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General
News
* Corillian & Online Resources Extend Partnership
* Digital Resolve Partners with R.C. Olmstead
* NIH FCU Incorporates Integrated Media Management Technology with Summit
* Baxter CU Picks Akcelerant Productivity Framework
* Suncoast Schools FCU Chooses RSA
Corillian Corporation and Online Resources Corporation, leading providers of online banking and bill payment services, announced they have entered a new, multi-year reseller agreement to provide credit unions comprehensive bill payment services. The agreement is an expansion upon a referral arrangement that exists between Corillian and Princeton eCom, which was acquired by Online Resources on July 3, 2006.
R.C. Olmstead, a data processing company that has been serving the credit union industry for more than 25 years, has entered into an agreement with Digital Resolve, an authority in transparent, risk-based authentication for financial institutions, to provide strong protection against online fraud to its credit union clients using the company’s Fraud Analyst solution. R.C. Olmstead will offer Digital Resolve’s Fraud Analyst risk-based authentication platform for integration into its home banking product.
Integrated Media Management (IMM), which specializes in output management and document automation technology, announced that National Institute of Health Federal Credit Union (NIHFCU) is now using IMM’s TotaleAtlas document presentment solution and TotaleReceipts products through seamless integration with their Summit Information Systems Spectrum core processing solution. NIHFCU is also using IMM's TotaleReceipts, a receipt product with indexing and signature capturing capabilities.
Baxter Credit Union of Vernon Hills, IL, a Top 100 credit union with over $1B in assets and 118,063 members, has signed on to implement an enterprise use of the Akcelerant Productivity Framework with CollectAnywhere as their new collections management system and ServiceAnywhere as their new member/lending service system. The Akcelerant Productivity Framework is a workflow, queuing and analysis engine designed to be used in any organization to automate business processes.
Suncoast Schools Federal Credit Union, the seventh largest credit union in the United States, has selected RSA Security to provide its members throughout the west coast of Florida with a more secure online banking environment through the RSA Adaptive Authentication solution. Suncoast Schools FCU has deployed the site-to-user authentication and risk-based authentication modules.
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Hardware
News
Sharp has introduced a new fax product that moves beyond the traditional fax called The BroadbandFax (model UX-B800SE). The unit combines the features of a traditional fax, copier, phone and scanner into a single machine with the added benefit of direct to e-mail faxing capabilities. The built-in scanner enables documents to be sent via PDF or TIFF format directly to an e-mail without connecting to a PC. When the document is loaded, the user can type in an e-mail address, press start and the fax is sent directly to the e-mail recipient. The UX-B800SE also offers two-sided send, which lets users fax two-sided documents easily, as well as basic copier functions such as sorting and zoom. Suggested retail price is $159.99.
The office printing environment has undergone many changes in recent years. Now that the printing and copier technologies are converging in the form of the MFP (multifunction) printer device, IT managers are finding themselves in a position where they must take control of the complete printing and imaging environment. Learn more about these trends in the September issue of Credit Union
tech-talk – subscribe today.
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Software
Updates
Credit unions that would like to protect sensitive data but are on a tight budget may want to consider AxCrypt from Axon Data. AxCrypt File Encryption Software is free personal privacy and security software for Windows 98/ME/NT/2K/XP. It features AES-128 file encryption, compression and transparent decrypt and open in the original application. Since AxCrypt works on a file-by-file basis, you can easily send encrypted files to other users via e-mail or any other means, you can even make self-decrypting files so the recipient does not need AxCrypt installed to decrypt.
The Aite Group, an IT consulting firm, is predicting that an estimated 1,100 financial institutions will be replacing their core systems over the next three years. They believe that the biggest drivers are that existing systems have become outdated, inefficient or too costly to operate. The Boston-based firm says that credit unions in particular will acquire new core systems in order to enhance their competitiveness and expand capacity to process new services, like business lending or mortgages.
Microsoft's Group Policy Management Console (GPMC) allows administrators to manage both Windows 2000 and Windows Server 2003-based domains with the Active Directory service. A company called NetPro recently announced that it had begun shipping GPOADmin, a low-cost complement to Microsoft's GPMC. GPOADmin simplifies Group Policy administration and management by automating critical tasks such as GPO (group policy object) version control, auditing and comparison. NetPro also offers a White Paper entitled "Effective Group Policy Management" that will help admins manage group policy objects.
