Credit Union tech-talk News

February 19 - February 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

* CU*Answers Adds 7 New Clients
* Sydel Launches VendorXpert 
* Worcester Credit Union Selects COCC 
* CheckFree Announces Agreement to Acquire Corillian 
* GalaxyPlus Introduces Member Rewards Program 

CU*Answers, a CUSO with clients now in 16 states, announced that within the past 6 months, seven new clients have signed data processing agreements taking advantage of the CU*BASE Member Processing System. Recently acquired credit unions include: Aberdeen FCU in Aberdeen, SD: First Choice CU in Coldwater, OH; Iosco Community CU in Oscoda, MI; Lenco CU in Adrian, MI; Logan Community FCU in Bellefontaine, OH; Northern Hills FCU in Sturgis, SD; and PCA FCU in Rittman, OHN.

Sydel Corporation, a leading developer of customized information technology solutions for the financial industry, announced the launch of VendorXpert, a risk-management solution that monitors and tracks the validity of third-party providers, vendors and business partners. The new technology will help credit unions verify that companies and organizations they do business with are trusted entities. 

COCC, a leading provider of next generation technology services for credit unions, announced that Worcester Credit Union of Worcester, MA has selected the company as its technology partner. The $69M credit union with almost 9,000 members says that it plans to grow the credit union in the Worcester area with COCC's assistance.

CheckFree Corporation announced it has entered into a definitive agreement to purchase Corillian Corporation, a leading provider of Internet banking software and services. The acquisition will bring together Corillian's widely used online banking platform and complementary suite of financial applications, and CheckFree's popular electronic billing and payment and online transaction services.

GalaxyPlus Credit Union Systems, a business unit of Fiserv that provides leading technology solutions to credit unions nationwide, is introducing its new rewards solution called Special Thanks and Recognition System (S.T.A.R.S.). GalaxyPlus’ S.T.A.R.S. program is an online, points-based rewards system that can enhance the member/credit union relationship, foster cross-selling efforts, and boost employee performance. With S.T.A.R.S., members earn points for using a credit union’s products and services, which they can redeem for a variety of rewards. Plus, Credit unions can use S.T.A.R.S. to reward employees for their performance. 

Hardware News

Hewlett-Packard has added three new all-in-one (AIO) inkjet printers and three single function color inkjet printers to its home office and small- and medium-sized business product line. HP says that the Officejet Pro L7000 AIO series offer laser quality printing that can print twice as fast as a laser AIO. Within the L7000 series are three printers: L7580 ($299); L7680 ($399); and L7780 ($499). HP has also introduced the HP Officejet Pro K5400 single-function inkjet color printers that range in price from $149 to $249.

Buffalo has rolled out another TeraStation network attached storage (NAS) system called the TeraStation Pro. This 3TB model runs $2183 and comes with four swappable 750GB hard disks. The unit supports RAID levels 1-5 for your choice of speed or data security.

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

Pendum, the nation's largest independent service company for ATMs, announced an expansion of its existing portfolio to include teller cash recyclers and dispensers. Pendum (formerly EFMARK-Bantek) will be a primary reseller of cash recycling devices from manufacturer ArcaTech Systems, and also will provide installation and maintenance services for the equipment. The firm says that cash recycling technology allows credit union branches to handle cash in a simpler way, increasing teller efficiency and streamlining the branch's cash management process. 

VSoft has partnered with Diebold to make it easier to handle check images at ATMs and back offices. Any ATM with Diebold's ImageWay solution can now integrate with VSoft's Image ATM server utility software to capture images at the ATM location for processing in compliance with Check 21 legislation. VSoft's ATM server consolidation solution accepts deposit transaction data including all check images from the ImageWay ATM. Every check and currency deposit is positively matched against the ATM records, and then sent to the central check processing site.

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State driver’s license databases are primarily intended to prevent people from obtaining multiple licenses under different names. However a handful of states are now using increasingly accurate facial-recognition technology to scan their driver’s license databases for wanted criminals. The software takes into account about 8,000 facial data points and delivers potential matches to analysts who examine them one by one, rejecting the vast majority. Some privacy groups believe that the DMV should not act as the identification arm of law enforcement, but at least one DMV said that people seeking a driver’s license at least implicitly consent to allowing their images to be used for other purposes.

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MasterCard plans to work with GSM wireless network operators to pilot an international remittance system using mobile payments technology. MasterCard intends to provide various payment card products as well as the international transaction switching, clearing and settlement for MasterCard MoneySend via its global network. Participating MasterCard financial institutions will provide access to funds via simple card-based accounts, and provide regulatory compliance, as well as risk and exception management. 

