Credit Union tech-talk News
May 28 - June 1, 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
* Georgia Heritage FCU Selects Open Solutions COWWW Digital Documents Software
* HSA Clearing Expands HSA Offerings for Credit Unions
* Dynamic Card Solutions Integrates with Summit
* Netreo Simplifies Network Traffic Monitoring With OmniCenter Flow
Georgia Heritage Federal Credit Union announced it has selected Open Solutions Inc.’s COWWW Digital Documents e-Statement solution to streamline its document-intensive processes and enhance online member services. COWWW Digital Documents, a business unit of Open Solutions, provides information archive and delivery systems for credit unions.
HSA Clearing, a provider of turnkey solutions for credit unions nationwide to initiate and administrate HSA accounts, has partnered with brokersXpress, an online trading and reporting provider for independent investment professionals, to launch HSAs Financial. This turnkey HSA brokerage solution is designed to help credit unions expand their HSA offerings to include stock, mutual funds and options brokerage capabilities.
Dynamic Card Solutions (DCS), developer of CardWizard, a leading instant issue and PIN selection software application for credit unions, announced that its flagship product, CardWizard, has been recognized as an official registered PathWays Connector component for the Summit Information Systems Spectrum core processing application. With this registration, a certified CardWizard PathWays Connector software component is now available for Summit credit union customers, allowing them to use DCS' instant issuance technology with the Spectrum core application.
Netreo, a provider of IT management solutions for business, announced OmniCenter Flow, a simplified system for NetFlow traffic monitoring. OmniCenter Flow allows IT managers to gain complete visibility into network traffic patterns to improve and tune infrastructure architecture, better allocate network resources or costs, and monitor traffic volumes. OmniCenter Flow is available as an appliance or software-as-a-service (SaaS) package.
Hardware News
For the past four years, Staples has allowed consumers to drop off small devices for recycling such as cell phones, pagers and digital cameras for free, regardless of the brand or whether the device was bought at Staples. Now desktop and laptop computers and monitors of any make will also be accepted at Staples' customer service desks during store hours, but for a $10 fee for each large item. Staples, which stands to boost customer traffic from people turning in old devices, says the $10 fee for large items will defray recycling costs. Peripherals such as keyboards, mice and speakers will be accepted at no cost. TVs and floor-model copiers won't be accepted.
Passwords are your central means to access everything: e-mail, network, core system, VPN, etc. A number of companies have small hardware tokens that help users generate strong passwords and store them in one secure place. We will cover one system in the June issue of Credit Union
tech-talk - subscribe now.
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
Some estimates show office paper consumption increasing by 20% per year, and on average, each office worker using up to 50 sheets of paper a day. Unfortunately, quite a bit of this is wastage. Not only does this wastage have an environmental impact, but major costs can be attributed to both the purchasing and disposal of paper, not to mention the business inefficiencies associated with paper dependent processes. Paper recycling is an obvious and easy way to reduce waste in the workplace, as is duplex printing. Using an application like GreenPrint can also help in reducing unwanted output. With Greenprint's print preview, you can easily display all pages with wasteful pages highlighted in red. With a click you can: print only what you want, remove images or text, or create a PDF file.
Raxco Software announced PerfectDisk Rx Suite, a package that they say improves the overall health of your PCs. PerfectDisk Rx Suite provides PC defragmentation and optimization, a registry cleaner, a tool to reclaim disk space and remove duplicate files, a tool to protect your privacy, and a tweaking tool that increases the overall performance of your computer. Pricing for PerfectDisk Rx Suite starts at $29.99 for a single-user license.
Antivirus vendor Panda Software released a Web-based product that it claims will spot malware that normally goes undetected by traditional security programs. The company said it has developed a new methodology for detecting malware that's embedded in Malware Radar called Collective Intelligence. As an online, security-as-a-service feature, Collective Intelligence can detect ten times more virus files than traditional products, Panda claims. Panda said Malware Radar is designed to complement, not replace, existing client-side antivirus software. Malware Radar is available for free as one-time demo for installations of up to 100 workstations.
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 announced the availability of the newly enhanced Concourse Kiosk Project Planner 2.0. The new Web-based application allows users to design kiosks based on specific business-related criteria. Available for free on Source Technologies’ website, the Kiosk Project Planner 2.0 guides customers through a series of questions addressing their specific business needs. Based on their criteria, customers are provided with instant recommendations for their kiosk design and project requirements.
Raleigh, NC-based Local Government Federal Credit Union is using informational kiosks for both members and employees. Dubbed Compass, the kiosks allow members to check balances, apply for loans, pay bills and manage accounts, but they do not dispense cash. LGFCU’s staff can use the machines to learn more about such things as: holidays, sick leave, benefits and general HR information.
