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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.

November 11, 2013

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

 

General News

 

* INTECH and Credit Union Resources Form Partnership
* Service Credit Union Deploys OnBase
* March Networks Wins Outstanding Technology Award
* Harland Financial Solutions Brand to be Replaced by D+H
* Symitar Introduces CruiseNet

Credit Union Resources, a wholly owned subsidiary of Cornerstone Credit Union League, announced the signing of an agreement with Innovative Technology (INTECH), a leading provider of core data processing solutions. INTECH offers core data processing products and services along with extended service options like Home Banking, Mobile Banking, Remote Deposit, Call Center solutions, Shared Branching and On-line ATMs.

Service Credit Union has instituted OnBase by Hyland Software for its enterprise content management (ECM) needs. The New Hampshire-based credit union said that the new system will help them more effectively manage data and documents for their 180,000+ members at 41 locations.

March Networks, a global provider of intelligent IP video solutions headquartered in Ottawa, Ontario, announced that it is the 2013 winner of the Outstanding Technology Recognition Award - High Tech as recognized by the Institute of Electrical and Electronics Engineers Ottawa Section. The professional association presented the company with the award for its “Advanced Innovation for the Greater Public Good.”

The Harland Financial Solutions brand is being retired effective at year-end and will be replaced by the D+H brand. Other D+H subsidiaries CompuShare, Mortgagebot and CreditPaths will also be combined as one unified business under the D+H brand. Individual product brands will continue under their current names.

Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced that its Symitar division has released CruiseNet, the next generation of its Cruise core platform. New features provided by CruiseNet include integrated loan collections, relationship pricing, risk-based lending and loan decisioning, accounts payable, fixed asset accounting, and customized workflow options for new members, new accounts, and new loans.

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Hardware News

Western Digital has begun shipping their new 6-terabyte Ultrastar He6 hard drive, a model that seals the spinning disk platters inside a chamber filled with helium instead of air. Helium reduces the turbulence caused by spinning disks and the heads that constantly move above them to read and write data. This means less waste heat and lower power consumption - Western Digital says that the power used per terabyte drops 49 percent with their new drives.

Cummins Allison announced an addition of the Money Machine 2 to its line of self-service coin counters. The new machine features:

- a greater overall capacity with 16 sorted bags

- an interactive LCD display

- a combined capacity of 72,000 coins 

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

 

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Software Updates

Kaspersky Lab announced a new version of Kaspersky Small Office Security, the company's security solution built specifically for organizations with fewer than 25 employees. In addition to Kaspersky Lab's latest anti-malware technologies, the new package includes Safe Money technology that automatically activates "an ultra-secure" web browser whenever the user visits a financial site. Kaspersky says that their Safe Money browser ensures no unauthorized programs can run and on-screen data is protected from key-loggers and screen-capture malware, and it will also verify that the website users are connected to is authentic and has a valid certification.

One option when choosing a network monitoring solution is to "rent" one in the cloud. We will lay out some of the benefits and use cases of this approach in the December 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

Fico has developed their Fico Proximity Location service in the UK that checks a person's location, via their mobile phone, against the location of the ATM or point-of-sale terminal. The service is part of FICO's Fraud Resolution Manager which allows the issuer to use this proximity to determine whether a cardholder account should be blocked or cleared for further activity.

Personal teller machines (PTMs) may be expensive to implement, but they can significantly reduce robbery risks and fraud. Both tellers and branch visitors feel safer because there is less risk of robbery when the money is stored securely in ATM vaults. Of course, remote tellers never touch cash so there is no opportunity for embezzlement. Plus the PTMs include software that automatically scans for counterfeit bills, which helps prevent fraudulent deposits. Finally with more "behind the scenes" opportunity to research suspicious activities, tellers can do a better job of detecting fraudulent activities.

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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 fromvarious technology vendors through the words of their clients. This week'svendor is:

 

Synergent

and their client is:

Five County Credit Union

Credit Unions - if you have a vendor that you are happy with thenpleaseThis 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 yoursolutions then pleaseThis 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

Slightly more than 50% of mobile users preferred apps to browsers for reviewing their banking information, according to the Adobe 2013 Mobile Consumer Survey. Yet browsers were more popular for more complex tasks:

- 71% prefer browsers for researching or shopping for a financial account

- 67% want to use a browser when applying for a financial account/product

Randolph-Brooks Federal Credit Union recently launched an updated Android app that features a new widget for easily displaying account balances. They say that it is an industry-first widget that permits users to view their RBFCU account balances without having to launch the app or log in. The widget automatically refreshes itself around the clock, so it always has up-to-date balance information.

