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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.

July 29, 2013

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


General News


* First Connecticut CU Converts to FLEX
* IMM Introduces Latest Release of TotaleReceipts
* CUbroadcast Celebrates 200th Episode
* CU*Answers Rolls Out New IBM Server Platform

Computer Marketing Corp. announced that the $39 million, 9,800-member First Connecticut Credit Union in Wallingford, CT, has converted to their FLEX core processing system. Nearly 300 credit unions now use the FLEX platform.

IMM, a leading provider of eSignature, workflow and document solutions for credit unions, has introduced the most recent version of TotaleReceipts, which automates the creation of teller receipts. TotaleReceipts now generates electronic email receipts, supports a wider variety of scanners including Twain scanners, and includes improved integration with the various financial core systems.

Credit union online video talk show CUbroadcast celebrated its 200th episode by interviewing Filene’s Matt Davis and Currency Marketing’s Tim McAlpine. CUbroadcast is a web-based credit union talk show that started in November 2010. It is a collection of informative, online video interviews, posted twice a week, discussing today’s credit union issues and trends with industry innovators and ambassadors.

CU*Answers, a Grand Rapids, MI-based cooperative CUSO, announced that its technical team had completed a migration of its entire online user base to the latest IBM POWER server technology. The migration, which consisted of deploying both a new production server in their Grand Rapids data center and a high availability backup server in their Muskegon data center, was tested and completed over the period of several weeks without disrupting any production cycles.




Hardware News

Seagate Technology has introduced the Enterprise Turbo SSHD which it calls the world's first enterprise hybrid drive. The system combines a 3.5-inch, 600GB 15K drive with 32GB of flash cache. It costs just slightly more than a conventional 2.5-inch 15K drive and offers more than twice the speed.

A Premara Bank branch in Washington, DC has turned to robots for customer assistance. A robot named PremBot uses a monitor for a head. Employees can control PremBot remotely to do such things as interact with passersby or greet customers entering the branch. 


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


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Software Updates

Rapid7 has developed a free risk assessment tool dubbed RiskRater to help you understand your endpoint, user and mobile risk and security posture. Your answers to 18 questions will provide you with the Rapid Risk Rating, benchmarked against industry data gathered from over 600 organizations for mobile security, endpoint security and user based risk.

PsExec, a command line utility, effectively serves as the Windows equivalent of ssh on Linux. Not only are you able to issue commands remotely by IP address or hostname over a corporate intranet, you can also reset user passwords, specify which CPUs or cores should be used to operate a task, initiate remote file copies, and much more.

Some security experts say that you should focus your efforts on protecting the "Big 7" applications that are most commonly used by your employees. We will explain what they mean and how they suggest that these efforts will pay big dividends in the August issue of Credit Union tech-talk - subscribe today.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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Discover and surcharge-free network operator Allpoint Network, an affiliate of Cardtronics, have joined together in an agreement that will offer Discover card users fee-free access to Allpoint ATMs. Discover cardholders can look for the nearest surcharge-free ATM using their smartphone and either the Discover mobile app or a mobile browser.

Alaric, a provider of fraud prevention and payment processing solutions, recently published survey results showing that Americans are lax about PIN security. In fact, the poll found that respondents in the U.S. were more likely to share their PIN numbers than those in any other country surveyed. The Alaric study found that:

- Women were more likely than men to share their PIN, at 52 percent to 41 percent respectively.

- At 62 percent, those aged 25 - 34 were most likely to share their PIN.

- At 33 percent, those over 55 were least likely to share PIN information.


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:


Network Box USA

and their client is:

Air Force 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

Credit unions must start thinking about how they are going to adapt the account opening process to the mobile device now, not in the next few years according to a new report from Javelin Strategy and Research. Their study found that over 88 million Americans tried to open an account through the digital channels in the last 12 months, with about 20% of those being mobile applications. Two areas that will be key in providing a good mobile account opening experience are:

- auto-populating fields for existing members

- using the phone’s camera to take a picture of the applicant's driver’s license

Numerica Credit Union has come up with some creative ways to promote their mobile banking offerings. The Spokane, WA-based credit union has rolled out its Mobile Experience Booth, which utilizes integrated iPads and flat screen monitors to demonstrate the features of Numerica’s mobile app. They move the unit to various locations and offer a $5 check to use with their mobile remote deposit service.

