Credit Union tech-talk News
May 21 - May 25, 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
General News
* Harland Financial Solutions to Release New Core Processing Solution
* TriGeo Wins Coveted Position in Gartner's Magic Quadrant
* Symantec Signs Kitsap Credit Union
* FSCC Off to Fast Start in 2007
* Larry Tankeloff Joins CorePROFIT Solutions
Harland Financial Solutions, a wholly owned subsidiary of John H. Harland Company, announced that it is launching a new system for credit unions that will build off the technology framework of its Phoenix System. The new system will not replace the popular UltraData system, but will be targeted at credit unions that would like to offer more commercial banking products.
TriGeo Network Security, a leading provider of security information and event management technology for mid-market organizations, announced that Gartner has positioned TriGeo in the leaders quadrant in the Magic Quadrant for Security Information and Event Management. Gartner positions vendors in the Security Information and Event Management Magic Quadrant based on the vendor's overall ability to execute and completeness of vision.
Symantec, a global leader in infrastructure software, announced that Bremerton, Wash.-based Kitsap Credit Union has installed Symantec’s Control Compliance Suite. Symantec Control Compliance Suite helps ensure coverage of external mandates through written policy creation, dissemination, acceptance tracking, and exception management.
Financial Service Centers Cooperative, Inc. (FSCC), the international credit union Shared Branching Network, announced a significant increase in participation through April 2007. The network has signed over 20 new contracts with credit unions representing over $1 billion in assets, nearly 35 branches and over 155,000 members.
Larry Tankeloff, former FISERV Credit Union Business Unit President, has joined CorePROFIT Solutions as Chief Operating Officer. Prior to this new appointment, Larry was President of FISERV/Galaxy Plus and SVP of FISERV/USERS.
Hardware News
Small to mid-size credit unions may be interested in Buffalo Technology's new TeraStation Pro II network-attached storage unit. The TertStation Pro II (TS-H3.0TGL/R5) comes in 1TB, 2TB and 3TB capacities, and features data transfer rates of up to 38 MB/sec. It runs around $2,499, and includes a Gigabit Ethernet port and Gigabit Jumbo Frame capability, and two USB 2.0 ports to allow for external USB hard drive connections. It supports five operational modes: RAID 0, 1, 5 and 10.
Meanwhile larger credit unions that want to keep an eye on future growth may want to look at NEC's clustered disk arrays that scale from gigabytes to a petabyte. The D-Series storage arrays scale from 219GB to 1.15PB capacity and from 2GB to 128GB of memory. The D-series systems come with four power supplies and allow administrators to set the systems to spin-down disk drives (they use both Serial ATA (SATA) and Serial SCSI (SAS) hard drives) not being used to conserve on power. The software also offers multiple data replication techniques, including snapshots, full internal and external synchronous replication for business continuity and synchronous remote data replication for disaster recovery.
Hardware Section Sponsored by MagTek |
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.
Software Updates
A company by the name of Famatech recently announced Radmin 3.0, a Windows-based remote control solution. Radmin lets administrators and remote users monitor and work at several computers through a single GUI. Unlike other remote control software, Radmin claims that with their Direct Screen Transfer technology users experience no lag time in working remotely. The latest version of Radmin supports Windows Vista and uses new authentication methods for increased security. The viewer on the desktop is free; the server software is $49 for a single-user license.
Storage vendor Network Appliance has added data de-duplication technology to several of its storage systems, delivering a new way for IT to cut rapidly increasing storage costs. NetApp said it is now making its single-instance storage de-duplication, A-SIS (Advanced Single Instance Storage,) available on its NetApp NearStore and FAS storage systems. Data de-duplication helps IT by reducing unique data volumes, thereby reducing the amount of storage to buy and manage. This leads to a reduction in not only hardware and software expenses, but also power and cooling costs as well. In some tests, users achieved up to a 20-to-1 space savings over traditional models.
Software Section Sponsored by Raddon Financial Group (RFG) |
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The right business decision requires reliable business intelligence. With RFG's evolutionary profitability model, nextPROFIT, iNTEGRATOR offers unparalleled management reporting capabilities based on consistent financials mapped from the credit union's general ledger. iNTEGRATOR's advanced functionality and industry-leading member intelligence is complemented by a dedicated team of Strategic Advisors who evaluate each client's marketing challenges and opportunities to deliver a custom Earnings Improvement Plan every six months. If you're not seeing the return on investment you expected from your current MCIF, take advantage of the power and versatility of iNTEGRATOR and the opportunities identified by your Strategic Advisor. For more information, give us a call at 800.827.3500 or register for a live demo at www.raddon.com/demo. Please use promo code: TT55. |
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-- Kari Hullinger, Marketing Director |
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ATMs/Kiosks
North Carolina-based self-service hardware and software developer Source Technologies was recognized for the Best Financial Services Deployment for the third consecutive year at the recent KioskCom Self Service Expo. The judges were impressed by the self-service banking kiosk Source calls Concourse designed for Quorum Federal Credit Union. At Purchase, NY-based Quorum, 90 percent of the transactions handled by a teller in a traditional branch have been moved to the self-service channel. Using more than 25 Concourse financial kiosks, Quorum has expanded its network with 23 percent fewer staff than would have normally been required.
