Credit Union tech-talk News

November 19 - November 23, 2007

• General News
• Hardware News
• Software Updates
• ATMs/Kiosks
• Biometric Digest Highlights
• Wireless World
• Security Section
• Leaders Roundtable
• Technology and Marketing
• Online Banking/E-Commerce/
  Website Design
• Internet Access
• Call Centers
• Conferences

* Jack Henry Announces Mobile Banking Solution
* Deseret First Credit Union Selects Open Solutions
* OSU Federal Credit Union Chooses IMM's TotaleAtlas 
* PSCU Financial Services Provides Free Prepaid Card Readers 
* San Antonio Citizens FCU Rolls Out Aimbridge's Loan Generation Services

Jack Henry & Associates, a leading provider of integrated technology solutions and data processing services for financial institutions, announced goDough, its feature-rich mobile banking solution. goDough, which was developed internally by Jack Henry & Associates, is a browser-based solution. It is device and carrier independent, making it compatible with any web-enabled mobile phone, regardless of make or model, and with all mobile phone carriers. 

Deseret First Credit Union announced it has selected and is in the process of implementing Open Solution's The Complete Credit Union Solution, a relational core data processing platform for credit unions. Open Solutions is a leading provider of integrated enabling technologies for credit unions across the United States, Canada and other international markets. Deseret is also implementing Open Solutions' integrated solutions including cView (CRM/business intelligence), branch capture, image-based item processing, interactive voice response, financial accounting, loan origination and consumer and cash management applications.

OSU Federal Credit Union announced that they are using Integrated Media Management’s (IMM) document preparation engine, TotaleAtlas, to create a more environmentally friendly business process at each of its eleven branches and call center. TotaleAtlas is part of IMM’s TotaleWorks suite of software products for document output and signature capture. The suite also includes TotaleChecks and TotaleReceipts. TotaleAtlas provides users with a document preparation engine that merges XML data and PDF documents. 

PSCU Financial Services, the nation’s largest CUSO, announced that it is offering free prepaid card readers to all of its participating member-owner credit unions. The card readers speed transaction time by allowing account information to be entered in seconds at the teller window, while simultaneously eliminating manual keying errors. The card readers will help automate the purchase of both gift and reloadable cards. 

Aimbridge Lending Solutions, an integrated provider of multi-channel, multi-lender auto buying and lending services, announced that San Antonio, Fla.-based San Antonio Citizens Federal Credit Union has launched its Loan Generations Services. Loan Generation Services is a process that credit unions use to capture member loan pre-approvals via the branch, phone or Web and make them accessible to members and auto dealers via the Internet.  

Hardware News

Epson announced the addition of the CaptureOne desktop check scanner that incorporates RDM Corporation's Magnetic Ink Character Recognition (MICR) method. The firms say that this technology delivers the best MICR read rate of any desktop scanner available today for Back Office and Remote Deposit Capture applications. In addition, Epson claims that their TM-J9000 teller capture solution is the only integrated teller device available today that provides check and ID scanning, validation and receipt printing all in a single compact footprint.

Dell is rolling out a new line of servers that use Intel's latest Penryn chips. The servers are designed to consume less power and include system management tools to better manage IT tasks. At the top of the new servers will be the PowerEdge R900 rack server, which includes OpenManage 5.3, a new version of the systems management software with new tools to better manage virtual environments and power consumption. Dell also announced new PowerEdge R200 and PowerEdge T105 servers. The R200, an Intel-based system, is designed to meet network computing needs, while the T105 is an entry-level, Advanced Micro Devices-based server targeted at small businesses.

Without running a powerful disk wipe package on retired computers, a 100 percent recovery can be achieved using a number of commercially available software tools. However a company called Wiebetech has introduced the first standalone hard drive wiping device dubbed eRazer. Unlike most existing data wiping software solutions, the eRazer doesn’t need a computer to work. You just plug your hard drive in to the device, turn it on and it will take care of the data shredding. The eRazer comes in two flavors, a $99 regular version that only works on desktop IDE hard drives, as well as a $149.95 Pro version that comes with a “Multi-pass” wipe mode. The Pro version can also be upgraded with a $50 converter to handle IDE and SATA hard drives in both desktop and laptop flavors. 

