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 Your source for the latest technology information of interest to credit unions across America.

Subscribe to our weekly e-mail newsletter and/or our monthly newsletter and stay on top of the latest technology trends in Hardware, Software, ATMs, Biometrics, Wireless, Online Banking, Marketing, Security, Internet Access and Call Centers.

April 15, 2013

April 15, 2013 - April 19, 2013

 

 

 

 

 

March Networks is the No. 1 supplier of video surveillance systems to Financial Institutions in the Americas
800 563 5564

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~ This Week's News is Sponsored by Better Branches ~

 

General News

 

* Tampa Bay FCU Signs with Connect for Online & Mobile Banking
* ESP Enhances Shared Branch Acquirer
* Allied Payment Network’s Bill Pay Works with CSPI Online Banking
* Lake Trust CU Partners with PSCU for MasterPass Digital Wallet
 

Connect Financial Software Solutions announced a multi-year agreement with Tampa Bay Federal Credit Union. With more than 27,000 members and $210 million in assets, Tampa Bay Federal selected Connect for its suite of Online Banking, Mobile Apps, and PFM channel solutions. Connect’s suite of products include Online Banking, Mobile, Mobile Remote Deposit Capture, Online Account Opening and custom applications, and are available as a hosted or in-house solution.

Enhanced Software Products (ESP), a Spokane, WA-based Data Processing solutions provider with a strong focus on Client Retention, announced that they have enhanced their core solution, FORZA3, by closely integrating Shared Branch functions. The Shared Branch Acquirer experience is now integrated so that employees do not leave their workspace, plus the functions, look and feel are what they are familiar with.

Allied Payment Network, a provider of online bill payment services to credit unions, announced that its online and mobile bill payment solutions now integrate with Computer Service Professionals, Inc.’s (CSPI) Aurora Online Banking platform. Through this integration, CSPI’s latest online banking platform will leverage Allied’s bill payment technology to offer its customers a comprehensive bill pay solution within a single platform.

PSCU announced that Lake Trust Credit Union (Lansing, MI) will be the first credit union in the U.S. to deploy MasterCard’s MasterPass digital wallet service. The PSCU Member-Owner credit union has been participating in a MasterPass pilot since PSCU announced its partnership with MasterCard MasterPass in late February.

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Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

The 11th annual CU InfoSecurity Conference will be held June 5 - 7, 2013 at the Platinum Hotel in Las Vegas, NV.

This is a one-of-a-kind conference - a security conference dedicated solely to credit unions. Highly experienced, expert speakers discuss the latest security trends as they specifically apply to credit unions. Also included is a tour of InTouch Credit Union’s Lake Mead high tech branch. The CU InfoSecurity Conference is priced so that the majority of credit unions can afford it - just $395 per person and $295 for returning attendees. Topics include:

 

* BYOD
* 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.

Mention this ad and get a $100 discount!


Hardware News

LenovoEMC, the storage vendor behind the Iomega brand, is launching a series of network video recorders to help organizations monitor their premises. LenovoEMC's NVRs, all powered by Milestone Arcus, include three models:

- a double-drive px2-300d with 4TB of storage and four camera licenses - a four-drive px4-300d with 4TB and eight camera licenses - a four-drive px4-300d with 8TB and 16 camera license

VoIP Supply Refresh, which was founded in 2009, is a company that provides recycled VoIP hardware. The most recent phone system to join their refurbished line of VoIP phones is Cisco’s SPA504G Salvage Edition. The SPA504G edition underwent a 10-step reconditioning process, where it was cleaned, inspected, upgraded, reset to factory defaults and repackaged with accessories like a CD with manuals and a Certificate of Freshness.

LED, LCD and plasma screens are coming down in price which means that even fairly small credit unions can afford to roll out digital signage in their branches. We will provide some examples of successful digital messaging implementations in the May issue of Credit Union tech-talk - subscribe today. 

