Credit Union tech-talk News

September 17 - September 21, 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

* DESCO Federal CU Selects COCC for Technology Partnership
* Diablo Valley FCU Partners with Digital Dialogue
* NuUnion CU Chooses Proofpoint’s Messaging Security
* Baxter CU Implements MEGA Business Process Software

COCC, a leading provider of next generation technology services for credit unions, announced that Desco Federal Credit Union of Portsmouth, Ohio has selected the company for a long term technology partnership. Desco will replace its in-house system with COCC’s outsourced technology solutions.

Diablo Valley Federal Credit Union has joined the Financial Service Centers Cooperative, Inc. (FSCC) shared branch network and has chosen the 24/7 Custom Call Center Outlet, managed by Digital Dialogue. The Concord, California-based credit union will use the system to better serve their members through all delivery channels, including Web, branch and call center. 

Lansing, MI-based NuUnion Credit Union has implemented Proofpoint’s Messaging Security gateway to protect its communications systems from malware. Additionally, the Proofpoint system automatically scans for personal financial information, such as Social Security numbers and credit card information.

MEGA International, a global leader in business process analysis and enterprise architecture, announced that Baxter Credit Union has selected the MEGA Modeling Suite for enterprise architecture initiatives. With over a billion dollars in total assets, Baxter Credit Union is one of the nation's top 100 credit unions and the fourth largest in Illinois. 

Hardware News

Lenovo is claiming that its latest desktop is the smallest, quietest and most energy efficient. The company launched its ThinkCentre A61e, which Lenovo describes as an “ultra small form factor desktop” starting at $399. Lenovo also notes that the A61e uses 90 percent reusable material and 90 percent recyclable packaging. Meanwhile, Wyse Technology released a laptop thin client that has no disk drive or fan, a relatively long battery life, an Ethernet port and a full-size keyboard. It weighs less than four pounds and includes 512MB of flash memory, which holds the operating system and any applications that may be added, and an equal amount of RAM. This seems like a small amount of memory, but Wyse officials insist that it's more than enough to do many jobs.

Dell is specifically targeting the small and medium business market with a new storage consolidation system, the PowerVault MD3000i. It's a storage area network (SAN) array based on the iSCSI standard, which works on a company's existing Ethernet network. The PowerVault MD3000i, which supports up to 16 hosts, is Dell's fourth storage product introduced this year. A fully configured system will cost about $13,000.

In a strengthening of the Microsoft-Sun interoperability agreement, Sun will start selling its 64-bit servers with the Windows Server OS preinstalled on its Sun Fire servers. Sun launched its Sun Fire servers two years ago as its first foray into the fast-growing PC server market. The servers run less-expensive but powerful AMD Opteron processors and start at prices of less than $1,000. The Sun Fire servers already support Windows Server, along with Red Hat Linux, Novell's Suse Enterprise Linux, VMware's ESX virtualization system, and Sun's own Solaris operating system. 

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

An Indian firm by the name of Intellvisions Software has launched the i-watch surveillance system for ATM security. They are targeting ATM deployers who are looking to move away from standard IP camera technology in ATM terminals and shift towards more intelligent data capture and storage. The i-watch solution records in much higher resolution, includes built-in data compression, and is designed to record when the ATM is in use. 

Diebold has been busy showcasing its new Opteva 324, a bulk note acceptor and recycling module unit around the world. The unit is designed to work alongside the Opteva 510 and 520 lobby cash dispensers. The Opteva 324 can also be configured or upgraded to include the additional functions of check deposit or statement printing.

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The new cash cards from Japan's Mitsubishi Tokyo Financial Group look pretty much like any other ATM card, but there's one key difference: they have images of their owner's blood vessels stored inside them. At the ATM, the account owners take out the cards and place their hands over a Fujitsu scanner. The palm-size machine compares the scan with the pattern stored inside the card's circuitry, and if the match is made, the money is dispensed.

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Sybase 365 has released a new research report titled "Mobile Opportunities for the Financial Sector" concluding that "U.S. consumers are obsessed with managing their personal finances. A majority of U.S. consumers check their bank balances very frequently; 61 percent admit to checking their balance at least every few days, including the core 29 percent who require daily updates. The report says that "financial institutions will soon have to meet consumer demands and market mobile offerings to remain competitive." 