Discover Financial Services announced that it will use Motorola’s M-Wallet technology for a test of contactless payments and account management using mobile phones. Once downloaded onto the Motorola cell phones that will be used in the pilot, M-Wallet software will allow cardholders to enjoy tap-and-go purchases at contactless-enabled merchants without having to use their plastic Discover cards. Cardholders also will be able to review payment histories and account balances and receive statements and rewards information. 

Albuquerque-based New Mexico Educator’s Federal Credit Union is supporting the University of New Mexico's plans to setup a wireless campus-wide network. The $600 million credit union has pledged $750,000 to help pay for a free wireless Internet connection for the state’s largest campus. 

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Extrusion protection technology is normally associated with network devices, but now it is headed toward the desktop as well. In action, agent software sits on individual computers and monitors the use of fingerprinted data. It will log, alert on, or block inappropriate actions, such as unauthorized e-mailing or copying the data to a USB drive. Vendors in this space include: McAfee, Provilla, and Oakley Networks.

With more than 4,000 audits under their belts in Latin America, Modulo Security is bringing their Risk Management solution to the United States. The firm says that their Risk Manager is a powerful system that provides structured risk assessment for technological assets (such as software and equipment) and non-technological assets (such as people, process and environments). They claim that their system can reduce the time and skill needed to collect data for technology platforms and applications by up to 75%, and can generate a complete set of written reports in minutes. 

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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SECURITY: 

Finding a Balance between Security and Convenience

Arcot - http://www.arcot.com   Read R. 'Doc' Vaidhyanathan's comments: http://www.cunews.com/roundtable/Arcot.pdf

Code Green Networks - http://www.codegreennetworks.com   Read Chip Hay's comments:   http://www.cunews.com/roundtable/CGN.pdf

Comodo - http://www.comodogroup.com   Read Andrew J. Pynes' comments:     http://www.cunews.com/roundtable/Comodo.pdf

Corillian - http://www.corillian.com   Read Greg Hughes' comments:    http://www.cunews.com/roundtable/Corillian.pdf

Digital Resolve - http://www.digital-resolve.net Read Dennis Maicon's comments: http://www.cunews.com/roundtable/DigitalResolve.pdf

e-DMZ Security - http://www.e-dmzsecurity.com   Read Kris Zupan's comments:   http://www.cunews.com/roundtable/e-DMZ.pdf

GalaxyPlus - http://www.galaxyplus.com   Read Vince Francone's comments:     http://www.cunews.com/roundtable/GalaxyPlus.pdf

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

Intrusion - http://www.intrusion.com   Read Jay Barbour's comments:   http://www.cunews.com/roundtable/Intrusion.pdf

MagTek - http://www.magtek.com   Read Kiran Gandhi's comments:   http://www.cunews.com/roundtable/MagTek.pdf

Network Armor - http://www.networkarmor.com   Read Stephen Goldsby's comments:   http://www.cunews.com/roundtable/NetworkArmor.pdf

Perimeter Internetworking - http://www.perimeterusa.com   Read Kevin Prince's comments:   http://www.cunews.com/roundtable/Perimeter.pdf

RSA Security - http://www.rsasecurity.com   Read Marc Gaffan's comments:     http://www.cunews.com/roundtable/RSA.pdf

SecureWorks - http://www.secureworks.com   Read Jon Ramsey's comments:   http://www.cunews.com/roundtable/SecureWorks.pdf

Symitar - http://www.symitar.com   Read Larry Widel's comments:   http://www.cunews.com/roundtable/Symitar.pdf

TriGeo Network Security - http://www.trigeo.com   Read Michelle Dickman's comments:   http://www.cunews.com/roundtable/TriGeo.pdf

WhiteHat Security - http://www.whitehatsec.com   Read Jeremiah Grossman's comments:   http://www.cunews.com/roundtable/WhiteHat.pdf

WinMagic - http://www.winmagic.com   Read Joseph Belsanti's comments:   http://www.cunews.com/roundtable/WinMagic.pdf

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Microsoft announced the general availability of Dynamics CRM Analytics Foundation, a free bundle of customizable source code and documentation, for users of its customer relationship management software. Customers and partners can use the tools "as-is" or build on them to create customized Business Intelligence applications, including dashboards to run on top of Dynamics CRM 3.0. The bundle includes sample code, prebuilt templates and guidelines for building BI software on top of Dynamics CRM.

Salt Lake City-based America First Credit Union is using Leadfusion's CALCULATORS and Leadfusion's EMAIL solutions to market to members interested in auto loans, credit cards and CDs. The company says that by using information collected via member use of Leadfusion CALCULATORS, America First is able to segment members into products appropriate to their needs and to engage them with an email marketing program designed around their purchase decision cycle.