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Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)

 

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Software Updates

SiSoftware offers Sandra 2013 which is a single tool that offers both benchmarking and testing capabilities. The software can give your PC a workout, thoroughly testing each component for speed and functionality, such as the CPU, GPU, RAM, and disk drive performance. Sandra’s included “burn-in” test can be set to run constantly at maximum utilization as a means to stress-test new equipment. The package can run comprehensive testing of not only your local machine, but on networked PCs via “remote analysis,” which grants you the ability to connect to a PC located on the network and run diagnostics to suit your needs. The Personal edition starts out at $49.99, while the 500 seat Enterprise license version runs $7000.

SmartBear Software, provider of software quality tools, has released WebLoadUI which is a free performance, stress and load testing tool. WebLoadUI uses a simplified wizard-based interface, so that organizations can go beyond pinging websites and simulate real user activity for a large number of virtual users. Key benefits include the ability to run load and stress tests on any Web server or type of Rich Internet Application (RIA), create realistic load tests by recording user scenarios on any browser, easily create data-driven tests by simulating users and using the over 15 built-in data generators.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

In September 2011, MasterCard announced that a global chip liability shift for non-U.S. issued Maestro cards would be implemented on April 19, 2013 for the U.S. ATM channel. The point of the liability shift program is to prevent fraud by giving all parties to a transaction a stake in applying the highest level of security end-to-end. Now in an open letter it issued jointly with the National ATM Council, a trade association of ATM independent sales organizations and industry vendors, MasterCard said it would launch a service called Fraud Rule Manager to identify and mitigate counterfeit fraud at ATMs that can’t accept Europay-Visa-MasterCard (EMV) chip cards. Specifically, MasterCard will use Fraud Rule Manager to block 100 percent of transactions subject to the liability shift on the more than 80 percent of U.S. ATMs that averaged one or fewer cross-border Maestro transactions per month in 2012. The Fraud Rule Manager service will be implemented automatically without additional fees for all non-EMV ATMs in the U.S.

In theory, credit and debit cards and electronic bill pay should make cash superfluous. However just the opposite is true - the Federal Reserve Bank of San Francisco notes that measured in dollar terms, there is 42 percent more cash in circulation today than five years ago. Cash offers convenience, dependability and anonymity, plus the decline in interest rates has reduced the opportunity cost of holding cash relative to interest-earning assets. About 84 percent of the increase in cash since 1990 has been in the form of $100 bills, which have risen to 77 percent of the value of cash outstanding in 2012 from 52 percent in 1990. Finally, about 65 percent of all $100 bills in existence circulate outside the United States.

Some studies conducted with ATM ad-screens and video toppers have shown very successful impression rates. We will take a closer look at ATM screen branding in the May issue of Credit Union tech-talk - subscribe now.

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ATMs/Kiosks Sponsored by
Heritage Industries

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CU Success Stories 

 

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:

 

Adapt Telephony Services

and their client is:

FORUM Credit Union

Credit Unions - if you have a vendor that you are happy with then please This email address is being protected from spambots. You need JavaScript enabled to view it.!

Vendors - if you have a credit union that is happy with your solutions then please This email address is being protected from spambots. You need JavaScript enabled to view it. and we will give you a $100 discount on your Case Study!
 

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Wireless World

In the new report, Mobile Banking Vendor Solutions, Celent states that mobile is top of mind at most FIs that they speak to. The research firm observes a number of trends in the mobile market today:

1) Mobile RDC Is No Longer a Nascent Technology

2) Online and Mobile Are Converging

3) Merchant-Funded Rewards Are Emerging

4) The HTML5 Vs. Native Debate Continues

5) Tablets

Regions Bank has come out with a new fee structure for mobile remote check deposits. Instead of a standard per-use fee, they have developed a tiered pricing structure dependent on funds availability:

 

  • Immediate: 1% to 3% of check amount, with $5 minimum
  • Same night (8 pm cutoff): $3 per check
  • Two days: 50 cents per check
There is also a potential $1 additional fee to temporarily raise your daily deposit limit to deposit a large check.

