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

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July 14, 2014

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


General News  

* Ongoing Operations Partners with Digital FCU & Xand
* Terafina Rolls Out Omni Channel Sales Solution
* Four CUs Renew PSCU Bill Pay
* Eastern CU Cooperative Society Installs Symitar CruiseNet

Ongoing Operations, a leading provider of business continuity solutions for credit unions, announced a newly formed CUSO partnership with Digital Federal Credit Union and Xand, a top data center provider, to help credit unions in the northeast ensure uninterrupted member service. The Xand facility features a direct connection to Ongoing Operations' network.

A group of financial services experts have formed a new company called Terafina which will help enable credit unions to reach their members anytime, anywhere and through any device. This Omni Channel approach combines digital, call center and branch channels to create a common sales platform based on cloud technology and big-data capabilities.

Four of PSCU’s Member-Owner credit unions renewed their bill pay processing agreements, the company announced. The renewing credit unions include University of Kentucky FCU (Lexington, KY; $492M), Bright Star CU (Sunrise, FL; $423M), Orlando FCU (Orlando, FL; $180M) and Tampa Bay FCU (Tampa, FL; $214M). A fifth credit union, University First FCU (Salt Lake City, UT; $655M), signed a new long term bill pay agreement and joined the CUSO as a new member.

Jack Henry & Associates, a leading provider of technology solutions and payment processing services primarily for the financial services industry, announced that its Symitar division's client Eastern Credit Union Cooperative Society Ltd. ($254M) has selected and successfully installed the CruiseNet core processing solution in-house. Eastern Credit Union Cooperative Society Ltd., is the largest credit union in Trinidad and Tobago and the largest credit union to convert to CruiseNet.




Hardware News

Network Critical provides a range of network packet broker (NPB) solutions which provide granular visibility into network activity. NPB technologies intelligently direct the right traffic to the relevant network tools helping to optimize performance, compliance and deliver improved security insights. The company uses their Drag-n-Vu software technology, which drives their SmartNA-X and SmartNA-X HD devices, to help eliminate the risk of misconfiguration issues.

RRAM (resistive random-access memory) is a new form of nonvolatile memory that should be on the market shortly. It will be less expensive, smaller and more power-efficient than NAND flash, which is being used in solid-state drives and mobile flash drives. A startup called Crossbar announced a RRAM array for servers and appliances that will be able to store terabytes of data. Crossbar said its RRAM can be 20 times faster and more power-efficient than NAND flash. 


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


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Software Updates

Microsoft’s Active Directory Explorer is a viewer and editor for Active Directory databases. You can view object properties and attributes, modify permissions, and view an object's schema. It supports saving off-line snapshots, creating favorite locations, and saving advanced searches. You can also compare two Active Directory snapshots to see what objects, attributes and security permissions changed between them.

R.C. Giltner Services is offering software to credit unions that enables them to easily offer mobile and online checking accounts with no overdraft fees. Each FI chooses their price point, with the typical range being $9.95 to $19.95 a month. The company recommends $14.95 because their research finds consumers are willing to pay this amount.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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Skimmers have always been designed to blend in with any ATM they are attached to, but they are now reaching new levels of sophistication and miniaturization. ATM deployers in Europe have recovered a number of devices this year that were small enough to fit inside the ATM card slot itself. The ultra-thin profile of these "insert skimmers" are often pair them with hidden spy cameras that are equally difficult to spot.

Diebold and Wincor Nixdorf are establishing an industry association dedicated to improving ATM security. Through the association, the companies aim to compile information on recognized and potential attack scenarios on ATMs and share that information with specific industry groups to help rapidly develop and implement counter-measures at a global level. Participation is open to financial institutions, IT service providers, and global ATM manufacturers and their suppliers.


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:


Member Access Pacific


and their client is:

Connection 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 smart phone is the most rapidly adopted consumer electronic device in U.S. history. According to the latest report from comScore, 70% of U.S. mobile subscribers — or 169 million people — owned one by the end of May, up from 66% just since February. Apple retains its top market-share standing, claiming 41% of smart phone subscribers, followed by Samsung at 27%. The top operating system belongs to Google whose Android OS claimed a 52% share of subscribers, while Apple’s iOS came in second at 41%. Coming in a distant third was Microsoft at 3% and BlackBerry at 2%.

