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October 31, 2011 - November 4, 2011
* Chippewa Eagle FCU Uses CU*Answers Starting A Credit Union Program Ater only 7 months since it's opening, the Chippewa Eagle Federal Credit Union, located in Mt. Pleasant, Michigan announced it had already reached the $2 million mark in assets. The credit union partnered with CU*Answers in providing data processing services, and was a direct participant in their Starting A Credit Union program which provides any new start-up credit union nearly all core processing services free - for an initial 2-year processing period. Citrix has unveiled a prototype sub-$100 system-on-a-chip with a so-called "zero client" that is about the size of a deck of cards and contains ports to connect to typical desktop peripherals, such as a monitor, a keyboard and a mouse. Citrix is working with NComputing as well as Texas Instruments, Wyse, LG and a variety of monitor makers to create low-cost thin clients based on the new technology. ~~~
SecureSheet Technologies says that their SecureSheet application can turn existing single-user spreadsheets into secure, multi-user Web-based business applications without depending on IT resources to do so. SecureSheet isn't a spreadsheet application per se, although it mimics Microsoft Excel. The solution is actually a database that uses views to present the applicable data in rows and columns like Excel would. Data can be imported into and extracted from SecureSheet quite easily. There are only two spreadsheet functions that aren't supported by this application: pivot tables and macros. In a typical configuration, the spreadsheet data resides in the cloud. However, customers can license the SecureSheet software and put it in their own data center if higher levels of security are needed.
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Red Segura and GRGHK, a subsidiary of GRG Banking, have unveiled a multi-vendor solution aimed at helping financial institutions eliminate the use of magnetic-stripe cards. Red Segura's kit converts ATMs into NFC/RFID/QR ready ATMs while maintaining support for legacy EMV and magnetic cards. Transactions can be initiated by cards, stickers, keyfobs and cell phones to an authorized RFID reader containing a Secure Access Module (SAM). The company says that their solution uses cryptographic technologies such as key diversification, key sectorization, unique key per session, unique key per transaction, unique card per transaction and short-life cards. GRG Banking states that their ATMs will incorporate this technology as a standard feature. ~~~
Here is a chance to learn about real life credit union success stories from various technology vendors through the words of their clients. This week's vendor is:
and their client is: Sharonview Federal Credit Union Credit Unions - if you have a vendor that you are happy with then please let us know! Vendors - if you have a credit union that is happy with your solutions then please let us know and we will give you a $100 discount on your Case Study! ~~~ Tagattitude's TagPay uses the sound-based NFC 2.0 system to securely communicate payment data without requiring an NFC chip. The company claims that thier system also produces dynamic data that is unique to each transaction, making reuse impossible in the event of theft or eavesdropping. The firm explains that the audio signal is actually a one-time password coded into inaudible frequencies of sound. While NFC 2.0 certainly addresses the problem on the consumer end by permitting many more phones to employ the app, critics contend that it may be difficult to obtain retailer acceptance. ~~~ HighCloud Security unveiled VM-Centric Security, a solution to encrypt and protect virtual machine (VM) images and the data they contain throughout their lifecycle. The company claims that their approach to protecting the VM image is the first policy-driven encryption solution tailored to address risks unique to the virtualized data center and IaaS private, public, and hybrid clouds. Their model enforces security policies that travel with the VM - securing the entire operating environment, including memory files, copies, snapshots, templates, and the sensitive data they contain. HighCloud VM-Centric Security currently supports VMware vSphere and is available in free (up to 5 VMs) and enterprise versions. ~~~
Surviving the Cisco CSA Transition Searching for behavioral based protection and control for your PCs? Look no further. The search for a viable replacement to Cisco’s CSA has resulted in frustration for many CSA customers. As they look for alternatives, their demanding requirements for behavioral-based protection and complete endpoint control are quite clear. Cisco CSA users want the same technological capabilities they’ve loved for years, or something better. The featured whitepaper ‘Surviving the Cisco CSA Transition’ is available now and will help provide a deep view into these requirements. Download the whitepaper. Complete your search. Core Systems: Growing the Credit Union with the Help of Core Systems
~~~ More Americans are unbanked in the Southeast than in any other part of the country with Mississippi leading the US with more than 16 percent of households using cash-and-carry for all their transactions. A new interactive map released by the Pew Charitable Trusts shows state-by-state comparisons for median FI fees and policies, as well as percentage of US households that are unbanked. Their research shows that the national median monthly fee for a checking account is $8.95, while the national median minimum combined balance to avoid a monthly fee is $2,500. Overall, around 12 percent of all Americans do not have any financial institution to call their own, based on 2009 data from the FDIC. ~~~
Online Banking/E-Commerce/Website Design A new report from Javelin Strategy & Research finds that only slightly more than half of consumers who try to open a checking account online do so successfully. They discovered that a quarter give up in frustration and completely abandon the process. As part of the research for the report, Javelin's secret shoppers tried out the online application process for various types of accounts at 10 major banks, as well as five other institutions including credit unions and online banks, and found convenience sorely lacking in some cases. ~~~
Passageways specializes in providing corporate portal solutions for CUs, connecting their employees, directors, partners and vendors. Passageways solutions are used to streamline communications, increase collaboration and automate internal processes by replacing traditional intranet solutions. Our featured solutions include: ~ Employee Portal
Yubico announced the availability of YubiRADIUS, a free virtual appliance server that delivers secure remote access, SSL-VPN and VPN connectivity. The company says that YubiRADIUS is enterprise-class VPN software that is integrated with their YubiKey, which is a compact USB authentication device, adopted by more than one million users globally. With a touch of the YubiKey, the device automatically generates and enters a unique identity and One-Time Password (OTP) for secure two-factor authentication. The password part can be checked against the organization s existing Active Directory or LDAP so users only have to remember their traditional network password. ~~~ Echopass Corporation has released the EchoCallBack application, part of the Echopass EchoSystem suite of cloud-based contact center solutions. The proprietary application offers callers the option of waiting on hold for an available service representative or requesting a call back, based upon the caller s own availability and schedule which provides a good alternative to extended hold time. ~~~
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk, at these upcoming conferences: November 5-9, Palm Springs - Reaching Your Members in the 21st Century June 6-8, Las Vegas - Credit Union InfoSecurity Conference |
