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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.

May 6, 2013

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

 

General News

 

* Scient FCU Chooses PhoenixEFE from Harland Financial Solutions
* Guardian Analytics and Fundtech Announce Partnership
* Bar-Cons FCU Selects Sharetec Core
* LendKey Signs United States Senate FCU
 

Harland Financial Solutions announced that Scient Federal Credit Union based in Groton, CT has licensed its real-time core processing solution, PhoenixEFE Core. In addition to PhoenixEFE Core, the credit union licensed PhoenixEFE Teller, Sales & Service and Collections, as well as other Harland Financial Solutions offerings, including FMS financial accounting software, Cavion, Voice Banking, the DepositPro account opening solution, the LaserPro suite for compliant loan documents, the DecisionPro credit application processing system, CreditQuest Credit Manager and uOpen online account opening and funding.

Guardian Analytics, a leading provider of behavior-based anomaly detection solutions for preventing banking fraud, and Fundtech, a leader in global transaction banking solutions, announced a partnership to deliver a behavior-based fraud prevention solution for real-time wire processing. The new market offering — FraudMAP Wire for PAYplus — integrates Guardian Analytics’ FraudMAP Wire solution with Fundtech’s payment platforms: PAYplus USA & PAYplus Connect.

Bradford-Scott Data Corporation, an owner/distributor of the Sharetec System, announced that Bar-Cons Federal Credit Union in Columbus, IN 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.

LendKey, (formerly Fynanz), the cloud-based lending technology company located in New York City, announced the addition of United States Senate Federal Credit Union (VA) to its growing list of lending partners. The credit union will utilize the LendKey custom platform to power its private student loan and private student loan consolidation programs.

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Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

The 11th annual CU InfoSecurity Conference will be held June 5 - 7, 2013 at the Platinum Hotel in Las Vegas, NV.

This is a one-of-a-kind conference - a security conference dedicated solely to credit unions. Highly experienced, expert speakers discuss the latest security trends as they specifically apply to credit unions. Also included is a tour of InTouch Credit Union’s Lake Mead high tech branch. The CU InfoSecurity Conference is priced so that the majority of credit unions can afford it - just $395 per person and $295 for returning attendees. Topics include:

 

* 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.

Mention this ad and get a $100 discount!


Hardware News

Speco Technologies, a manufacturer of video surveillance solutions, announced their latest Digital Video Recorder (DVR): the WCSPM DVR. The unit now offers both options of built-in CCTV power supply and monitor for ease-of-camera setup and features advanced analytics, such as thumbnail search and Digital Deterrent with 2-way audio. The DVR features an IR remote controller, on-screen keyboard, point and click operation of detailed features, and a wall-mountable design.

While many organizations use high availability software associated with the widely used VMware hypervisor, fault tolerant servers are another viable alternative for protecting heavily virtualized environments. We will take a look at some fault tolerant server options in the June 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

SolarWinds released its new Firewall Browser free tool, which enables IT professionals to easily troubleshoot firewalls and manage change requests from their desktops. The firewall configuration search tool supports unlimited searches on mixed-vendor inventory from a single interface and includes these features:

 

  • Import and search unlimited Cisco, Check Point and Netscreen configurations
  • Search rules and objects based on IP address, name, service, or port
  • Verify if a change request is already handled by the security rules
  • Find the best rules and objects that can be reused for making a change
  • Determine the impact of a change to an object group.
Splunk captures, indexes and correlates real-time data in a searchable repository from which it can generate graphs, reports, alerts, dashboards and visualizations. The latest release is version 2.4 of the Splunk App for Enterprise Security, which makes the statistical analysis tools, dashboards and visualizations available out of the box. The software enables statistical analysis of HTTP traffic to help security professionals determine a baseline for what's normal, detect outliers and use those events as starting points for security analysis and investigation.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

The ATM Industry Association (ATMIA) announced the results of a new survey that confirms concerns are justified about the ATM liability shift that went into effect recently. The survey shows that few have access to the solutions necessary to deploy EMV-capable ATMs, and even fewer have been able to meet the liability deadline. Mike Lee, ATMIA CEO, concludes “We are off to the worst possible start for EMV migration in the USA – there is uncertainty, unpreparedness and an unknown field of possible outcomes thanks to this completely premature deadline forced on the industry.”

ATM wrapping involves working with a third-party service to professionally design custom graphics, then wrap the ATM in the design. Some credit unions have rolled out innovative ATM wraps that have resulted in a positive ROI for their efforts. We will cover ATM wraps in the June 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:

 

ForeScout

and their client is:

Meritrust 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 research from CEB TowerGroup, mobile banking adoption is growing steadily, but it is still rarely used as the primary banking channel by consumers. The research firm notes that the majority of mobile bankers use the channel for alerts, with occasional transactional capability. Their survey found these are the most important mobile functions:

- 54% said being able to receive notifications from their credit union about irregular account activity or changes to their account

- 51% reported bill pay capabilities

- 46% listed notification of low account balances

- 43% said mobile remote deposit capture

In partnership with Nuance, U.S. Bank has developed voice recognition software that will let customers handle banking tasks by speaking commands into their mobile device. The Siri-like app understands spoken requests for information on such things as annual percentage rates, cash back on purchases, and fees.