MagTek®’s ExpressCard 1000 is the industry’s first “ALL-IN-ONE” instant issuance and complete card personalization platform forCredit, Debit, ATM, and Financial Gift Cards designed to fit securely and comfortably within a branch location.

For the first time, card personalization features such as color card-printing, magstripe encoding, smartcard encoding, card embossing, indent printing, and foil tipping have been combined into a single device which provides both the physical and logical security features required to meet the demands of a branch or retailer’s card issuing environment.

Equipped with MagnePrint® card authentication technology (www.magneprint.com), the ExpressCard 1000 offers the capability to capture the card's reference MagnePrint at the time of card issuance so that reference value may be used in conjunction with complementary risk management analytics with card present transactions. The ExpressCard 1000 can be connected as a peripheral to MagTek’s IntelliCAT and MCAPS 3000 PIN selection and instant issuance software suites creating a complete and secure card issuing platform.

For more information on ExpressCard 1000, go to www.magtek.com or call your MagTek sales representative at 800-788-6835.

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ATMs/Kiosks

German ATM manufacturer Wincor Nixdorf just unveiled its new ProCash 3000 Coin system that counts up to 1,250 coins per minute. ProCash 3000 Coin is a free-standing system designed for lobby areas and is configured to handle up to six sacks of coins. Wincor also released a new compact SlimCash 200 ATM complete with system and monitoring software as well as a software application for the creation of advertising campaigns. An optional feature of the SlimCash 200 is an illuminated accessory for advertising. 

Korean ATM manufacturer Nautilus Hyosung has come out with their new Monimax ATM series. The rollout includes the Monimax 7600, a full-function lobby ATM; the Monimax 5300, a full-function ATM that can be upgraded with a sidecar for additional services; the Monimax 6100, a check-imaging ATM; and the Mini-Bank 1800, a retail ATM.

NCR announced the latest evolution of its ATM channel Managed Services portfolio: Transaction, Cash and Cash-in-Transit (CiT) Monitoring services. These services are designed to assist credit unions with the complexities of managing the ATM channel. Transaction Monitoring constantly monitors the number of transactions, reversals or denials at an ATM and compares them to agreed hourly thresholds. Cash Monitoring, which proactively monitors the cash levels in the ATM network, offers two cash thresholds for each ATM. Finally, CiT Monitoring provides real-time tracking of CiT replenishment activity. 

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A leading telephone banking vendor has added voice authentication to their banking application. We will cover the details in the December issue of Credit Union tech-talk - subscribe today.

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SRM Technologies, a top global provider of software services to financial institutions, announced SRM Mobile Wallet, an advanced mobile payments software application. SRM Mobile Wallet enables users of cell phones or other mobile devices to pay for goods and services using the contactless payment systems already in place at over 45,000 merchants. Utilizing NFC (Near Field Communication) enabled mobile devices, SRM Mobile Wallet electronically stores credit, debit and/or gift card credentials on the phone, and securely transmits the card details to the NFC contactless reader. 

Crone Consulting says that credit unions should use financial alerts as their foremost tool to engage mobile banking users. The firms believes that event-driven alerts, sent via voice or text, are a relatively easy first step for credit unions to utilize their relationship with mobile members and to “jump-start” their own mobile financial initiatives. A side benefit is that these proactive notifications can take some stress off credit unions' call centers because members will not have to call in to see whether a check or a deposit has cleared.

According to forecasts from TowerGroup, the number of American consumers using mobile banking services will accelerate over the next five years, rising from 1.1 million in 2007 to more than 40 million by 2012. The growth will be driven by major improvements in technology across wireless networks, handsets and applications, says TowerGroup. Analyst Charul Vyas states that "financial institutions must invest substantial marketing dollars to increase consumer awareness about mobile banking, as well as remain vigilant regarding privacy and data security in this area." 

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McAfee's Avert Labs issued their top predictions for security in 2008. They include: 1) more Web 2.0 attacks; 2) more PCs will be infected with botnet software; 3) the emergence of IM-based attacks; 4) Microsoft Vista will become a more likely target as it gains popularity; 5) phishing attacks will continue targeting smaller, less-popular sites; 6) parasitics - software that modifies existing files on a disk and inject code into the file - will grow by 20% in 2008; 7) virtualization will be targeted by malware authors; and 8) VoIP attacks will rise 50%. 

