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April 1, 2013 - April 5, 2013
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* Coastal CU Converting to Symitar’s Episys
* Wycom Systems Offers WySign
* Code Green Bought by Welch ATM
* LivePerson Mobile Chat Goes Live at San Diego County CU
Jack Henry & Associates, a leading provider of technology solutions and payment processing services primarily for credit unions, announced that their Symitar division is installing the Episys core platform in-house for Coastal Credit Union in Raleigh, NC. The $2.2 billion credit union plans to enhance the Episys core functionality with custom programs and applications that can be shared via the PowerOn Marketplace.
Wycom Systems, a leading provider of solutions that improve check, receipt and document processes, announced it has launched WySign, a check signing solution that increases the efficiency and improves the security of the checking signing task. WySign is well suited for any credit union that produces checks in volume and is eager to reduce the associated costs and the potential for fraud.
Welch ATM announced its acquisition of Code Green, a marketing strategy and technology services firm specializing in the development, creation and sale of products and services for credit unions. Jason Green, founder of Code Green and now president of the Code Green division of Welch ATM, said his company would continue to work on new products for credit unions.
San Diego County Credit Union is making LivePerson's Mobile Chat feature available on its mobile site in an effort to better engage with its growing volume of mobile members in real time. In addition to basic chat, LivePerson said its software provides screen sharing and visual cues that allow agents to point to places on the app to show members where to tap, swipe or flick.
Credit Union InfoSecurity Conference Sponsored by
The 11th annual CU InfoSecurity Conference will cover the following topics and more:
* Beyond SIEM
* Social Media Risks
* Phishing/Vishing Trends
* Cloud Backup Strategies
* Securing Mobile Banking
* Securing the Human Firewall
* Implementing & Securing IPv6
* Secure Document Management
* Information Security Programs
* Advanced Surveillance Security
* Assessments as IT Funding Tools
* Windows 7 & Windows 8 Security
Click Here for information, agenda, reservations & more.
Monnit released a new line of Wi-Fi sensors, known as MoWi. These sensors use an integrated, 2.4GHz - 802.11b/g, FCC/CE certified radio transmitter which allows them to work with virtually any Wi-Fi network. MoWi sensors are available in 12 of the most popular sensing types including: temperature, humidity, door and window (open/close), motion, water, activity, dry contact and button. They communicate through existing Wi-Fi networks to iMonnit, the online data monitoring system, which aggregates sensor information and sends notifications via text or email if user defined conditions are met or exceeded.
Arecont Vision announced the availability of the world’s first 12-megapixel 180° panoramic dome camera with true Wide Dynamic Range (WDR). The company claims that their panoramic cameras render pan-tilt-zoom cameras obsolete by covering a full 180° field-of-view with high resolution, allowing users to zoom-in for details. Four 3-megapixel WDR image sensors inside the SurroundVideo WDR 180° camera each provide 2,048 x 1,536-pixel resolution for a total resolution of 8,192 x 1,536-pixels.
Hardware Section Sponsored by
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Silver Peak Systems announced a new virtual application designed to speed up data duplication for disaster recovery without the purchase of additional hardware. The company's VRX-2, VRX-4 and VRX-8 products are part of its Virtual Acceleration Open Architecture, a software suite that features a number of virtualized WAN optimization offerings. The VRX line is compatible with most major hypervisors, including KVM, Hyper-V, vSphere and XenServer and functions with asynchronous IP-based replication products made by NetApp, HDS, Dell and EMC.
Dell has released a new software product designed to make solid state drive caching on servers more efficient, resulting in improved performance of applications such as databases. The Fluid Cache 1.0 software technology sits between the Express Flash solid state drives attached directly to the PowerEdge 12G servers. The software essentially is an application accelerator that creates a high-speed caching pool to facilitate quicker reading and writing of data from SSDs. Dell claims that the software can boost database response times by up to 95%, and allows for the addition of more concurrent users accessing the database.
Software Updates Sponsored by
Raddon Financial Group (RFG)
FICO released data showing which states were hardest hit by ATM compromises across the U.S. last year: California, Florida and Northeastern states. Nearly half (46 percent) of all card skimming reported by the FICO Card Alert Service occurred at financial institution ATMs, while 36 percent took place at retail point-of-sale (POS) terminals, and 18 percent occurred at white-label ATMs – machines not operated by FIs. Meanwhile, skimming at POS devices dipped significantly from 2011 to 2012 - in 2011 POS fraud accounted for 79% of incidents, but in 2012 the POS share fell to 36%.
Unfortunately, card skimmers are becoming more and more affordable for scam artists - in some cases they are available for $3000. Plus Bluetooth devices increasingly are being used to transit stolen card and PIN data wirelessly. Now the crooks are also turning to vestibule doors, train ticket kiosks, parking meters and a host of other unattended payment terminals. We will provide a full update on skimming in the May issue of Credit Union tech-talk - subscribe today.
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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:
Many analysts think that there is no reason to force credit and debit cardholders to log into their mobile devices to see basic transaction data, unless they specifically want this as a security feature. It appears that Barclaycard is the first major U.S. issuer that has opened up no-login mobile transactions with their new iPhone app. Their new Peek feature provides a quick-view of key account details prior to login. Proponents argue that no-login transaction viewing is a good way to improve cardholder satisfaction, help move the issuer's card to the top of wallet, and reduce costs from fewer password resets, fraud, and call center interactions.
The skyrocketing popularity of smartphones is creating a market for mobile wallets capable of serving many of the same purposes physical wallets served for years but now are able to take advantage of a plethora of new functions made possible in an increasingly digital marketplace. For credit unions, mobile wallets represent an opportunity to add more utility to their mobile banking apps. We will take a look at three popular technologies for initiating payments via mobile wallets in the May issue of Credit Union tech-talk - subscribe now.
