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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 17, 2013

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

 

General News

 

* Sharetec Selected by RiverWood-Maritime CU
* IMM Promotes and Supports National ESIGN Day
* Mountain America CU Pilots Pogo Merchants Payment Solution
* NARFE Premier FCU Partners with Horsetail Technologies
 

Bradford-Scott Data Corporation, an owner/distributor of the Sharetec System, announced that RiverWood-Maritime Credit Union in Two Rivers, WI has selected the Sharetec System as their new core system. The Sharetec core data processing system is utilized by more than 300 credit unions nationwide.

IMM, a provider of eSignature, workflow and document solutions for credit unions, is helping to create awareness of the National ESIGN Day alongside the Electronic Signature and Records Association and other organizations in support of e-commerce. Recognized and celebrated June 30, National ESIGN Day was established in 2010 to commemorate the 10th anniversary of the Electronic Signatures in Global and National Commerce (ESIGN) Act being signed.

First Data and Mountain America Credit Union are partnering to launch the company’s Pogo mobile payment solution for small businesses. Pogo enables credit, signature debit and cash acceptance anywhere in the U.S. where a merchant has wireless coverage by allowing a merchant to combine a web-enabled smart phone or tablet with a mobile application and secure mobile card reader to create a point-of-sale device.

NARFE Premier Federal Credit Union has completed a rollout of Horsetail Technologies’ Backup and Recovery Solution. As a result, the member-owned cooperative based in Alexandria, VA has implemented a low cost and effective way to perform both local and offsite backup while serving its more than 10,000 members nationwide.

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Hardware News

Hewlett-Packard has rolled out new Proliant servers aimed at small and mid-sized organizations looking to automate deployment and management as much as possible. HP's new Proliant MicroServer comes in two flavors, the HP ProLiant DL320e Gen8 v2 (starts at $899) and HP ProLiant ML310e Gen8 v2 (starts at $869). Both servers use Microsoft Windows Server 2012 Essentials to host data. HP adds provisioning, setup and maintenance software along with remote management and performance monitoring applications.

According to Pew Research Center, a third of American adults now own a tablet computer, double the number of a year ago. The survey found that 56% of households earning more than $75,000 have a tablet, making it the biggest category of device owners. Adults in the 35-44 age groups make up the biggest tablet-owning age group (49%).

Credit unions now have more options for offering their members self-service coin machines thanks to Cummins Allison. The company offers the ability to own, lease or rent the machines. They even offer a no investment option where they place the coin counter free of charge and manage the entire coin counting solution for the credit union. 

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

 

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Software Updates

IObit, a company that has been in the Windows security and system utilities business for some time, offers an anti-malware product called Malware Fighter. Smaller credit unions may opt for the free version, while others may prefer to pay $19.95 for the Pro version that includes priority support and more frequent background malware definition updates. However, if you are willing to keep tabs on the program manually, the free version is effectively just as good from a scan quality perspective.

BriteVerify is a Charlotte, NC-based company that offers a service that connects with email providers to verify email addresses and, importantly, filter out temporary domains. BriteVerify works with consumer, B2B and International email addresses. It can also verify any combination of name, email, postal address, phone number, and IP address with one API request. On-demand pricing starts at $0.01 per transaction with volume discounts.

Log analysis can be a tedious, but necessary, chore. Unfortunately it can also be costly. One company says that they can affordably automate the protective monitoring of network hosts, reducing the time needed to sift through millions of log files to identify potential threats, from hours to minutes. We will look at their solution in the July issue of Credit Union tech-talk - subscribe today.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

The ATM Industry Association (ATMIA) is looking for support for their U.S. Defense Fund. Donations will be used to cover the costs of monitoring proposed legislation and regulations on the state and federal level which could adversely affect the ATM industry. The non-profit trade group has developed a Top Five list of reasons they need support:

(1) U.S. EMV migration

(2) further reductions in interchange

(3) serial plaintiffs looking to capitalize on the recent Americans with Disability Act (ADA) regulations

(4) stopping patent trolls

(5) abolishing state laws still requiring dual ATM fee notifications

While the ATMIA 2013 Conference is naturally about ATMs, much of the focus this year was on mobile payments and integrating mobile devices with ATMs. We will tell you about some of the more interesting presentations from this year's show in the July issue of Credit Union tech-talk - subscribe now.

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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:

 

AnyHour Solutions

and their client is:

Guadalupe 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

Limited merchant acceptance and an inconsistent consumer experience are hampering the use of mobile wallets, according to a study that examined 20 prominent mobile wallet products conducted by Carlisle & Gallagher Group. The research firm defined a mobile wallet as "an app for a consumer’s smartphone or tablet that allows the consumer to organize an assortment of payment cards, coupons, loyalty credentials, vouchers and/or identification to facilitate financial transactions." Carlisle & Gallagher recommends that credit unions should not only be open to multiple mobile wallet partnerships, but actively work to improve their own ability to start and manage new relationships with the right companies.

