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* CU Wallet Launches Mobile Wallet
* IMM Enables WESTconsin CU to Deploy eSignatures
* FIS Introduces New Analytics Suite
* March Networks Adds 360-Degree 5MP Camera & Fraud Detection
* Postal CU Implements Harland Financial Solutions' uOpen
CU Wallet, a collaborative credit union owned and directed mobile payments technology provider, announced that it is launching a credit union-centric mobile wallet application. At the time of the launch, 15 credit unions, ranging from $400 million to more than $5 billion in assets, and representing more than 2 million members nationwide, have signed agreements with CU Wallet.
IMM, a provider of eSignature, workflow and document solutions for credit unions, has implemented its cloud-based eSignature solution, Document Exchange, at $860 million WESTconsin Credit Union. IMM’s Document Exchange is totally device and browser independent, and upon completion of the cloud-based signing process delivers legally enforceable electronic signatures and records.
FIS, the world’s largest provider of banking and payments technology, announced the FIS Active Analytics suite. FIS says that their suite is a set of analytic solutions that enable credit unions to tap into new revenue streams through more precise member segmentation and optimized pricing, as well as improve marketing and cross-selling opportunities by delivering targeted, relevant and timely offers to members across multiple delivery channels.
March Networks, a leading supplier of video surveillance systems to credit unions in the Americas, announced their new MegaPX 360 Indoor Dome IP camera and a local ATM/teller integration capability. Able to capture a complete 360-degree field-of-view at five megapixel resolution, the MegaPX 360 also features a digital PTZ capability. The local ATM / teller transaction data integration delivers features similar to the company’s centrally managed, enterprise-class offering, allowing smaller credit unions to identify fraud faster and improve recoveries.
Harland Financial Solutions announced that Postal Credit Union is offering 24/7 online account opening via their uOpen solution. The Online Account Opening tool can be used to quickly and easily open savings, checking, money market, and reserve savings accounts at the Woodbury, MN-based credit union.
D-Link introduced their new 3 MP Full HD WDR Outdoor Dome IP Camera (DCS-6513) and 2 MP Full HD WDR Outdoor Dome IP Camera (DCS-6314) delivering HD resolution and a suite of image and installation features. The units come with a high-sensitivity 3 megapixel progressive scan CMOS sensor and rugged design, and feature a motorized P-Iris varifocal lens that controls the iris. Both cameras feature a microSD card slot for local recording, built-in IR illumination for dark environments with a range of up to 60 feet, two-way audio capabilities, and come with a PoE module for installation in a variety of locations without the need for supplemental power cabling.
Panini is rolling out a new remote deposit check scanner, the mI:Deal. The company says that on-board intelligence provides internal processing power for PC independent compression of MICR codeline, and captured images allow for easy integration with existing capture solutions. The mI:Deal also offers advanced MICR reading technology, dual-side image capture, and wired and wireless connectivity options.
Tablets have been a huge success with consumers, but have not caught on as well with businesses. Yet table proponents say that they offer many compelling advantages and that they hold immense promise for being the one “do-it-all” device. We will look at some various use cases for tablets in credit unions in the October issue of Credit Union tech-talk - subscribe today.
Hardware Section Sponsored by
Millennial Vision, Inc. (MVi)
One feature introduced with Windows Server 2012 was the Resilient File System (ReFS), a proprietary next-generation file system designed by Microsoft for large storage systems. ReFS can auto-correct data corruption once it's detected. It will also automatically isolate the damaged portion of the storage drive should its attempt to auto-correct the problem fail. However, critics contend that ReFS makes it difficult to identify which version of a data to use in the event of a failure, and makes data restoration time consuming. To help address these issues, third party products such as ReclaiMe's ReFS Recovery tool have come on the market.
Some organizations are moving beyond spreadsheets into Corporate Performance Management software (CPM), AKA Business Performance Management software (BPM), or Enterprise Performance Management software (EPM). The goal is to eliminate manual consolidation of complex Excel spreadsheets, improve collaboration and optimize financial management reporting. For example, Westerra Credit Union in Denver is using Adaptive Planning's CPM to assist them with their capital and personnel budgeting planning and maintenance.
Software Updates Sponsored by
Raddon Financial Group (RFG)
Cummins Allison, a provider of coin, currency and check handling solutions, announced the expansion of its product portfolio to include ATMs from GRG-International and GRG-Banking. They will offer a choice of eight different ATM models, from freestanding lobby terminals to full-function drive up units. All of the units are EMV-capable.
The cost to upgrade existing ATMs to be EMV compliant depends on numerous factors. Variable include the cost of the card readers, the cost of labor for field installations, and the pending costs to update the readers with software to enable EMV transactions. Some experts put these costs at about $2,000 to $4,000 per ATM. We will cover EMV upgrade issues more in-depth in the October issue of Credit Union tech-talk - subscribe now.