Microsoft is now offering organizations a set of guidelines and recommended settings for securing 2007 Microsoft Office applications with Active Directory's Group Policy - along with a tool to help deploy them. The 2007 Microsoft Office Security Guide includes security and privacy settings to help protect email and Office documents from attack. Microsoft has also released GPOAccelerator, a tool that automatically creates the Group Policy objects for deploying the security settings for the latest version of Office applications - Access, Excel, InfoPath, Outlook, PowerPoint, and Word - as well as for Windows XP and Vista. 

A major telecom company is introducing a nationwide program that gives owners of small and medium-size organizations some of the same tools big security companies offer for monitoring employees and operations from remote locations. Monthly monitoring charges range from $9.95 for a single location to $39.95 for five locations. We will cover this system in the December issue of Credit Union tech-talk - subscribe now.

MAGENSA™ is a trusted verification authority (TVA) that provides real-time remote-hosted credential authentication services. These services enable credit unions, financial institutions, businesses, and government agencies to integrate PCI DSS and FFIEC multi-factor authentication and end-to-end data encryption capabilities into their existing processing environments without the need for substantial financial investments or massive changes to the existing infrastructure.

Specifically tailored to enhance the security of internet banking and ATM applications, MAGENSA delivers unprecedented security and authentication using the familiar magstripe card credentials (secure tokens) that a credit union has already issued to its members. MAGENSA is powered by the trusted and proven card authentication technology known as MagnePrint® (www.magneprint.com). MagnePrint differentiates a members’ authentic magstripe card from an altered or counterfeit version, transforming the traditional magstripe card into a powerful security token.

MAGENSA’s Secure Data Center (SDC), a reliable 24x7 operations center that is maintained 365 days a year, simplifies the integration of data decryption and MagnePrint scoring into existing websites, and allows for data federation across institutional domains.

For more information on MAGENSA, please visit www.magensa.net or call 877.MAGENSA.

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Core Systems: 

Using Core Systems to Increase Loans and Deposits

AFTECH - http://www.aftech.com   Read Joseph Antellocy's comments: http://www.cunews.com/roundtable/AFTECH.pdf

COCC - http://www.cocc.com   Read Mark Shaw's comments:   http://www.cunews.com/roundtable/COCC.pdf

CU*Answers - http://www.cuanswers.com   Read Randy Karnes' comments:     http://www.cunews.com/roundtable/CUAnswers.pdf

Enhanced Software Products - http://www.espsolution.net   Read Matt Lefler's comments:    http://www.cunews.com/roundtable/ESP.pdf

Galaxy - http://www.fiserv-galaxy.com   Read Jay Slavin's comments:     http://www.cunews.com/roundtable/Galaxy.pdf

Harland Financial Solutions - http://www.harlandfinancialsolutions.com   Read David McConney's comments: http://www.cunews.com/roundtable/HFS.pdf

IntegraSys - http://www.integrasys.fiserv.com Read Anne Stauch's comments: http://www.cunews.com/roundtable/IntegraSys.pdf

Open Solutions - http://www.opensolutions.com   Read Michael Nicastro's comments: http://www.cunews.com/roundtable/OSI.pdf

ShareOne - http://www.shareone.com   Read Daryl Tanner's comments:   http://www.cunews.com/roundtable/ShareOne.pdf

Summit Information Systems - http://www.summitsite.com   Read Kevin Sparks' comments:   http://www.cunews.com/roundtable/Summit.pdf

Symitar - http://www.symitar.com   Read Kathy Hooker Burress' comments:   http://www.cunews.com/roundtable/Symitar.pdf

USERS - http://www.users.com   Read Eric Panepinto's comments:   http://www.cunews.com/roundtable/USERS.pdf

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There is a huge difference between training and coaching, according to some marketing and training experts. We will cover this topic in the December issue of Credit Union tech-talk - subscribe now and get the full story.

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CheckFree unveiled its OpenChannel strategy, which they say lays the foundation for the next generation of integrated and optimized online financial services. Utilizing industry-standard web services, credit unions can customize the presentation of online banking and bill payment functionality. CheckFree can also enable access to online services across multiple channels, including mobile devices, ATMs, kiosks, teller stations and contact centers.

