Credit Union tech-talk News

August 27 - August 31, 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

* Fiserv Adds 76 Credit Unions to Wisdom Financial Management Suite 
* Three Credit Unions Select Symitar 
* Golden Plains Credit Union Selects TCI’s Decision Lender Solution
* CUDL Announces Interface with Summit 

Fiserv, a leading provider of technology solutions, announced that since January it has added 76 new credit unions to its Wisdom Financial Management Suite client base. Wisdom, developed and operated by Fiserv’s IntegraSys business unit, is integrated and offered in collaboration with all credit union core processing units within Fiserv. The Wisdom suite features a range of a la carte solutions, including complete accounting capabilities with functionality to support general ledger, fixed assets, pre-paid expenses, and accounts payable, plus investment portfolio management, asset and liability management (ALM), and the new 5300 Call Report Assistant.

Symitar, a subsidiary of Jack Henry & Associates that provides credit unions with software systems and related services, announced that three credit unions selected Symitar as their technology partner and the Episys system as their core processing platform. These additions to Symitar’s client roster include First Service Credit Union, a $205 million Texas-based institution with approximately 35,000 members; Cy-Fair Federal Credit Union, a $120 million Texas-based institution with approximately 17,000 members; and Afena Federal Credit Union, a $41 million Indiana-based institution with approximately 6,600 members. 

Teledata Communications, Inc (TCI), a leading provider of web-based Indirect Loan Origination Solutions, announced that Garden City, Kansas-based Golden Plains Credit Union (GPCU) has chosen industry leading Decision Lender to enhance its competitive auto indirect lending program. One of the reasons that GPCU chose DecisionLender was because its larger car dealers require connectivity to Dealer Track and Route One and they found it to also better serve their smaller independent dealers that still rely on faxing.

Rancho Cucamonga, CA-based CUDL says its new CUDL PathWays Connector interface has completed certification by Summit Information Systems. Credit unions that utilize the Summit Information Systems core processing platform can deploy a seamless interface with the CUDL indirect lending and point-of-sale system. The integration offers real-time booking, disbursement and follow-on servicing between the Summit core and CUDL’s Web-based workflow management systems.

Hardware News

Panini, a check capture solution vendor, is launching a Small Business Initiative to introduce the advantages and efficiencies of remote deposit capture (RDC). The firm says that small businesses account for 99.6% of all US business organizations and represent approximately 18 billion annual check transactions eligible for digital capture/deposit. In support of RDC, Panini offers their My Vision X SD (single document) check scanner that they say is priced specifically to meet small business requirements.

Document capture solutions generally fall within two categories: centralized and decentralized. Centralized capture is where paper documents are sent to one or more dedicated high speed scanning locations for capture and processing. For other diverse business processes, it is more appropriate to use decentralized capture where the document owner scans the document instead of a centralized production scanning expert. We will cover some decentralized solutions that are typically used by regular business users in the September 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

Star electronic funds transfer network announced a deal with the Allpoint ATM network whereby financial institution users of Star’s Starsf service will be able to offer their debit card holders surcharge-free access to Allpoint’s 32,000 ATMs located mostly in stores. Star has 5,400 financial institution members. An undisclosed number are enrolled in Starsf, in which participants agree not to surcharge each other’s members/customers when they use another network member’s ATM. Under the terms of the deal, participating Star institutions will still have their revenue stream from their own ATMs while offering their cardholders surcharge-free access to Allpoint machines.

Using image-enabled NCR PS90es, IH Mississippi Valley Credit Union will offer their members and non-members the ability to make deposits of cash or checks without using an envelope. One machine is live, and another will soon come online at their Davenport branch. 

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Scientists at Stanford University are working on an alternative password-based system with the potential to shut out the threat from shoulder surfers and key-loggers. With EyePassword, a user enters their PIN by selecting from an on-screen keyboard using only the orientation of their pupils. The system uses ‘gaze-based’ typing, a technique originally developed for disabled computer users as an alternative to normal keyboard and mouse input. 

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Actimize, a provider of transactional risk management software, announced that it has expanded its cross channel Remote Banking fraud prevention solution with new Mobile Banking capabilities. The new Actimize Mobile Banking modules are designed to analyze data arriving from mobile channels and monitor the behavior of members using them to uncover patterns and alert investigators of mobile banking fraud in real or near real-time. 

Highway Safety & Technology Corp. announced the release of a cell phone detection system. The System has the ability to protect an organization's premises from the misuse of cell phones. It includes a central control box, designed to monitor up to 4 independent zones, and specially designed ceiling mounted antenna for use in small or large areas to ensure accurate detection. While the system detects cell phone use, it cannot block it because that against FCC regulations. 

San Jose-based Valley Credit Union has implemented ‘Valley Mobile’ mobile banking service. Members can view their accounts, transfer funds between accounts, track assets through graphic reports, and receive alerts and important updates through a secure e-mail feature. Online bill pay will be available in the second phase.

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3VR Security has introduced a searchable surveillance system that they say speeds up the process of criminal identification and helps stop a crime as it is occurring. The new system integrates the CrimeDex Suspect Database, developed by Amcrin Corp., to help security personnel identify criminals and expedite investigations. The system employs a combination of shared video, search and face recognition technologies to automatically detect fraudsters. CrimeDex is currently used by 295 financial institutions, 172 law enforcement agencies, 24 federal agencies, five retailers and seven private investigation organizations. 

