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January 20, 2014

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


General News  

* Business Alliance Financial Services Selects Harland's PhoenixEFE
* IMM’s Workflow Supports Veridian CU
* Four Credit Unions Select DNA
* Synergent Converts Fall River Municipal CU to Episys

Harland Financial Solutions, which was acquired by Davis + Henderson Corporation (D+H) in August of 2013, announced that its PhoenixEFE Core solution has been selected by Business Alliance Financial Services (BAFS), based in Monroe, LA. BAFS is a CUSO currently supporting 14 credit unions throughout Louisiana, Texas and Arkansas.

IMM, a provider of eSignature, workflow and document solutions for credit unions, announced that Iowa-based Veridian Credit Union has deployed TotaleAtlas Workflow. The workflow automation server enables the $2.4 billion credit union to customize and manage virtually any internal or member-facing business function within TotaleAtlas, IMM’s flagship eSignature and electronic document presentment platform.

Fiserv, a leading global provider of financial services technology solutions, announced that four Puerto Rican credit unions have selected the DNA account processing platform through USICOOP, a San Juan-based cooperative. In addition to DNA, the four USICOOP credit unions will implement DNAweb for online banking, Velocity for loan origination, Voice Response, and the CRM and business intelligence suite for DNA. Credicentro Coop will additionally implement Digital Document for DNA.

Synergent Technology Services announced that it recently successfully converted Fall River Municipal CU, located in Fall River, Lakeville, Assonet, and Swansea, Massachusetts, with 16,569 members and $216,967,083 in assets, to the Episys Core Processing System. The credit union has also converted to Synergent Electronic Check Collection and Share Draft Processing Services, and has implemented Jwaala Better Online Banking, Verafin, and Statement Processing.




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

The next generation of IBM's X-series servers will be able to accommodate solid-state Flash drives clipped into their DIMM memory slots. IBM just unveiled the Series 6 generation of its System X x86-based servers. In addition to the new reuse of DIMM slots, the X6 architecture will also let customers upgrade them to a new generation of processors or memory without swapping in a new motherboard. DIMM also supports the ability to write data to memory in parallel, which PCIe-based storage devices cannot do.

Millenniata is a global data storage company and the creator of the M-DISC, which they claim is the world’s first archival disc to last up to 1,000 years. The M-DISC engraves data into a patented layer on their disks that is resistant to extreme conditions of light, temperature and humidity. The company says that an M-DISC cannot be overwritten, erased or corrupted by natural processes, and is compatible with any DVD drive. 


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


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Software Updates

Wincor Nixdorf, in partnership with MXM, has developed an app that uses visualization technology that allows self-service devices to be projected into pictures of branches. Credit union employees responsible for setting up branches can obtain a picture of the redesigned branch environment simply and quickly on a tablet. Using various function options, the color of the system, for example, can be changed, people of different heights placed in front of the devices, to check the privacy protection, or the flooring in front the units changed.

VendorCamp offers a cloud-based vendor relationship management platform. It is designed to help credit unions securely store and manage contracts, assist with due diligence for compliance and purchasing, and provide a platform for sharing vendor experiences. Users can read and write reviews for any product or vendor, ala Angie's List.



Software Updates Sponsored by
Raddon Financial Group (RFG)


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Wincor Nixdorf announced the findings of a testing campaign with accredited PCI-qualified security assessor SRC Security Research & Consulting, designed to gauge the effectiveness of Wincor’s PC/E Terminal Security Software on ATMs running Windows XP. The independent auditor said that their research showed that ATMs protected by PC/E Terminal Security Software can obtain a PCI DSS Compensating Control to continue running Windows XP after the April 2014 deadline. Wincor’s PC/E Terminal Security Solution features: 1) Access Protection; 2) Intrusion Protection; and 3) Hard Disk Encryption.

Poland-based Bank Millennium now allows some of their customers to take out a small personal loan with a visit to one of their ATMs. Without the need to present any documents whatsoever, select customers can receive a loan in a few moments using the option 'Special Offer for Me,' which is displayed on the ATM screen. Qualified customers can get a loan of up to 2,000 zloty (app. $650) for a term of 24 months with the funds being distributed within a few minutes to the account linked to the card being used in the ATM transaction.


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:




and their client is:

Otis 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 Royal Canadian Mint unveiled government-backed digital currency, dubbed MintChip, back in 2012. The Mint hopes that Canadians will use a 'chip' to load value onto a device such as a smartphone, PC, tablet, or store it in the cloud, and then buy physical goods in the real world or digital content online. At the recent National Retail Federation Convention POS terminal maker Ingenico demonstrated how retailers can accept cash digitally at any Ingenico POS device.

Fiserv's 2013 Fiserv Billing Household Survey found that mobile bill pay usage has doubled among U.S. online households in one year, from 8 million in 2012 to 16 million in 2013. The survey also found that approximately 30% of U.S. consumers use their smartphone to pay bills. Finally, about 51% of respondents say they own a tablet and a fourth of that number saying they use their tablets to pay bills.


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Security Section

Juniper Networks announced its Firefly Suite for virtual-machine security, a set of software-based products for VMware and KVM. The suite includes Firefly Perimeter, which depending on a data center’s topology, could be used for segmentation in lieu of a physical firewall or in conjunction with it. The package also includes Firefly Host that acts as a stateful firewall between virtual machines, also providing intrusion detection, VM-specific antivirus protection, among other security features.