Software Section Sponsored by
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ATMs/Kiosks
The ATM Industry Association has launched a new online service called ATM Risk Management (ARM) and includes a 50 question ATM Risk Survey. The survey covers five types of risk: corporate risks, business risks, financial risks, crime and fraud risks and liability risks normally covered by insurance. Members complete the online survey and are then provided with a scorecard and risk rating, as well as a set of risk management recommendations related to the areas of risk which have been identified by the survey. The self-assessment system is confidential and can be run numerous times in order to test how implementing the risk mitigating steps has led over time to reduced risks.
Mid-tier ATM manufacturer Triton plans to push further into the financial institution market later this year and next year with their FT7000 model. The through-the-wall ATM should rollout in pilots this fall, followed by full production in 2007. The FT7000 will complement their FT5000 XP model and represents Triton's most sophisticated ATM to date. The FT7000 is their first deposit-accepting machine, and will be able to handle between 5,000 and 15,000 transactions per month.
Memphis Area Teachers' Credit Union is targeting the growing Hispanic community in their area with the introduction of a Spanish language ATM. The new machine, called Smarty ATM, is located in El Mercadito, the city's first fully Hispanic-owned marketplace that supports more than 50 businesses.
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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
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Our current CU partners include: AEDC, Beacon, Bronco, Carolina Collegiate, Educators, Freedom First, Food Lion Credit Association, Heritage Trust, Martinsville
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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.
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Persay Ltd., a provider of biometric speaker verification technology, is targeting financial institution contact centers with their FreeSpeech biometric speaker verification system. FreeSpeech transparently authenticates the institution's callers while they are engaged in a conversation with the contact center agent. The system monitors the caller's voice in real time and compares it to the caller's pre-enrolled voiceprint, acquired from previous calls to the contact center. The firm claims that by eliminating the need for authentication questions, FreeSpeech enables contact center agents to focus on providing quality service while reducing call duration, thus saving valuable time.
A survey recently conducted by AuthenTec, a provider of fingerprint sensor security, found that those who use fingerprint sensors on their PCs praise them especially for their ease of use and enhanced security. Price doesn't appear to be too much of a concern: 94 percent of the respondents said they would pay more than $25 to add biometrics to their PC and 77 percent said they were willing to pay more then $50. The participants’ favorite benefit was the ability to enhance PC security while replacing the need for passwords.
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Wireless
World
Small businesses will get some of the wireless features enterprises already have as
Cisco Systems' Linksys division expands its product lineup. That is because Linksys is building security and management features into its products to help businesses with fewer than 100 employees keep their wireless networks safe. Find out more in the September issue of Credit Union
tech-talk - subscribe today.
MasterCard says that adding RFID tags to credit and debit MasterCard cards has led to increased usage of its cards over cash. MasterCard's internal data indicated its accountholders paid with their MasterCard credit or debit card 18 percent more often once those cards were enabled with PayPass. Their research shows that so many PayPass transactions are being made for small dollar amounts that cardholders are using the card where they formerly paid with cash.
Novato, CA-based ClairMail is targeting financial institutions with their ClairMail system. The company says that one nationwide bank will save over $40 million dollars using ClairMail by converting 1% of call center transactions from phone to mobile banking. Online bankers can check balances, view recent transactions, transfer funds, and view available credit from any mobile or desktop device with ClairMail's wireless banking solution.
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Security
Section
At the recent Black Hat security conference, a security expert at an unnamed financial services firm said that the multifunction printers found in many offices are not dumb devices, but are computers that represent a security risk. "Stop treating them as printers. Treat them as servers, as workstations," Brendan O'Connor said. Once a printer was compromised, O'Connor could use it to map an organization's internal network and change the internal job counter which can reduce, or increase, an organization's bill if the device is leased. Additionally, the breach permits access to any of the information printed, copied or faxed from the device.
A company called Privacyware is targeting organizations that run web servers on Microsoft Internet Information Services (IIS) with their ThreatSentry 3.0 solution. They say that it is an Application Firewall and Host Intrusion Prevention package that supports single or multiple server environments and provides protection from an array of documented exploitive techniques including: Directory Traversal, Cross-site scripting, Parameter Manipulation, Buffer Overflow, Denial of Service, SQL Injection, Parser Evasion, High-bit Shellcode, Printer Protocol, and Remote Data Services. It has a list price of $399 per server.
Los Angeles-based Innovative Card Technologies (InCard), has found a way to build a display, battery and password-generating chip into a card, such as a credit card. Not only can the DisplayCard generates passwords that can be used to validate online banking logins or transactions, but the firm says that it can be your credit card, your employee ID card and give you access to buildings. The card is as thin and flexible as a regular credit card and is guaranteed to work for three years and 16,000 uses.
