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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 30, 2013

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

 

General News

 

* 1st United Services CU Selects Better Branches
* Denver Community CU Converting to CUProdigy Core
* CU*Answers Welcomes its Newest Owner
* Share One Signs SageLink CU

Better Branches Technology, a provider of branch visitor queuing and workforce management software for credit unions, announced that 1st United Services Credit Union has adopted their industry leading Better Lobby/Teller and Staff Scheduler & Optimizer modules. These Better Lobby modules will help the $800M+ asset Pleasanton, CA-based credit union improve member service quality, optimize branch performance, streamline staff scheduling and control expenses.

Denver Community Credit Union, a $252 million credit union, has purchased ownership in Credit Union Data Processing (CUDP), a CUSO core software provider. DCCU will be converting to the CUProdigy core system in 2014. The announcement comes on the heels of CUDP’s rewrite of the CUProdigy core software platform.

CU*Answers, the Grand Rapids, MI-based cooperative CUSO, announced that it had recently added another new credit union owner: Chiropractic Federal Credit Union located in Farmington, MI ($25M assets and 2,700 members). Additionally, CU*Answers stated for its recently completed 2013 fiscal, it was projected to provide a Return on In comprised of dividends and interest paid exceeding $1.75 million to its existing Owners.

SageLink Credit Union of Durand, Michigan has selected Share One’s NewSolutions core system. SageLink Credit Union represents the Memphis-based CUSO's first credit union in the Michigan marketplace to utilize their hosted delivery method.

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Credit Union InfoSecurity Conference 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

Hewlett-Packard announced their t620 thin client which they say is the first quad-core processor fan-less design of its kind. The t620 includes HP Remote Graphics Software and has an integrated Fiber NIC and Ethernet port. By adding an optional factory installed video card, the HP t260 can manage up to four displays and can power two 30-inch diagonal 2,560 x 1,600 displays in its standard configuration.

MultiDimension Technology is a supplier of magnetic sensors featuring tunneling magnetoresistance technology (TMR). The Chinese vendor claims that they have developed the world's first TMR magnetic sensors for detecting magnetic properties on banknotes in financial anti-counterfeit appliances — including banknote validators, banknote counters and sorters, and magnetic card readers. They say that their TMR technology is fully capable of high-resolution magnetic image retrieval to meet the stringent requirements of the next-generation financial anti-counterfeit appliances. 

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

 

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Software Updates

Netwrix announced the availability of Netwrix Password Manager as a completely free offering to businesses with up to 100 users. In action, users can reset passwords and unlock their own accounts after successfully answering identity verification questions. Users can reset their passwords directly from a Windows logon or through a web browser.

Research firm Gartner believes the UNIX operating system is on a path to insignificance. They believe that the obvious replacements to HP-UX, Solaris, AIX and other Unix variants are Linux, Windows and mainframe operating systems. Other more futuristic options include: the OpenStack cloud computing platform, the Hadoop big data framework, and emerging cloud operating systems. According to IDC, worldwide Unix revenue in 2012 was $8.5 billion, or 22.8% less than the year earlier total of $11.1 billion.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Windows XP support ends on April 8, 2014 and many ATMs will not be converted by then. Security experts recommend that if the machines are not converted then ATM deployers should make sure that their machines are locked down as tightly as possible. Some are also suggesting that ATM deployers purchase a Microsoft custom support agreement (CSA) to cover their ATMs and legacy PCs, but that does not appear very feasible considering that Microsoft CSAs can run hundreds of thousands of dollars per year.

About 20 percent of all consumer spending in the U.S. is done with cash, but it is an expensive habit: using cash costs Americans approximately $200 billion per year. According to a new study by the Fletcher School at Tufts University, here are some real and opportunity cash costs:

- theft costs businesses $40 billion and individuals $500 million annually

- out-of-network and foreign ATM fees amount to $8 billion

- the average American spends 28 minutes per month traveling to and from getting cash

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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:

 

L9

and their client is:

New England 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

Allied Payment Network has partnered with ACI Worldwide to offer same-day bill payment capabilities through Allied's mobile photo bill pay solution, Picture Pay. By integrating with the ACI Bill Payment Engine, Picture Pay's end users now have the added convenience of a same-day payment option to immediately process a bill payment to more than 9,000 electronic biller endpoints.

