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.
~ This Week's News is Sponsored by Better Branches ~
* Temple-Inland FCU Partners with INTECH
* CU*Answers Saves Clients Over $100K in Fraud
* Floridas Community CU Converts To Symitar’s Episys
* Access Softek Works with Allied Payment Network to Offer Mobile Photo Bill Pay
Temple-Inland Federal Credit Union recently signed on with INTECH as a new client partner. Temple-Inland Federal Credit Union, founded in 1950, is based in Diboll, TX and INTECH is long time provider of core data processing services and is based in Omaha, NE.
In January CU*Answers, the 100% credit union-owned cooperative CUSO, purchased FraudNet, a fraud prevention software that detects potential fraudulent activity over online bill pay scheduled transactions, from Fiserv. Based upon the initial six month timeframe FraudNet uncovered over $1.2 million dollars in suspicious activity and $108,000 in actual fraudulent transactions.
Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced that their Symitar division has signed the $450 million Community Credit Union of Florida to use Episys as its core processing solution. One of the reasons that the Rockledge-FL-based credit union chose Episys is because they noted that it will seamlessly support their unique workflow.
Allied Payment Network, a provider of online bill payment services to the financial industry, announced a reseller partnership with mobile banking software provider Access Softek. The partnership will introduce Allied’s Picture Pay mobile bill pay solution to Access Softek’s more than 350 financial institution customers.
IBM has introduced x86 and Power processors with a new dual-chip server module. Their Flex System servers are based on a new board design in which two blade-type motherboards are combined into one server package, which can then be slotted into one socket. That effectively doubles the processors, memory, storage and other hardware resources available per socket. The new Flex System X222, which runs on an x86 processor, will be able to deploy 2,800 Windows virtual machines simultaneously, and starts at $6669.
The video surveillance market continues to be headed to a “tipping point” in 2014, with revenue for network video overtaking analog for the first time ever next year. Analog cameras are still forecasted to continue outselling network cameras in terms of shipments throughout the period to the year 2017, but higher value resides in their rivals. Network cameras are generally higher-priced cameras with more advanced features. That means that while less than 20 percent of all cameras shipped in 2012 were network cameras, the size of the market for them in terms of revenue was almost as large as that for analog cameras.
Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)
In their new report, Global Core Banking: Steady But Unspectacular Growth, Celent estimates the size of the global core banking market at $8.6 billion in 2013. It is expected to grow at a 4.0% rate over the next four years, reaching $10.1 billion in 2017. The research firm notes that financial institutions change cores for a variety of reasons, with the three main drivers being:
1) External Forces
2) Specific Competition: There are two main ways that competition drives FIs to modernize their core: 1) Market Leadership, 2) Innovation Pressure
3) Internal Developmental Imperatives
Wolters Kluwer Financial Services has launched a new solution for its ComplianceOne suite of products that monitors loan portfolios in real-time. The software permits credit union personnel to check if loan policies and procedures are being followed, and includes the ability to identify performance uses and operational risks.
Software Updates Sponsored by
Raddon Financial Group (RFG)
Wincor Nixdorf announced the expansion of its ProCash range of compact ATMs with the new ProCash 285. This through-the-wall unit features a new weatherized system. It accommodates up to four cash cassettes, features a system that resists skimming or cash trapping, and allows integration of biometric sensors and cameras into the system to identify users.
Mobile ATM transaction prestaging is coming on the scene and some observers believe that it will take off in popularity quickly. We will discuss why many people are so bullish on this technology in the September issue of Credit Union tech-talk - subscribe today.
ATMs/Kiosks Sponsored by
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:
In a new report entitled "Corporate Mobile: Gaining Momentum," the Aite Group notes that the race is on for large financial institutions to offer corporate mobile banking. For those early movers already offering corporate mobile, the focus is on enhancing the breadth and depth of their capabilities beyond cash management and payment to align with their portal strategies. Planned enhancements include capabilities such as checking the status of a letter of credit or viewing commercial loan balances or liquidity information from a mobile device.
