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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.

January 14, 2013

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

 

General News

* Parker CCU Converts to Share One’s NewSolutions
* TEG FCU Signs with Connect Financial Software
* Community Choice CU Chooses Hyland Software
* Corner Stone CU Partners with SIGNiX
 

Share One, a CUSO operating out of Memphis, TN and a leading developer of credit union core processing that serves a client base of credit unions with assets ranging from $10 million to $1.4 billion, announced that Parker Community Credit Union converted to their NewSolutions core processing system at the end of 2012. The $96 million, 11,174 member, Janesville, WI-based credit union also installed Share One's Internet banking solution.

Connect Financial Software Solutions announced a multi-year agreement with TEG Federal Credit Union. With more than 18,000 members and $185 million in assets, TEG selected Connect for its suite of Online Banking, Mobile, and PFM channel solutions.

Hyland Software announced that Community Choice Credit Union has contracted with them to implement their OnBase workflow and enterprise content management solution. The Johnston, IA-based credit union selected OnBase through partner Harland Financial Solutions.

Corner Stone Credit Union has signed with SIGNiX to implement the company’s digital signature system. The Dallas-based credit union will deploy the company’s MyDoX product, a standalone interface that enables users to upload documents, customize fields and immediately send documents out for signatures from any computer or mobile device that has an Internet connection.


Hardware News

Toshiba announced new high-security families of drives for enterprise users that use cryptographic technology to secure drives quickly against improper access. The PX02AMU and PX03ANU SATA multi-level cell SSDs can use ATA Enhanced Secure Cryptographic Erase (SCE) to delete data and range in capacities between 55 and 480GB. Organizations with larger storage needs can opt for the PXO2SMQ/U drives, which range from 200GB to 1.6TB of capacity.

The QNAP TS-EC1279U-RP rack-mount IP SAN and NAS features dual 10G Ethernet interfaces alongside 1G copper interfaces, redundant power supplies, and 36TB raw capacity with 3TB SATA drives. It interfaces with virtually every file sharing protocol, ties in with Microsoft Active Directory and LDAP for authentication, and supports VMware vSphere, Citrix XenServer, and Windows and Hyper-V failover clustering. Plus, it can handle real-time and block-level replication with encryption and compression. 

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

 

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Software Updates

Mosaic Loan Intelligence Platform is a loan repository and predictive modeling tool that enables credit unions to monitor risk, make proactive decisions and focus on growth and the earning potential of their portfolios. The Web-based software allows users to point and click to stratify portfolios, monitor reserves and apply forward-looking analytics. It also assists with risk-based pricing.

Pinkie is a handy suite of network troubleshooting tools packaged in a single user interface. It is designed to reduce the number of applications that Windows administrators have opened at a time for tasks such as pinging hosts, forward and reverse DNS lookups, traceroutes, subnet calculations, port scanning, and file serving. It supports both IPv4 and IPv6 addresses.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Diebold has introduced a new "millennial-inspired" machine that lets users make card-less transactions with their handsets. At last week's Consumer Electronics Show, they demoed their new "conceptual ATM interface," which borrows the touchscreen, navigation and controls familiar to smartphone owners. In action, pre-registered members scan a QR code on the ATM using their phones. When the devices sync via the cloud, a transaction screen appears on the handset where the member selects the withdrawal amount. The cloud server then sends a one-time code (which expires immediately after completing the transaction) to the phone, which the member enters on the ATM screen to authenticate the transaction and receive cash. Transaction receipts are delivered via text or e-mail. Advantages include: no lost or stolen cards, no skimming, and no opportunity for shoulder surfing of the user's PIN.

To have a member cash a check or get cash at the teller line costs a credit union between $3 - $7, by some estimates. That is why in-branch full function kiosks are appealing - they can reduce these costs by up to 75%. We will take a look at how some credit unions are experiencing success with kiosks in the February issue of Credit Union tech-talk - subscribe today.

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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:

 

Sharetec Systems, Inc.

and their client is:

Planites 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 new report from Juniper Research, more than 1 billion mobile phone users will have made use of their mobile devices for banking purposes by the end of 2017. That figure will represent around 15 percent of the total mobile phone user base. The report concludes that "while messaging remains highly popular and relevant in the financial sector, apps will be the dominant access mode in developed markets with banks reporting an increased number of visits per month on their mobile apps."

At last week's Consumer Electronics Show, mobile device maker Incipio unveiled a product called Cashwrap that is an NFC-enabled iPhone case, and specifically works with the Isis mobile wallet service. Meanwhile, US Bank unveiled their Go Mobile service which also uses NFC-enabled iPhone cases. The case allows users to make payments at participating retailers that accept Visa payWave. The case also has an extra battery extending the phone’s charge time by more than 50 percent. The bank is partnering with Visa, mobile contactless technology company DeviceFidelity, and Datacard Group on this initiative.

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Security Section

The Financial Services - Information Sharing and Analysis Center (FS-ISAC) has released their fourth Commercial Account Takeover Survey. The bad news is the attacks continue unabated, but the good news is that 65% of account takeovers in the first half of 2012 did not involve monetary transactions, while 53% did move money in 2011. In an effort to prevent account takeovers, the FS-ISAC recommends these steps:

- member education

- temporarily shutting down affected online member’s access

- manual review of ACH/wire transactions above a certain dollar amount

- analysis of member login characteristics/patterns

When it comes to reminding employees of the rules and policies governing their use of the credit union's computing infrastructure, some credit unions utilize pop-up banners. It is a good policy move and it also serves to add a degree of legal protection by noting that employees have limited rights to privacy when using credit union computers and networks. Some security experts argue that credit unions must go beyond the simple pop-up that the employee acknowledges each time they turn on a credit union-owned computer or log into your VPN. We will discuss some best practices for these messages in the February issue of Credit Union tech-talk - subscribe now.