Start-up communications company VideoKall is launching a video payphone-based Electronic Fund Transfer service called VideoKall. The firm says that they will uniquely provide migrant workers in the US with a state-of-the-art EFT service which allows both sender and recipient to see each other on a video payphone before and during the money transfer. The service will include video payphones in shopping malls in several cities in the US, Mexico, The Philippines and India.
ATM and debit cards are going see-through with 3M's latest technology for transparent inlay for use in Visa-branded payment cards. Vikuiti Clear Card Filter is a film that is transparent in the visible spectrum but blocks IR light. It allows the creation of clear credit cards with magstripes that are compatible with most existing ATMs, POS scanners and other LED-based devices worldwide. 3M says that typography, solids, patterns illustrations all reproduce well on the clear plastic.
Biometric Digest Highlights - WWW.BIODIGEST.COM
According to Frost & Sullivan research, “transactional authentication” is expected to become the largest market for voice verification in the long term. Learn more about the current trends in voice verification and transactional authentication in the June issue of Credit Union tech-talk - subscribe today.
Wireless World
According to a new report from Celent, mobile banking will grow significantly faster than online banking, with 35% of online banking households using mobile banking by 2010. The research firm says that 50% of the 18-25 year old “Y” generation indicate that mobile financial services will play a factor in their decisions of which financial institution they choose, with a significant percentage of this demographic living in cell-phone only households in the next 5 years. They predict that the mobile banking end game will not be about checking balances and paying bills, but will be about creating a mobile wallet.
Meanwhile another research firm, SYNERGISTICS, believes that there is a big future in contactless micro-payments. According to industry reports, $1.3 trillion in cash transactions are made each year for micro-payments (items that cost less than $5). Genie M. Driskill, COO of SYNERGISTICS, stated, “the infra-structure for contactless payments is taking shape. There are currently 46,000 merchant locations accepting contactless payments and more than 18 million contactless cards in the hands of consumers." Results from a recent SYNERGISTICS survey indicate that contactless cards should be able to convert cash payments for coffee, fast food, transit fares, or convenience store purchases into credit or debit card purchases.
Verizon Wireless has chosen mFoundry for their banking and financial services solution. The mFoundry Spotlight Financial Platform enables members to check account balances, search for transactions, transfer funds, receive and pay their bills, and find ATMs and branches. Plus, financial institutions can use the Spotlight Development Platform to create their own customized applications that can be accessed from within the application.
Security Section
Google is warning Web users of the increasing threat posed by malicious software that can be dropped onto a computer as a Web surfer visits a particular site. The search giant carried out in-depth research on 4.5 million websites and found that about one in 10 Web pages could successfully "drive-by download" a Trojan horse onto a visitor's computer. Such malicious software potentially enables hackers to access sensitive data stored on the computer or its network, or to install rogue applications. To place malicious software on websites, criminals are manipulating Web server security, user-posted content, advertising and third-party widgets.
In a related story, 66% of the new Trojans that emerged in the first quarter of 2007 were designed for financial gain, according security vendor PandaLabs. The new Trojans detected by PandaLabs in the first quarter belonged to almost 700 different families and represented 74% of the new malware detected during the period, the report says. The most frequently detected Trojan variety was the downloader family, which made up 42% of the total. PandaLabs notes that hackers often don't use the information directly, they resell it to third parties which makes it very difficult to associate the creator of the Trojan with the crimes committed.
Security Section Sponsored by MAGENSATM |
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.