Watchful Software released TypeWATCH 1.2, an e-biometrics solution that leverages the science of Keystroke Dynamics to identify and authenticate users simply by the way they interact with their system. TypeWATCH recognizes a person by the way he/she types on a keyboard and continually analyzes input to persistently ensure that the users are who they claim to be. The system employs continuous learning algorithms to offset for fatigue, switching or sharing of computers/keyboards and mood, and avoids standard privacy concerns since it does not register or log actual text or content being typed. Finally, the software-only solution provides a forensic audit trail tool, for compliance purposes, to use in the event of suspected unauthorized access attempt.
A recent survey by Avecto of IT admins found that workers between the ages of 20 and 35 – the Gen Y demographic - were seen by 80% of IT professionals as posing a formidable obstacle to application security. One of the main reasons was this group's perceived tendency to download unauthorized apps. Many of those surveyed agreed that it is not necessarily true that older workers don’t participate in risky behavior as well, but that Gen Y is more active and confident in finding applications for themselves and convinced of their right and need to download and use them.
Security Section Sponsored by
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Online, Mobile, Network & Physical – Securing the Spectrum
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Expion is a social software company that allows marketing teams to localize and manage their social marketing efforts. The centralized platform excels in three areas, monitoring, posting and analysis. The posting portion of the product is particularly strong, and its interface looks a lot like the Wordpress blogging software. You develop a content "library" and schedule when and where your messages will appear. Its dashboards feature useful graphics and its word clouds can be used to further define which phrases will elicit the most response from your audience. Pricing starts at $1,500 per month.
According to a survey released in September, 75 percent of the 50 largest U.S. credit unions offer free checking accounts with no catches, versus just 39 percent of banks. The Bankrate.com poll found that availability of standalone free checking at credit unions has dropped slightly from 78 percent since 2010, while the portion of such accounts at banks plummeted from 65 percent.
Western Union released findings from their Payments Money Mindset Index that shows that consumer preference for online and mobile bill payments continues to grow, with 39 percent of consumers in the United States saying they will pay more bills online in 2013, and 12 percent intending to pay more bills by mobile phone. Mobile adoption for urgent, same-day payments is also on the rise: 14 percent of consumers report that they will make an urgent payment via their mobile device in the next six months. Furthermore, 25 percent of consumers report that they will send fewer checks in the mail to pay their bills. The Money Mindset Index also reveals the mix of channels consumers are using to pay their bills, as they continue to seek choice and flexibility in their payment options:
- 46 percent of bills are paid via a biller or FI website
- 20 percent of bills are paid via mail
- 19 percent of bills are paid via an automatic deduction or recurring payment
- 8.7 percent of bills are paid in-person at a walk-in location
- 3 percent of bills are paid via a landline phone
- 2 percent of bills are paid via mobile phone
Misys is introducing a new line of software geared toward helping credit unions better attract and manage online and mobile members. The company said its BankFusion Digital Channels software modules provide online banking, mobile banking, personal financial management, and Internet brokerage functionality.
The percentage of North American companies using SIP (Session Initiation Protocol) trunking and traditional T-1s will just about equalize in two years, marking a significant shift in technology used for external corporate communications. SIP trunking involves connecting all corporate voice, video and data traffic to service providers' networks over a single IP connection. This removes the need for dedicated circuits to handle each type of traffic, thereby making more efficient use of bandwidth and lowering costs.
Responsive Web design is becoming increasingly important as consumers access websites from a growing variety of devices. In action, responsive web design is about building a Web presence that scales and functions well on desktop, tablet and mobile devices. We will highlight several tools and online services that will help you build a responsive website in the May issue of Credit Union tech-talk - subscribe today.
Internet Access Sponsored by
CREDIT UNIONS IGNORING EMAIL SECURITY RISKS
Simple Solution Ensures Confidential Information Remains Private
The Financial Sector will find it easier to meet increasing demands for secure communications with the launch of a foolproof, simple and cost-effective email encryption solution.
Mkryptor (www.mkryptor.com) is a new, low cost and easy to use email encryption across devices from PCs and Macs to smartphones. Mkryptor requires no special keys at the recipient end and no extra software on either the sender or recipient device.
Email users should always consider encryption of sensitive material, but professional bodies are routinely emailing confidential client information unsecured, which is highly risky.
We used to drive without seatbelts, ride without helmets, smoke indoors in public places. We’ll soon look back and see how crazy it was to send confidential email unencrypted.
Email incidents risk ending careers, a business collapsing under legal costs and reputational damage of confidentiality breach. Next time you send unprotected email, ask yourself what you are going to tell your member if their data turns up on the Internet?
Existing encryption products fail the usability test. Mkryptor delivers peace of mind and ensures that your credit union’s confidential information stays confidential; it not only lowers your risk, provides a clear audit trail and it takes just a few seconds to use.
By some estimates, agents spend as much as 49 minutes of each day sitting idle at their desks, waiting for the next call. Unfortunately, this idle time often comes in small increments of just a few minutes, which doesn’t allow for agents to complete many meaningful activities. Intradiem’s intraday management solution monitors call volume and service levels to find and defragment idle time to push personalized and prioritized activities to agents’ desktops. Activities such as online training, coaching, knowledge base reviews and back-office work are prioritized and dynamically delivered to the agent desktop during natural downtimes in call volume. The credit union’s business rules determine when and how Intradiem delivers tasks.
Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk, at these upcoming conferences:
May 30 - June 1, Scottsdale - 40th Annual FSPA Conference
June 5-7, Las Vegas - Credit Union InfoSecurity Conference