CU news Logo

 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 29, 2013

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


General News


* Guardian Analytics Announces Solution to Prevent Wire Fraud
* Synergent Selected By Pioneer Valley FCU
* CipherCloud Announces Cloud Data Discovery
* Nymeo FCU Chooses NeighborBench

Guardian Analytics, a leading provider of behavior-based anomaly detection solutions for preventing banking fraud, announced their latest offering – a real-time, risk-based wire fraud prevention solution. The new solution, FraudMAP Wire, addresses the escalating problem of fraudulent wires initiated across all banking channels—call center, fax, branch, email and online.

Synergent Technology Services announced that Pioneer Valley FCU, located in Massachusetts, with 6,270 members, and $41.7 million in assets, will implement the Symitar Episys Core Processing System in Synergent’s service bureau environment. Additionally, the credit union will implement Synergent Electronic Check Collection and Share Draft Processing Services, ATM/Debit Card Processing and Statement Processing Services.

CipherCloud, a leader in cloud information protection, announced Cloud Data Discovery, a new addition, to its cloud information protection Platform, which enables organizations to rapidly adopt SaaS and cloud applications while ensuring that their compliance policies are fully met and their sensitive information is protected. The company says that credit unions can now discover and gain granular visibility into all of the information their users are sharing across all of their cloud applications.

NeighborBench, a provider of advanced compliance solutions for credit unions, announced Nymeo FCU as one of its most recent client additions. Nymeo Federal Credit Union ($240 million in assets, headquartered in Frederick, MD) selected the cloud-based NeighborBench compliance solution to help it maintain compliance efficiently as it serves over 20,000 members.



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:


* 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

Intel has announced that the Thunderbolt and USB SuperSpeed specifications will soon double data transfer speeds, plus the USB Super Speed 3.0 spec will boost power transfer in both directions from 10 watts to 100 watts. The increase in power means that computer monitors and laptops can be powered through the use of a single USB hub, which would also allow for a bidirectional data flow. The Thunderbolt peripheral interconnect will soon move from 10Gbps to 20Gbps. The USB SuperSpeed specification will double from 5Gbps to 10Gpbs.

HID Global announced its new Fargo HDPii Plus financial card printer/encoder, the successor to its HDPii desktop solution for retransfer printing of financial cards. The new device features the company's fifth generation of high definition printing technology, and enables secure instant issuance of both magnetic swipe and contact/contactless EMV cards. The unit features AES256 data encryption, resin ribbon erase functionality and inline encoding capability for both ISO magnetic swipe and EMV contact/contactless chips. 


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


Back to Top

Software Updates

FactFinder Express is a server monitoring tool which opens up the application layer of the server, showing the applications on the server, all their network connections, and how they are performing. It can be used to help pinpoint the true root cause of the problem:


  • Is the application itself slow?
  • Is the slowdown caused by server resource contention?
  • Are back-end databases or services to blame?
ProduKey from NirSoft scans the registry on your system and comes up with the product keys for each of the supported Microsoft applications that you have installed. ProduKey can identify product keys from various versions of Windows, Microsoft Office, Windows, SQL Server, and Exchange Server. Once the package finds the product keys, it allows you to save them so that you can find them whenever you need to reinstall that software. There are two versions of this free program: one for 32-bit and one for 64-bit operating systems.




Software Updates Sponsored by
Raddon Financial Group (RFG)

Back to Top


RBR’s study “Multivendor Software 2013” shows that multivendor and cross-vendor deployments comprise a total 740,000 ATMs, representing 28% of the world’s 2.6 million installations. RBR’s research found that the ability to cross sell across various channels, together with a desire to integrate with other channels espceially mobile, were the most important drivers of ATM channel integration. Three companies – NCR, Wincor Nixdorf and China’s Shenzhen Zijin – account for half of all multivendor application software. The last is present only in Asia-Pacific and is a partner of UK software firm KAL, the largest independent supplier of the “middleware” that enables an application to run on any vendor’s hardware.

NCR says that thier new Skimming Protection Solution prevents skimming activity, notifies a credit union of an attack in real time, and adapts quickly to new types of attacks. SPS can report in real time any attempt to tamper with or disable the jamming signal to law enforcement. NCR Financial Services highlighted the following skimming statistics:

- approximately 20,000 skimming incidents in the United States in 2012

- average cost per incident approached $50,000

- skimming represents 80% of all attacks against the ATM

SmartMetric announced the successful incorporation of near field communication (NFC) technology into its fingerprint-activated biometric chip card. The chip remains inactive until the cardholder touches the fingerprint sensor on the card. The company claims that it is the only fingerprint activated card that can be used with ATMs and point-of-sale devices.


ATMs/Kiosks Sponsored by
Heritage Industries

Back to Top

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:


Horsetail Technologies

and their client is:

EP Federal 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!


Back to Top

Wireless World

According to a new study by Harris Interactive and Jumio, consumers are still using mobile devices for financial transactions despite their concerns about security. Of the 2,130 smartphone and tablet users across the U.S. who took part in the survey, 83 percent said they were concerned about identity theft and about 25 percent said they had been a victim of online or mobile fraud. However, 60 percent said they planned to use mobile devices to check account balances and pay bills more often in the future.

ACI Worldwide announced the availability of ACI Architect Mobile Banking which they say enables credit unions to deliver secure mobile browser capabilities, downloadable apps and text banking to their members. The solution also delivers personal financial management tools, integrated bill payment and account-to-account transfers.

