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

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December 2, 2013

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


General News



* DuPont Community CU Selects Symitar
* Mutual CU Chooses Horsetail Technologies
* Sharetec Provides SSAE16 at No Charge
* CU*Answers Converts Minnesota CU

Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced that its Symitar division has signed DuPont Community Credit Union to its Episys core processing solution system. The $890 million Virginia-based credit union will use the new system in-house.

Horsetail Technologies, a Baltimore-based IT Solutions firm, announced that it will be implementing a new virtual server environment complete with backup and disaster recovery for Mutual Credit Union. The credit union’s security will also be improved by the addition of a managed firewall solution.

Sharetec System announced that there will be no charge to Sharetec core credit unions for the SSAE16 this year. The long time core systems provider also announced that they will do the same for their credit unions next year as well.

CU*Answers, the West Michigan-based core data processing Cooperative, announced that it had recently completed converting Lake State Credit Union (Moose Lake, MN) to its CU*BASE processing platform. The $185M asset credit union has also implemented an in-house CU*Answers Electronic Document solution, including e-receipts, photo ID capture, loan, membership forms, statements, CU*BASE reports and more.




Hardware News

WTI’s NPS-3F15 network power switch provides critical network installations with remote power control and reboot. Simply connect the power cable of your switches, routers, firewalls or any other network device directly to the power outlets of the NPS and the devices are ready for complete remote power on, off or reboot. In addition to performing on-demand reboots and power switching, the NPS-3F15-1 also includes an assortment of administrator-defined alarm features, which can be used to automatically reboot or switch outlets when high rack temperatures, open circuit breakers, power supply irregularities, unresponsive network elements and other important events and factors are detected.

Purchasing coin counting machines is only one option for credit unions looking to add the machines to their branches. Credit unions can also lease or rent the machines to help preserve capital. Another option is placement by a service provider who places and manages the coin counter free of charge. Some observers believe that coin counters are important member loyalty items and point to surveys that show that approximately 80 percent of American households actively save loose change and look to their financial institution to count these saved coins. 


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


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Software Updates

Some organizations that are looking to streamline the time that managers and staff spend entering hours into various tracking spreadsheets are turning to specialized time tracking applications. Replicon offers a cloud-based solution that includes the following modules:


 - TimeCost (for tracking time against specific projects or clients)


 - TimeAttend (for tracking both salaried and hourly employees)


 - TimeBill (for streamlining expense reporting)


 - CloudClock (for scheduling)


 - WebExpense (for project costing)


Invincea says that their FreeSpace for Small Business system protects their clients from targeted and unknown malware. Invincea moves Web browsers, PDF readers and Office apps into secure virtual containers outfitted with advanced behavioral sensors for malware detection and zero-day exploits. It supports Windows XP and Windows 7 32-bit and 64-bit machines, and major browsers (IE, FireFox, and Chrome), Adobe PDF and the Office Suite.


Software Updates Sponsored by
Raddon Financial Group (RFG)

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The "ATM with Teller Assist" machines are being tested by Bank of America at 61 locations across the country. However in New York City the machines that permit you to talk via video connection to a teller at a U.S.-based call center are meeting with some resistance from BofA tellers and a community labor coalition. They contend that the new machines threaten teller jobs, but a BofA spokesperson denies that the ATMs with video tellers are going to eradicate the classic teller.

Stanley Security has updated their Sargent & Greenleaf A-Series ATM access management system. The A-Series ATM locking system manages multi-vendor access to the ATM using time-limited single-use codes and electronic keys. There are new firmware, security and software improvements, as well as an Android mobile app that is designed to be used by field technicians for troubleshooting by reading and programming keys.


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:


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!


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Wireless World

According to a recent report from Javelin Strategy & Research, over 12.5 million Americans are currently using mobile bill pay. Javelin estimates Americans pay $2.1 trillion annually to pay seven critical bills:

- major credit cards

- store-branded credit cards

- utility bills

- mobile phone bills

- mortgages

- vehicle loans

- student loans

The research firm also estimates that more than 140 million Americans are potential mobile bill payers, with one-third representing new users of bill payments.