Enterasys Networks has launched a suite of products to help organizations secure their voice over IP deployments. The firm says that their platform allows VoIP deployers to spot and automatically respond to security threats against their IP telephony infrastructure, enforce network access control policies, and comply with regulatory demands for monitoring data security. Learn more about how it works in the September 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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Online Banking: 

Embraced by Members - The Next Steps

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

GalaxyPlus - http://www.galaxyplus.com   Read Jay Slavin'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

Microsoft - http://www.microsoft.com Read Greg Haislip's comments: http://www.cunews.com/roundtable/Microsoft.pdf

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

TowerGroup - http://www.towergroup.com   Read George Tubin's comments:   http://www.cunews.com/roundtable/TowerGroup.pdf

uMonitor - http://www.umonitor.com   Read Dinesh Sheth's comments:   http://www.cunews.com/roundtable/uMonitor.pdf

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

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CRM vendor Sage Software has released a new ACT! product family. ACT! 2008 enhancements include customizable dashboards, editable list views, multiple contact assignments per opportunity, and expanded workgroup security, among others. The firm claims that ACT! is the number-one selling contact and customer management product with over 2.7 million registered users and over 41,000 additional corporate customers.

Montbello, CA-based Camino Federal Credit Union has launched a new checking account for young people dubbed Right Start. Available to full-time students at age 16, the account comes with free online/phone banking, free bill pay, and a line of credit up to $100 for overdraft protection. At age 17, those same members are pre-approved for a Visa credit card with a credit limit of at least $500. 

Grow your membership and your revenue with a unique youth program, plus get $1 for each card sign-up!

Unique tools for member growth, a way to differentiate yourself in the market and a great revenue generator. PAYjr is the youth program that will help you grow your CU with younger members. It is not just marketing material to send out to members, but the tools to help them learn money management.

We offer a turn-key branding solution that allows you to offer financial education, an online chore and allowance program and a teen prepaid card that teens can design themselves! These programs show your involvement in your community and will help parents show their kids how to earn and save money the smart way. The online chore and allowance program schedules chores and tracks their completion, making chores interactive and fun for the whole family. The prepaid Visa Buxx card is a great tool for teens to learn how to budget and it is a great revenue generator for you. Get $1 for each card sign-up!

Check out our site where you can design your own prepaid card: www.PAYjrVisaBuxx.com

Contact Information & For Partnership Opportunities:


Jessica Stroud
Jessica@payjr.com
(214) 618-7037

www.PAYjrCorp.com 

The PAYjr Visa Buxx® Card is issued by BankFirst, Sioux Falls, SD, pursuant to a license from Visa U.S.A. Inc. BankFirst; Member FDIC.

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Private firms are now targeting small businesses directly with RDC (remote deposit capture). For example, RemitPro and Vanco Services announced an agreement under which mutual customers will use RemitPro's eRemitPro software to capture check images and data, which will then be sent to Vanco for processing and settlement. Once transactions are processed, Vanco will forward the money via an ACH transaction to the client's depository financial institution account. Businesses can utilize RemitPro Remote Deposit Capture solution regardless of whether their credit union has an existing relationship with RemitPro.

Online Resources Corporation and Fair Isaac announced a partnership that enables users of Fair Isaac’s ScoreNet network to take advantage of Online Resources’ web-based collections solution. The ScoreNet network provides secure and managed access between 1300 creditors and third-party business partners. Online Resources’ Virtual Collection Agent is a Web service that helps reduce losses from delinquent consumer accounts.

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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If your credit union needs to reach a group of employees or members quickly, easily and with minimal cost, voice broadcasting may be the answer. Voice broadcasting can be set up to communicate a pre-recorded message only to live recipients (people who actually answer the phone) or to live recipients and answering machines/voicemail systems. CallFire is one company that offers a hosted voice broadcast system for both emergencies and marketing purposes.

In a related story, your credit union can now easily reach anyone with a cell phone that accepts text messages with a new free service called Pinger. Pinger is a voice-relay service that promises the convenience of text messaging, but with your voice instead. You call the Pinger phone number, leave a message, and Pinger will send your recipient a text message with a Pinger phone number. They then call that number, and receive your voice message. You can setup groups and then send a single voice message to that group of people without having to dial multiple numbers. 

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Voxify has traditionally offered its speech applications, called Automated Agents, in a hosted deployment model. The company’s deployment options, offered as a managed service, have recently been expanded to include On Premise and On Premise Overflow. The On Premise deployment model is based on a speech infrastructure that resides with the contact center while the Automated Agents reside in the Voxify hosting network. This deployment model gives contact centers the ability to manage their speech infrastructure without having to invest in the speech expertise required to manage, tune, and support sophisticated speech applications. The On Premise Overflow option has additional benefits of capacity, redundancy, and business continuity as the contact center’s speech infrastructure is replicated in the Voxify hosting network. Should contact centers experience unplanned call spikes or interruptions in data center operations, calls are automatically handled by the Voxify hosting network.

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

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

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

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