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As image exchange grows in popularity, the Federal Reserve plans to phase out the processing of paper checks gradually in the coming years. While no firm timetable has been established, a spokesperson noted that "by 2010 we will only support Check 21." The FRB currently processes 25 percent of its checks as images, a number that is expected to rise to 50 percent by the end of 2007 and to 75 percent by the end of 2008. 

NCR has released a new managed-service offering for remote deposit capture that they say allows credit unions to quickly go-to-market with minimal upfront investment or risk. NCR will offer the service to credit unions for their business members via their ImageMark Passport technology and eCommerce outsourcing infrastructure. Business members will capture and balance check deposits through a secure Web interface connected to NCR’s eCommerce operations. 

Experian's research shows that more than one in ten consumers have more than 10 credit cards in their wallets. However, the overall average number of credit cards per consumer is four. Their survey also found that 51% have at least two credit cards.

Safeguard Internet Banking against Authentication Attacks and Phishing

Today's consumers are demanding financial institutions, and for that matter any organization of any size that provides a logon page to personal and business information, deliver unquestionable security whilst maintaining an ease of use balance.

myBiometrix efficiently meets and exceeds these criteria and that of FFIEC and NCUA guidelines through our proprietary interface that addresses the needs of both Consumer and Provider in securing transacting online:

   • Authenticating the consumer (verifying who is accessing information by who they are not what they have)
   • Verifying the providers site (ensuring a Phishing episode is not being perpetrated).
   • Confirming the source of the transaction (originating PC)
In other words, all aspects of the transaction are secured.

myBiometrix leverages an array of foreground and background technology presented through an intuitive user interface that provides multi-factor “personal trait” authentication.

   • irrefutably authenticates “personally” to a website using traits including
   • prevent others from falsely using the owners credentials to log on
   • eliminating the growing incidence of Phishing and Pharming attacks
   • eliminating Key Logger exposure as the keyboard is not used
   • eliminating the need to remember or write down pass-phrases

myBiometrix authenticates through a range of methods including:

   • Finger recognition
   • Voice recognition
   • Face recognition
   • Biometric Smart Card
   • Geometrical code
   • Others…

myBiometrix is a scaleable solution that can be hosted by us as a Managed Service or run In-House. Delivering irrefutable authentication and security and monitoring mechanisms, whilst maintaining a practical usability balance, myBiometrix conveys a holistic approach that is a world leader in irrefutable Authentication and Verification.

Collaboration and Reseller enquiries are welcomed for our range of proprietary Biometric solutions.

LEARN MORE ABOUT myBiometrix:

 www.myBiometrix.com

OR CONTACT US DIRECTLY AT:

busdev@myBiometrix.com

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Looking to target small and medium businesses, Avaya announced new enhancements to its IP Office suite. The company added on a new software and modular hardware package, SIP trunking for reduced calling, and remote diagnostic tools. IP Office 500 with the Standard Edition software runs $700 and serves up to 32 users. An upgrade to the Professional Edition software is priced at $1000, and supports up to 270 users. Avaya also introduced the IP Office 500 communications server which features a more compact design, and supports telephony, voice messaging, and a customer service suite. 

Dirigo Telecommunications, a provider of customer interaction management solutions for small and medium-sized businesses, took home the 'Best in Show' award at the recent INTERNET TELEPHONY Conference. Dirigo iQueue combines PBX and ACD for small and medium-sized businesses. The company previewed their Intelligent Assistant, a part of their iQueue offering which offers a call routing system featuring a rules-based engine to ensure all calls are handled properly.

Polycom is targeting branch offices with their new videoconferencing system. The Polycom v700 solution is an all-in-one videoconferencing solution, including business-quality videoconferencing, an integrated 17-inch display that can double as a PC monitor, integrated camera, microphones and speakers and content-sharing capabilities. Polycom already offers another low-end videoconferencing solution, the Polycom V500, which works with standard televisions and is designed as a low-cost conference room solution. The Polycom V700 costs $2,999.

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Postilion, a provider of integrated solutions for self-service banking and payment processing, announced the general availability of an integrated voice banking system. The firm says that Postilion for Banks and Credit Unions provides: an in-depth reporting system that provides tracking of member usage and administrative changes; the ability to maintain rates on products and update branch and location information easily; and credit union-branded marketing messages.

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

Feb. 27-28, Miami Beach - Winter Biometric Summit

June 7-8, Las Vegas - Credit Union InfoSecurity Conference

October 10-13, Albuquerque - Firefighters' National Credit Union Summit

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