USAA is noted for their robust digital channels and they just expanded the capabilities of their mobile banking app. In a recent update, they added emergency alerts, which, if opted into, notify users of natural disasters and provide information and assistance when a disaster is in the area. In addition, their app now offers these features:

- the ability to monitor the value of a customer’s home

- the ability to share USAA documents from the app

- the ability to refinance the customer’s existing auto loan


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Security Section

SilverSky just released their semi-annual Financial Services Threat Report. Here are some highlights:

- Trojans remain the top threat category

- The most common potential compromise was the ZmEu vulnerability scan

- BlackHole has fallen from #1 in 1H 2013 to #9, following the October 2013 arrest of its co-creator

- Six out of the top 10 threats are new compared to one year ago

WideBand Corporation, maker of GoldKey Security Tokens, announced the launch of its new security system called Gold Security. The new system has been designed as a “drop in” to replace RSA tokens in secure authentication systems. Upon insertion of a GoldKey token into a user’s computer, the software auto-installs through Windows Update, and the user is prompted to create a new PIN for the token. Certificates are auto-enrolled, and GoldKey tokens do not require a central authentication appliance for token management.

Data breaches at retailers and financial services companies exposed 14% of all U.S. debit cards in 2013, according to a nationwide survey by Discover Financial Services' Pulse ATM network. The majority of affected cards were exposed in a single event: the Target data breach that compromised some 70 million customer records in late 2013. The survey also found FIs carried a fraud loss of 2.2 cents per signature transaction in 2013, compared with just 0.3 cents on PIN-based transactions.


Security Section Sponsored by


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Sound good? Of course it does.

Learn more about our training and our guarantee, and find out just how affordable our program is for your credit union. Ask for your quote TODAY.

KnowBe4. Human error. Conquered.

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Leaders Roundtable

Online & Mobile Banking:

Online and Mobile Banking – Improving & Bridging the Digital Channels

Bluepoint Solutions -
Read Andrew Tilbury's comments:

D+H -
Read Tom Berdan's comments:

Integrated Media Management -  
Read John Levy's comments:

Javelin Strategy & Research -
Read Mark Schwanhausser's comments:

Mercator Advisory Group  -
Read Pradeep Moudgal's comments:
Read Jeremiah Lotz's comments:



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Technology and Marketing

Affinity Plus is appealing to their bicycling members at one of their Minneapolis branches with a bike-thru only lane. The Twin Cities is considered one of the world's most bike-friendly cities, and the $1.7 billion credit union wanted to make their credit union more attractive to their two-wheeled members. The bike-thru only lane, which was suggested by staff members, features special signage to help bikers and drivers find their correct paths.


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Online Banking/E-Commerce/Website Design

Moody's Analytics said household credit on credit cards climbed 2.1 percent in May, marking the highest growth rate since the peak of the financial crisis. Analysts think that the resurgence in card use is due to two primary factors: an easing of credit standards at card issuers and improving consumer confidence. However, one Credit Suisse analyst is convinced that young adults are less interested in credit cards, and this generational shift is likely to endure.

Demand deposit accounts have historically been opened by consumers at branches, but increasingly consumers are going online. According to Mercator Advisory Group survey data, 24% of American consumers have tried to open a financial account online. That number increases to 31% doe younger consumers, and 37% for owners of smartphones and tablets.

Finger Lakes Federal Credit Union recently upgraded their digital channels with Fiserv products: Corillian Online, Mobiliti, CheckFree RXP, Popmoney and new personal financial management (PFM) tools. The results are impressive: 25% of their online banking users are taking advantage of the new PFM service; a 50% increase in mobile banking usage; and a 46% increase in bill pay usage. Additionally, members now have access to “family view,” allowing them to sign on once and view their family’s entire relationship across multiple accounts.


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

Comcast Business offers Business Voice Edge as a cloud-based solution, and it includes full-fledged PBX features, including UC and mobility. The company recently released results of a poll highlighting what capabilities users are looking for in their unified communications (UC) solution:

- 32% - Mobility features

- 26% - Ease of call management

- 22% - Scalability

- 17% - Business voice continuity

- 3% - Other

The majority of ultra-high speed Internet connections used by businesses require fiber-optic cabling, but Alcatel-Lucent’s Bell Labs division claimed this week to have reached 10Gbps using nothing but new transmission technology and ordinary copper wiring. Since fiber optic cabling is expensive to install, this technology, called XG-FAST, holds promise. Unfortunately distances are limited to a couple of hundred feet right now, but Bell Labs says that the technology will enable operators to provide Internet connection speeds that are indistinguishable from fiber-to-the-home services, a major business benefit in locations where it is not physically, economically or aesthetically viable to lay new fiber cables all the way into the building.


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


Contact us today:

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visit our blog for the latest BC/DR news:


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Call Centers

Some call center consultants believe that there is a better way to train and develop your employees: gamification. They contend that organizations that are replacing formal training with targeted gamification are reducing time-to-productivity for new hires by up to 50%. Gamification often entails earning badges, e.g., when an agent demonstrates a foundational knowledge of mortgages their intranet profile displays a ‘bronze’ badge, when they are fluent in CDs, they receive a 'silver' badge, etc.