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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.

February 10, 2014

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


General News  

* LorMet Community FCU Selects Sharetec
* 2 CUs Choose Symitar Episys
* KCUA and Nitro Mobile Form Partnership
* Ravalli County & Bitterroot Community FCUs Choose CU*NorthWest

LorMet Community Federal Credit Union of Amherst, Ohio, has selected Sharetec for their core processing needs. Sharetec is a leading provider of both in-house and service bureau core solutions and now services nearly 300 credit union clients.

Jack Henry & Associates announced that their Symitar division has signed the $140 million, Pennsylvania-based New Cumberland Federal Credit Union to their Episys core processing solution. Additionally, the $508 million, Arizona-based Credit Union West has selected Episys as its in-house core processing solution.

Nitro Mobile Solutions, a mobile banking solutions company, and Shared Financial Solutions, a wholly owned subsidiary of the Kansas Credit Union Association announced a strategic partnership. Under the deal, SFS will offer branded mobile banking applications powered by Nitro's mobile platform.

Ravalli County and Bitterroot Community Federal Credit Unions have each signed 5 year contracts to use the core processing solution CU*BASE GOLD. They will be the first Montana-based credit unions to utilize CU*NorthWest’s core processing product, CU*BASE.




Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

The 12th annual CU InfoSecurity Conference will be held May 21 - 23, 2014 at the Red Rock Resort in Las Vegas, NV.

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 The Partnership FCU and a Case Study of First Tech FCU. The CU InfoSecurity Conference is priced so that the majority of credit unions can afford it - just $395 per person and $295 for returning attendees. Topics include:


* Phishing 2.0 Exploits
* Anti-money Laundering
* DDoS Mitigation Strategies
* Advanced Log Management
* Effectively Using Data Feeds
* Owning Credit Union Networks
* Tuning Your Fight Against Fraud
* New Ways to Eliminate Malware
* Credit Union Virtual Security Tour
* Cyber Criminal Intelligence Programs
* Legal versus Enforceable eSignatures
* Building a Secure E-mail Infrastructure
* Next Generation Authentication Techniques
* Successful Security Awareness Training Programs

Click Here for information, agenda, reservations & more.

Hardware News

Dell announced Dell Wyse Cloud Connect, an ultra-compact device that delivers desktop virtualization to any HDMI- or MHL-enabled display. The device supports multiple use cases including mobile workers, digital signage, kiosks and other space-constrained environments. Dell says that it can deliver secure and easy remote connections to computers running Microsoft Windows. Cloud Connect is $129 per unit. Complementary Dell accessories including MHL-capable displays and Bluetooth keyboards and mice are also available.

An increasing number of IT vendors are viewing ARM chips, which are being produced in large volumes for smartphones and portable devices, as an appealing alternative to x86 chips. Currently, there are only three companies producing processors for servers: Intel, AMD and IBM. AMD just announced that they will soon start shipping sample 64-bit ARM processors, along with associated development kits, to their partners. The chips should be less expensive and consume less power while doing the same amount of work as current x86 chips. 


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


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Software Updates

Unison offers a collaboration and productivity package that is an internal social network that the company says can be up and running in 5 minutes. The service makes use of live updates, organized chat rooms, and an intuitive interface. The firm's goal is to "fix how people communicate at work, in a way that email can't."'s System Scanner Tool is a handy utility for working with RAM. It can be a real time saver, e.g., rather than opening up a machine to check its configuration, the System Scanner tool can provide numerous details. The tool can quickly tell you how many slots you have in a machine and even recommend the appropriate memory.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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The bad news for ATM deployers running Windows XP is that Microsoft's sunset date of April 8th is fast approaching, but the news is much better for those deployers whose ATMs are running a special XP version called XP Pro for Embedded Systems. That is because that version’s end of life is Dec. 31, 2016 - Microsoft will continue to issue security patches until that date. Some observers believe that a short time fix is to update standard XP to Pro for Embedded Systems, while others recommend foregoing this step and say you should move directly to Windows 7.

Mercuri Systems has developed a system dubbed Spare that they think is an alternative to ATMs. The start-up is testing the system at several Los Angeles-area hotels. In action, a Spare user enters a request for funds on their mobile app which is linked to a checking account. At the hotel, which is also linked to the Spare system, the user is given the requested cash when checking in because the hotel knows who they are and has seen the request for funds, which can be added to their bill. Convenience stores and restaurants are possible candidates for the system as well.

PAYe Network, which bills itself as the world's first and only global electronic funds transfer (EFT) network to offer a universal cash 'pay-in-pay-out' solution, has introduced the PAYe USA Network. They say that their system is enabled by a software upgrade that requires neither hardware modification nor host system development or certification. Through strategic partnerships, Pay-e Network states it can offer credit unions access to more than 1 million ATM and cash point locations worldwide.


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:


Connect Financial Software Solutions


and their client is:

Altra 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

RDM Corporation announced the new release of its Simply Deposit Mobile remote deposit capture (RDC) solution for mobile devices. The new release adds remittance and general document image capture with data entry capabilities. In addition to capturing and keying check amount and check data, smartphone and tablet users can optionally capture remittance documents and key data into customized entry fields.

