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 Your source for the latest technology information of interest to credit unions across America.

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December 22, 2014

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


General News  

* Three CUs Add IMM's TotaleAtlas Workflow
* St. Anne CU Converts to Sharetec
* Wincor Nixdorf & planfocus Form Partnership
* OnApproach to Establish CU Big Data/Analytics Forum

IMM, a leading provider of integrated eSignature, workflow and document solutions for credit unions, announced that three longtime IMM customers have added workflow to their existing eSignature environments. Centris Federal Credit Union, Education First Federal Credit Union and 1st United Services Credit Union have each been running IMM`s flagship eSignature and document presentment platform, TotaleAtlas, alongside the cloud-based remote eSignature service, Document Exchange, among other IMM services, and have now added TotaleAtlas Workflow.

Northern Data Systems (NDS), an owner and distributor of the Sharetec Core Processing System, announced it recently converted St. Anne Credit Union, New Bedford, MA to its core processing platform. St. Anne is now utilizing Sharetec`s integrated Document Manager with e-Loan Signature Capture and Teller e-Signatures along with e-notices and check imaging. Mobile Banking is expected to be rolled out to members in the near future.

Wincor Nixdorf, a leading provider of ATMs and software to credit unions, and planfocus software, a company that develops software to manage the cash supply chain, announced their intention to enter into a strategic partnership. The partnership is aimed at pooling and globally marketing the cash logistics software expertise of the two companies. The planfocus CPTO software will undergo further development to tie it in with key software products from Wincor Nixdorf.

OnApproach, a leading provider of Big Data/Analytics solutions for credit unions, announced that they will be establishing an online credit union Big Data/Analytics Forum on their website. The group is open to all interested parties in the credit union industry, not just OnApproach users, and will be administered by the users of the group.




Hardware News

Traditional firewall solutions are gradually being replaced by Next Generation Firewalls (NGFW). What NGFWs entail varies form vendor to vendor, however here are a few features that are typically included within a NGFW offering:

- Application Awareness

- Stateful Inspection

- Integrated Intrusion Protection System (IPS)

- Identity Awareness (User and Group Control)

- Bridged and Routed Modes

- Ability to utilize external intelligence sources

Backblaze is a cloud service provider that regularly publishes information on the performance and reliability of hard drives. They recently covered two of the industry's leading 6TB 3.5-in. hard drives from Seagate and Western Digital (WD). Both models cost about the same and use 6Gbps SATA connectors, but the Seagate Barracuda desktop hard drive (model STBD6000100) was outperformed by WD's Red SATA NAS drives (model WD60EFRX). The company notes that they almost never use 'enterprise' drives because they tend to cost two times more than high end ‘consumer` drives and "the increased reliability (which is questionable)… doesn`t justify the cost." The company plans on buying 10,000 drives in the next few months. 


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


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Software Updates

Celent has released a new report, titled, "When the Levee Breaks: International Core Vendors Entering the US." With more financial institutions than any other country, the US is attractive enough to warrant investment by international vendors. Celent estimates the North American core banking market to generate revenue of $2.9 billion in 2013. It should grow at 3.7% annually, reaching $3.3 billion in 2017. They note that the market is large, lucrative, and growing, but many of the opportunities will likely come from selling ancillary products rather than the core. The research firm concludes that "consolidation among domestic vendors has reduced development resources for some legacy core banking platforms, creating a market opportunity for international vendors. The banking market in the US is steadily approaching a watershed period for core transformation."

Password Gorilla is an open-source tool for passphrase vaulting. It is available for a variety of platforms, including Windows, Mac, and UNIX systems. Although it is not actually intended for license management, it can be used to securely track software licenses. For example, you could create subgroups for each department within the credit unions and then create logins for software titles within the subgroups. It would work well if you just need to keep track of licenses and who has them.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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The ATM Industry Association has completed a major update of its "Best Practices for ATM Business Efficiency" manual. The organization says that ATM deployers must move their traditional focus from interchange and surcharge revenues to bringing new functionality and new revenue streams to the ATM channel. The ATMIA is also launching a Business Empowerment Portal which serves as an access point for information and resources for ATM operators, and also includes an interactive regional map that links users to ATM industry facts and figures. The site also features a new search tool that makes it easier to find ATMIA members who provide specific products and services.

Some observers believe that a well designed ATM-to-ATM cash transfer service would attract millions more users to the machines. Western Union and Traveler's Express/MoneyGram certainly think so and it appears that both will soon implement such services. For their platform, MoneyGram has partnered with the Star network, which is owned by Concord EFS; while the Western Union product is not associated with any particular network but does require proprietary software to be installed on all participating ATMs that send and receive cash.


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:


Ongoing Operations


and their client is:

H E B 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

The Seventh Annual Billing Household Survey from Fiserv revealed that mobile bill payment use is growing rapidly among U.S. consumers, with 27 million U.S. online households now paying at least one bill from their phone, up nearly 70 percent over 2013. Smartphone bill payers paid an average of two bills a month from their phone. Among Millennials (Gen Y), 62 percent pay a bill using their smartphone, and Gen Y smartphone bill payers paid an average of three bills a month from their phone. The most popular bills paid via phone include mobile (15 million), cable (14 million) and electricity (8 million).

