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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.

September 2, 2013

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

 

General News

 

* Matagorda County CU Chooses Sharetec Core
* Harland Financial Solutions Expands Partnership with eLynx
* Fiserv Tablet Banking Taking Off
* PSCU Rolls Out Remote Deposit Capture
 

Data Systems of Texas, an owner/distributor of the Sharetec System, announced that Matagorda County Credit Union of Bay City, TX, has selected Sharetec for its core and home banking processing. Sharetec, a provider of both in-house and service bureau core solutions, has more than 300 credit union clients nationwide.

Harland Financial Solutions announced that credit unions using the LaserPro compliant loan origination, processing and documentation solution can now take advantage of new services resulting from an expanded alliance with eLynx. Documents created in LaserPro can be delivered and signed electronically by recipients who are not physically present in the branch or office. Additionally, documents are automatically printed and mailed if a regulatory deadline is nearing.

Fiserv, a leading global provider of financial services technology solutions, announced the launch of Mobiliti: Tablet, a turnkey ASP solution tailored for tablet users. Mobiliti: Tablet joins the company's existing licensed solution for tablet banking, enabling additional credit unions to support this rapidly growing channel. More than 100 FIs are already committed to deploy the solution.

PSCU announced the rollout of its Remote Deposit Capture (RDC) solution to its nearly 700 Member-Owner Credit Unions. The credit unions will be able to integrate the RDC solution in their existing electronic banking and mobile banking platforms, or deploy it as a separate standalone application in the member’s mobile device.

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Hardware News

Kingston Digital announced the SSDNow E50, its latest enterprise-class SSD. It allows organizations to take advantage of enterprise-level SSD performance for tasks such as data caching, frequently accessed data within applications, online transactional processing and virtualization performance. Kingston says that the drive features advanced data integrity protection via DuraWrite technology that extends the life of the SSD by reducing the number of Flash writes via an intelligent compression engine without sacrificing data integrity.

According to a new report entitled "Video Banking: Lights, camera, transaction?," credit unions must strongly consider adopting video banking in order to compete effectively and retain members. Celent says that video banking offers credit unions the ability to expand the reach and convenience of member engagement in a relatively low-cost fashion. They also recommend that video furthermore should be used with other useful, low-cost methods such as chat and click-to-call. 

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

 

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Software Updates

LockPath released Audit Manager as part of the latest version of its Keylight platform, which enhances the end-to-end internal audit process. Controls allow customers to scope and identify their audit portfolio, including facilities, technology assets, and devices. Keylight can automatically generate tasks based on a specific regulation, which can then be assigned to the right audit resources. Once findings are collected, remediation tasks are automatically produced to address the cited controls. Executives can check the status of any active audit and view who is working on a certain component in the process through dashboards.

SolarWinds says that their Virtualization Manager integrates with their Server & Application Monitor to provide comprehensive views of the virtualized application stack. Real-time dashboards help simplify identification and troubleshooting of performance, capacity & configuration problems. The package starts at $2995.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Unfortunately, ATM "smash-and-grab" incidents are growing in popularity. Here are some common ways to combat these crimes:

— Alarms and sirens

— Bollards

— Secure ATM body armor

— Surveillance

— Bolt-down security

There are many ways to advertise through an ATM. Proponents argue that ATM advertising is one of the most effective and cost efficient ways for credit unions to deliver a custom ad message to a highly specified target audience. We will cover ATM advertising in depth in the October 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:

 

Credit Union Data Processing (CUDP)

and their client is:

ISU 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

A recent study released by Javelin Strategy & Research reported that a deposit in a branch costs the credit union $4.25 on average, while the same deposit on a mobile device costs about 10 cents. Yet others are not convinced that the mobile RDC deposit cost is quite that low. They argue the 10 cent estimate does not adequately cover the costs of licensing the mobile RDC software, staff training, member support, and compliance costs.

Proponents of SMS marketing like to cite the fact that 91% of American consumers are within arm’s reach of their cellphone at all hours of the day. Yet SMS marketing is far from a no-brainer - it takes careful planning and consideration. We will cover some SMS marketing tips in the October issue of Credit Union tech-talk - subscribe now.

