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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.

January 27, 2014

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

 

General News  

* Corelation Adds CRM Module ‘KeyInsight’
* ARCA Brings Cash Recycler Assembly to USA
* CU*Answers Updates to CU*BASE to Version 13.3
* Bradford-Scott Gets Top Customer Ranking

Credit union core processor Corelation has added a new module to its core system: a CRM tool called KeyInsight. The new module can track every member interaction desired by the credit union, which allows it to build a trove of useful information to analyze, as well as streamlining access to member data across all branches and channels.

ARCA announced a series of investments to transfer the assembly of their CM18 cash recyclers from Italy to its manufacturing facility in Mebane, NC. The facility, which will produce the only cash recycler assembled in the United States, will be fully operational by April 2014.

CU*Answers, a 100% credit union-owned, cooperative data processing CUSO, recently updated its flagship core data processing system, CU*BASE to Version 13.3. Enhancements included with the free upgrade include: automation of loading imaged member IDs for staff; simplifies ID windows; allows greater security controls; creates new integration with third party vendors; greater 1098 reporting options; updated delinquent loan interest calculations; and changes how the system works with some third party debit and credit card vendors for automated funds holds.

Bradford-Scott Data Corporation, an owner/distributor of the Sharetec System, announced that their yearly Customer Satisfaction Survey Results show that their customers ranked them an average of 9.24 on a 10 point scale. The company noted that 2013 marked the 5th year in a row that their satisfaction score was over 9 out of 10.

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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

American Megatrends announced the release of its StorTrends 3500i SSD Array, which they claim is the first and only storage area network (SAN) to combine solid state drive (SSD) caching and SSD tiering into a single storage appliance. Optimized to support VMware, Microsoft Hyper-V, Citrix and RHEV enterprises of all sizes, the StorTrends 3500i is available as a hybrid or full flash array. The SAN storage solution features hot-swappable dual controllers with Active/Active or Active/Passive high availability and redundant, hot-swappable power supply units. The system virtualizes SAN management via a web-based console to simplify SAN volume creation, expansion and deletion.

Backblaze has more than 27,000 consumer-grade hard drives running in its storage facilities. The company has published the failure rates for a wide range of specific models in its storage pods and the winner is Hitachi. Over a 36 month span, Hitachi drives had a 96.9 percent survival rate, followed by Western Digital at 94.8 percent and Seagate way below that at 73.5 percent. 

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

 

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Software Updates

IxChariot Qcheck is a network troubleshooting utility from Ixia, the maker of network testing equipment. The software checks network response time, throughput, and streaming performance through a series of tests. It also runs “anywhere-to-anywhere” traceroute, Ixia claims. Qcheck runs on any computer running Windows 2000, NT or XP and is free.

Zerto recently introduced Zerto Virtual Replication (ZVR) 3.1, which builds on the advancements of ZVR 3.0 to centralize and simplify disaster recovery with improved scalability, maintainability and alerting capabilities. New features of ZVR 3.1 include:

- Increased manageability of alerts and events with a new centralized tab for better cause/effect analysis

- Expanded REST API capabilities for orchestration, events and alerts

- Improved environment maintenance using new VRA tabs and workflows

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

According to London-based strategic research and consulting firm RBR, the number of ATMs installed worldwide increased by more than 180,000 during 2012 to reach 2.6 million at the end of the year. However, low growth occurred in only two regions: Western Europe and North America. In fact, North America actually experienced a slight contraction in its installed base for the first time in 2012, with bank branch closures and a tighter regulatory environment taking their toll.

The CINEO C4090 from Wincor Nixdorf is a system that can provide a wide range of banking services both with staff assistance and on a self-service basis. The CINEO C4090 allows deposits and withdrawals of banknotes and coins, prints account statements and other documents, automates check processing and allows bills to be paid. It also has built-in barcode and NFC scanners. Plus, it comes with two 18.5-inch touchscreens at different levels to provide accessibility for the disabled.

Paydiant has been granted a US patent for a mobile banking feature that allows ATM users to stage withdrawals in advance. The technology has already been integrated into software at ATM maker Diebold and at Fidelity National Information Services Inc. (FIS). The company says that their app speeds up cash withdrawals while making them safer, since there is no need to enter a PIN at the ATM.

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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:

 

IMM

IMM

 

and their client is:

Red River 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

Picture Pay, the mobile photo bill pay solution from Allied Payment Network, is enjoying high growth numbers: FIs using the solution are seeing month-over-month growth of 5% to 15% in bill payments. Picture Pay automatically populates payee information so that consumers don't have to type in that information to make a payment. The system also saves payee information for future payments. The company notes that many Picture Pay users didn't use traditional bill pay before and that credit unions can offer expedited payments with the solution, for which they usually charge anywhere from $5.95 to $9.95 per payment.