Biometric Digest Highlights - WWW.BIODIGEST.COM
For years, the magnetic stripe, combined with a PIN satisfied the basics of two-factor authentication (something you have, and something you know). But as criminals step up their efforts, many financial institutions around the world are turning to various biometrics technologies as a third factor of security. Learn more about these trends in the June issue of Credit Union tech-talk - subscribe today.
Wireless World
Some analysts believe that free mobile banking has to overcome one significant hurdle: the cost. While financial institutions may not charge for making transactions on a phone, cell carriers do. Many wireless carriers continue to charge cell customers by the kilobyte of data used. One carrier, AT&T, suggests that customers who plan to use mobile banking sign up for a data plan. AT&T’s lowest cost plan is $9.99 a month for 5 megabytes of data, plus $4.99 for 200 text messages a month, which of course is on top of their voice charges. Some observers think that lower charges and simpler fee structures from cellular carriers will help mobile banking go mainstream.
According to Javelin Strategy and Research, 49% of consumers perceive mobile banking as either unsafe or very unsafe. Javelin is strongly pushing for financial institutions and technology providers to address these concerns in their communication and education strategies. They offer more information in their recently released Mobile Banking Security Report.
Security Section
The FBI has developed a new program in Washington state to battle "note job" robberies. Note job robberies, which constitute the vast majority of robberies, involve simply passing a demand note to a teller. Dubbed “SafeCatch,” the program encourages branch workers to be more proactive in approaching people whom they suspect might be robbers and in reporting these suspicions directly to law enforcement. The "safe" part in SafeCatch is actually an acronym that covers appropriate staff actions:
- Scan the lobby regularly for suspicious persons and incidents;
- Alert a manager;
- Friendly, neutral confrontation should be used;
- Escape - if a suspicious person leaves after being asked for assistance, employees should still report their suspicions to local or federal law enforcement.
Many hackers follow a set pattern of steps when attacking your credit union. We will cover the seven steps in the trajectory of a typical attack in the June issue of Credit Union
tech-talk - subscribe now.
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
Visa USA has come out with the first installment of their “How America Spends” series. To develop this report, Visa commissioned a survey of Echo Boomers (born 1979 to 1989; ages 18 to 28) and Baby Boomers (born 1946 to 1964; 43 to 61 years old). The results offer insights on where, how and why a transfer of spending power may impact the economy. We will report on the highlights of their findings in the June issue of Credit Union tech-talk - subscribe now.
Online Banking/E-Commerce/Website Design
Fortent, a provider of information and technology to the risk and compliance market, has introduced a hosted version of its advanced anti-money laundering (AML) system for credit unions. Fortent Hosted AML is the first in a series of compliance applications, including KYC and fraud detection, that the company will offer on a hosted basis. Fortent Hosted AML is currently being implemented at the Justice Federal Credit Union.
Some industry analysts recommend that credit unions should direct their members to one of two websites to obtain a free copy of their credit report once per year:
- www.myfico.com
- www.annualcreditreport.com
However the well publicized site of www.freecreditreport.com is not recommended because it is actually not free.
Mortgage originations are down 20% this year for many reasons, but the end result is that many mortgage lenders are being forced to get more creative in their offerings. In January, more than 60% of all mortgage loans were made to prime customers with FICO scores of 650 or more. Those customers most often opt for the traditional 30-year, fixed-rate route, but there are other options out there for credit unions looking to offer something different - learn more in the June issue of Credit Union
tech-talk - subscribe now.
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
VoIP Supply, a retailer of Voice over IP hardware including IP phones, telephone adapters, media gateways, and small business IP PBX solutions, says they are now offering a suite of cost effective VoIP network assessment packages for organizations not having the in-house expertise to design and purchase their own IP PBX system. The assessment and evaluation packages range from $149 for a one to four user small office, to $1,999 for a large business with 101 to 250 users. The package comes with a 50% cost reimbursement if the solution components are purchased through VoIP Supply.
Telecom research firm AMI Partners has ranked 8x8 Inc., the provider of Packet8 VoIP phone services, as the leading hosted VoIP phone system choice by U.S.-based small and medium sized businesses. According to the “SMB Interest Perks Up in Hosted VoIP Report” compiled in April 2007, Packet8 Virtual Office had 6,000 customers, ahead of competitive offerings from XO Communications, Cbeyond and Covad. The Packet8 Virtual Office solution offers a combination of unlimited local and long distance calling in the United States and Canada plus advanced PBX features for $49.99 per month/extension.
Call Centers
It can be difficult for a call center to load test its systems. IQ Services is one of only a handful of firms that can help. IQ Services tests call centers by bombarding them with hundreds of calls and Internet browser sessions to see if they can handle it. Their StressTest service for phone systems simulates peaks and heavy call volume, the WebStress service does the same for Web-based contact center services and both are offered as continuing monitor services. All services give you recorded calls or HTML files to show you what's happening when members call in, so you can isolate problems before your actual members encounter them.
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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