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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.

March 18, 2013

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

 

General News

* Better Branches Announces Teller Management & Staff Scheduler Modules
* Share One’s NewSolutions Selected by 10 Members of the SCCUA
* PSCU Receives National Recognition for BPM
* Central Star CU Launches NakedChecking.com
 

Better Branches Technology, a provider of innovative, affordable software solutions that help credit unions deliver high service levels, announced two new improvements to their Better Lobby solution: Better Lobby/Teller and Staff Scheduler. Better Lobby/Teller takes a unique approach to managing branch visitors – it measures each and every visit in real time, not just transactions, while Staff Scheduler is a flexible and modest-cost alternative to expensive WFM systems.

Share One’s NewSolutions core processing system was selected as the new vendor/core processing system by ten members of the Southern California Credit Union Alliance (SCCUA) after an extensive core vendor search. The CUs in contract with Share One include: Calcom FCU, Family FCU, Federal Employees West FCU, L.A. Healthcare FCU, La Loma FCU, Mattel FCU, Nikkei CU, San Francisco Recreation and Parks FCU, and Santa Ana FCU.

PSCU’s Total Inquiry Management System (TIMS) has been recognized for its value across the industry and within the community of the CUSO’s Member-Owner credit unions. Gartner, a leading technology research and advisory company, awarded PSCU Honorable Mention out of more than 1,000 contenders for its BPM Excellence Award in the “Best Business Outcome Driven by BPM” category for the North American region.

Central Star Credit Union has invited its members to get Naked...Checking. The Wichita, KS-based credit union and their marketing partner, Kearley & Company, aimed to promote the credit union’s free checking service in a more untraditional way. The campaign included an interactive mix of social and traditional media such as billboards, t-shirts, web and print ads. Central Star is also giving back to the Kansas Humane Society as part of the campaign.

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Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

The 11th annual CU InfoSecurity Conference will cover the following topics and more:

* BYOD
* Beyond SIEM
* Social Media Risks
* Phishing/Vishing Trends
* Cloud Backup Strategies
* Securing Mobile Banking
* Securing the Human Firewall
* Implementing & Securing IPv6
* Secure Document Management
* Information Security Programs
* Advanced Surveillance Security
* Assessments as IT Funding Tools
* Windows 7 & Windows 8 Security

Click Here for information, agenda, reservations & more.


Hardware News

The Netgear ReadyNAS Ultra 2 is a compact network attached storage appliance powered by an Intel Atom processor. The NAS offers two drive bays that can be set up either with mirroring or as a single volume that spans both hard disk drives - it supports up to two 3.5-inch, 3TB HDDs for 6TB of total internal capacity. The ReadyNAS Ultra 2 supports standard RAID 0 and RAID 1 configurations. The unit is available, diskless, for under $200.

PalmSecure, already tested with banks in Japan, is a palm vein identification system that uses an infrared sensor to scan the pattern of veins in the palm of the hand from a distance of about 5 centimeters, converting the result into a digital code. The system also detects the flow of blood through the veins, defending against the kind of fake-finger attacks that have troubled fingerprint authentication systems. Fingerprint scans have a false acceptance rate (when someone else is mistakenly identified as the authorized user) of around one in 100,000, compared to around one in 1.25 million for palm vein scans, according to Fujitsu. The false rejection rate (where the authorized user is refused access) is around one in 1,000 for fingerprint scans and one in 10,000 for palm vein scans. UniCredit, a large Italy-based European banking group, plans to roll out the system in Italy as means of payment authorization for consumers who do not want to use a card or a PIN. 

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

 

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Software Updates

Trend Micro announced a new suite – Trend Micro Enterprise Security and Data Protection - designed to help organizations efficiently mitigate the risks of attacks and data breaches across the spectrum of end user platforms, from smartphones to tablets, laptops to removable drives. The new suite brings together Trend Micro's leading data protection capabilities, including: data loss prevention, USB device control and mobile device management, and endpoint and email encryption.

VantageScore, the seven-year-old organization run by the three national credit reporting bureaus, announced its latest scoring model. The new version, VantageScore 3.0, provides the ability to score between 27 million and 30 million additional consumers who had been considered previously “unscoreable,” often because they lacked conventional credit histories. The new model also includes data from rentals, utilities and telecom payments to help generate scores. Meanwhile, arch-rival FICO has partnered with FactorTrust to generate new scores that will also help address financially underserved consumers.

CTS North America announced the launch of ClearPIX, a middleware product that improves human readability and Courtesy Amount Recognition (CAR) scoring when processing money orders and other non-conforming items captured using CTS scanners. The company says that ClearPIX features a set of advanced algorithms that enhance accuracy and image quality when processing difficult-to-read items, such as money orders, WIC vouchers and postal orders.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Many providers of wireless ATM services require a two year contract, a high monthly rate and a monthly lease payment for a wireless device, but the WirelessATMStore.com offers a different model. The company, a division of Partner ATM, requires no contracts or personal guarantees. They sell the ATM deployer the hardware, then charge a monthly fee for their 4G service.

Nationwide Building Society, a large British credit union, has implemented a "Favorite Transaction" feature from i-design on their ATMs. Based on past user behavior, the program preselects the cardholder's most frequently performed transactions and offers those options on an opening screen. No user action is required, and as the user's transaction habits change, the system "learns" those new behaviors and modifies the frequent transaction screen accordingly. NBS members like the solution as evidenced by a 75% uptake rate.

If your credit union is considering the use of kiosks to market to your members, there are many hardware choices and design options. We will discuss some typical kiosks deployment scenarios in the April issue of Credit Union tech-talk - subscribe today.