On average, people check their phones 150 times a day or every 6.5 minutes, according to Web application performance firm New Relic. The firm's usage breakdown places playing games at 43 percent of people's time, while social media eats up 26 percent. Collectively, the Apple App Store and Google Play marketplace carry more than 1.5 million apps, but of those downloaded, one in four is often abandoned after initial use, never to be played with again, New Relic said. About 60 percent of iOS apps have never been downloaded from the store.


Back to Top

Security Section

A redesigned $100 bill coming in October that will hopefully thwart counterfeiting. The redesigned note incorporates security features such as a blue, 3-D security ribbon and a disappearing Liberty Bell in an inkwell. The lenses magnify the objects underneath them to make them appear to be moving in the opposite direction from the way the bill is being moved.

Financially motivated cybercrime accounted for 75% of data breaches in 2012, according to the Verizon 2013 Data Breach Investigations Report. In 2012, breaches affecting financial organizations accounted for 37% of the total, followed by retailers and restaurants (24%); manufacturing, transportation and utilities (20%), and information and professional services firms (20%). Hacking remains the top attack method, accounting for 52% of data breaches. Seventy-six percent of network intrusions exploited weak or stolen credentials (user names and passwords); 40% incorporated malware; 35% involved physical attacks such as ATM skimming; and 29% used social tactics, such as phishing.

Technology company Facebanx has developed a new online facial recognition solution that they say will enable credit unions to dramatically reduce fraud and ID theft. Facebanx works by users adding their face to their account via the camera on their laptop, mobile phone or tablet and then the software compares the facial image against a database of faces to flag up possible fraud. Each face is recorded via a video stream and the technology compares multiple images taken throughout the recording to confirm that the person is real and not a photo.


Security Section Sponsored by

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.


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.


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:



Back to Top

Leaders Roundtable


Online, Mobile, Network & Physical – Securing the Spectrum

BrandProtect -
Read Michael Kiefer's comments:

CloudAccess -
Read Kevin Nikkhoor's comments:

Easy Solutions -
Read David Sylvester's comments:

FireEye -
Read Manish Gupta's comments:

GreyCastle Security -
Read Reg Harnish's comments:
Guardian Analytics -
Read Terry Austin's comments:
Harland Financial Solutions
Harland Financial Solutions -
Read Tom Berdan's comments:

Horsetail Technologies -
Read Chris Sachse's comments:
Integrated Media Management -  
Read Nish Shah's comments:

MokaFive -
Read Purnima Padmanabhan's comments:

Millennial Vision -
Read Scott Cowan's comments:

Network Box
Network Box -  
Read Pierluigi Stella's comments:

Hyland Software -
Read Steve Comer's comments:

Ongoing Operations
Ongoing Operations -  
Read Kirk Drake's comments:

Q2ebanking -
Read Jay McLaughlin's comments:

Rallypoint Solutions -
Read Kris Zupan's comments:

Security Compliance Associates -
Read Jim Brahm's comments:


Back to Top

Technology and Marketing

Since 1989, the number of Americans between the ages of 55 and 64 who still have a mortgage has risen from 49% to 63%, while the median mortgage balance has tripled to $85,000. To help Baby Boomers facing late life mortgages, some credit unions are offering innovative mortgages. One offers a "Goodbye Mortgage" that features a five-year, fixed-rate mortgage, while another offers a flexible mortgage plan specifically for members within five to 12 years of retirement. Older memebrs can select anywhere from a five-year fixed-rate to a 12-year fixed-rate mortgage.


Back to Top

Online Banking/E-Commerce/Website Design

The Mercator Advisory Group is reporting that prepaid debit cards experienced a nearly threefold increase in the amount of funds loaded on them between 2008 and 2012 to $76.7 billion. The research firm anticipates $168.4 billion being loaded onto such products by 2015. It appears that the product's ability to manage balances and deposit checks through smartphones is closing the gap between the cards and checking accounts, especially for younger consumers.

NACHA recently announced two new opt-in programs for credit unions that it says will support payment innovations. The first is the XML Remittance program which will enable the use of the XML data format for transmitting business-to-business (B2B) transactions through the ACH network. Meanwhile NACHA's Deposited Check Truncation (DCT) program will enable credit unions to use the ACH to collect low-value consumer checks.

By some accounts, the Durbin Amendment is starting to hurt smaller issuers’ debit card income even though financial institutions under $10B in assets are explicitly exempted from the law’s cap on interchange rates. We will take a look at this disturbing trend in the May issue of Credit Union tech-talk - subscribe today.


Back to Top

Internet Access

XO Hosted PBX is a cloud-based offering that combines voice and network services with equipment in one complete solution, for a fixed monthly price. The system's latest upgrade allows customers to connect to the XO VoIP service, leveraging the XO Hosted PBX features with an Internet connection from any broadband provider. The feature is designed to give midsize and multi-location organizations more flexibility for all of their offices and operations.

Allworx has introduced an upgrade to the Allworx System Software 7.5. The companys says that users can now enjoy all the IP-based Allworx phone features on their Android or Apple tablet or smartphone. The company says that their Reach app essentially takes their phone system and virtualizes it on a mobile device.


Back to Top

Call Centers

The ICMI recently asked what software their contact center community used to schedule their contact center agents. Here are the results:

- 51% are using spreadsheets

- 21% use cloud-based WFM software

- 21% are using software either homegrown or built into their CRM, ACD, or routing technology

- 7% don't use any tools at all


Back to Top



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

Back to Top