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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 24, 2013

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

General News

 

* Connect Financial Software Signs River Valley FCU
* Bellwether CCU Implements IMM’s iSign for TotaleAtlas
* Navigant Chooses DNA Core Platform
* Partnership FCU Rolls Out AiresLive
 

Connect Financial Software Solutions announced a multi-year agreement with River Valley Federal Credit Union. With more than 15,000 members and $75 million in assets, River Valley FCU selected Connect for its consumer suite of Internet Banking.

IMM, a provider of eSignature, workflow and document solutions for credit unions, has implemented its iSign for TotaleAtlas at Bellwether Community Credit Union. iSign, the native iPad client application for TotaleAtlas, eliminates the need for costly legacy signature pads and further expedites electronic document completion for key business transactions.

The $1.4 billion Navigant Credit Union plans to convert to the DNA core processing platform from Fiserv. The Rhode Island-based credit union will also implement other solutions from Fiserv, including debit processing, the Accel payments network for ATMs and POS access, Velocity software for consumer, home equity and small business loan origination, WireXchange for wire transfer processing, Prologue for accounting, Nautilus for document imaging and solutions for item processing, voice response, CRM and BI.

Horsetail Technologies, a National IT Services provider to credit unions, announced that The Partnership Federal Credit Union has completed a rollout of Horsetail Technologies’ AiresLive compliance tool. AiresLive puts the NCUA’s Aires Audit online, in a secure location, where a credit union’s board can review compliance, its executives can manage compliance, and its employees can maintain compliance.

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Hardware News

Hewlett-Packard announced some new business PCs including the EliteDesk 800 G1 which comes in ultra-slim, small, and tower form factors. Each system comes equipped with Intel's latest fourth-generation processor with vPro support, WiDi technology for wirelessly connecting to displays and projectors, and Smart Response Technology to endow mechanical hard drives with SSD-like speed. All three form factors will have solid state drive options up to 500GB and include six USB 2.0 ports, four USB 3.0 ports, Ethernet, two DisplayPort outputs and start at $815.

CTS North America announced that it has increased the speed of its LS515-SE dual-pocket bulk check and item scanner by 50 percent. The units can now process 180 documents per minute (DPM). In addition to the speed upgrade, the LS515-SE is available with ClearPIX, CTS’ middleware that the company says improves CAR scores, reduces misreads and improves human readability of checks as well as difficult-to-read items such as money orders, WIC vouchers and postal orders. 

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

 

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Software Updates

SolarWinds Web Help Desk features asset auto-discovery with scheduled, automated discovery of hardware and software assets. Other key features include:

- Email-to-Ticket Automation

- LDAP / Active Directory Integration

- Ticket Action Rules

- Knowledge Base Management

- Ticket Submission Web Portal

- Two Way Email Integration

Social Mention is a social media search and analysis platform that aggregates user generated content from around the Internet into a single stream of information. It allows you to easily track and measure what people are saying about your credit union, a new product, or any topic across the web's social media landscape in real-time. Social Mention monitors 100+ social media properties directly including: Twitter, Facebook, FriendFeed, YouTube, Digg, Google etc.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

The ATMIA announced the publication of the results of its first international ATM innovation survey. Deposit automation came out as the top recent ATM innovation, while Mobile/Contactless Payments at ATMs was forecast to be the fastest growing value-adding service in the next 5 years. The following technologies were also listed as important ATM advances:

- enhanced security features

- new ATM hardware

- wireless communications

- ATM cash management and/or forecasting software

- migration to the XP operating platform

- video on ATMS (8.9%).

Citywide ATM announced the introduction of a new custom enclosure for its ATM PitBull alarm system. Developed in conjunction with Buckeye Shapeform, the enclosures provide easy access to the internal electronics of the ATM PitBull alarm system and allow easy post-installation access. The ATM PitBull alarm system has multiple points of detection and is fitted with electronics — including GPS live tracking — that can be controlled with an external keypad.

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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:

 

Enhanced Software Products (ESP)

and their client is:

Golden Triangle FCU

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

At the recent Mobile Banking and Commerce Summit, various speakers talked about the latest mobile banking statistics. Here are some of their examples:

- currently 590 million mobile phone users globally use their device for banking purposes

- that number is predicted to exceed 1 billion by 2017

- 48% of mobile bankers would like mobile banking tailored to location and their personal shopping habits

- in the 26-34 age group, 49% will change FIs for a better mobile experience

- U.S. mobile commerce sales will reach $86.9 billion by 2016

Celent notes that despite recent fraud headlines about remote deposit capture (RDC) fraud, there remains little evidence of ongoing operational losses from RDC. In three consecutive annual surveys of RDC deploying financial institutions, nearly 90% reported having suffered no RDC losses; while losses among the other 12% were not recurring events. The research firm believes that credit unions still on the mobile RDC sidelines fearing RDC risk are actually more susceptible to returned item loss through obsolete branch deposit-taking workflow. They conclude that a less risky, lower cost approach invites image capture at each point of presentment alongside modern, image-based risk management approaches.