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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:

 

Synergent

and their client is:

Oxford 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

According to Heavy Reading Mobile Networks Insider, mobile payments will account for $1 trillion in global transactions by 2015. The company's new research report also predicts that merchants, not consumers, will drive demand. "Mobile payments have gone from being a cool-to-talk-about concept to a disruptive technology in a relatively short time frame," says a Heavy Reading Mobile Networks Insider spokesperson.

Validsoft, an authentication solutions provider, is touting their voice biometric solution as a great way to secure mobile devices. They argue that voice is the best biometric defense because it is the only biometric that works across all channels, including the call center. They contend that it is very difficult for fraudsters to break a voice biometric. If they try to replay a recording of the user's voice, the frequency of the recording drops, which Validsoft’s system can detect, plus the company has built a voice blacklist of known fraudsters that they can check a user's voice against to verify that they are not a known fraudster.

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Security Section

Solutionary is out with its 2013 Global Threat Intelligence Report and in it they lay out the top four threats to organizations. They are:

- sophisticated malware

- continued DDoS attacks across industries

- the BYOD trend

- Web application security

Evizone announced the commercial rollout of its hardened communications software, EviGuard, which they say provides unparalleled control in protecting confidential messages and documents. EviGuard's copy protection ensures that recipients' cannot save, copy, print or forward copy protected messages and documents. They say that their software prevents the use of print screen, screen capture/recording tools, virtualization and web conferencing and remote login tools as a means of bypassing copy protection. Recipients only view communications virtually through two layers of encryption.

The Secret Service seized nearly $81 million in fake money in the fiscal year that ended in October. Counterfeit cases are common because counterfeiting has never been easier, and the scammers are even moving down to $10's, $5's and $1's from their typical $100's, $50's and $20's. We will cover counterfeiting trends in the April 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

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

CloudAccess
Easy Solutions - http://www.easysol.net
Read David Sylvester's comments:
https://www.cunews.com/EasySolutions.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

According to new research from SNL Financial, the number of in-store financial institution branches has fallen by 4.6 percent since June 30, 2011 to a total of 5,750. The Charlottesville, Va.-based research firm notes that Wal-Mart hosts the most in-store branches, with a total of 1,531 in its stores. It also holds the most deposits, with $6.88 billion as of June, 2012. SNL points out that while in-store branches have the advantage of offering a high-traffic location, they also have inherent disadvantages, such as being small sized and generally not offering a wide range of financial products.

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Online Banking/E-Commerce/Website Design

A new Juniper report, Mobile Banking: Handset & Tablet Market Strategies 2013-2017, finds that a growing user acceptance of 'push' mobile banking and a sharp rise in tablet adoption will drive users of transactional tablet banking services to almost 200 million in 2017. "With online payments accounting for a significant proportion of all bill payments, especially in developed markets, BPP (Bill Presentment and Payment) transactions will indeed migrate from the desktop towards tablet devices. Consumers often prefer managing bill payment and transactions via tablet devices compared to smartphones," stated report author Nitin Bhas.

According to recent research from Callahan & Associates, as of 3Q 2012, 55% of all credit unions offer eStatements and roughly 47% offer online bill pay. As for remote deposit capture (RDC), here are the numbers:

- 41% of credit unions over $500 million offer it

- 16% of institutions between $100 million and $500 million offer it

- 2% of credit unions with assets less than $100 million offer it

Additionally, as of September 2012, 46% of credit unions with more than $20 million in assets are able to process new member applications online and nearly 68% can accept online loan apps.

As consumers migrate from traditional paper statements to e-statements, some observers are touting the advantages of the next generation of e-statements - the dynamic statement. We will explain how a dynamic statement works in the April issue of Credit Union tech-talk - subscribe today.

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Internet Access

AppNeta offers a multi-site WAN and LAN performance management suite called PathView Cloud. They include a technique called Packet Dispersion Analysis to test and characterize network connections. The software sends a sequence of small packets of varying sizes and configurations to a test server and back again. By analyzing how these packets are delayed and routed by the network, it is possible to determine the latency, the available bandwidth (or "headroom"), the actual bandwidth used, and how well certain protocols (such as VoIP) perform. Packet Dispersion Analysis requires only a tiny fraction of the available bandwidth to work so it can be run while routine network operations are in progress without causing any noticeable bandwidth impact.

Digium announced it is now offering "Switchvox Cloud," a hosted version of the company's phone system, targeting small and midsize organizations. Digium is a primary developer and sponsor of the Asterisk project, using open source software to provide unified communications. Switchvox Cloud comes with unlimited local and long distance minutes, local DID, unlimited extension-to-extension dialing, and HD voice; UC features are included for the same monthly price on a per-user basis features with no additional licensing fees or add-on charges. Prices range from $29/user per month with a three-year contract up to $35/user per month with a month-to-month, no-obligation contract. Fixed mobile convergence (FMC) is included with the offer, as are other features like voice mail, chat, presence, call queues, advanced IVRs, and conferencing on-demand recording.

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Call Centers

NICE announced the launch of its Proactive Compliance Suite for Consumer Protection, which helps credit unions adhere to regulations and effectively respond to audits. The company says that their Proactive Compliance suite draws upon their years of experience in designing analytics-based contact center solutions as well as its NICE Actimize expertise in financial crime, risk and compliance. One example of the system in action is when an agent handling a debt collection call will be instructed to provide the right disclosures based on member profile, type of debt, payment options, and member feedback throughout the interaction. The call will then be analyzed for any exceptions, such as the use of prohibited language by the agent in line with fair debt collection practices, or responses from the member that would indicate an escalation to a regulatory complaint or litigation. If, for instance, the agent deviated from the required script, the system might recommend a callback to the member in order to correct this.

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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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