Smaller credit unions may want to look at D-Link's new mydlink Network Video Recorder with HDMI output (DNR-312L). Featuring an integrated HDMI port, the new recorder provides a standalone solution for viewing up to nine cameras on a connected HD monitor. The system comes equipped with a 1-Bay NVR Enclosure supporting up to 4TB of storage.

In an effort to prevent money laundering, JPMorgan Chase will now require all branch customers making cash deposits into consumer accounts to provide identification and be listed on the account. They will allow customers to add authorized signers to their accounts to help ease the transition. Personal check or money order deposits, as well as investment, treasury, and commercial accounts, will not be affected by the policy.


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Leaders Roundtable


Addressing the Big 3: Compliance, Fraud & Cyber Security

D+H - http://wwwdhltd.com
Read Jeff Marshall's comments:

DirectRM - http://www.directrm.com
Read Donald E. Malloy's comments:

Easy Solutions - http://www.easysol.net
Read Daniel Ingevaldson's comments:

Horsetail Technologies - http://www.horsetailtech.com
Read Mark Berman's comments:

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

Incapsula - http://www.incapsula.com
Read Marc Gaffan's comments:

LogRhythm - http://www.logrhythm.com
Read Mike Reagan's comments:

Mimecast - http://www.mimecast.com  
Read Mounil Patel's comments:

Hyland Software - http://www.onbase.com
Read Steve Comer's comments:

ProPay - http://www.propay.com
Read Dr. Heather Mark's comments:

Rallypoint Solutions - http://www.rallypoint.us.com
Read Kris Zupan's comments:

SilverSky - http://www.silversky.com
Read Andrew Jaquith's comments:

Spikes Security
Spikes Security - http://www.spikes.com
Read Branden Spikes' comments:

TrustCC - http://www.trustcc.com
Read Andy Robbins' & Brandon Henry's comments:

Verafin - http://www.verafin.com
Read Brendan Brothers' comments:

Wombat Security Technologies - http://www.wombatsecurity.com
Read Joe Ferrara's comments:

Zerto - http://www.zerto.com
Read Ziv Kedem's comments:


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Technology and Marketing

As fewer people come to the branch to simply transact, the concept of the "Universal Banker" becomes more important. Some marketing experts contend that credit unions must move beyond dedicated tellers for transactions and get rid of the division of labor between tellers and platform staff. However, many attempts to cross-train tellers to be more sales-focused have produced mixed results at best. That is why some argue for hiring branch staff with strong retail experience - Nordstrom, The Gap, Old Navy, etc - and then training them on financial products and services.


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Online Banking/E-Commerce/Website Design

Some security experts state that EMV cards and compatible POS merchant terminals alone would not have prevented a Target-style breach and that point-to-point data encryption is the answer. However, EMV supporters counter that encryption alone ignores EMV’s biggest security benefits. Certainly any type of card needs encryption at the earliest possible point, as well as tokenization. The Smart Card Alliance notes that EMV data is not the same data that fraudsters intercept from mag-stripe cards. Plus, if pilfered unencrypted information were copied and cloned from a chip card onto a counterfeit card, it would not clear the online authorization process. In other words, they contend that encryption is not a substitute for EMV.

Western Union's Bill Payments’ newest survey took a close look at Gen Y's financial activities. Here are some highlights:

  • 64%: Number of Gen Y’ers (GY) half or more of their bills electronically
  • 74%: Of GY prefer to receive paperless statements
  • 55%: Plan to pay more bills online in the next six months
  • 21%: The number of GY who have never written a paper check

TSYS announced plans to release TSYS Authorization Controls which is a product that enables credit and debit cardholders to turn their account “on” or “off” from any user interface. The firm says that their product can be integrated with existing mobile and other online customer service tools, and will help financial institutions empower their cardholders to manage their own account preferences and reduce fraud.


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Internet Access

Credit unions moving to IPv6 need to take into account the implications that this move has for their voice-over-IP (VoIP) systems. By some estimates, IPv6 will increase bandwidth by more than 15 percent. When the more advanced G.729 codec is used, bandwidth can increase by as much as 46 percent. However, the good news is that the added header information available through IPv6 can enable better quality of service for VoIP calls, as it can include information to help better route its data packets. That is because with this added header information, VoIP calls can be given priority on the network.

Prolexic announced that the consistently high level of distributed denial of service (DDoS) attacks worldwide in 2013 was maintained in the final quarter of the year. Attackers continued to favor launching Layer 3 and Layer 4 attacks targeting infrastructure elements. Infrastructure attacks accounted for 76% of total attacks during the quarter with application layer attacks making up the remaining 23%. The company also noted the use of mobile applications in DDoS attacks as an emerging trend, and that these opt-in apps can be downloaded from online app stores and no experience is required to use them.


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Call Centers

Vocalcom has launched new contact center software solutions that can be setup on-premise or via a cloud-based deployment. The contact center software uses a universal queue system that enables skill-based routing of voice, e-mail, social media and chat interactions. Other features include outbound automation and inbound interaction handling; inbound customer service and support; outbound sales and marketing, and automated blended operations. The all-in-one contact center software allows agents to call, email, chat, tweet, text and post from one place.