Some observers think that mobile photo bill pay may make traditional online bill pay less "sticky." That is because with mobile photo bill pay members can add payees easily, and it makes transferring payees very simple. Proponents contend that the formerly tedious process of adding payees is much faster using the mobile camera.

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Security Section

While data breaches born of malicious attacks grab headlines, more data thefts are caused by employee negligence and "computer glitches," according to a recent report from Symantec and the Ponemon Institute. However, malicious attacks remain the single highest cause of breaches, with 37% of the intrusion pie. Yet, about two-thirds of data breaches in 2012 could be attributed to negligence or human error (35%) and system glitches (29%).

iVeriFly has rolled out an identity verification service aimed at identifying those who use a fake e-mail address to conduct an online transaction. In addition to addressing credit card fraud, the company says that their system will prevent identity thieves from applying for credit cards and loans in someone else's name, as iVeriFly subscribers will not accept credit applications unless the applicant's e-mail address is verified as belonging to the person whose name is on the application. iVeriFly is available as a subscription-based service.

Older Americans lose an estimated $2.9 billion annually to financial exploitation, and it’s estimated that for each case that is reported, 43 others go unrecognized. With 50 million older people in this country, and 10,000 more reaching retirement age every day, the Consumer Financial Protection Bureau (CFPB) felt that it was necessary to develop the "Money Smart for Older Adults – Prevent Financial Exploitation" program that trains-the-trainer to prevent common scams and teaches people to spot many types of elder financial exploitation. More information can be found here:

http://files.consumerfinance.gov/f/201306_cfpb_msoa-participant-guide.pdf

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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

Market Rates Insight has revealed the findings from their new consumer research and fee optimization study entitles “Growth and Revenue Potential for Emerging Financial Services.” The study revealed that consumers want bundles of banking services and are willing to pay from $8 to $12 per month for such services. Here are the 13 emerging financial services that are most valued by consumers:

1. Prepaid reloadable cards. 2. Online personalized couponing services. 3. Overdraft transfer services. 4. Person-to-person payments. 5. Mobile deposit service. 6. Credit score reporting service. 7. Identity theft alerts. 8. Mobile photo bill pay. 9. Location-based couponing service. 10. Eldercare Services related to aging and long-term care. 11. Payment protection products. 12. Same-day bill pay tied to a credit card. 13. Low-Balance Alerts.

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Online Banking/E-Commerce/Website Design

nProtect has introduced the nProtect Fraud Detection System (NFDS), to provide credit unions with a solution to help prevent online banking fraud. The newly launched NFDS will monitor and analyze online transactions for abnormal behaviors and help protect credit unions and users against web fraud. The NFDS solution collects information to create a pattern DNA for each online banking member and detects patterns and blocks the transactions.

To better assist members with online and mobile banking questions and issues, Mountain America Credit Union is placing a trained “technology champion” in each of its 76 branches. The technology champions also act as conduit for member feedback, allowing the Utah-based credit union to improve their online and mobile offerings.

It is critical for credit unions to work hard to streamline the online account opening process as much as possible. We will list some best practices that will help to make the online account opening process simple, yet effective in the July issue of Credit Union tech-talk - subscribe today.

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Internet Access

The Open Web Application Security Project (OWASP) monitors the state of web application security and annually issues an awareness document. OWASP just released its 2013 top 10 list of risks associated with the use of web applications, and they are:

1) Injection 2) Broken Authentication and Session Management 3) Cross-Site Scripting (XSS) 4) Insecure Direct Object References 5) Security Misconfiguration 6) Sensitive Data Exposure 7) Missing Function Level Access Control 8) Cross-Site Request Forgery (CSRF) 9) Using Known Vulnerable Components 10) Unvalidated Redirects and Forwards

Mitel has rebranded their UC (unified communications) offerings in order to emphasize their three product segments. These new brands include:

 

  • MiCollab, which brings together Mitel's unified communications and collaborations offering, including products previously called the UCA, MCA and NuPoint.
  • MiVoice, which organizes voice platforms and phones including MCD, 5000 CP, Mitel 5300 IP Phones and 8500 Digital Phones.
  • MiContactCenter, which comprises Mitel's contact center technologies.

 

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Call Centers

The Logitech Wireless Headset Dual H820e headset includes stereo earphones and a flexible boom microphone that can be rotated so the microphone can be used on the right side or left side, and is geared toward business users. The headset connects wirelessly through a small base station, which then connects to a PC via a USB cable. The headset's wireless connection uses the Digital Enhanced Cordless Telecommunications (DECT) standard, which lets you move up to 300 feet away from the base station, while simultaneously also reducing any potential interference issues that you might discover with Bluetooth or Wi-Fi devices.

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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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