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Security Section

Due to the fact that they are never stored on the hard disk, Advanced Volatile Threats (AVT) are difficult to detect. These malware attacks load into a computer's RAM, pilfer data, then wipe its fingerprints clean upon rebooting. Triumfant has launched an AVT module that is designed to help detect and stop "in-memory" malware attacks. The new solution, which is bundled free with Triumfant's product suite, combines patented malware detection software with new tools that can track malware functionality operating in the volatile memory of the endpoint machine.

The 2013 Global Profiles of the Fraudster report profiles the characteristics of the typical fraudster: typically middle-aged executives holding senior management positions in finance, operations or sales. This report from KPMG International says that these fraudsters will often act against the organization they have been employed by for more than six years and frequently collaborate with external fraudsters.

Employee theft and insider fraud are difficult issues to address. What role can technology play in helping to control these issues? We will explore that topic in the December 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

Core Systems:

Driving More Efficiency From Core Systems

Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

 
Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

 

Credit Union Data Processing (CUDP) - https://www.cuprodigy.com
Read Charlie Fulks' comments:
https://www.cunews.com/CUprodigy.pdf

 
CUtopia - http://www.cutopiasolutions.com
Read John Pantaleon's comments:    
https://www.cunews.com/CUtopia.pdf

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

 
Fiserv - http://www.creditunions.fiserv.com
Read Mark Sievewright's comments:    
https://www.cunews.com/Fiserv.pdf

Harland Financial Solutions - https://www.harlandfinancialsolutions.com
Read Tom Berdan's comments:
https://www.cunews.com/HFS.pdf

 
Innovative Technology (INTECH) - http://www.intech-inc.com
Read Tim Erwin's comments:
https://www.cunews.com/INTECH.pdf

 
Mercator Advisory Group  -https://www.mercatoradvisorygroup.com
Read Edward O'Brien's comments:    
http://www.cunews.com/Mercator.pdf



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Technology and Marketing

Google Analytics is a powerful and free tool that is constantly updated by the search giant. Recently they added new features such as auto-generated charts and the capability to easily mine visitor demographics. This kind of data may help you to fine-tune your marketing messages.

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Online Banking/E-Commerce/Website Design

By some estimates, the average debit card user performs 20 debit transactions per month at an average of $38, for a total monthly average of $760 in transaction volume. The Shazam Network has developed a formula to help you determine if your debit card fraud losses are equal to those of your peers, based on industry averages. Perform two separate calculations and then total them:

- Multiply the total transaction volume by .0007, and that would be your expected fraud loss on signature-based transactions.

- Multiply the total transaction volume by .0001, and that will give you the expected fraud loss for all PIN-based transactions.

Many observers believe that financial institutions have a duty to inform consumers about the dangers and best practices for financial transactions on the Internet, and Internet usage in general. One good resource comes from the US Government - the OnGuard Online website. The Federal Trade Commission manages www.OnGuardOnline.gov, in partnership with numerous federal agencies.

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Online Banking Section Sponsored by
Cachet Financial Solutions

 

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Internet Access

Telzio is a provider of cloud-based phone solutions for small and medium businesses. All of their plans feature IVR menus, call forwarding, unlimited SIP users, conference calls, opening hour filters, hold music, call screening, caller ID, call recording, call logging, and voicemail. The Startup Plan is $1/month and includes all features. The Standard Plan is available at rate of $9.99/month and includes all features plus 500 free minutes. The Pro Plan is $29.99/month and includes all features plus 2,000 free minutes.

Nationwide Building Society, the largest credit union in Britain, announced plans to introduce a new mortgage service, delivered remotely, from over 60 branches throughout the UK. The Cisco Remote Expert solution is technology which enables potential home buyers to “meet” with a mortgage consultant through a high definition video link. These consultants are able to offer the same fully-compliant mortgage service as an in-branch consultant. The high definition video link and shared screen system allow for an interactive display, while the attached printer provides the paperwork necessary to complete a mortgage application.

Hackers often gain access to internal networks through web applications connected to the Internet. In many ways a perimeter web server is an ideal target because it usually offers full Internet connectivity with minimal downtime while also providing an internal connection to the target network. We will look at some key indicators of compromised web servers in the December issue of Credit Union tech-talk -subscribe today.

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Call Centers

Noisy call center environments from telephones ringing, people walking by, office equipment, building mechanicals, etc can heighten tension and lower morale. Noise can also contribute to an unpleasant calling experience by broadcasting over the telephone. Acoustic professionals talk about the ABC Rule: absorb, block and cover. To help achieve effective noise reduction, your call center may want to take heed of the ABCs:

* Absorb noise - use a good absorptive ceiling tile with at least a 0.75 Noise Reduction Coefficient, or treat exposed ceilings with an absorptive material or vertical baffles.

* Block noise - if possible, build walls to the deck or suspended ceiling, and use workstation partitions above seated head height (60 to 65 inches).

* Cover noise - consider installing a sound masking system that is specifically engineered to increase speech privacy.

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