Kofax has launched a mobile capture platform that they say will permit the rapid development and deployment of mobile capture apps. The company says that their platform is highly customizable and can handle check deposit, bill pay, document scanning for account opening and mobile loan origination, including mortgages.


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Security Section

The 2014 Identity Fraud Study released by Javelin Strategy & Research reports an increase of more than 500,000 fraud victims to 13.1 million people in 2013, the second highest number since the study began. Key findings include:

- The total dollar amount stolen decreased to $18 billion – significantly lower than the all-time high of $48 billion in 2004

- One in three people who received a data breach notification letter became an identity fraud victim

- Account takeover fraud hit a new record in incidence for the second year in a row and accounted for 28 percent of all identity fraud

Washington, DC-based Virtru is a security startup founded by a former NSA staffer. The company is looking to solve usability problems around using email encryption software. They say that their software works within the Gmail, Outlook and Yahoo webmail interfaces and doesn't need an external client. Senders must install a browser extension, which manages the encryption and decryption of content. Recipients can opt not to install the extension and read the decrypted content within a browser window. Plans are in the works to allow organizations to run their own key servers using Virtru's software.

The Target malware, a variant of BlackPOS which is part of a Trojan horse family known as Trojan.POSRAM, was memory-only malware. Many security experts believe that there is no need to worry about memory-only malware more than other malware programs. That is because most memory-only malware can't live through a reboot. Of course if you haven't fixed what allowed it to gain initial access in the first place, the malware may return and reload the code into memory. The other good news is that scanning memory for malware is a very fast process and in general memory-only malware is not harder to detect than other malicious programs.


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Leaders Roundtable


Addressing the Big 3: Compliance, Fraud & Cyber Security

D+H -
Read Jeff Marshall's comments:

DirectRM -
Read Donald E. Malloy's comments:

Easy Solutions -
Read Daniel Ingevaldson's comments:

Horsetail Technologies -
Read Mark Berman's comments:

Integrated Media Management -  
Read John A. Levy's comments:

Incapsula -
Read Marc Gaffan's comments:

LogRhythm -
Read Mike Reagan's comments:

Mimecast -  
Read Mounil Patel's comments:

Hyland Software -
Read Steve Comer's comments:

ProPay -
Read Dr. Heather Mark's comments:

Rallypoint Solutions -
Read Kris Zupan's comments:

SilverSky -
Read Andrew Jaquith's comments:

Spikes Security
Spikes Security -
Read Branden Spikes' comments:

TrustCC -
Read Andy Robbins' & Brandon Henry's comments:

Verafin -
Read Brendan Brothers' comments:

Wombat Security Technologies -
Read Joe Ferrara's comments:

Zerto -
Read Ziv Kedem's comments:


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Technology and Marketing

CUneXus offers a Comprehensive Pre-Screened Lending (CPL) system that they say answers the need for integration of advanced risk-based pricing automation, direct marketing communications, cross-sales tools, and delivery channel management. The system utilizes member relationship profiling and risk-based pricing criteria to preapprove individuals for an array of loan/credit products. It also manages the communication and acceptance of personalized multi-product offers at all key member touchpoints — online banking, mobile banking, in-branch, call center, direct mail and email.


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Online Banking/E-Commerce/Website Design

Some analysts are predicting that the open loop prepaid card market will evolve into two distinct business models this year. Those models are:

- prepaid cards will serve as portable bank accounts, offering numerous financial services to longer-term consumers

- prepaid cards will provide fundamental prepaid debit functionality for one-time use by anonymous consumers

According to research by The Street, most American consumers are unaware of Bitcoin and the concept of alternative currencies, and those that are aware of them are very wary of using them. The vast majority (76%) of the consumers surveyed in the study said they were not familiar with Bitcoin, while 79% said that would never consider using Bitcoin. Younger consumers, even though they were no more likely to be aware of Bitcoin than the older respondents, are more likely use crypto-currencies; 32% of 18-24 year old consumers said they would consider using an alternative currency like Bitcoin.


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Internet Access

Google has entered the videoconferencing market with the release of the Chromebox for Meetings. The search giant is touting the system as a low-cost, easy-to-use device for holding business meetings in any room. The wireless device, which costs $999, comes with everything but a display for holding meetings of up to 15 people on laptops, smartphones or tablets.

More than 90 percent of unknown malware comes via Web-browsing, according to data from Palo Alto Networks, and 68 percent of all malware is delivered to victims via browsing. That has lead to the growing popularity of secure browsers. Vendors such as Invincea and Bromium offer sandboxed and virtualized browser sessions. Another option is cloud-based secure browsers from firms such as Authentic8 and Spikes Security. These are container-based browsing solutions that help shield the endpoint and its data from exposure to malware or from inadvertently leaking sensitive information.


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Call Centers

Avaya announced the Avaya IP Office Contact Center offering multichannel contact center functionality to midsize organizations. The solution is purpose-built for the Avaya IP Office platform for contact centers with 5 -100 agents. Features include: support for multichannel inbound and outbound contacts (voice, email, chat); an agent interface to rapidly access customer information; call recording for every agent and flexible reporting; and support for a dedicated server or deployment in a virtualized environment.