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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.

December 16, 2013

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

 

General News

 

* Bradford-Scott Celebrates 30 Years
* Connect Financial Software Joins Symitar VIP Program
* CU*Answers Signs Start-up Credit Union
* CUNA Strategic Services Partners with Silanis

Bradford-Scott Data Corporation, an owner/distributor of the Sharetec System, one of the fastest growing core systems, is celebrating their 30th anniversary. Over the years, Bradford-Scott has helped the Sharetec System grow to nearly 300 credit unions nationwide.

Connect Financial Software Solutions announced that it has joined the Symitar Vendor Integration Program (VIP). Participation in the program will enable Connect’s Online and Mobile Banking and Account Opening solutions to integrate with Symitar’s core processing system, Episys.

Core data processing CUSO, CU*Answers, announced the signing of the newly formed Northern Eagle Federal Credit Union (Minnesota) to a CU*BASE agreement. The credit union is taking advantage of the CUSO’s “Starting A Credit Union With CU*Answers” program, which provides free CU*BASE data processing services to new credit unions for an initial two year period.

CUNA Strategic Services has chosen Silanis Technology as its exclusive electronic signature provider for U.S. credit unions. The two groups said that electronic signatures can help credit unions expedite new member on-boarding and loan processing for members while ensuring business rules and compliance standards are being met.

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Credit Union InfoSecurityConference Sponsored by
imsmartin consulting

The 12th annual CU InfoSecurity Conference will be held May 21 - 23, 2014 at the Red Rock Resort 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 virtual tour of The Partnership FCU and a Case Study of First Tech FCU.

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:

 

* Phishing 2.0 Exploits
* Anti-money Laundering
* DDoS Mitigation Strategies
* Advanced Log Management
* Effectively Using Data Feeds
* Owning Credit Union Networks
* Tuning Your Fight Against Fraud
* New Ways to Eliminate Malware
* Credit Union Virtual Security Tour
* Cyber Criminal Intelligence Programs
* Legal versus Enforceable eSignatures
* Building a Secure E-mail Infrastructure
* Next Generation Authentication Techniques
* Successful Security Awareness Training Programs

Click Here for information, agenda, reservations & more.

Mention this ad and get a $100 discount!


Hardware News

About 35% of Americans own tablet computers, up from 25% last year, according to research from the Pew Internet Project. Tablet owners tend to be upscale and educated: more than half of tablet owners were in households earning more than $75,000 per year.

Hewlett-Packard's newest PCs, the new EliteDesk 800 G1 and ProDesk 600 G1, are its smallest business desktops yet. The mini desktops, which weigh around 95 grams, can be easily held in one hand and offer the performance of normal desktops. A customized HP motherboard with an Intel Q87 chipset, wireless capabilities and a slot for solid-state drives are built in. HP already offers small form-factor desktops, but they are not as small as these mini-PCs. 

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HardwareSection Sponsored by
Millennial Vision, Inc. (MVi)

 

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Software Updates

Dell Software has introduced a suite of software and services for mobility management, including a "secure workspace" for mobile devices that lets IT managers separate work from data apps. In terms of providing security and provisioning across a wide variety of mobile devices, Dell faces competition from many vendors such as AirWatch, Aruba Networks, Cellrox, Citrix, Enterproid, Fixmo, MobileSpaces, OpenPeak, Red Bend, Samsung and VMware. But Dell’s strategy is larger in that it encompasses not just management of devices such as Apple iOS, Google Android and Windows Pro tablets, but also Macs, Windows-based PCs, Linux PCs as well as thin clients. Their workspace container can control email, calendar, contacts, secure mobile browser and local file explorer.

FSecure has launched KEY which is a secure password manager. The software safely stores your passwords, user names and other credentials so that you can access them wherever you are via one master password. When you use online services that require a password to log in, F-Secure Key automatically fills in the user name and password fields.

 

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Software UpdatesSponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Diebold 429 ATMs are capable of running on three possible power sources - solar, regular AC power, and internal battery - as circumstances dictate. The machines are designed to operate in environments with inconsistent power availability. India's Bank of Baroda is deploying 2100 of the ATMs.

As video teller devices become more popular, many video teller proponents believe that they require a strategy that begins by treating them as tellers, not ATMs. Video teller capability appeals to full-service minded members or those who need to complete more complex transactions, not those ATM users carrying out basic transactions. Video teller deployments will require taking a close look at numerous variables such as service hours, teller training, device placement, currency and coin needs, transaction offerings, etc.

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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:

 

TFactor

and their client is:

Orange County’s Credit Union

Credit Unions - if you have a vendor that you are happy with then pleaseThis 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 pleaseThis 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

Security firm Praetoria says that their research shows that most mobile banking apps contain configuration and design weaknesses that leave them with weakened security. Overall, they found that eight out of 10 apps were improperly configured and not built using best practices software development. The good news is that the security weaknesses in the mobile banking apps are not pure software vulnerabilities, so they are relatively low-risk issues. The weaknesses the researchers tested for are well-known mitigation functions in software, and the tests were performed on the local device's mobile app, not back-end Web servers and services.