Mobile device management tools are necessary when you are trying to control who can access your network and applications from particular phones and tablets. Pricing varies from approximately $20 to $75 per user or per device per year, depending on the vendor. Here are six MD vendors to consider: AirWatch, Apperian EASE, BlackBerry Enterprise Server 10, Divide, Fixmo, and Good Technology's Good for Enterprise.

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Security Section

SolarWinds announced enhancements to several of its security management solutions, including SolarWinds Log & Event Manager, SolarWinds Firewall Security Manager and SolarWinds Patch Manager. The Log & Event Manager now provides additional automatic scheduling, distribution and notification of security and network activity. The latest version of SolarWinds Firewall Security Manager allows administrators to quickly identify high-risk firewalls, recent and upcoming configuration changes and firewall compliance status. Finally, Patch Manager has been enhanced with step-by-step wizards.

The iboss Secure Web Gateway helps secure Internet traffic including web filtering, SSL access, applications, bandwidth throttling/QoS, on/off-premise and mobile security. Starting price for the iboss Web Security suite is $1,295/yr for the cloud solution and $795/yr, plus a one time $1,995 hardware fee for on the premise solution.

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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

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

Some social media advocates say that social media can provide a cost effective way to market loans to members, especially younger members. In addition to sharing information about specific lending products, credit unions can use social media to offer updates to interest rates and to provide information about what documents members need to fill out to complete a loan application. However according to a recent survey by Accenture Credit Services, most consumers are less interested in actually doing transactions, especially ones as complex as loans, through social media. Their survey discovered that 74% of respondents wanted to keep their financial activities separate from their social networks, but preferred to use social media to gather information.

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Online Banking/E-Commerce/Website Design

Infosys recently released a report on innovation and gamification in banking and they found that the US lags behind other areas of the world in adding gaming to their online and mobile offerings. Those FIs that were moving forward with gamification projects indicated that they were motivated by the perceived threat of new non-bank entities entering the market, especially telcos and technology giants such as Google, Amazon and Apple. Proponents contend that credit unions can use gamification to spread awareness and financial education to their members, as well as using it as a member acquisition and retention tool.

Result150 is an online media company focused on advanced marketing solutions for credit unions. The new Minneapolis-based CUSO offers an online media network, intelligent targeting technology and online marketing programs. The CUSO says that their proprietary technology enables credit unions to target and reach consumers at key financial life triggers, while industry-specific online marketing programs are tailored to help local marketing teams connect with members and potential members.

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Online Banking Section Sponsored by
Cachet Financial Solutions

 

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Internet Access

In order for VoIP to work well, it is critical that your ISP has the right infrastructure to deliver VoIP without bottlenecks. That is why it is important to perform extensive due diligence on your VoIP provider and try to make sure that they have the technical foundation in place for good quality calls. VoIP plans from various providers can be difficult to compare and to vet, so many telecom experts recommend choosing a well established VoIP provider with a good reputation within the industry.

Smaller credit unions may want to consider Citrix's new slimmed-down version of its GoToMeeting online meeting and video conferencing product dubbed GoToMeeting Essentials. The solution allows for one presenter and five attendees in a session and costs $19 per month, or $182 per year, for unlimited usage.

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Call Centers

Contact center reports are key methods for keeping senior managers informed about the center's activities. The first step is to establish what senior managers in other departments outside of the contact center need to know. Senior Advisors at the ICMI (International Customer Management Institute) have detailed these general areas of concern:

- Caller satisfaction and sentiment analysis

- Quality measurements

- Contributions to other business units

- Access alternatives and workload trends

- General costs

- Service level, abandonment numbers, wait times

- Scheduling needs and issues

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