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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.

December 29, 2014

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

 

General News  

* Sharetec Adds Two New CUs
* Citadel Federal Credit Union Chooses Symitar
* CU*Answers Demos New External Data Warehouse
* Stanford FCU Selects nCino

Northern Data Systems (NDS), an owner and distributor of the Sharetec Core Processing System, announced it has recently signed two new credit unions: Massachusetts Family Credit Union and Chicopee Municipal Employees Credit Union. Massachusetts Family will be moving to a real-time processing environment for home banking and debit processing while implementing new services such as e-notices, e-alerts, e-signatures and Sharetec Mobile Banking. Meanwhile, CMECU will be utilizing Sharetec`s Document Manager with e-Loan Signature Capture and Teller e-Signatures along with Automated Loan Decisioning.

Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced that its Symitar division has signed the $2 billion Citadel Federal Credit Union to use their Episys core data processing system for in-house core processing. The Pennsylvania-based credit union had not made a core change since the mid-1980s.

CU*Answers, a 100% credit union-owned cooperative CUSO, is demonstrating My CU Today, a new data warehouse designed for the mobile credit union executive that wants to track credit union performance on a daily basis. The new product collects key credit union data from CU*BASE, the CUSO`s core data processing platform, and presents that data to users in ways that can be acted on quickly.

nCino, a provider of cloud-based operating solutions, announced that Stanford Federal Credit Union has selected its Bank Operating System. The company says that the $1.6 billion credit union will use the software to improve efficiencies in commercial lending and consolidate other disparate platforms to manage the complete loan process in one place.

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Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

 The 13th annual CU InfoSecurity Conference will be held June 3 - 5, 2015 in Las Vegas.

This is a one-of-a-kind conference - a security conference dedicated solely to credit unions. Highly experienced, expert speakers discuss the latest security trends as they specifically apply to credit unions. Also included is a virtual tour of F&A Federal Credit Union and a presentation by Alloya Corporate FCU. The CU InfoSecurity Conference is the only conference in the credit union movement that includes two nights lodging in a deluxe room as part of the already incredibly low price: just $595 per attendee and $495 for returning attendees. Topics include:


* Ransomware
* Securing VMs
* Cloud Security
* Breach Prevention
* Pervasive Security
* Device Configuration
* Compliant Social Media
* Transparent Encryption
* CU Virtual Security Tour
* Securing Virtual Branches
* Network Security Strategies

* Account Takeover Prevention

Click Here for information, agenda, reservations & more.

Also includes a behind-the-scenes tour of Zappos Headquarters - don't miss it!

Zappos

 


Hardware News

The Overland Storage V3 VDI server platform is a turn-key, purpose built appliance that is designed for the deployment/management of distributed virtual desktop environments. Each V3 appliance ships ready to drop into an existing VMware environment and the company claims that you can begin serving workloads in an hour or less and that the virtual desktop performance will be 200%-800% faster than physical desktops. You can also manage persistent desktops with their Desktop Cloud Orchestrator which creates, deletes, enables/disables or provisions them as failover/restore pools. Their three models support 50, 100 and 200 users respectively.

GRG is offering video teller machines that are designed to help with branch transformation projects and teller-less branch applications. The company says that their video banking solution uses video conferencing technology to integrate self-service and teller service, and can provide up to 95 percent of traditional teller transactions in a very small footprint. 

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

 

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Software Updates

Device Control from Kaspersky Labs is a tool designed to granularly control USB access. IT administrators can specify who, when and which devices can be used on their network. The rules can also be applied to more than removable drives, for example printers, CD/DVDs, non-corporate network connections, Wi-Fi, Bluetooth, mobile phones, etc. Every time a user attempts to connect a blocked device, a notification is sent to the Administration Server with specific details such as the time, name of the computer where the attempt was registered, type of the device, its identifier, and the account that initiated it.

Dell Wyse vWorkspace software is desktop virtualization (VDI) that is a central part of the company`s end-to-end Dell Wyse Datacenter for Microsoft VDI and vWorkspace desktop virtualization solution. The latest version, Version 8.5 of vWorkspace, now includes Dell's "freezer" technology, an HTML5 component that allows the solution to support more devices than before. The brand new feature leverages Microsoft Remote Desktop Services and RemoteFX technologies to deliver Windows desktops and applications to PCs, Chromebooks, tablets and other browser-enabled devices. vWorkspace 8.5 also includes improvements in secure access, which provides multiple layers of security via flexible policies.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

The Payment Card Industry Security Standards Council has released v2.0 of the PIN Security Requirements. To make it easier to digest, the council has included a Summary of Significant Changes document that provides a high-level look at the important modifications to the requirements. The incorporation of testing procedures into the requirements has resulted in two versions of the document — PCI PIN Security Requirements v2.0 and PCI PIN Security Requirements and Test Procedures v2.0.

The so called “Anunak group” in Russia has allegedly pilfered more than $15 million from Eastern European banks. According to various reports, they gained access to isolated bank network segments that handled ATM transactions and used malware — along with a modified legitimate program for managing ATM cash trays — to change the denomination settings on ATMs. This would then allow them to withdraw much larger amounts from the affected ATMs, e.g., receive 5000 ruble notes instead of 100 ruble notes.