Analysts at IDC Financial Insights have announced a new report, "Business Strategy: Mapping the e-Wallet Landscape," that categorizes the types of mobile wallets — or e-wallets, which is IDC's preferred term. The research firm utilizes these three categories:

- Proximity e-wallet: e-wallets intended for in-person commerce, usually involving a point-of-sale terminal

- Remote e-wallet: e-wallets used for e-commerce

- Hybrid e-wallet: a proximity e-wallet using remote technologies to affect a purchase at the POS terminal

 

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Security Section

A new report published by Wombat Security Technologies reveals what various organizations have learned from their own experiences with simulated phishing attack training programs. Here are some of their tips in regards to successful phishing simulation training efforts:

 

  • Get executives from all departments on board
  • Determine the baseline of user awareness before launching any simulated phishing campaigns
  • Gather metrics on the user reaction data to prioritize training
  • Inform employees of the simulated phishing training program, why you are doing it, and how it will make them and the credit union safer and more secure
A honeypot is computer software or a device that exists solely to be attacked. You can take any computer - typically old and underpowered machines - and use it as a honeypot. Some people argue that honeypots are a waste of an IT Department’s valuable time and effort, while others insist that they are high-value, low-noise defense assets. We will cover honeypots in the May issue of Credit Union tech-talk - subscribe today.

 

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Security Section Sponsored by
THE FINANCIAL & SECURITY PRODUCTS ASSOCIATION (FSPA)

Our members, located in every state, will be more than happy to consult with your credit union regarding: Upgrading branch security equipment, remodeling branches, servicing all types of physical & electronic security equipment (to include keeping older equipment operational), and providing quotes on ATMS, cash-recyclers, safes, vaults, safe-deposit boxes, after-hour-depositories, drive-up banking systems, tellers’ undercounter steel & storage units, insulated products and all types of electronic security & digital video systems. This email address is being protected from spambots. You need JavaScript enabled to view it. by telephone or e-mail for an immediate referral to a member-company in your local area.

CREDIT UNIONS:

For more information or for a member referral in your specific geographic area, please This email address is being protected from spambots. You need JavaScript enabled to view it. for a prompt & detailed response. Our members carry a very broad line of products and are able to provide credit unions with many powerful and affordable alternatives for their security equipment & servicing needs.

SECURITY VENDORS:

For more information about joining our organization and all of the accompanying benefits, please This email address is being protected from spambots. You need JavaScript enabled to view it. for a prompt & detailed response.

Call Today: 800.843.6082

Visit Us Online Today: http://www.fspa1.com

 

 

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Leaders Roundtable

Security:

Online, Mobile, Network & Physical – Securing the Spectrum

BrandProtect
BrandProtect - http://www.brandprotect.com
Read Michael Kiefer's comments:
https://www.cunews.com/BrandProtect.pdf

 
CloudAccess
CloudAccess - http://www.cloudaccess.com
Read Kevin Nikkhoor's comments:
https://www.cunews.com/CloudAccess.pdf

CloudAccess
Easy Solutions - http://www.easysol.net
Read David Sylvester's comments:
https://www.cunews.com/EasySolutions.pdf

 
GreyCastle
GreyCastle Security - http://www.greycastlesecurity.com
Read Reg Harnish's comments:
https://www.cunews.com/GreyCastle.pdf
 
GuardianAnalytics
Guardian Analytics - http://www.guardiananalytics.com
Read Terry Austin's comments:
https://www.cunews.com/Guardian.pdf
 
Harland Financial Solutions
Harland Financial Solutions - http://www.harlandfinancialsolutions.com
Read Tom Berdan's comments:
https://www.cunews.com/HFS.pdf

Horsetail
Horsetail Technologies - http://www.horsetailtech.com
Read Chris Sachse's comments:
https://www.cunews.com/Horsetail.pdf
 
IMM
 
Integrated Media Management - http://www.immonline.com  
Read Nish Shah's comments:

MokaFive
MokaFive - http://www.mokafive.com
Read Purnima Padmanabhan's comments:
https://www.cunews.com/MokaFive.pdf

MVi
Millennial Vision - http://www.mviusa.com
Read Scott Cowan's comments:
https://www.cunews.com/MVi.pdf

