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August 18, 2014

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


General News  

* IMM Rolls Out Consultative Practice Offering
* PSCU Opens New Michigan Call Center
* Navy FCU Implements Cachet Financial Solutions' Prepaid Mobile App
* AllSouth FCU Experiences Success with D+H's MortgagebotPOS

IMM, a leading provider of integrated eSignature, workflow and document solutions for credit unions, has formed a new Professional Services team. The group will provide higher-level project coordination and management, business analysis and solution implementation, along with traditional installation and training through a structured methodology.

PSCU, a CUSO that provides payment processing, strategic consulting, mobile applications, analytics solutions, fraud management and contact center services to over 800 U.S. credit unions, opened a new call center facility in Allen Park, MI that consolidates their Auburn Hills and Southgate, MI offices. The 45,000 square foot Allen Park facility can accommodate nearly 420 employees, including call center representatives and technical support staff.

Cachet Financial Solutions, a leading provider of prepaid mobile money management solutions, has partnered with Navy Federal Credit Union, the world's largest credit union, to implement a money management tool geared towards students. The credit union's Visa Buxx program will use Cachet's Select Mobile Money prepaid mobile application to view balances, request money from parents through SMS, email or in-app notification, and use the locator feature to locate the nearest branch or ATM.

D+H Corporation announced that South Carolina-based AllSouth Federal Credit Union completed 58 percent of its mortgage applications through Mortgagebot Advisor after just two months of going live with the Web-based solution. Using MortgagebotPOS Advisor, AllSouth captures walk-in and call-in business because more employees are equipped to collect the application data without being formally trained or experienced in mortgage lending.




Hardware News

Researchers with Eurecom found that firmware in more than 120 office products is vulnerable to malware. The security problems included poorly protected encryption mechanisms and backdoors that could be exploited. They found that printers are the number one issue, as far as firmware updates and firmware vulnerabilities go for enterprise users in general. The best solution for reducing the risk posed by printers and other equipment is to keep them on a segregated network or to strictly control access.

Chip makers such as ARM, Intel and AMD want to make hardware the first layer of defense against data breaches and other attacks on tablets and smartphones because these devices are becoming increasingly vulnerable, with more personal information, banking data, passwords and contacts residing on devices without any protection. The companies are knitting together hardware and software to work more cohesively in a system, and also establishing hypervisors, secure boot layers, and segmented areas (AKA sandboxes) in which code could be executed without compromising a system. ARM is improving its security layer called TrustZone which establishes a trusted execution environment in which code can be safely executed without affecting the entire system. 


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


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Software Updates

Intellinx offers a check fraud system that tracks multiple indicators of suspicious activity across member, account and check data. The system combines this information with internal and external user activity collected using their sniffing technology. The software uses advanced predictive analytics to provide detection capabilities based on integration with core systems, check processing systems, image sources and archives (e.g., ATM, teller, and RDC), returned items feed and returned checks.

SolarWinds has released version 1.1 of their Network Performance Monitor package. With the new deep packet inspection (DPI) technology and analysis of Network Performance Monitor, IT Departments will be able to identify, classify and analyze application latency issues to determine if they stem from the network or the application. The company says that the system automatically discovers network devices and typically deploys in less than an hour.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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ATMIA just published new international industry recommendations for maximizing the ATM user interface (UI) for about 2.4 million ATMs worldwide. The document focuses on recommendations regarding the accessibility, speed, operability, and security of ATMs. The manual shows how new interface technologies, such as tactile and multi-touch capabilities, biometrics and HTML 5, allow concepts usually applicable to mobile devices and tablets to be extended to ATM UIs. ATMIA has based the new recommendations on inputs from deployers, software and hardware manufacturers, technical experts, processors, researchers and card issuers.

Many financial institutions are moving ATMs to the front of the branch and training staff to show visitors how to use the newer, enhanced functionality ATMs. One institution that worked with Diebold had 26% of its deposits at ATMs, but after they moved the ATMs in one of their branches and trained the staff there to teach consumers to use them, their ATM deposits increased to 54%, while teller deposits dropped by 19%.


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:


LVerint Systems


and their client is:

American Eagle 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

Juniper Research says consumers will increasingly prefer to pay their bills via mobile devices. In 2014, the number of household bill payments paid via mobile will pass 20 billion – a figure which represents about 16 percent of the global payment total. That figure will grow over the next five years, according to Juniper, which credits consumer acceptance of transactional digital banking, as well as a greater adoption of mobile banking, for the trend.

Fiserv has released a white paper for financial institutions that highlights the unique digital banking needs of business customers, with a focus on mobile banking. They quote research from Raddon Financial Group that shows that 35 percent of small businesses use a smartphone and 25 percent use a tablet for business banking, and industry forecasts suggest these numbers will rise. The paper, entitled “Riding the Digital Wave for Business Banking, Propelled by Mobile,” states that the unique needs of businesses include:

- Tight Security and Control – e.g., proactive monitoring, access control, etc.

- Tailored Functionality – e.g., wire transfer approvals, positive pay decisioning, and the ability to deposit checks and initiate payments.

- Streamlined Onboarding – e.g., integrated online and mobile banking credentialing facilitates changes to information or access.

- Reimagined User Interface – e.g., data in the form of easy to read graphs or charts.


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Security Section

Automated incident response platforms strive for total network security by combining threat detection, prevention and response. Several companies have come out with automated incident response products and three of them are Tenable Network Security SecurityCenter, Hewlett Packard WebInspect and Co3 Systems Security Module. With these systems, every PC, device and connection is constantly monitored for malicious or abnormal behavior. Tenable's system starts at $19,995 for 500 IPs, plus maintenance; WebInspect starts at $1500 and scales up based on devices; and Co3 starts at $75,000 for 10 users.