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Security Section
Sponsored by
RSA Security
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We don’t
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Take the anxiety out of choosing
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Transparent risk-based
authentication—Thanks to the industry’s
lowest false-positive rate legitimate users
are protected, but not bothered. That means
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Visible site-to-user
authentication– Widely-deployed “shared
secret” technology increases your members’
confidence in transacting online by assuring
them that they’ve logged on to your
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Tangible one-time password
authentication — time-synchronous technology
provides peace-of-mind to members who are more
prone to risk, and those who prefer more
tangible security.
For more, download the Tower Group
Report: Doing
the Right Thing: Bank of America Voluntarily
Implements Strong Online Authentication
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Leaders Roundtable
ONLINE BANKING:
Expanding the Channel with Convenience and Security
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Technology
and Marketing
According to Accenture, more and more organizations are investing in analytics technologies, such as customer relationship management, data warehousing and business intelligence software, and investments in these technologies are paying off. Respondents to a survey conducted by Accenture said that better management decision-making is the most important objective in implementing new business software platforms. Data warehousing, reporting software and BI software were the most frequently deployed analytical and reporting tools implemented by the companies that responded to the survey.
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Technology & Marketing Section Sponsored by
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Online
Banking/E-Commerce/Website Design
A recent JupiterResearch study determined that an increasing percentage of shoppers are choosing to utilize debit cards instead of credit cards on the Internet. Somewhat surprisingly, a larger number of consumers are throwing off security worries about employing debit cards on the Internet. As more issuers foster their consumer relationships, frequently via total-banking rewards programs, the credit card's popular points-for-purchase element could also become a less important differentiator. JupiterResearch estimates that 42 percent of total 2007 American e-commerce transactions will be launched with debit cards compared to 39 percent with credit cards.
Released just as Callahan & Associates’ 2006 Credit Union Technology Survey shows that online multi-factor authentication is the top priority for credit union technology spending in 2006, Covelight Systems has updated their real-time online fraud protection system dubbed Percept 3.0. The firms says that their system combines real-time traffic capture, identity-based fraud detection, analytics, forensics and reporting for a transparent solution to manage online fraud while not interfering with the application performance or the user experience. Covelight partners with Digital Resolve, TriCipher, and others, and just released an appliance – the Percept 5000.
Consumer Reports has come out with some interesting findings on consumers' Internet usage and how fraudulent activity is affecting e-commerce. We will detail their findings in the September issue of Credit Union
tech-talk - subscribe today.
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Internet
Access
According to Forrester and IDC surveys, one of the top issues facing IT professionals that handle telecommunications for their organization is guaranteeing the performance of critical applications running over their wide area network. Analysts say that the ongoing trend towards data center consolidation, the convergence of voice, data and video over the same infrastructure, the continued prominence of the branch office, and the constant rise of non-critical TCP/IP traffic are all contributing to exacerbate the problem of application performance over the WAN. In the September issue of Credit Union
tech-talk, we cover these issues - subscribe today and stay on top of telecom trends.
A startup called Dliveo is hoping to become the FedEx of file transfers with their new Web-based file delivery system. Dliveo uses its servers to handle file transfers of unlimited size between users across the Internet, providing 128-bit security and bandwidth throttling to preserve quality of service. The Dliveo client looks like an email application, and uses email for notifications, but files are transferred directly from the sender's PC to the Dliveo servers to the recipient's PC, bypassing email system limitations while providing transport that is easier to use than FTP. The service is free, if you are willing to accept the banner ads and a 100 recipient address restriction. If you are not, then there will be two other pricing tiers, one for consumers and one for businesses, available this September.
Federal regulators just renewed their push for a wider rollout of broadband over power lines, or BPL. The FCC unanimously adopted an order designed to reaffirm and build on the first set of rules issued for the technology in 2004. While only about 50 BPL systems currently exist in the United States, the push for commercializing the technology appears to be growing. For example, two companies plan to offer BPL to 2 million homes and businesses in northern Texas in the near future, and California regulators this spring gave the go-ahead to test the service in that state.
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Call
Centers
The physical environment that your member service representatives work in has a huge impact on their morale and turnover rates. Many call centers have discovered that once they spent a few dollars to improve the working environment, staff retention improved. We will cover some best practices in facilities design in the September issue of Credit Union
tech-talk - subscribe now.
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Conferences
Catch
Tom and Bill Rogers, Associate Editor of Credit Union
tech-talk at the following conferences in
2006:
September 12-15, Seattle - Washington Credit Union League Convention
October 4-7, San Diego - Firefighter's National Credit Union Conference
November 2-4, Phoenix - CU InfoTECH
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