Network Box
 
Network Box - http://www.networkboxusa.com  
Read Pierluigi Stella's comments:

Onbase
Hyland Software - http://www.onbase.com
Read Steve Comer's comments:
https://www.cunews.com/Hyland.pdf

Ongoing Operations
 
Ongoing Operations - http://www.ongoingoperations.com  
Read Kirk Drake's comments:  
https://www.cunews.com/OGO.pdf

Q2ebanking
Q2ebanking - http://www.q2ebanking.com
Read Jay McLaughlin's comments:
https://www.cunews.com/Q2ebanking.pdf

Rallypoint
Rallypoint Solutions - http://www.rallypoint.us.com
Read Kris Zupan's comments:
https://www.cunews.com/Rallypoint.pdf

SCA
Security Compliance Associates - http://www.scasecurity.com
Read Jim Brahm's comments:
https://www.cunews.com/SCA.pdf

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Technology and Marketing

As the economy improves and new car prices continue to rise, automobile loan terms are being extended. Auto sales also have been climbing for the last three years as many financial institutions have eased credit standards and increased their willingness to offer longer term loans, plus the used vehicle market remains strong. In an effort to attract borrowers who want to keep their monthly payments less than $500, Ally Bank is now offering a 97-month car loan.

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Online Banking/E-Commerce/Website Design

PFM (personal financial management) solutions vary in their offerings and functionality. According to MoneyDesktop, here are five essential features to look for in a PFM:

- Unique Mobile User Experience

- Account Aggregation

- Expense Tracking

- Creative Budgeting

- Debt Management

According to NACHA, total ACH network transaction volume grew 4.2% in 2012 to nearly 16.8 billion transactions from 16.1 billion the prior year. WEB volume, an ACH code primarily for consumer debits through online bill payments, jumped 10.2% to 2.95 billion transactions last year from 2.68 billion in 2011. WEB now accounts for nearly 18% of ACH volume, while paper-based ARC (accounts receivable conversion), dropped 6.9% to 1.86 billion transactions last year from just over 2 billion in 2011.

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Internet Access

Alcatel-Lucent announced new cloud-based communications services addressing both the larger enterprise and the small business market with the OpenTouch Suite for Cloud providing three segmented solutions: the Enterprise Cloud, the Office Cloud and the Personal Cloud. The OpenTouch Enterprise Cloud solution combines OpenTouch with Alcatel-Lucent's OmniPCX Enterprise, delivering telephony, video, instant messaging, presence, conferencing and Web collaboration from the cloud. As a software suite, it's hardware agnostic and fully virtualized so it can be deployed in the cloud or as an overlay to an existing CPE-based telephony infrastructure.

TDoS (Telephony Denial of Service) attacks are unfortunately starting to ramp up in addition to its much more familiar cousin the DDoS (Distributed Denial of Service) attack. In action, the criminals launch a high volume of calls against the target network, thus tying up the system from receiving legitimate calls. TDoS attacks have been associated with simultaneous frauds occurring inside a financial institution, as well as demands for payment to stop the onslaught. It is very difficult to defend against TDoS attacks, so credit unions must have disaster recovery and business continuity plans in place that use a third party to pick up answering incoming calls in case of an event.

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Internet Access Sponsored by
Mkryptor

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.

For more information on how to improve your member service and lower your risk visit www.mkryptor.com for a demonstration or email us at This email address is being protected from spambots. You need JavaScript enabled to view it.

 

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Call Centers

According to research from Novantas, the typical sales conversion rate (sales units divided by walk-in traffic) in the branch is only about 1.5% on average; while in contact centers, they see higher average conversion ratios of about 2%. Leading contact centers can even deliver double or triple the average in select areas with the right investments. The research firm notes that callers will usually set aside a minimum amount of time when they call to ask for help from a contact center, typically 15 minutes, which allows agents time to cross- and up-sell. While many centers will focus on the “next best product,” there can be other objectives:

- reducing attrition

- stimulating profitable product usage

- encouraging self-service

- evolving a secondary checking account into the primary account

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Conferences

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

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