3Rivers Federal Credit Union in Fort Wayne, IN, is the nation’s first credit union to launch Picture Pay, a mobile photo bill payment solution developed by Allied Payment Network and Malauzai. The $780 million credit union's members will now be able to pay bills by taking a picture with a mobile device, and entering the payment amount and due date.


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Security Section

Spear phishing continues to grow with no signs of abatement. Some security experts contend that the greatest obstacle all organizations face, when it comes to thwarting spear phishing, is changing user behavior. They believe that the two biggest problems are 1) employees continue to click on malicious links and 2) individuals reveal too much about themselves on social networks like Facebook and LinkedIn. While DMARC - Domain-based Message Authentication, Reporting and Conformance - has made it more difficult for fraudsters to craft phishing e-mails that look legitimate, education remains critical for stopping phishing attacks from succeeding.

Nuance says that their voice biometric solutions eliminate the need for passwords, PINs and security questions. They offer two options:

- FreeSpeech - This system verifies a caller's identity during the course of a natural conversation.

- Vocal Password - This system verifies a member’s identity during an interaction with a voice application, such as an IVR or a mobile app.


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

Online & Mobile Banking:

Moving from Transactions to Member-Centric Solutions

CU Answers
Cachet Financial Solutions -
Read Jeffrey C. Mack's comments:
CU Answers
Connect Financial Software Solutions -
Read Joe Long's comments:
eEminder -  
Read Thomas Utsch's comments:

Harland Financial Solutions
Harland Financial Solutions -
Read Andy Lapp's comments:
Integrated Media Management -  
Read John Levy's comments:

Javelin Strategy & Research -
Read Mark Schwanhausser's comments:

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

Q2ebanking -
Read Ned Tobey's comments:


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Technology and Marketing

Market Rates Insight states that their recent study shows that the principle of diminishing return applies to the bundling of financial services. The competitive research and analytics firm says that the recurring monthly fee consumers are willing to pay for a bundle of services starts to diminish after an average of about three combined services. They conclude that the incremental fee revenue generated beyond the optimal three services/products diminishes significantly.


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Online Banking/E-Commerce/Website Design

According to a survey commissioned by BillGuard, consumers paid $14.3 billion in unwanted card charges in 2012. It found that one in three American card holders is hit with these "gray charges" at an average of $215 per person per year. Services that offer a free trial and then convert you into a paid subscriber make up nearly half of all gray charge transactions.

Pocketbook is a free app that can be used to manage personal finances by providing a single view on spending. The developers say that by using their app you can:


  • See your financial transactions in one place
  • Stay on top of your bills
  • Minimize fees and late payment penalties
  • Keep track of your budgets and savings goals



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Internet Access

Business VoIP (voice over Internet protocol) services come in many flavors, but one popular option you see advertised is "from just $19.99 per month." What these ads mean is that the provider is actually offering Tiered Per user Pricing. In reality, these offers are often really only good for organizations with more than a set number of lines and if you don’t need that many, you will actually pay a higher price. Other providers fail to mention that premium features are not included, e.g., a business VoIP provider may offer an auto-attendant, but it will cost an additional $19.99 per month. There may also be extra fees for porting numbers, or you may discover that specific features you wanted in VoIP are not even be available from all vendors. Finally, it is important to recognize that different terminology is used for the same VoIP feature by different vendors, so education and research are critical when choosing a VoIP provider.

There are numerous reasons why VoIP phone system users can experience poor call quality. We will cover many of these issues and how to solve them in the August issue of Credit Union tech-talk - subscribe now.


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Call Centers

By some estimates, contact center employees spend approximately 25% of their time just verifying callers. Proponents of voice biometrics say that progressive call centers that implement voice biometrics will change that. They believe that the technology is mature enough right now to permit your contact center to proactively identify callers based on their voice characteristics, thereby offering efficiency gains, protection and convenience in one solution.


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Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk, at these upcoming conferences:

November 5 - 7, Denver - BAI Retail Delivery

May 21 - 23, Las Vegas - Credit Union InfoSecurity Conference

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