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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:
and their client is:
Mitek Systems announced that it has added new features to its leading Mobile Deposit solution. The new features created in the Mitek Lab include:
Cisco has opened up access to Kvasir, which helps penetration testers worldwide assess the security levels of computer systems. Currently, Kvasir supports the following tools:
- Rapid7 Nexpose Vulnerability Scanner
- Nmap Security Scanner
- Metasploit Pro (limited support for Express/Framework data)
- ImmunitySec CANVAS
- Foofus Medusa
- John The Ripper
Support for scanners such as Nessus, QualysGuard, SAINT, and others are in various stages of development.
Acronis launched mobilEcho 4.5, a mobile file management (MFM) solution that now includes in-app editing tools for Microsoft Office documents and military-grade, certified encryption. mobilEcho integrates with Active Directory to extend control of information to mobile devices. The software supports document thumbnail preview, enabling users to easily select the right files when browsing, plus it includes support for client certificate authentication.
Security Section Sponsored by
THE FINANCIAL & SECURITY PRODUCTS ASSOCIATION (FSPA)
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Driving More Efficiency From Core Systems
Online comments and other types of user feedback can be invaluable, especially for marketing departments. However, they can also be a huge negative if they are used by people looking to be offensive. One option that some institutions have implemented in an attempt to control negative behavior is to require commentators to log in to online banking before they can comment or submit ideas. It can also help you sort member comments from those of the general public in cases where you are soliciting feedback from both. Another option is to setup a dedicated email address that is displayed on the website that encourages users to submit ideas, suggestions, or concerns to senior management.
Digital Federal Credit Union plans on providing up to $100 million in financing for residential solar projects. The Massachusetts-based credit union has signed a deal with SunPower Corporation, a San Jose, CA-based maker of solar power systems, to be their partner in the program. Digital FCU also plans to participate out some of the loans to area credit unions.
Bank of New Zealand is using advanced facial recognition software to help visitors to their website explore their emotional attachment to their personal finances. Using technology from Swiss emotion recognition software company, nViso, BNZ has developed EmotionScan. The software analyzes facial expressions as participants listen to a series of scenarios designed around eight financial areas of interest; cash flow, budgeting, mortgages, retirement, financial security, financial control, debt, dependents, donations and savings. The goal is to discover the financial areas that consumers are most comfortable with and which they might need to address. They hope that after completing EmotionScan, participants will go into a BNZ branch to have a talk about the areas of their finances they are least comfortable with.
In just over 20 years, remittances, or the money sent by an individual back home or to another country has grown from under $50 billion to over $600 billion a year. New research from Mercator Advisory Group shows that the United States represents the largest source for remittance outflows to many countries around the world. The research firm notes that the importance of the remittance corridors between the U.S. and its Southern neighbors cannot be understated. The significant role the U.S. plays in outward remittance flows to Central and South American countries is exemplified by remittance inflows to Mexico, which totaled an estimated $23 billion in 2012.
EMV is a success story wherever it has been adopted. The smart cards have reduced card present fraud and helped consumers and merchants have more confidence in card payments. EMV advocates argue that the technology can be a game changer for consumer payments. We will explain why they say this in the October issue of Credit Union tech-talk - subscribe today.
Online Banking Section Sponsored by
Cachet Financial Solutions
Spikes, a cyber security company, announced its launch and the general availability of AirGap Enterprise, an anti-malware Windows compatible browsing system. The CEO of Spikes is the former CIO of PayPal and he claims that they have taken a radically different approach to web browsing by developing a highly scalable, enterprise-level client-server application that places the browser outside the firewall rather than on the user's computer (endpoint) – then having it interact with the web browser remotely, providing endpoint immunity to malware attacking through the browser. He says that the client browser deploys easily and requires no prerequisite software while the server runs on hardened, high performance hypervisor Spikes Appliances (delivered as a physical or virtual appliance) that offer 11 layers of protection.
Verizon Wireless announced a new broadband router that works over its LTE network and allows voice and data connectivity for the home or small business. The Verizon Wireless 4G LTE Broadband Router with Voice provides Wi-Fi access to smartphones, tablets and other devices for a distance of up to 300 feet, and includes three Ethernet ports for wired connections to laptops and other devices. Data downloads will range from 5 Mbps to 12 Mbps, and will be available in 500 cities nationwide. Battery backup of up to four hours is provided in the event of a power outage.
The "building block" method is commonly used in training call center agents. In action, it breaks down various job-related tasks into smaller learning blocks that are relatively easy for employees to learn. Yet critics say that this approach is too limiting and should be replaced by "scenario-based" training. This methodology works by structuring training to mirror how the job is actually performed. In action, each lesson is introduced via a realistic scenario that requires agents to utilize a variety of skills simultaneously. The scenarios are all modeled after the call center’s quality assurance guidelines so new hires practice handling calls correctly from the very outset.
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