
computers. Each card would contain varying levels
of information, and the person could decide which
card is best to use for each Web transaction. On
the back end, the Web server would be configured
to recognize InfoCard data, which would be
encrypted and secure while transmitted to the
site.
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Security Section
Sponsored by
L9.com
|
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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Leaders Roundtable
SECURITY:
Pay Now or Pay Later: Obtaining ROI from Security Solutions
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Technology
and Marketing
Some financial institutions are taking data mining
to new levels in a process sometimes referred to
as "deposit diving." Using the latest check
recognition and image usability technologies,
these institutions are reading and analyzing check
images and then making customized marketing offers
based on the check data. Learn more in the March
issue of Credit Union tech-talk - subscribe
today.
Incentive company Rennhack Marketing Services (RMS)
has introduced BankingBonus, a new web-based
incentive rewards platform. BankingBonus allows
credit unions to not only reward members for their
loyalty, but to also provide incentives for
front-line employees to improve member service.
The program allows credit unions to build a
customized and branded online presence where
members and employees can redeem points for
high-value merchandise, gift cards and personal
leisure rewards using points earned or awarded for
specific behavior.
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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
Prosper.com, a
start-up based in San Francisco, allows their
members to lend money to and borrow money from
other people on the site at what the company
claims are better interest rates than those
available through traditional financial
institutions and without some of the risk that
comes from typical person-to-person loans. On
Prosper.com, prospective borrowers register with
the site and allow the company to review their
credit history. Then borrowers post a loan request
of up to $25,000, along with an upper limit for
the amount of interest they are willing to pay.
Loans are not secured by collateral and are paid
off over three years at a fixed rate, with no
prepayment penalty. Lenders deposit their money in
an interest bearing account with Prosper, and then
either review the loan requests individually or
fill out a form permitting Prosper to allocate
money to borrowers who meet certain criteria.
Prosper makes money by charging borrowers 1
percent of the loan amount, while lenders pay 0.5
percent of the loan's balance each year.
Morgan Stanley credit card unit Discover Financial
Services is to take on Visa and MasterCard's
strongholds in signature debit provision with the
launch of Discover Debit. The new Discover Debit
product is the result of its acquisition of the
PULSE ATM/debit network in January 2005 and the
ruling in the Department of Justice anti-trust
case in October 2004 which permits financial
institutions that already issue credit or debit
cards from the bankcard associations to issue
additional cards from other brands. The network
will support two cards - for individuals and
businesses - and offer pro-active fraud prevention
tools and zero liability for individual
cardholders. The cards will be accepted at four
million merchant and cash access locations.
RSA Security has expanded its line of tokens in
two directions, launching both a browser toolbar
and a hardware token that can electronically
"sign" online transactions. Both new products
provide a random number at the time of each
transaction that users enter as part of
establishing their identity. The code they enter
needs to match one that a validation server
generates. The process can be used in conjunction
with a password or personal identification number
for two-factor authentication. Users can download
the RSA SecurID Toolbar Token and have it added to
their browser. Websites protected by the system
can grant users a "seed" that subsequently will
give users a code number every time they return.
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Online Banking
Section Sponsored by
PassMark Security
|
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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Internet
Access
\The Internet is not only a better network than
it was a few years ago, but it continues to
improve rapidly. So much so in fact that many
organizations are increasingly interested in
"Internet substitution." By using the Internet,
organizations are cutting operating costs
because the traffic no longer moves over ISDN,
leased lines or other private network services.
Although telecom experts say that the Internet
is likely to play a bigger role in corporate
networks, it isn't likely to completely replace
private network services anytime soon. Among the
limitations: a lack of QoS (quality of service)
capabilities needed for multimedia applications
such as videoconferencing, and relatively weak
security.
Verizon Business, the organization formed after
Verizon's merger with MCI, announced that it was
adding several features to its Internet
telephony service capabilities, including IP
Flexible T-1, some new customer equipment
choices, Dedicated Toll-Free over IP, and what
the company describes as "advanced fraud
protection for Managed IP Telephony." Verizon's
IP Flexible T-1 is targeted at organizations
with fewer than 24 phone lines, allowing
customers to maintain their existing analog key
systems and calling features while upgrading to
a converged network. Customers with both
Dedicated Toll-Free and VoIP at the same
location can use a single connection for both
their incoming toll-free calls and their
outbound VoIP traffic. Finally, Verizon's
Sheriff anti-fraud expert system is designed to
protect their Business Managed IP Telephony
customers from illegitimate use of their IP PBX
phone systems. The service includes 24/7
monitoring and notification, looking for
customer-specific irregularities that may
indicate misuse.
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Call
Centers
Enterprise Integration Group is a consulting firm
that helps organizations build better IVR
(interactive voice response) systems. The firm
notes that there is a trend for speech recognition
services to be hosted instead of premise based.
There are three key reasons for this approach.
First, it is the service provider's responsibility
to keep up with new releases of the underlying
speech recognition platform. Second, a hosted
solution can be especially cost-effective if call
demand fluctuates dramatically - the customer only
pays for what they use, when they use it. Finally,
the hosted solution eliminates or at least reduces
the need to ramp up and maintain internal
technical expertise on speech recognition. The
firm also points out that speech recognition is
significantly more expensive than touch-tone, and
that by shifting responsibility for optimizing
speech recognition to the service provider, the
initial investment and risk with speech
recognition is minimized.
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Conferences
Catch
Tom and Bill Rogers, Associate Editor of Credit Union
tech-talk at the following conferences in
2006:
February 27, Miami,
FL Winter 2005 Biometric Summit
June
8-9, Lake Las Vegas, NV - 2006 Credit Union InfoSecurity Conference
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