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Security Section

All Clear Systems has developed a sophisticated system to safeguard credit union employees and assets during the branch opening and closing process. The All Clear System provides a credit union-defined dashboard containing real-time information for monitoring your human resources, including storing the data needed for compliance audits and other reporting functions.

Return Path announced that their Anti-Phishing Solutions can now combat attacks from all email domains, including those beyond their control. This represents a product capable of identifying fraudulent email from so-called lookalike domains (close variants of brand names) and from domains entirely unrelated to the brands being targeted in phishing or spoofing attacks. The company says that their solution complements traditional authentication-based solutions such as DMARC, which offer visibility into fraudulent email appearing to originate from an organization’s own sending domains.

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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

FireEye
FireEye - http://www.fireeye.com
Read Manish Gupta's comments:
https://www.cunews.com/FireEye.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

The Cisco Connected Customer Experience Report for Retail Banking notes that consumers ranked availability, competence, and efficiency as top banking customer experience attributes. Their survey in the U.S. found that slightly less than half of consumer respondents believed their financial institution knows enough about them to deliver personalized service, however, 69% indicated that they would be willing to share more information in exchange for tailored service. The Cisco survey indicates that consumers expect to interact more with their FIs over a greater number of channels. For example, 48% of U.S. consumers would be comfortable if the entire process of securing a loan were conducted through virtual channels (defined as phone, email, video, and instant message (IM)). 34% indicated that they would be willing to have video chat with their financial advisor with 72% preferring to do that from their home using a tablet or computer versus a smartphone.

A Massachusetts-based startup is offering credit unions an affordable way to profile consumers with no credit histories. We will tell you how it works in the June issue of Credit Union tech-talk - subscribe now.

 

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Online Banking/E-Commerce/Website Design

Scivantage is a provider of web-based, front- and middle-office technology software that covers solutions from trade processing and account management to comprehensive cost basis reporting and automated account opening, maintenance and funding. The company wants to help credit unions integrate their online banking and wealth management offerings to create a more seamless online banking experience. They note that many consumers, especially those between the ages of 25 and 30, currently prefer to patronize online brokerages that offer better online wealth management tools. However, they are convinced that credit unions can win back those consumers if they offer better digital products that are well integrated with their regular accounts.

The Royal Canadian Mint is looking to develop an “eCoin” for Canada dubbed the “MintChip”. This would be a digital cash replacement aimed at transactions under $10 and value would be recorded on chips within USB sticks or on MicroSD cards in phones, tablets or other devices. Value would be transferred between chips for low, or no, transaction fees.

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Internet Access

The latest WhiteHat Security Website Security Statistics Report shows that the average number of serious vulnerabilities per website continued to decline, going from 79 in 2011 down to 56 in 2012. However this good news is tempered by bad news: 86% of websites tested were found to have at least one serious vulnerability exposed to attack every single day of 2012. Serious vulnerabilities are those in which an attacker could take control of all or part of a website, compromise user accounts on the system, access sensitive data or violate compliance requirements. The most prevalent vulnerabilities were:

- content spoofing identified in 55% of websites

- cross-site scripting in 53%

- cross-site request forgery in 26%

- brute force 26%

- fingerprinting 23%

- insufficient transport layer protection 22%

- session fixation 14%

- URL redirector abuse 13%

- insufficient authorization 11%

Security vendor Prolexic found that attackers are increasingly using the protocols for what it terms "distributed reflection denial-of-service attacks" (DrDos), where a device is tricked into sending a high volume of traffic to a victim's network. The firm says that printers, routers, and many other Internet-connected devices can all be used by hackers to conduct an attack. These networking protocols include:

- Network Time Protocol (NTP)

- SNMP

- Character Generator Protocol, or CharGen

TalkSeda-GVO is a totally browser based Web conferencing package, with no software to download or install, enabling you to host live meetings, classrooms and webinars. Some of its features include: desktop sharing, share presentations of any file-format, 4 way video conferencing, free audio-VoIP, share presentations of any file format, co-browsing, multiple moderators, complete vote/ poll module, broadcast video and movies to your end-users, transfer files to guests in room, record your meetings for free, clear text chat, and free toll number with recording. It is also affordable: a 50 person room with unlimited meetings runs $8.97 per month.

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Call Centers

The Aite Group believes that financial institution call centers should consider adopting voice biometric solutions because they can increase operational efficiency, improve the caller experience via frictionless authentication, and reduce fraud losses. Their research on fraud at contact centers of top-tier financial institutions found that 74% believe that they are being targeted by organized fraud rings, 16% repetitive individual fraudsters and 10% don't know how they are being targeted.

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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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