Equifax announced a paperless lending solution that allows credit unions to close
loans electronically. Lenders now have access to a new electronic signature and vaulting solution that Equifax has brought to market by forging relationships with Carleton and eOriginal. The solution provides a complete process for origination, underwriting,
closing, managing and selling loans electronically through Equifax's APPRO loan origination platform.

Silicon Valley-based KeyPoint Credit Union has teamed with mobile banking firm MShift to develop an application that enables members to access their Web accounts from within online social networking site Facebook. KeyPoint CU - which serves technology companies including Apple and Google - is the first financial institution to launch account access via Facebook. The application provides members with secure, one-click access to online account information. All account information data is encrypted with a minimum of 128 bits and no user data is stored on the Facebook servers. The system also provides users with information from and about KeyPoint CU and includes a social forum for members. 

Revolutionary Convergence of Security Technology for Secure Internet Banking!

MagneSafe^TM P55 is a portable card reader/authenticator with four key technologies for secure online banking: Cardholder Data Encryption, MagnePrint^® card authentication technology, Website Authentication and Track 1, 2 and 3 card reading capabilities. In conjunction with MagneSafe^TM, the MagneSafe P55 is designed to offer secure, multifactor authentication for Internet banking, empowering consumers with the freedom and confidence of knowing that their transactions are protected anytime, anywhere.

MAGENSA, a Trusted Verification Authority that provides real-time, remote-hosted credential authentication services, allows credit unions to integrate PCI DSS and FFIEC compliant multifactor authentication, data encryption, website authentication, and data federation capabilities without the need for substantial financial investments or massive changes to the existing infrastructure.

For more information about the MagneSafe P55 or MAGENSA, visit www.magensa.net, or call 877.MAGENSA.  

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Siemens has released a new version of their HiPath 4000 V4 real-time IP system. The HiPath 4000 v4 system incorporates open interfaces and is designed for integration into existing network environments, including circuit-switched or packet-switched systems — or a hybrid of the two. Additions include a user license that includes a voice mail and CTI client, which provides a consolidated view of all messages within the unified messaging platform. Siemens’ virtual numbering plan lets administrators easily integrate branch offices and other off-site extensions. The system also provides for end-to-end encryption of all IP traffic. 

According to the Organization for Economic Cooperation and Development, the US has less broadband penetration and slower speeds than many other countries. For example, Japan's average broadband speed is more than 10 times that of the U.S. while its subscription prices are only about 50 percent higher. The OECD in June ranked the US 15th in broadband penetration among the 30 members. However, the US had one of the lowest costs for broadband service: the range for a monthly subscription was between $14.99 for lower speeds and $199.99 for the top level of service. 

T1s, VoIP, DSL, VPNs… We Have You Covered!

The credit union world changes fast and technology must keep up. Ewart Technologies has solutions that can help your credit union stay on top. Covad’s voice and data services, along with our robust VPN solutions, integrate seamlessly to provide your organization with flexible, affordable communications.

Since 1997, Ewart Technologies, Inc. has been a trusted solutions provider for credit unions, offering a full range of technology services designed to maximize the value of IT investments.

Whether your organization simply needs a T1, DSL, Hosted VoIP, or PRI replacement, or you don’t have a clue what any of that means and need help wading through the techno-jargon to find a solution that makes sense, Ewart Technologies can help.

Call us today, toll-free at 877.241.1490, or visit us at: www.EwartTechnologies.com

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Research by the North American Telecommunications Association shows that 90% of callers on silent hold abandon after 40 seconds. Playing music for callers who are on hold will increase the hold time by 30 seconds; however, the type of music played will have an affect on the perception of delay. According to research by Avaya, callers perceived the wait time to be longer when rock music was played, while “light jazz” created the perception of a shorter wait time. However, a combination of on-hold music with informational messages entices callers to hold for an average of three minutes. Experts advise that you:

- Create a variety of messages and change them every few weeks. 
- Keep messages short - under 50 words.
- Write scripts in a conversational style. 
- Use consistent voicing. 
- Be careful when providing estimated wait times. 
- Try to create humorous, entertaining, informative messages.
- Thank people for staying on hold.
- Record emergency messages before you need them.

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Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2007:

June 5-6, Las Vegas - Credit Union InfoSecurity Conference

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