EyeVerify offers EyePrint Verification, a biometric security system for mobile devices. Eyeprint Verification delivers a password-free mobile experience and secure authentication at a glance. This patented solution uses existing cameras on smartphones to image and pattern match the blood vessels in the whites of the eye.


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Security Section

Voice biometrics proponents say that the technology has the potential to greatly improve speed, ease of use and security for members. There are over 100 identifiable elements in a digital voiceprint – even identical twins can be told apart. Wealth, the private banking division of Barclays, is the first financial services firm to deploy voice biometrics as the primary means to authenticate customers in their call centers. Meanwhile ANZ is experimenting with the use of voice biometrics for securing customer interactions at the call center and for authorization of larger-value cash transactions via mobile phones.

According to Dell SecureWorks, the price of pilfered personal information is plunging. They point to these examples:

- Credit card numbers from $3 - $10

- username/password log in to a bank account for a few hundred dollars

- Full Personal Identifiable Information (PII) identity theft dossier (AKA a Fullz) for a mere $25


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.

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Leaders Roundtable

Core Systems:

Driving More Efficiency From Core Systems

Celent -
Read Stephen Greer's comments:

Corelation -
Read Theresa Benavidez's comments:


Credit Union Data Processing (CUDP) -
Read Charlie Fulks' comments:

CUtopia -
Read John Pantaleon's comments:

Enhanced Software Products -
Read Matt Lefler's comments:

Fiserv -
Read Mark Sievewright's comments:

Harland Financial Solutions -
Read Tom Berdan's comments:

Innovative Technology (INTECH) -
Read Tim Erwin's comments:

Mercator Advisory Group  -
Read Edward O'Brien's comments:


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Technology and Marketing

A new survey by Oracle entitled “Global Insights on Succeeding in the Customer Experience Era” contends that financial institutions are not succeeding at creating a positive customer experience. The executives surveyed said that their organizations are unable to capitalize on an additional 18% of revenue, on average, by not offering a positive, consistent, and engaging customer experience. Cited obstacles to the improvement of customer engagement include technology limitations and lack of a 360 degree customer view across all touch points. In response, nearly a third of the financial services organizations indicated that they plan to soon invest in analytical tools to better understand customer behavior.


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Online Banking/E-Commerce/Website Design

Finovera has officially launched its new billing/PFM portal. The free platform aggregates consumers' bill payments from thousands of billers, provides users with a view of trends and analytics from their accounts, and alerts users when bills are higher than average. Some of the features include:

  • Track payments
  • Set payment reminders
  • View metrics from up to 12 months of historical data
BehavioSec has introduced BehavioWeb which offers the continuous verification of end-users for Online and Mobile services. Using behavioral biometrics, the system monitors and analyzes behavior based on the interactions with a ‘connected device’ to help create trustworthy communications. They say that their system takes into the fact that each person has their unique behavior when interacting with a Web page through their computer and Smart Phone user interface. The software does not require user agent installation or any modification of normal work flow.



Online Banking Section Sponsored by
Cachet Financial Solutions


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Internet Access

The Federal Communications Commission announced a series of experiments to determine how to roll out a new IP-based phone system in place of landline phones. IP-based landlines can handle large amounts of data, and support features like video calling and conferencing.

Qualys says that their Qualys BrowserCheck online tool has discovered that 39% of the tested machines have critical vulnerabilities. Their data shows that even the most popular browser in their database, Chrome, has close to 40% of its instances afflicted with a critical vulnerability. Similar numbers apply to Firefox and Internet Explorer, which are less than 5% behind in popularity, but both have 35% and 41% of their instances vulnerable to attacks. The security firm notes that a large part of the problems are contributed by the plug-ins that people use to extend the capabilities of their browsers, led by Adobe Shockwave and followed by Oracle Java and Apple Quicktime.


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Call Centers

Cloud-based solutions provider NewVoiceMedia claims to have recently setup a contact center in 20 minutes. Their experienced technicians say that they were able to set up a contact center from scratch in record time, including a full telephony infrastructure with call flow, ACD, WebRTC delivery and intelligent routing capabilities. They state that they can essentially turn any computer into a fully functional contact center seat in a matter of minutes.