Some analysts say that there is little doubt that one day it will be common for shoppers to pay at the cash register with a cell phone rather than with cash, check or by swiping a credit or debit card. One Silicon Valley company claims that consumers can pay for items by keying in their cell phone number and PIN at the register today with their system, without having to buy a cell phone equipped with a special chip. We will tell you how their system works in the October issue of Credit Union tech-talk - subscribe now.

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According to the 12th annual Computer Security Institute report, cybercrime cost the average company more than $350,000 in the past 12 months – more than double what it cost them a year ago. The CSI study, which for the past 11 years has been conducted in conjunction with the FBI, is one of the oldest continuous studies of security industry trends. Financial fraud and insider attacks are the new culprits, displacing malware attacks as the top cost. The study also showed that almost half of respondents are now spending between 1 and 5 percent of their IT budgets on security. 

IronPort Systems, a Cisco business unit, announced new data-loss prevention and encryption capabilities for its e-mail security appliances. The new data-loss prevention features include content-scanning capabilities with keyword and smart-identifier matching, as well as regulatory and customized dictionaries. IronPort has also added its PXE encryption technology directly on to its applications, so that inbound and outbound e-mail can be encrypted and decrypted without the need of additional hardware.

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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A new survey released by Visa USA shows that only 20 percent of Americans know that it is legal for employers to refuse to hire job applicants with low credit scores. Fully 52 percent of Americans mistakenly believe it is illegal for prospective employers to use credit scores as a hiring criteria and another 28 percent of survey respondents are unsure. "Credit scores have become the de facto 'GPA' for all aspects of modern life because they can affect everything from getting a job to being able to buy a house," said Jason Alderman, director of financial education for Visa USA. "A bad credit score can send an otherwise well qualified job applicant straight to the unemployment line." 

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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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Forrester Research and comScore have released a study covering the reasons why consumers abandon applications for online financial products, including checking accounts, savings accounts, credit cards, auto insurance, brokerage accounts, mortgage loans, home equity loans, and personal loans. Of those who initiated an online financial application but did not submit it, 49 percent said that they had no intention of completing the application. The top reasons cited by those who did not intend to complete the application included:

-- Wanted more product information (23 percent)
-- Not ready to apply (19 percent)
-- Wanted to see if they qualified for the product (14 percent)

Those who started an application with the intention of completing it, but who ended up abandoning the application cited the following reasons for not completing the application:

-- Changed their mind about applying online (12 percent)
-- Had privacy/security concerns (11 percent)
-- Wanted to speak to a sales person regarding the product (11 percent)

Yodlee announced the general availability of their new, end-to-end online payment solution called Yodlee BillPay PayItAll. The California-based company is calling it "a complete, next generation online bill pay offering that will enable financial institutions to dramatically lower bill pay solution, processing and related expenses, generate new revenue and significantly improve the customer experience."

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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Verizon Business has beefed up its package of managed network services for security and content management that it offers to branch offices. The new services require Cisco's popular Integrated Services Routers to be installed at each location. Customers can choose from these five services for branch offices: content filtering, zone-based firewall control, intrusion prevention, local caching of Web content, and Ethernet LAN capability. A single ISR could replace a LAN switch and a router. Customers can buy, lease or rent an ISR on top of the core Verizon Business managed service.

A typical corporate conference call involves participants invited via e-mail to "call in" using the number given by the meeting organizer, and often the meeting ID and passcode. Unfortunately, conference calls haven't changed much in the past couple of decades, and many people consider them to be unproductive. However, now there is a free service that some observers feel offers a long list of features that make it an ideal replacement for the old corporate conference call. Learn how it works in the October issue of Credit Union tech-talk - subscribe now.

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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In an attempt to reduce call center agent turnover and its accompanying high costs, some centers are turning to online assessment websites. The Analyst-Link assessment automatically provides a job suitability ranking and administers a second test that measures work-ethic and reliability. There is also a training and orientation guide that comes with the test for orientation once the candidate is hired. The Analyst-Link Commentary assessment and interview questions can be found at http://www.hrdt.com

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

September 20, Las Vegas - Security Conference California/Nevada Credit Union Leagues

October 4-5, Destin - CUES Fall 2007 Council Meeting

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

November 8-10, San Diego - CU InfoTECH

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

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