By 2017, alternative payment methods such as e-wallets will be more popular online than credit and debit cards, according to research by Worldpay. The main driver is increased smartphone penetration which will accelerate the development of mobile payment services. Of the alternative payment methods currently being used, PayPal accounts for 57 percent of all on-card purchases, while China’s Alipay is second with 20 percent.

America's fourth-largest wireless carrier T-Mobile is getting into financial services with its new Mobile Money feature. With its mobile money management app linked to a reloadable prepaid Visa card, T-Mobile customers can deposit checks, make purchases, pay bills and withdraw cash without any fees assessed for activation, maintenance, in-network ATM withdrawals, or overdrafts.

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Security Section

Microsoft recently confirmed that it will continue to offer its malware scrubbing program to Windows XP users for more than a year after it stops patching the operating system. The Malicious Software Removal Tool (MSRT) is updated monthly as Microsoft targets specific major malware families it believes are the biggest threats at the time. Originally, Microsoft had said it would stop shipping Security Essentials' signature updates to XP PCs after April 8, 2014 but the software giant has postponed the cut-off until July 14, 2015.

Aorato has launched a new firewall designed to protect Microsoft Active Directory shops. The Directory Services Application Firewall the start-up has developed is intended to stop attacks directly on Active Directory as well as monitor network traffic between Active Directory servers and the users. The company says that their firewall, which comes as either an appliance or virtual-machine form factor for VMware or Hyper-V, can learn to detect anomalous behaviors that fall outside normal patterns that often indicate an attack.

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Leaders Roundtable

Security:

Addressing the Big 3: Compliance, Fraud & Cyber Security

>
D+H - http://wwwdhltd.com
Read Jeff Marshall's comments:
https://www.cunews.com/D+H.pdf

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


Easy Solutions - http://www.easysol.net
Read Daniel Ingevaldson's comments:
https://www.cunews.com/EasySolutions.pdf


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


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


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


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


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

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


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


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




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


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


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


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


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


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

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Technology and Marketing

MOGL is a restaurant loyalty mobile app that is targeting financial institutions. In action, users link their cards to the app and then get 10% cash back when they swipe their connected physical cards at participating restaurants and bars. There is also an option of donating the money to local food banks - users can pre-set the percentage of cash back to donate on the app. The company currently has more than 2,000 participating restaurants in California and Arizona, and is looking to expand nationally.

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Online Banking/E-Commerce/Website Design

According to Celent, the vast majority of RDC-deploying financial institutions still have not suffered any economic losses attributable to Remote Deposit Capture. Plus there is more good news: vendor solutions continue to improve at a rapid pace, particularly in terms of providing financial institutions with robust tools to manage risk. The end result is that are many FIs are gradually relaxing both RDC and mobile RDC eligibility criteria and deposit limits in response to consumer demand and favorable operational experiences.

Fiserv is incorporating gaming into their CheckFree RXP electronic bill payment service in an effort to make the bill payment process more intuitive and engaging. The new version of CheckFree RXP includes gamification in 3 ways:

  • A progress bar prominently shows a new user the “3 easy steps” it takes to get started with bill pay, including setting up their first payee and making their first payment
  • Tutorial elements instruct users on the type of information they should input in certain fields. This technique is similar to language that may appear when new elements in a game are introduced, providing a user the understanding to continue the game
  • More advanced features have been suppressed only to be “unlocked” or presented to a user once they become more familiar with electronic bill payment. Much like in a game, users aren’t dropped into a high level without first being introduced to basic features

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Internet Access

Time Warner Cable Business Class has added SIP (Session Initiated Protocol) Trunking to its portfolio. The new offering includes unlimited local calling, Caller ID, Inbound/Outbound Call Blocking, Calling Name and Number Delivery; business continuity features; a trunk administration portal for managing service features, accessing online call detail, and on-demand reporting; and flexible packaging options starting with as few as six call paths.

Shape Security announced their new technology they call Shapeshifter that they say helps prevent cyber-criminals from successfully attacking and compromising websites. In action, the Shapeshifter appliance is placed in front of a website, and every HTML page that is presented for viewing is subtly transmuted in its underlying code each time so that it won’t look the same twice. The firm says that this technique - dubbed “real-time polymorphism” - helps prevent attacks such as cross-site scripting or application denial-of-service attacks. It can be deployed to a single web page, such as to protect a login page, or across numerous web pages.

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Call Centers

Many contact center applicants are quite familiar with chat in a social context but not at work. Most call center experts recommend using chat role play as one of your data points for agent hiring decisions. Here are some things to look for when rating chat candidates:

- Did the applicant keep the conversation flowing with specific questions?

- Did they use professional and proper grammar and avoid jargon?

- Did the applicant respond in a reasonable time frame?

- Did the applicant correctly solve the problem the first time and provide a proper closing summary?

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