Some observers contend that it is risky to charge fees for mobile banking services. Yet some institutions are moving full speed ahead with a wide variety of charges in order to "monetize mobile." We will take a look at this somewhat controversial subject in the July issue of Credit Union tech-talk - subscribe today.

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Security Section

A security startup named CrowdStrike is rolling out a big-data "active defense platform" that is designed to identify intrusions in real time, correlate attacks with a known group of attackers, and help organizations block attacks or even engage in counterintelligence or deception by feeding attackers fake information. Dubbed Falcon, the system works in part by running a small "sensor" on Windows systems, bolstered by DNS, email and API sensors on servers, to track the types of attacks that are being launched. CrowdStrike then correlates attack information with intelligence that the company gathers on attack groups.

Over 37 million users around the world were subjected to phishing attacks in the last year, which is an 87% increase for the number of targeted user in 2011-2012. The number of fraudulent websites and servers used in attacks has more than tripled since 2012, and more than 50% of the total number of individual targets were fake copies of the websites of financial institutions. According to the results of Kaspersky Lab research into the evolution of phishing attacks, the overwhelming majority of phishing attacks are launched against users when they are surfing the web, and take the form of banners on legitimate websites, messages on forums and blogs, and private messages on social networks.

One large strong authentication and e-signature vendor says that they can now embed authentication into a regular debit, credit or ATM card. We will take a look at how it works in the July issue of Credit Union tech-talk - subscribe now.

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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

Think Finance says that their research shows that nearly all (92 percent) Millennials say they currently use a financial institution, but almost half (45 percent) have supplemented banking services within the past year with an alternative financial product or service such as:

- prepaid debit card

- money transfer service

- check cashing

- pawn shop

- payday loan, etc.

The most important factors for Millennials in choosing a financial services provider are cited as: "no surprise fees" (69 percent); "no or low fees" (56 percent); "easy-to-understand fees" (48 percent); and "no overdraft fees" (43 percent).

MidUSA Credit Union announced that it has signed an agreement to be the first credit union in the United States to deploy high definition 3D OmniSuite technology through Buffalo Pacific and Telepresence Technologies. The technology brings together life-size 3D, real-time video communications with full eye contact and theater quality sound to create a virtual "presence" of credit unions experts, on member demand. The 3D OmniSuite technology utilizes six registered US patents that provide high-definition 3D imaging and communication with full eye contact, life size images, and theater quality sound all designed to create personalized relationships between a credit union and its members.

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Online Banking/E-Commerce/Website Design

Many financial institutions are using e-signatures to streamline their online operations, as well as in their branches to further digitize operations and eliminate much of the otherwise necessary workflow associated with each process. One institution conducted a time and motion study with their staff in which they compared their e-signature process against their old method of opening a new account, printing the documents, receiving a signature and scanning documents back into the system. The result was a saving of $50 per employee per month on this process alone.

MoveCU.com call themselves “the first website to grade credit unions for consumer desirability.” Using their own search engine dubbed CU-Shopper and 5300 Call Report data, the website ranks CUs based on a 15-point matrix that focuses on price, quality and convenience factors. Smaller credit unions fare well in the site's rankings, as evidenced by the fact that the site’s Top 5 highest rated credit unions averaged just $31 million in assets, with less than 1,900 members.

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Internet Access

PathSolutions is a provider of automated network performance management solutions that assist in the troubleshooting and resolution of VoIP, VDI, video, and data quality issues. The company’s VoIP Performance Manager continuously monitors the performance of the entire VoIP network for issues, down to every port on every router and switch. The software notifies IT Departments when, where and why VoIP problems occur and even recommends how to fix them.

IntelePeer and Vidtel announced a joint solution to deliver cloud-based videoconferencing services. With the partnership, IntelePeer will integrate the Vidtel MeetMe cloud-based videoconferencing service into its portfolio of SIP trunking solution offerings, expanding its range of unified communications (UC) enablement capabilities. The new videoconferencing service is fully hosted, and it is designed to help participants easily join conferences from a broad variety of devices, including traditional video systems, laptops, tablets and smartphones.

Google is offering a 1Gbps connection for only $70 a month via their Google Fiber service. However, it is only available in Kansas City, with plans to deploy in Austin, Texas, and Provo, Utah soon. Meanwhile, the cable industry insists that it is ready and able to compete with Google Fiber when it comes to delivering high speed broadband. Yet cable critics disagree and argue that the cable companies are holding back on delivering high speed - and affordable - Internet access to consumers and businesses. We will over this topic more in depth in the July issue of Credit Union tech-talk - subscribe today.

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Call Centers

Pindrop makes systems that help credit unions detect and block scammers engaged in spoofing phone calls to their contact center. The firm uses acoustical fingerprinting technology to automatically detect fraudulent callers. Their software finds patterns in the sounds, packet loss and latency that tell you the network, phone type and specific location the call is coming from with the goal of predicting fraud, identifying repeat criminal rings and transparently authenticating legitimate callers.

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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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