Leaders Roundtable
SECURITY:
Finding a Balance between Security and Convenience
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Arcot - http://www.arcot.com
Read R. 'Doc' Vaidhyanathan's comments: http://www.cunews.com/roundtable/Arcot.pdf |
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Code Green Networks - http://www.codegreennetworks.com
Read Chip Hay's comments: |
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Comodo -
http://www.comodogroup.com Read Andrew J. Pynes' comments: http://www.cunews.com/roundtable/Comodo.pdf |
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Corillian -
http://www.corillian.com Read Greg Hughes' comments: http://www.cunews.com/roundtable/Corillian.pdf |
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Digital Resolve - http://www.digital-resolve.net Read Dennis Maicon's comments: http://www.cunews.com/roundtable/DigitalResolve.pdf |
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e-DMZ Security -
http://www.e-dmzsecurity.com Read Kris Zupan's comments: |
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GalaxyPlus - http://www.galaxyplus.com Read Vince Francone's comments: http://www.cunews.com/roundtable/GalaxyPlus.pdf |
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Intrusion - http://www.intrusion.com Read Jay Barbour's comments: http://www.cunews.com/roundtable/Intrusion.pdf |
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MagTek - http://www.magtek.com Read Kiran Gandhi's comments: http://www.cunews.com/roundtable/MagTek.pdf |
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Network Armor - http://www.networkarmor.com Read Stephen Goldsby's comments: http://www.cunews.com/roundtable/NetworkArmor.pdf |
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Perimeter Internetworking -
http://www.perimeterusa.com Read Kevin Prince's comments: |
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RSA
Security - http://www.rsasecurity.com Read Marc Gaffan's comments: http://www.cunews.com/roundtable/RSA.pdf |
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Symitar - http://www.symitar.com Read Larry Widel's comments: http://www.cunews.com/roundtable/Symitar.pdf |
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TriGeo Network Security - http://www.trigeo.com Read Michelle Dickman's comments: http://www.cunews.com/roundtable/TriGeo.pdf |
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WhiteHat Security - http://www.whitehatsec.com Read Jeremiah Grossman's comments: http://www.cunews.com/roundtable/WhiteHat.pdf |
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WinMagic - http://www.winmagic.com Read Joseph Belsanti's comments: http://www.cunews.com/roundtable/WinMagic.pdf |
Technology and Marketing
PAYjr, an online service that provides financial tools to help young people understand and appreciate the concept of financial responsibility, has joined together with the Serverside Group to offer teens a chance to design their own PAYjr Visa Buxx Card, a prepaid card for teenagers. PAYjr’s credit union partners can provide their teen members with the ability to upload, enlarge, rotate, move and flip their chosen photos inside the PAYjr Visa Buxx Card template, so that they can completely customize their cards.
Online Banking/E-Commerce/Website Design
Growth in Internet banking is outpacing all other retail delivery channels and is rising at an annual rate of 27%, according to a study by TowerGroup. TowerGroup predicts the growth in overall US delivery channel transactions will increase at an average rate of 10% between 2006 to 2010 across all channels - branch, ATM, telephone and Internet.
But TowerGroup says the Internet represents the future of financial services delivery as ATMs and branches are now showing signs of flattening transaction volume.
A two year old Florida-based company is turning driver's licenses into virtual debit cards. Learn how they do it and how it could affect credit unions in the June issue of Credit Union
tech-talk - subscribe now.
TopLine Federal Credit Union, which is headquartered in Maple Grove, Minnesota, is driving online loan application completions by using online chat. Dubbed WebClose, the $249 million credit union has partnered with LSI to offer the service at the completion of online loan applications. LSI claims that their tests show that WebClose increases funded loans by 22%.
Online Banking Section Sponsored by MAGENSATM |
Revolutionary Convergence of Security Technology for Secure Internet Banking!
MagneSafeTM 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
MagneSafeTM, 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.
Internet Access
A company called Converged Access has unveiled managed branch-office hardware designed to reduce the number of devices deployed in remote locations and simplify their installation. Branch Services Gateway (BSG) combines a branch-office router, firewall and VPN gateway with VoIP support and traffic management. Designed for offices with 50 employees or fewer, BSG includes an eight-port 10/100 managed Ethernet switch as well as analog phone ports that can be used to make calls if the IP network fails. The BSG base model costs $2,400.
Many credit unions would like to support remote workers or at least provide for remote access during a disaster, but they are quite nervous about security issues surrounding remote access. One company believes that they have a solution that delivers “a secure, isolated sandbox environment on a remote user’s desktop.” Find out more in the June issue of Credit Union
tech-talk - subscribe today.
Sprint Nextel is committed to decommissioning its legacy frame relay and ATM (Asynchronous Transfer Mode) networks as soon as possible. While the carrier says it will not abandon any customer still left on the legacy networks come 2009, it is working closely with customers to get them to migrate to one if its Multiprotocol Label Switching (MLPS) Internet Protocol services. Sprint is offering two prime migration paths to IP. The first, called SprintLink, is a Layer 2 offering based on Layer 2 Tunneling Protocol (L2TP) that allows customers to keep their frame relay gear and connect to Sprint’s MPLS network via a Layer 2 connection. The second is Sprint’s MPLS VPN service that allows customers to migrate to the carrier’s fully meshed IP MPLS network.
Call Centers
Call center workers, as well as other employees that sit for long periods of time, can greatly benefit from ergonomic furniture and desk layouts. Interior Concepts is one company that offers a number of accessories and call center furniture set-ups to fit the need of today's workstations. These items include: adjustable footrests that can be utilized to relieve back stress and increase circulation; adjustable keyboard trays that can help prevent repetitive stress disorders; gel filled wrist wrests and mouse pads; adjustable flat screen monitor arms; and paper management accessories.
Conferences
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk at the following conferences in 2007:
June 7-8, Las Vegas - Credit Union InfoSecurity Conference
August 9-10, Pasadena - Financial Technology Solutions International Technology Forum
October 10-13, Albuquerque - Firefighters' National Credit Union Summit
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