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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.

June 10, 2013

June 10, 2013 - June 14, 2013

 

 

 

 

 

March Networks is the No. 1 supplier of video surveillance systems to Financial Institutions in the Americas
800 563 5564

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

 

General News

 

* Tennessee Employees CU Implements SIGNiX
* Transportation FCU Chooses Horsetail Technologies
* Summit FCU Partners with Guardian Analytics
* PSCU Designates Phoenix Site as Primary Data Center
 

SIGNiX, a leading provider of verifiable cloud-based digital signature solutions, announced that Tennessee Employees Credit Union has signed with them to install their digital signature solution so members can sign documents from any device with an Internet connection. The Nashville-based credit union will use MyDoX, SIGNiX’s cloud-based digital signature product.

Horsetail Technologies, a National IT Services provider to credit unions, announced that Transportation Federal Credit Union has engaged with them to begin assessing and supporting their network with the rollout of Horsetail’s managed service program and Business Process and Technology Assessment. Transportation FCU has over 18,500 members, over $160 million in assets, 3 branches, and over 60 employees.

The Summit Federal Credit Union has implemented an automated transaction monitoring and anomaly detection solution from Guardian Analytics, a behavioral analytics fraud prevention software developer. By monitoring transactions, member behavior patterns, account activity and access to administrative functions, Guardian Analytics says that The Summit FCU can help spot anomalies, halt suspicious transfers and pinpoint security vulnerabilities.

PSCU announced the grand opening and dedication of its newly expanded Phoenix, AZ site as the company’s primary data center. The upgraded and enlarged facility will serve as the hub for the technology-based services the CUSO delivers to its nearly 700 Member-Owner credit unions and their members. PSCU’s St. Petersburg, FL headquarters will serve as the company’s back-up data center, providing hot site redundancy during business interruption events.

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Hardware News

Cisco just upgraded its best-selling Catalyst switch by doubling its stacked port density, stacking bandwidth, buffers and CPU performance. The new Catalyst 2960-X stackable Gigabit Ethernet switch builds on the foundation of the 3-year-old Catalyst 2960-S/SF. It is available in 24- or 48-port configurations, with 10G uplinks and a stacking capacity of 40G - 80G. The 2960-X costs $1,895 in a 24-port configuration and $3,395 in a 48-port model.

Dell is marketing their new PowerEdge VRTX as a “cloud in a box.” They say that it brings data center capabilities into the branch by combining storage, server and networking needs for branch offices into one chassis. The PowerEdge VRTX can reduce the number of cables connecting IT hardware in the branch by up to 86%, according to Dell. The single chassis can store up to 64 cores for processing power and offers up to 48 terabytes of storage.

Modern powerful servers can easily handle dozens, possibly hundreds, of virtual machines (VMs) depending on the workloads. However some experts contend that this scenario takes server consolidation too far and generates too much risk. We will take a look at this dilemma in the July issue of Credit Union tech-talk - subscribe today. 

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

 

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Software Updates

By some accounts, Windows 8 is the slowest-ever rollout of a mainstream Windows version. Now Windows 8.1 is coming as a free update to Windows 8 (and RT) that is akin to a combined service pack and feature pack. Windows 8.1 delivers major updates to the Metro features in Windows, and the return of the Start button to the desktop which allows users to boot to the desktop, as many with traditional PCs would want and expect. Proponents believe that 8.1's long list of new business features will turn the tide for many organizations that are skeptical about upgrading.

Zoho has launched Zoho Vault which is a secure online password manager for teams and businesses. It establishes a central repository for organizations that want to store, organize, manage and safely share their passwords and online credentials. Passwords are encrypted with AES-256, and the passphrase, which the user enters to access Zoho Vault, is used as an encryption key but is not stored anywhere on the Zoho Vault server or on the user’s computer or mobile device. Zoho Vault users will never be required to type or copy-and-paste passwords to login to websites or applications. Instead, users can launch direct connections to their websites and applications from the Zoho Vault interface, without viewing the password.

Graylog2 is a free and open source tool that analyzes system logs. You can use it to run analytics, alerting, monitoring and powerful searches over your whole log base. Graylog2 is licensed under the GNU General Public License v3 (GPLv3) and all source code can be browsed on GitHub. The web interface is using Ruby On Rails, while the server is written in Java.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Halo is the next-gen ATM from Nautilus Hyosung. The machine is named for the circle of light that surrounds the recessed pin pad and illuminates it with a constantly changing spectrum of colors. Some of its features include:

- 10-inch screen

- optional high gloss finish

- full EMV capability built in

- new digital receipt feature that allows the user to capture a QR code for the transaction and then display the receipt on a mobile device

- full backward compatibility with the NH-1800

The Merrimack ATM Group has been acquired by Cardtronics. Cardtronics, the world’s largest operator of ATMs with 70,800 retail ATMs in U.S. and international locations, will now add another 4,800 ATMs to their portfolio.

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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:

 

Millennial Vision Inc. (MVi)

and their client is:

Glendale Area Schools 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

Gartner has made a sharp downward revision of its five year projection for mobile payments based on near field communication (NFC) technology. Worldwide NFC payments volume will reach $22 billion by 2016, down 40% from the original forecast released a year ago, says the research firm. Missteps by Google’s Google Wallet and by Isis, a joint venture of the largest U.S. mobile carriers, is a big part of the NFC's shortcomings. For all forms of mobile payment, whether NFC-based or not, Gartner expects dollar volume in North America to reach $37 billion this year, up by more than half from 2012.

The University of Wisconsin Credit Union has developed a mobile remote deposit capture (RDC) without a native app. By many accounts, UWCU is the first FI in the world that allows smartphone users to deposit checks from the mobile web. They utilize new controls in mobile browsers (iOS and Android) to operate the mobile camera to capture paper checks.