Small business mobile banking is relatively new and remains under-developed. As mobile adoption and usage by the small businesses accelerates, many analysts believe that credit unions will have to ramp up their mobile banking offerings for small businesses. Some important components to consider offering include Remote Deposit Capture, Voice Authentication, Voice Recognition and Mobile Photo Bill Pay. One analyst firm, ath Power Consulting, also recommends adding tools for checking the credit worthiness of customers; accepting credit cards; and paying business taxes.

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Security Section

The FFIEC just issued a supervisory guidance for financial institutions about risks involved with the use of social media. However, they did not issue any new requirements, but noted that their guidance was issued to help financial institutions understand the applicability of existing requirements and supervisory expectations related to social media use. The regulators also said the requirements of the Equal Credit Opportunity Act, Regulation B, the Fair Housing Act, Truth in Lending Act and the Real Estate Settlement Procedures Act apply in situations involving social media.

Zwipe, an authentication solutions company, has launched a biometric access card with fingerprint touch sensors from Fingerprint Cards, a biometric components provider. Fingerprint data is stored on the card itself, and the card is ISO 14443 compliant. Fingerprint Cards also offers an infrastructure solution for online authentication using fingerprint sensors on smartphones and tablets.

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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, pleaseThis 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

Core Systems:

Driving More Efficiency From Core Systems

Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

 
Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

 

Credit Union Data Processing (CUDP) - https://www.cuprodigy.com
Read Charlie Fulks' comments:
https://www.cunews.com/CUprodigy.pdf

 
CUtopia - http://www.cutopiasolutions.com
Read John Pantaleon's comments:    
https://www.cunews.com/CUtopia.pdf

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

 
Fiserv - http://www.creditunions.fiserv.com
Read Mark Sievewright's comments:    
https://www.cunews.com/Fiserv.pdf

Harland Financial Solutions - https://www.harlandfinancialsolutions.com
Read Tom Berdan's comments:
https://www.cunews.com/HFS.pdf

 
Innovative Technology (INTECH) - http://www.intech-inc.com
Read Tim Erwin's comments:
https://www.cunews.com/INTECH.pdf

 
Mercator Advisory Group  -https://www.mercatoradvisorygroup.com
Read Edward O'Brien's comments:    
http://www.cunews.com/Mercator.pdf



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Technology and Marketing

Digital gift cards are growing in popularity and some observers think that credit unions should offer them. That is because the credit union is a trusted source and it should be quick and easy to purchase the digital cards from inside of online or mobile banking platforms. It is also possible to offer a mix of physical and digital prepaid/reloadable cards. Finally it is possible to get a program up and running fairly quickly by partnering with third parties such as the Blackhawk Network, CardLab and others.

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Online Banking/E-Commerce/Website Design

Two factor authentication which involves sending an SMS message with a code that is entered into a Web-based form is becoming increasingly ineffective, according to NSS Labs. They believe that SMS-based authentication intended to protect access to online accounts has been thoroughly compromised by multiple mobile malware suites that work in tandem with desktop malware to defeat these one-time passcodes.

The Debit Network Alliance was recently created to help facilitate the adoption of an interoperable EMV standard for debit payments in the U.S. It is composed of these PIN debit networks: AFFN, ATH, Co-op Financial Services, NETS, NYCE, Presto, Pulse, Shazam, and Star.

In a related story, Mercator Advisory Group says that debit card penetration in the United States declined over the past two years from a high of 68% in 2011 to a new low of 59% in 2013. Their 2013 CustomerMonitor Survey Series attributes this trend to the fact that more consumers are now using prepaid cards and nontraditional payment forms. They also note that debit card penetration of households that earn less than $75,000 a year is also declining faster than average.

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Online Banking Section Sponsored by
Cachet Financial Solutions

 

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Internet Access

Silver Peak has rolled out a new feature called Dynamic Path Control, which is part of the company’s Virtual Acceleration Open Architecture. Dynamic Path Control adds real-time network intelligence to move applications onto the fastest, least congested link. This feature can be particularly useful to real-time applications, such as VoIP and video.

Toshiba has integrated its on-premises SIP Trunking I-VoIP service with its IPedge and Strata CIX business telephone systems to deliver a single-vendor telephony solution. Toshiba’s I-VoIP service is a SIP trunking service that provides advanced IP features, such as working across locations, using bandwidth more efficiently than ISDN and helping reduce communication costs. The SIP Trunking I-VoIP service is available in the 48 continental states, and some of its plans include unlimited local and domestic long distance calling.

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Call Centers

The ICMI (International Customer Management Institute) recently polled their community about the top issues in their contact center. The single most important metric was Caller Satisfaction by an overwhelming 70%. Following behind at a distant second was First Call Resolution (FCR) with 14% of the vote.

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