Isis, the mobile commerce joint venture created by AT&T Mobility, T-Mobile US Inc. and Verizon Wireless, has announced plans to roll out the Isis Mobile Wallet nationwide later this year, following what it described as successful pilots in Austin and Salt Lake City. The Isis Mobile Wallet uses near field communication (NFC) technology to allow consumers to pay, redeem coupons and present loyalty cards with a tap of their smartphone. To use the Isis Mobile Wallet, consumers need an NFC-enabled smartphone and a SIM-based secure element. Isis says that some 20 million smartphones already in use currently feature NFC technology and that millions more are being shipped each month by its mobile carrier partners.
One large institution recently launched an in-app mobile chat feature with the intention of reducing call waiting and in-branch queue times. We will take a look at this new technology in the September issue of Credit Union tech-talk - subscribe now.
SRA from SSH Communications Security is a lightweight scanning and reporting tool that enables security auditors to obtain actionable information as to the state of compliance and risk with respect to SSH identity and access management. SRA is free and is designed for use by security personnel and external auditors responsible for helping organizations identify and address IT security risk and compliance issues.
Netwrix Corporation announced Netwrix Auditor 5.0, a configuration auditing solution that provides detection of security incidents, vulnerability assessment, forensic analysis and continuous compliance. It provides alerts on critical changes, such as who changed password policy, and assesses system configurations, such as group membership, at any point in time. Netwrix Auditor 5.0 starts at $9.50 per enabled Active Directory user.
Some security experts contend that most breach victims have the evidence of the compromise sitting in their own event logs. Yet wading through log files is tedious and time consuming. We will cover some ways to automate this process in the September issue of Credit Uniontech-talk - subscribe today.
Security Section Sponsored by
THE FINANCIAL & SECURITY PRODUCTS ASSOCIATION (FSPA)
Call Today: 800.843.6082
Visit Us Online Today: http://www.fspa1.com
Online & Mobile Banking:
Moving from Transactions to Member-Centric Solutions
eEminder - http://www.eeminder.com
Read Thomas Utsch's comments:
Integrated Media Management - http://www.immonline.com
Read John Levy's comments:
A temporary pop-up branch has appeared in Atlanta as a way for PNC Bank to test a new market. The pop-up branch, which is a 20-foot x 8-foot steel container, comes with an ATM and will remain open seven days a week for about three months. Two specialists will use iPads to open new accounts, take loan applications and make referrals for mortgages and investments, as well as demonstrate online and mobile services to passersby.
Bitdefender has released a Windows application designed to help users secure sensitive Web-browsing sessions, especially when they bank online. The application is called Safepay and a free version is available to home users. The company says that their application provides users with a "hardened" Web browser that runs inside an environment protected by several technologies designed to prevent man-in-the-browser, phishing, packet sniffing and other types of attacks.
Arrowhead Credit Union has recruited college students to help train their members on how to use online and mobile banking. The “ArrowGeeks,” who went through intensive training, are available for personal assistance in branches, and have held in-branch “sneak-peek” sessions for the San Bernardino-based credit union's updated online banking platform and new mobile app.
Some analysts believe that telepresence holds great promise for retail banking. We will explain why they think that way in the September issue of Credit Union tech-talk - subscribe now.
By some estimates, there are more than 250,000 text messages sent per second which makes texting the second-most popular use of mobile devices besides checking the time. TSG Global is a VoIP and SMS service provider that works in collaboration with TextGen, an application that lets users text a business using the same number used for voice. When text-enabling toll-free or landline numbers, there are two main techniques: 1) text-enable the number and supply it directly to an organization that has the capabilities to handle incoming texts via Web call or API, using Web servers to interact with the texting community, and 2) apply an application layer, like TextGen.
When converting to a Voice over Internet Protocol phone system, it is possible to take a gradual approach and use some existing hardware. While some organizations replace all of their old phones and replace them with new touch-screen IP phones, this isn’t strictly necessary. There are Analog-to-digital converters that exist to translate the data coming through a standard telephone so that it is usable by VoIP programs, so old hardware can have a second life. While it is true that IP phones deliver a unified communication experience that old phones cannot match, including telephone directory integration, converters can make the transition to IP more gradual and affordable.