Mitek is a leading provider of mobile imaging software for financial transactions and identification. The San Diego-based company is offering these predictions of where mobile banking will go in 2015:

1. By the end of 2015, more than 50 percent of all financial institutions will offer mobile deposit services tailored to the needs to business customers.

2. Mobile Deposit Will Save Americans 282 Million Hours In 2015.

3. Mobile Wallets Will Prepare for Take Off In 2015 (But Don`t Leave The Tarmac).

4. Mobile Imaging and Proximity Marketing Will Bring Financial Services to Consumers Where and When They Need It

5. FIs Will Use Mobile to Push Personalized Service


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Security Section

ProcessUnity has introduced a new version of its vendor risk management system aimed at helping credit unions identify and remediate risks posed by third party service providers. Some of the features of the platform include:

- Vendor Services Catalog

- Configurable, Online Vendor Questionnaires

- Dynamic Reporting

Of the 30 critical-rated Microsoft Security Bulletins this year, 24 involved vulnerabilities where the best practice of "least privilege" would have significantly helped to block the issue. That is because least privilege can limit the impacts of malware and raise the bar of difficulty an attacker will have to overcome to move laterally from an initially compromised workstation to a server housing sensitive data. Least privilege environments can both hinder attackers and act as an early warning system that organizational breaches are under way.

According to a new report from Javelin Strategy and Research, “In Search of a Better Password Policy,” passwords will be in use for at least five to 10 more years, perhaps longer. Biometrics may eventually take their place, but until then the research firm offers two recommendations:

1. Blacklist common passwords

2. Require employees to change passwords every 30 to 60 days

They also recommended that credit unions encourage members to use password managers.



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Leaders Roundtable

Core Systems:

Using Core Systems to Enable Superior Financial Performance


Business Performance Innovation (BPI) Network -
Read Dave Murray's comments:

Celent -
Read Stephen Greer's comments:

Read Michael Nicastro's comments:

Corelation -
Read Theresa Benavidez's comments:

CU Answers

D+H -
Read Tom Berdan's comments:

Enhanced Software Products -
Read Matt Lefler's comments:

Share One -
Read Teri Van Frank's comments:

VSoft Corporation -  
Read Jon Barnard's comments:


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Technology and Marketing

Iterable is a San Francisco-based company that offers an automated email marketing platform. According to the company, engaging email campaigns are difficult to create for two reasons: 1) traditional Email Service Providers (ESPs), such as MailChimp, Responsys, and Sailthru, are difficult to integrate with other digital marketing tools, and 2) automating effective campaigns often entails marketing departments requesting assistance from IT departments in order to develop and deliver complex drip campaigns. They note that their platform is designed for non-coding-savvy marketers, and provides instant subscriber segmentation for identifying who should get an email; A/B testing that learns as you test and allows you to test any part of your email; and drag-and-drop drip templates that let marketers quickly create complex multi-step email campaigns.


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Online Banking/E-Commerce/Website Design

Mercator Advisory Group`s most recent Insight Summary Report from the CustomerMonitor Survey Series reveals that 56% of U.S. adults bought prepaid cards in year preceding the 2014 survey, up from 53% in 2013 and 47% in 2012. Prepaid cards are now far more than just gift cards, according to the 2014 survey data, which finds more consumers receiving funds on prepaid cards as incentives, rebates, refunds, and even payroll and money transfers than in previous years. Consumers are increasingly looking for prepaid cards that include: mobile apps, electronic bill payment, high-quality customer service, alerts, easy access to reloading, fraud protection, and rewards.

The Conference of State Bank Supervisors is recommending that states be able to decide which form of regulation to place on businesses that exchange, transmit, hold, and/or control crypto currencies. The requirements would cover wallets, vaults, merchant acquirers, payment processors, and kiosks. The framework also requires the retention of transaction-level data, including the names, street addresses, and IP addresses of parties in the transaction, which crypto currency industry members argue goes too far and is unworkable.


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

Industry analyst firm IDC predicts that the global cloud market, including private, public and hybrid clouds, will hit $118 billion in 2015 and crest at $200 billion by 2018. The hybrid cloud is especially appealing since it is a combination of using a private cloud and a public cloud, which gives organizations the security of a private offering and the low cost of a public offering. An IDC analyst noted that "security remains the number one brake on cloud adoption, but we see more CIOs recognizing that cloud providers offer some of the most secure IT on the planet."

Seventy-six percent of organizations in the U.S. and U.K. have suffered a DNS attack, with 49 percent experiencing one in the past 12 months, according to Cloudmark. The most common DNS issues reported were:

- DDoS (74 percent)

- DNS exfiltration (46 percent)

- DNS tunnelling (45 percent)

- DNS hijacking (33 percent)


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


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Call Centers

Some security experts contend that voice biometrics is a perfect fit for contact centers that handle phone-initiated wire transfers. Voice biometric analysis and voice prints are already successfully being used to identify both known fraudsters and legitimate senders. They argue that the technology is not only valid for wire transfers but is effective for "normal" events such as voice requests for password resets, change of address, card reissues, check orders, adding additional signers, replacement statement requests, registering for online banking, and even fraud confirmation calls made to the “customer” in account of take-over fraud cases.