Many credit unions are looking to outsource their mobile banking capabilities. We will cover some key points to consider when outsourcing mobile apps in the July issue of Credit Union tech-talk - subscribe now.

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Security Section

Unisys released its annual Security Index, which examines consumer concerns regarding security. When it comes to financial services security concerns, here are consumers' top 3 concerns:

1. Data Brach Fears - 66% of Americans are seriously concerned about a data breach involving their financial institutions.

2. Concerns About Cards - 52% of Americans are seriously concerned about other people obtaining and using their credit or debit card.

3. Online Banking, Commerce is Trusted - only 33% of U.S. consumers said they are seriously concerned about the security of shopping or banking online which is down from 39% who were seriously concerned in 2012.

According to new data from Javelin Strategy & Research, the linkage between breaches and fraud is becoming much stronger. Their research shows that the chances of a data breach victim becoming a fraud victim nearly doubled in just two years. Credit and debit card primary account numbers (PANs) and expiration dates remain primary targets, and have expanded so rapidly that they are now worth only $1 to $3 per credit card, as little as one-tenth their price five or six years ago.

It is common knowledge that there has been a serious upturn in denial-of-service (DoS) attacks lately against all types of organizations including credit unions. However, attackers are also moving "up-the-stack" to launch database DoS attacks. We will take a look at this disturbing trend in the July issue of Credit Union tech-talk - subscribe today.

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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

Online & Mobile Banking:

Moving from Transactions to Member-Centric Solutions

CU Answers
Cachet Financial Solutions - http://www.cachetfinancial.com
Read Jeffrey C. Mack's comments:
http://www.cunews.com/Cachet.pdf
CU Answers
Connect Financial Software Solutions - http://www.connectfss.com
Read Joe Long's comments:
http://www.cunews.com/Connect.pdf
 
 
eEminder - http://www.eeminder.com  
Read Thomas Utsch's comments:

Harland Financial Solutions
Harland Financial Solutions - http://www.harlandfinancialsolutions.com
Read Andy Lapp's comments:
http://www.cunews.com/HFS.pdf
  
 
Integrated Media Management - http://www.immonline.com  
Read John Levy's comments:

Onbase
Javelin Strategy & Research - http://www.javelinresearch.com
Read Mark Schwanhausser's comments:
http://www.cunews.com/Javelin.pdf

Mercator Advisory Group  - http://www.mercatoradvisorygroup.com
Read Edward O'Brien's comments:    
http://www.cunews.com/Mercator.pdf
 
SMA
PSCU - http://www.pscu.com
Read Jeremiah Lotz's comments:
http://www.cunews.com/PSCU.pdf

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Technology and Marketing

StrongMail announced new and enhanced mobile marketing capabilities that permit their clients to measure clicks and conversions across desktops, tablets, smartphones and other mobile devices in one single-view dashboard. The company claims that this represents an industry-first ability to analyze email engagement at the device level. They say that their drag-and-drop lifecycle marketing solution, combined with integrated support for geo-targeting and other advanced SMS marketing capabilities, puts marketers in a strong position to launch cross-channel campaigns or standalone SMS programs.

The CFI Group states that credit unions scored in excess of 80 points on a 100-point scale in their 2013 Credit Union Satisfaction Index. The analytic firm's survey found these 6 drivers of satisfaction:

- branch staff (93)

- online banking (92)

- information/communications (90)

- branch convenience (85)

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Online Banking/E-Commerce/Website Design

Mitek has released version 2.0 of its mobile photo bill pay solution. The update delivers analytics and business intelligence tools for credit unions to receive data on device type, operating system, number of photo attempts, and location (if the user has opted into geolocation services). One of the biggest improvements is MiSnap which is a click-free method of snapping photos of bills. The user simply steadies the camera with the bill in the viewfinder, and the software takes 30 images a second and chooses the best one. The package uses sophisticated algorithms to perform more than 1,000 calculations in order to determine the fitness of an image.

Research and consulting firm RBR believes that American card issuers should employ chip-and-PIN as soon as possible, rather than settle for the partial solution of chip-and-signature as some U.S. stakeholders advocate. They believe that a full migration to EMV will not only reduce fraud, but also offers these benefits:

- remote chip authentication

- contactless payments

- multi-payment cards (e.g., cards that support both debit and credit functions)

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Internet Access

Media5 Corporation has released the Mediatrix C7 Series of multi-function VoIP devices. The firm says that the units include Analog Adapter, Gateway and QoS control in a secure platform. The C7 Series support a wide variety of applications requiring connectivity between analog devices and trunk lines from the local carrier with IP networks. Security features include support for TLS, SRTP, certificates management, and HTTPS.

NewCloud Networks, a cloud and managed IT services provider, is rolling out new business VoIP service plans and pricing plans for VoIP phone systems for smaller organizations. The NewCloud VoIP network is comprised of a centrally located data center in the Denver Tech Center that is connected to 12 separate co-locations. NewCloud VoIP deployments enable about 150 telephony features that are managed in the cloud, and are based on Class 5 soft switches from Metaswitch Networks.

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Call Centers

Avaya announced a turnkey solution dubbed Outbound Contact Express designed to offer proactive consumer experience management supported by midsize contact centers with 25-250 agents. Avaya Outbound Contact Express uses call detection and patented predictive and preview dialing algorithms to bring more effective use of agent time and a lower cost per call to reach consumers. Other features include an administrative web client for defining campaigns, agent scripting, reporting and call recording to ensure quality and Avaya Speech Analytics.

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Conferences

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

July 14 - 17, Ottawa - World Credit Union Conference

November 5 - 7, Denver - BAI Retail Delivery

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