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Security Section

Security firm Group-IB says that they have discovered a new Web-based service for cybercriminals that automates the creation of fake scanned documents. The service can generate scanned copies of passports, ID cards and driver's licenses, fake scanned utility bills from various companies, as well as fake scanned copies of bank statements and credit cards. Scans of U.S. passports are the most expensive product and cost $11 each. Other scanned documents are priced at $7.99 or $9.99 each.

Websense has formed a team of Chief Security Officers who will provide free consulting and advice to fellow CSOs. The Websense CSO team offers a basic free threat strategy assessment; security framework review using a threat simulation penetration test in a sandbox; a "toolkit" for CSOs that provides guidance on security success and training employees; and boardroom assistance, where the team offers communication strategies for aligning security projects with business strategies.

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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

SMA
Q2ebanking - http://www.q2ebanking.com
Read Ned Tobey's comments:
http://www.cunews.com/Q2ebanking.pdf

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Technology and Marketing

Convenience stores – for activities such as cashing checks, buying money orders, or using ATMs – are widely cited as alternative financial providers by Gen Y, according to new SYNERGISTICS Research entitled, "Generational Marketing Strategies – Gen Y, Gen X and Baby Boomers." Gen Y is also more likely to utilize non-FI financial centers in retail stores such as Walmart, and they also do quite a bit of business with car title lenders. The report concludes that "traditional providers will need to position themselves against this threat using pricing strategies and emphasizing relationship benefits."

FORUM Credit Union recently launched a youth entrepreneur program called Bright Start. The program is designed to promote early entrepreneurial skills for kids and teens. The Indianapolis-based credit union recently sponsored a contest for kids who have their own business as part of the Bright Start Program. Youth ages 8-19 could submit a two minute video explaining their business and what they have learned from their experience. FORUM awarded prizes of $100 to the three winners.

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Online Banking/E-Commerce/Website Design

Dynamics claims to now offer the industry's first fully branded magnetic stripe. The previously plain dark mag stripe has now become a part of the overall card design. While providing an additional branded message to users, the new branded magnetic stripe also provides an added layer of scratch and wear and tear resistance.

JHA Payment Processing Solutions is rolling out an expedited EMV implementation process for U.S. card issuers. PPS, a division of Jack Henry, says that they are the first processor to offer this process, which provides a streamlined Visa EMV implementation path for select chip card profiles. Through the expedited process, PPS states that they can reduce credit unions' implementation costs, testing requirements, and overall timeframes. No host-to-host testing is necessary and card validation is optional.

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Online Banking Section Sponsored by
Cachet Financial Solutions

 

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Internet Access

NEC Corporation recently upgraded its UNIVERGE 3C Unified Communications & Collaboration (UC&C) software platform with its latest release. The new 8.5 release has added numerous enhancements, including integral mobility functions, workspaces with richer content and video collaboration, and better integration with desktop tools. Employees can use any combination of IP phone or any phone number, such as a cell phone or home office phone, as their telephony media device.

WatchGuard Technologies introduced the WatchGuard XCS 880 which is designed to help secure email and web-based content. The XCS 880 helps protect against inbound threats such as virus, blended threats and network attacks, while helping control outbound information to prevent data loss.

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Call Centers

By some estimates, a call directed to a live customer service agent costs 100 times more than a call handled through an IVR system. However it can be difficult to know what percentage of calls your IVR system is successfully processing. USAN, a company with 20 years of hosted IVR design and development experience, offers this formula as a standard means of measuring IVR system utilization regardless of the system you are using::

Transfer Rate=(Total Transfers)/(Total Calls) x 100

Utilization Rate=100-Transfer Rate

So, if an IVR system received 200 calls and 50 of them were transferred to the call center, the Transfer Rate would be:

50 / 200 x 100 = 25%

And the Utilization Rate would be:

100 – 25 = 75%

However, they add that not all calls transferred to the call center are the result of a failure in the IVR system - virtually all IVR call flows have points in them that, for business reasons, direct callers to the call center.

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Conferences

Catch Tom and Bill Rogers, Associate Editor of Credit Union tech-talk, at these upcoming conferences:

November 5 - 7, Denver - BAI Retail Delivery

May 21 - 23, Las Vegas - Credit Union InfoSecurity Conference

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