Credit Union tech-talk News

November 26 - November 30, 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

* Pawtucket Credit Union Selects Open Solutions' Imaging Platform
* Ongoing Operations Signs 50th Credit Union
* Passageways Launches New Applications
* OneBridge Launches a New Interface

Pawtucket Credit Union announced it has selected Open Solutions' branch capture and image-based item processing solutions to help streamline operations and enhance its overall Check 21 strategy. Open Solutions is a leading provider of integrated enabling technologies for credit unions across the United States, Canada and other international markets.

Ongoing Operations, an integrated provider of disaster recovery and business continuity systems, announced that 50 credit unions across the country are now using their services. Within a year of the national launch, Ongoing Operations signed on DOT Federal Credit Union as its 50th customer.

Passageways, a West Lafayette, Ind.-based portal solutions provider for credit unions, announced the launch of two news products, the Knowledge Management and the Learning Management applications. The Knowledge Management Application enables employees at various client sites to search the portal for frequently asked questions. The Learning Management Application enables training managers to create, track, deliver and monitor all training initiatives through the portal. 

OneBridge, a credit and debit card processor for credit unions nationwide, announced that they have converted the first credit union to a real-time interface with Open Solutions’ TCCUS-sme system also referred to as SME or the Standard Market Edition. RTP Federal Credit Union in Durham went live with the interface in October. The credit union is utilizing the interface for their in-house Visa credit and debit cards. 

Hardware News

CTS North America announced a new version of their LS100 check scanner that is able to interact with remote management software over the Internet. Called the LS100IP, the new Internet Protocol-addressable unit communicates with back-end systems to aid in error detection and remediation, data collection and reporting. Special features available on the LS100IP are Secure Sockets Layer (SSL) protocols, 10Mb built-in memory for backup and rollback, and managed installation and activation. 

BitMicro unveiled a flash memory-based solid state drive that is designed for the enterprise. The E-Disk Altima will come in capacities of up to 1.6 TB capacity, 3.5-inch format, as well as support for 4 Gbits/sec Fiber Channel. BitMicro says the Altima offers sustained rates of more than 230 MB/s and upwards of 55,000 I/O operations per second. To compare, a fast disk drive will get about 400 I/O operations per second. The Altima is expected to be available in volume in early 2008.

Most people are familiar with virtualization for running multiple operating systems on one physical server, but now virtualization is coming to network switches as well. Learn about the advantages in the December issue of Credit Union tech-talk - subscribe now.

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 has introduced the industry’s first mixed bundle deposit technology. The new modular equipment upgrade allows consumers to deposit a mixed stack of cash and checks at the same time in a single deposit slot with no envelope. Wincor Nixdorf says that their mixed bundle ATM accelerates the deposit process because of its ability to process checks regardless of their orientation in the deposit tray. 

NCR announced the latest version of their APTRA Promote campaign management software platform. The new APTRA Promote 3.0 delivers enhanced functionality and usability of the manager tool, while adding additional couponing and campaign functions. With APTRA Promote 3.0, up to eight different coupon campaigns can now be offered to members at the ATM, including the choice of “no coupon.” Because coupons are printed directly from the receipt printer, credit unions have complete flexibility to change campaigns at their convenience.

Diebold has launched a new service that allows credit unions to remotely deploy Microsoft security patches to Diebold ATMs running Windows’ XP Pro with Agilis software. Diebold say that this service is a low-cost patch deployment alternative to expensive on-site visits. 

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In Japan, Hitachi's finger vein authentication technology is the de facto standard in the financial sector, with about 80 percent of Japanese financial institutions adopting it. The finger vein pattern recognition technology has been under development at the Hitachi Central Research Institute for several years, and the company has received quite a few patents for the technology. Hitachi has now commercialized the operating system and various applications, including PC login devices and validation devices for ATMs. The firm is now targeting the North American and Chinese financial services markets, and recently installed a system at the New York branch of the Shinkin Central Bank.

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The Mercator Advisory Group has released a new report entitled "Mobile Financial Services Security: A New Ecosystem at Risk." This report reviews the current threat, the threats to come and what financial institutions, mobile operators and consumers need to do about them. They say that today's mobile threats are primarily social engineering attacks via phishing emails and its mobile variant via SMS. Known as "SMIShing" this practice may be especially effective as the sender may well be somewhat known to the receiver if the user's mobile address book has also been hijacked. 