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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:  

Stirling Systems Group

Stirling

and their client is:

Los Angeles Firemen’s 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 Royal Bank of Canada is rolling out a wallet based on host card emulation (HCE). RBC claims that their pilot is the first HCE service offered by a North American financial institution and that users can load credentials in less than two minutes 98% of the time. With HCE, issuers can let consumers load wallets with tokenized downloads from a cloud server rather than store card details on a SIM card embedded in the phone. HCE is gaining popularity due to Google's support of it and because it allows issuers to create mobile apps that don`t depend on business arrangements with mobile carriers or handset makers. However, only with phones using Android 4.4 or later can use the service. These devices account for 34% of all Android phones and tablets, according to Google.

Digital Insight is working with SAFE Credit Union to test iBeacons at one of its branches to get feedback from smartphone-carrying members about their experiences as they exit the branch. The idea is to get instant feedback from members to learn more about what they want, and to try a technology that blends two historically separate channels into one: mobile and the branch.

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Security Section

Lastline, a company founded by top security professors and advanced malware researchers, offers their Lastline Breach Detection Platform. The software-based platform provides detection of advanced and evasive threats across the enterprise: operating systems (OSes), physical and virtual hosts, services, users, network infrastructure as well as Web, email, content and mobile applications.

According to analysis conducted by Skyhigh Networks, the average FI had 844 cloud services in use throughout its network in the third quarter of this year. Of course, the majority of FIs would dispute this high number, but the firm claims that this figure is the result of employees using cloud services like Dropbox, Gmail, Evernote, Facebook, Box, etc.

A bot is malicious software that takes control over a computer and connects to a Command and Control (C&C) center for instructions from cyber criminals. Check Point has developed an Anti-Bot Software Blade that they say identifies bot infected machines in an organization by analyzing network traffic using their multi-layered ThreatSpect engine. They also state that their system prevents damage by blocking bot communication to C&C sites and makes sure that no sensitive information is sent out of the organization.

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Leaders Roundtable

Core Systems:

Using Core Systems to Enable Superior Financial Performance

 

Business Performance Innovation (BPI) Network - http://www.bpinetwork.org
Read Dave Murray's comments:
https://www.cunews.com/BPI.pdf

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

COCC
COCC - http://www.cocc.com
Read Michael Nicastro's comments:
https://www.cunews.com/COCC.pdf

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

CU Answers

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

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

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf




 
VSoft Corporation - http://www.vsoftcorp.com  
Read Jon Barnard's comments:

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Technology and Marketing

Diebold's digital mini-bank branch consists of two separate rooms, one for transactions and the other for consultation on loans, financial advice, investments, etc. For transactions, an Artificial Intelligence-based "teller" appears on a screen and uses speech recognition to handle basic transactions. Meanwhile, the consultative room connects members to a live video teller who specializes in the area the member is interested in discussing, or the product that they would like to purchase. The new prototype also supports NFC tags that permit members to use their smartphones or tablets to interact with it. Using Bluetooth beacon technology, the branch could also help identify members as they walk up.

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Online Banking/E-Commerce/Website Design

In an interview with CNBC, MasterCard's North American President predicted that about half the cards in circulation by the end of 2015 will be chip enabled and about half of the merchant terminals around the country will be EMV capable. In regards to mobile payments, Chris McWilton noted that "you're not displacing a terrible experience, and because of that it will take mobile commerce a little bit of time to get some scale."

Auriemma Consulting Group, a nationally recognized credit card valuation agent, has identified several factors which it believes will cause credit card valuations to decline. Of the threats to the business model for traditional card issuers, ACG is focused on the following:

- the inevitable increase in delinquency and bad debt expense as the business reverts to the long term mean for consumer credit performance

- the change in "lifetime" value of a customer brought about in part by the change in perception about use of credit cards versus debit cards among millennials

- the proliferation of alternative payment channels which will exert pressure on traditional card income as newer players enter the market and demand revenue participation

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Online Banking Sponsored by
PSCU

PSCU

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

Authentic8 Silo's browser is an "air gap" solution. In action, the software connects across the Internet to a Linux machine which then transfers data to the user's PC securely. The company says that with their platform in place malware or other executable files cannot access the user's PC. They also keep your business and personal data separate from the actual browsing session. Each time they launch Silo, users get a freshly built browsing environment with SSO links to provisioned apps. At session end, Silo is destroyed along with all transient browsing data, leaving the device and server stateless. Silo costs $15 per user per month.

By 2018, 78% of all workloads will be in the cloud, according to Cisco. They also predict that 70% of those workloads will be private cloud-related; cloud traffic will quadruple between now and then; and SaaS will remain the most popular service model. To advance the cloud, the networking giant has developed Intercloud which is a global cloud network capable of workload mobility between private enterprises and different providers. Currently, they have 45 Intercloud partners and expect that number to double by year end, 2015.

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Internet Access Sponsored by
Ongoing Operations

OGO

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.

and

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

 

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Call Centers

SRI International sold Siri technology to Apple in 2010. Now they have developed a new mobile-based virtual assistant named Kasisto that is geared towards mobile banking. Kasisto currently supports 75 banking use cases. The company claims that Kasisto can replace a call center agent and features the ability to scale to serve multiple customers at once 24 hours a day.

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