The alleged ringleaders of one of the most successful counterfeiting operations in US history have been indicted. The case centers around a counterfeit $100 bill, known as the “Russian-Israeli note,” that has been in circulation since 1999 and may account for up to $77 million in fake notes. The US Secret Service recovered $156 million in counterfeit dollars and arrested 2,668 people for faking currency last year.

Symantec ran 200,000 malware samples on a VM and a non-VM machine to see which ones would stop working when a VM was detected. Just 18 percent of malware programs studied stop executing when a VM is detected. In response, Symantec recommended hardening host servers, vigilant patching of VMs and using antimalware defenses.


Security Section Sponsored by


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Question: With ransomware like CryptoLocker on the rise, what’s your only real defense against malware attacks… no matter what security software you’re using?

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Well, who better to train them than the man who was once the world’s most-wanted hacker?

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Sound good? Of course it does.

Learn more about our training and our guarantee, and find out just how affordable our program is for your credit union. Ask for your quote TODAY.


KnowBe4. Human error. Conquered.


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Leaders Roundtable

Online & Mobile Banking:

Online and Mobile Banking – Improving & Bridging the Digital Channels

Bluepoint Solutions - http://www.bluepointsolutions.com
Read Andrew Tilbury's comments:

D+H - http://www.dh.com
Read Tom Berdan's comments:

Integrated Media Management - http://www.immonline.com  
Read John Levy's comments:

Javelin Strategy & Research - http://www.javelinresearch.com
Read Mark Schwanhausser's comments:

Mercator Advisory Group  - http://www.mercatoradvisorygroup.com
Read Pradeep Moudgal's comments:    
PSCU - http://www.pscu.com
Read Jeremiah Lotz's comments:



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Technology and Marketing

More than 80 percent of 1,244 banking consumers in North America and Western Europe say a top priority is being rewarded by financial institutions for the money they keep in their accounts, according to a new retail banking study from CGI Group. Consumers particularly desire discounts on loan products, better rates on savings, free trades on brokerage accounts, and more dedicated attention, and such rewards are a top priority among 88 percent of North American consumers. The business and technology consulting firm concludes that "consumers want some form of recognition or outright benefit for the business they are bringing to a financial institution."


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Online Banking/E-Commerce/Website Design

MasterCard's Digital Enablement Service is a new platform that facilitates identification and verification of cardholders, and generates tokens or data packets for use by issuers that link to a card`s primary account number (PAN). These tokens are secure and can be used on mobile devices for purchases through mobile applications, online, or at the point of sale. Issuers of MasterCard- and Maestro/Cirrus-branded cards can soon expect new “digital enablement” fees:

- a “Digital Enablement Service Lifecycle Management” fee of 10 cents per PAN

- a 50-cent “digitization” fee each time a mobile device is provisioned with a token

- and 2.5 cents for calls to its “alternate network application programming interface.”

Some security experts are recommending that the safest form of online banking is to use the Chrome OS (the system on Chromebooks), and the safest way to use it is in Guest Mode. Guest Mode on a Chromebook is like private browsing mode (called "incognito" in Chrome and "InPrivate" in Internet Explorer) on steroids. When you logon as a Guest there are no cookies, favorites or browsing history to be discovered, stolen or manipulated, plus Guest users can't see files stored on the Chromebook by others.


Online Banking Sponsored by


PSCU - The Nation's Leading CUSO

We offer leading edge eCommerce Solutions:

* Electronic Banking

* Mobile Banking

* Online Bill Pay

* Remote Deposit Capture

Contact us today:

(800) 443-7728


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Internet Access

Array Network`s WAN Series WAN Optimization Controllers (WOC appliances) are designed to bring WAN optimization to small and remote office environments. The WAN1100 offers 10Mbps throughput and supports up to 1000 concurrent TCP connections. The appliances support feature set identical to the company's aCelera WAN optimization virtual appliances.

Encore Networks has launched the EN-2000, a low cost wireless VPN router designed for fixed or portable locations supporting ATMs, video surveillance, digital signage and remote access on both the public or private Verizon Wireless 4G LTE network. Customers can use 4G LTE as a primary or back-up connection, eliminating the high costs of traditional wired networks and associated challenges including install times and outages. The Encore equipment provides license free Enterprise Class IP, VPN, Firewall, Routing and IP interworking features, and runs $285.


Internet Access Sponsored by
Ongoing Operations


Ongoing Operations - The Credit Union Movement's Top BCP & Technology (Cloud) Provider

Always-On Production Connectivity typically includes:

* Internet Connectivity

* Core System Connectivity

* Credit Union Connectivity

* Credit Card Processor

* Debit Card Processor

* ATM Processor

* Online Banking Provider

* Fedline / Federal Reserve Connectivity

* Enterprise Grade Firewall

* Intrusion Detection System


Contact us today:

This email address is being protected from spambots. You need JavaScript enabled to view it.


visit our blog for the latest BC/DR news: http://ongoingoperations.com/blog/


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Call Centers

Dealing with irate callers is one of the toughest parts of being a call center agent. Some call center experts advise against generic apologies and recommend that agents be prepared with specific issue apologies, be sure and address the caller by name, and express the desire to work together to resolve the problem. John Tschohl, an author and a customer service guru and service strategist, has developed the 4 C`s of handling irate callers:

- Compassion – Listen carefully and react to their words, not just their behavior. Examine the facts.

- Calm – Remain calm and don`t lose your cool.

- Confidence – Handle the situation knowing you are following company guidelines.

- Competence – Save the caller with competent handling of the situation