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Security Section Sponsored by
THE FINANCIAL & SECURITY PRODUCTS ASSOCIATION (FSPA)

We are the only trade association in the independent financial equipment and services industry, entering our 40th year of existence. Our 255 company members are located throughout the United States & Canada and are manufacturers, dealers, installers & servicers of all types of financial security equipment such as: ATMs, cash recyclers, safes, vaults & physical security equipment, drive-up banking systems, undercounter steel equipment and the entire spectrum of electronic security & digital video systems.

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

Security:

Online, Mobile, Network & Physical – Securing the Spectrum

BrandProtect
BrandProtect - http://www.brandprotect.com
Read Michael Kiefer's comments:
https://www.cunews.com/BrandProtect.pdf

 
CloudAccess
CloudAccess - http://www.cloudaccess.com
Read Kevin Nikkhoor's comments:
https://www.cunews.com/CloudAccess.pdf

 
GreyCastle
GreyCastle Security - http://www.greycastlesecurity.com
Read Reg Harnish's comments:
https://www.cunews.com/GreyCastle.pdf
 
GuardianAnalytics
Guardian Analytics - http://www.guardiananalytics.com
Read Terry Austin's comments:
https://www.cunews.com/Guardian.pdf
 
Harland Financial Solutions
Harland Financial Solutions - http://www.harlandfinancialsolutions.com
Read Tom Berdan's comments:
https://www.cunews.com/HFS.pdf

Horsetail
Horsetail Technologies - http://www.horsetailtech.com
Read Chris Sachse's comments:
https://www.cunews.com/Horsetail.pdf
 
IMM
 
Integrated Media Management - http://www.immonline.com  
Read Nish Shah's comments:

MokaFive
MokaFive - http://www.mokafive.com
Read Purnima Padmanabhan's comments:
https://www.cunews.com/MokaFive.pdf

MVi
Millennial Vision - http://www.mviusa.com
Read Scott Cowan's comments:
https://www.cunews.com/MVi.pdf

Network Box
 
Network Box - http://www.networkboxusa.com  
Read Pierluigi Stella's comments:

Onbase
Hyland Software - http://www.onbase.com
Read Steve Comer's comments:
https://www.cunews.com/Hyland.pdf

Ongoing Operations
 
Ongoing Operations - http://www.ongoingoperations.com  
Read Kirk Drake's comments:  
https://www.cunews.com/OGO.pdf

Q2ebanking
Q2ebanking - http://www.q2ebanking.com
Read Jay McLaughlin's comments:
https://www.cunews.com/Q2ebanking.pdf

Rallypoint
Rallypoint Solutions - http://www.rallypoint.us.com
Read Kris Zupan's comments:
https://www.cunews.com/Rallypoint.pdf

SCA
Security Compliance Associates - http://www.scasecurity.com
Read Jim Brahm's comments:
https://www.cunews.com/SCA.pdf

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Technology and Marketing

Equifax's IXI Services has launched AudienceIntel which is an online advertising measurement tool that enables advertisers to better evaluate who is actually viewing and responding to their ads. They claim that they can measure audiences by estimated financial measures such as wealth, income and spending, which then allows advertisers to verify if the audience receiving an ad is a match for a brand and offer. AudienceIntel said its capabilities also extend to an advertiser’s own site, and that its software does not incorporate or reveal any personally identifiable information.

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Online Banking/E-Commerce/Website Design

Fiserv has selected Aconite's Smart EMV Manager solution to enhance its EMV card processing systems. Aconite's Smart EMV Manager is one component of Aconite's chip and mobile software solutions that encompasses chip card and token lifecycle management, NFC Mobile management and advanced PIN management.

The Aite Group says that while credit unions recognize an opportunity to court small businesses as the availability of loans from large banks continues to wane, it will take more than the promise of loans to win small businesses. The research group states that small businesses increasingly demand robust online and mobile tools, and not all credit unions are prepared to meet that demand. Their statistics show that credit unions have just 6% of the small business banking market, and that just 15% of credit unions plan on investing 10% more in mobile technology for small businesses in 2013 versus 2012. Meanwhile, about 19% of credit unions plan on an increase of up to 10%, while 35% plan no budget changes in 2013.

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Internet Access

Unfortunately, distributed denial-of-service (DDoS) attacks can be launched by anyone with a motivation and a few dollars. There is even "DDoS as a service" where organized groups will perform a denial of service against any target website for a fee - the cost depends on the strength and duration of the desired attack. The best protection against DDoS attacks is a purpose-built device or service that scrutinizes inbound traffic before it can hit your firewall or other components of the IT infrastructure. Security experts recommend that if your anti-DDoS solution has the feature, restrict transactions that originate in locations where you don't typically do business. Finally, if your credit union experiences a DDoS attack, it is highly advisable to do a very thorough inspection of all system logs to determine if other malicious activities took place during the attack period since many security experts believe that DDoS attacks are smokescreens to hide other cybercrimes, including data breaches or financial fraud.

Telecommuting offers numerous benefits for credit unions and their employees, yet it can be challenging for supervisors to manage home-based employees. We will offer some personnel and technical tips for handling telecommuters in the February issue of Credit Union tech-talk - subscribe today.

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Call Centers

NICE, an analytics software provider, is rolling out its first system for fighting call center fraud. In action, the solution uses voice recognition with real time analytics to match the voice print of the caller to a list of known fraudsters, plus it flags suspicious transactions made in the call center for further investigation. No agent interaction is required - it runs behind the scenes as call center agents answer calls.

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Conferences

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

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