Fronde Anywhere, a provider of mobile products for the financial services and corporate sectors, has launched BusinessMobile as part of its Bank Anywhere suite. With BusinessMobile, business managers can make payments or view account information via a secure application stored on the mobile phone. BusinessMobile can also be configured to send proactive notifications that deposits and payments have been received, or reminders to authorized persons to approve a payment. Payments services include the ability to transfer funds; enable dual authorization of payments; approve batch payments; make a one-off payment; and receive text notifications for payments awaiting approval.  

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Foundstone is a provider of vulnerability assessments and security risk management services. They have created a series of tools that are used in the field by its consultants, and the company offers some of this software free of charge to the public. They are available here: http://www.foundstone.com/us/resources-free-tools.asp

Botnets, networks of compromised computers, are unfortunately here to stay. Security experts estimate that there are thousands of active botnets that are infecting millions of PCs. While a majority of these botnets are short lived, lasting only a few hours, some continue for days and even weeks. We will give you an overview of the botnet situation and what is being done to battle them in the December issue of Credit Union tech-talk - subscribe today.

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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Research from The American Society of Training & Development has shown that if an employer provides skills training to an employee their productivity increases 22%. However, if that same employee is given coaching with the skills training, their productivity increases by as much as 88%. That is why sales experts say that you should follow-up new skills sales training with personal coaching for at least 2 months if the maximum return on the training investment is to be realized. 

The Ohio Credit Union League has a financial education initiative called MoneyAndStuff. The program is targeting grades 4, 5, 11 and 12, and is designed to teach students to make smart financial decisions, understand credit concepts, and manage debt.

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Check volume is declining by 4.5 percent annually, and Dove Consulting expects the payments mix to be 80 percent electronic and 20 percent paper by 2010. The research firm suggests that financial institutions will need to come up with a new name for "checking accounts" because consumers are increasingly accessing this money almost any other way but with paper checks. They say that financial institutions need to rethink their operating models when it comes to checking accounts, and acknowledge that debit and other payments devices are becoming the preferred account access methods for consumers. 

According to the National Retail Federation (NRF), cash is fast becoming a thing of the past. The NRF predicts that more than 70 percent of shoppers will primarily use electronic payments for their holiday purchases. US holiday spending is expected to top $470B this year. 

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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Timico and Nortel have launched a tailor-made, hosted VoIP service for small organizations, incorporating a PC-based multimedia voice and video application that integrates with Microsoft Outlook messaging and collaboration client. A combination of the Nortel Application Server 5200 with Microsoft Outlook can make an outbound call a simple “one click” affair. Presence capabilities can be used to determine if the person being called is available, busy or away from their desk if the call is made between two Timico VoIP for Business users. Timico's hosted service means that organizations can deliver business communications tools wherever there is IP connectivity. 

Exinda Networks hopes to gain a foothold in the North American market with its ability to classify “recreational traffic” such as Skype, Facebook, MySpace, and BitTorrent music file sharing on enterprise networks. The new feature arrives as a firmware upgrade for Exinda’s X800 WAN optimization appliance. The new Layer 7 Heuristics Engine in its WAN optimization appliances helps network administrators control WAN usage in order to optimize network performance for business applications.

Whaleback Systems is expanding its VoIP services for small and midsize businesses to include conferencing that costs $50 per month for 10 participants. If bought without Whaleback VoIP services, OrcaMeeting costs $50 per month for audio and $50 per month for Web conferencing. If customers buy Whaleback’s $50-per-month Crystal Blue VoIP service, they can add both the audio and Web conferencing for an additional $50. Customers can do unlimited conferencing for the flat fee.

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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PerformanceEdge is the newest software suite from Aspect Software. It integrates Aspect’s workforce management and campaign management software with recording, quality assurance, coaching, e-learning and performance management systems. PerformanceEdge is designed to track information about agents and generate reports using some or all components of the suite, thereby reducing administrative overhead. Aspect says that its suite accommodates call centers ranging from those with as few as 50 seats to those with more than 10,000 seats, and is flexible in that it doesn’t require you to use Aspect’s call-routing system, or every component of the suite.

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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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