CU news Logo

 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.

June 30, 2014

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

 

General News  

* Better Branches Technology Enhances Teller Visit Recorder
* Symitar Refreshes Episys Marketplace
* Fiserv Converts Four Credit Unions
* Payveris and Geezeo Announce Partnership

Better Branches Technology, a provider of branch visitor queuing, appointment handling and workforce management software for credit unions, announced the release of an improved version of their popular Teller Visit Recorder. This module now includes an add-in for Internet Explorer which enables tellers to start and stop a "visit" with the click of a button. Teller Visit Recorder tracks every second of a member`s visit and delivers powerful reports to senior managers at the credit union.

Jack Henry & Associates' Symitar division has introduced the next-generation of its PowerOn Marketplace, which serves credit unions automated by the Episys core system as a collaborative environment for securely exchanging programs and applications that help improve system functionality and performance. The next-generation PowerOn Marketplace enhances the original offering with an array of contemporary features including the option for credit unions to sell their solutions to other marketplace users, the ability to request specific custom solutions, the ability to upload additional file types, and a utility to opt-in for monthly profiles of new and highlighted solutions.

Fiserv announced details of four recent core account processing conversions. Abri Credit Union adopted XP2; MIDFLORIDA Credit Union chose DNA; Southeast Federal Credit Union selected Portico; and Wauna Credit Union went with CUnify.

Payveris, a next generation online and mobile digital payments company offering a range of bill payment, money movement and interbank transfer solutions and Geezeo, a company that helps credit unions better engage members through digital channels, have announced a collaborative partnership. Under the terms of the deal, the companies will offer financial tools and services that enable members to more easily manage their finances.

~~~

 

 


Hardware News

Lexmark`s Perceptive Software and Source Technologies have launched Perceptive Secure Print, an integrated software and Magnetic Ink Character Recognition (MICR) printer solution that delivers secure printing for documents, such as checks, on an as-needed basis. MICR laser printers print the entire check, including the fixed data found on preprinted stock as well the variable data (e.g. payee name, legal amount, date, etc.). Perceptive Secure Print accepts secure file uploads from teller platforms, accounting, HR, payroll, and other systems.

The first 64-bit ARM processor was used by Apple in the iPhone 5S, but now small server makers Cirrascale and E4 Engineering will be the first to ship 64-bit ARM servers. The Cirrascale 1U server is for cloud and high-performance applications, while the E4 Engineering 3U server is for Web computing, analytics, etc. Additionally, Hewlett-Packard, Dell and others have plans to ship 64-bit ARM servers that could help cut electric bills in data centers. 

~~~

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

 

Back to Top


Software Updates

With extended support for Windows Server 2003 ending on July 14, 2015, some analysts argue that now is the time to start working on eliminating the old server operating system from the network. Through a partnership with AppZero, Dell is able to help customers do a full migration from old hardware to new hardware using Windows Server 2012 R2. Dell also has experience with System Center Configuration Manager and the Microsoft Deployment Toolkit (MDT) and can help customers build automated migration solutions.

In other Dell news, the company now offers a bundle of security solutions under the Dell Data Protection (DDP) banner. DDP, which is available on the company's business-class laptops, workstations and desktops, takes a three-pronged approach to user and endpoint security: file-level encryption (using technology from their acquisition Credant Technologies); authentication (via FIPS-certified TPM chips, fingerprint readers and smartcard readers); and malware prevention (using secure virtual container technology from Dell partner Invincea).

 

~~~

Software Updates Sponsored by
Raddon Financial Group (RFG)


Back to Top


ATMs/Kiosks

The ATM Industry Association (ATMIA) and Tremont Capital Group have released the “U.S. ATM Industry Overview,” an updated version of the ATM Deployer white paper first published in 2010. Key changes since the first report include:

  • The percentage of turnkey “placements” by the independent ATM deployer (IAD) has grown by 10% in the past four years.
  • Total expense as a percentage of transaction revenue has increased for all business models.
  • Regional density of ATMs has shifted slightly over the past few years, showing movement from Northeastern and Western states to Midwestern and Southern.



According to the 2014 Debit Issuer Study commissioned by Pulse, ATM withdrawals reached a study-wide low of 2.3 per active card per month. Large banks expect ATM transactions to continue to decline, but community banks and credit unions project increased ATM transaction volume as they seek to drive traffic from the branch to the ATM. Other key findings of the Pulse study:

  • 14 percent of all debit cards were exposed in data breaches in 2013, compared to 5 percent in 2012;
  • 84 percent of FIs reissued all exposed cards in response to the Target breach — typically only 29 percent reissue exposed cards as a standard response to breaches;
  • 86 percent of FIs said that they plan to begin issuing EMV cards in the next two years, a significant increase from 50 percent in 2012.

~~~

ATMs/Kiosks Sponsored by
Heritage Industries


Back to Top


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:

 

Synergent

Synergent

and their client is:

HRCU

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!
 

~~~

Back to Top


Wireless World

MiSnap SDK is the mobile capture component of Mitek's Mobile Imaging Platform. MiSnap provides real-time feedback to the user until a suitable image is detected, at which point it automatically captures the image. The company says that this feature eliminates fumbling with the phone and results in a higher quality check image.

SteadyRain, a mobile development and Internet strategy firm, believes that mobile bankers are looking for more than just account access on their devices; they are looking for a full suite of financial services through apps and mobile websites. The St. Louis-based firm recommends a few mobile banking application types that can make a difference:

- Personal Finance and Budget Apps

- Mortgage and Loan Calculators

- Credit Monitoring

- Small Business Accounting

- Business Traveling Expenses

~~~

Back to Top


Security Section

The FBI estimates 234,000 people have been hit with ransomware like CryptoLocker, CryptoDefense/CryptoWall and CryptoBit to the tune of $30 million in ransom fees in Sept-Dec 2013 alone. In response to this troubling trend, security firm KnowBe4 has come out with a unique guarantee: they will pay their client`s ransom in Bitcoin if they get hit with ransomware while they are a customer and their employees have stepped through their security awareness training. Complete details are available here: http://www.knowbe4.com/we-will-pay-your-crypto-ransom-if-you-get-hit-with-ransomware/

Some security experts believe that an emerging technology called “Runtime Application Self-Protection” (RASP) could someday replace firewalls. They argue that RASP, which is an instrumentation of runtime in servers or clients to protect applications against attacks such as SQL injection, cross-site scripting and unauthorized access, is basically a better approach than traditional firewalls. RASP server, client and mobile application products are available from vendors such as HP, Prevoty, Shape Security, Waratek, Bluebox and Lacoon Mobile Security.

Five hundred community FIs will be enduring the FFIEC's new cybersecurity assessment pilot program. The aim of the pilot program is to help smaller FIs address potential security gaps. The assessments will be conducted by state and federal regulators during regularly scheduled examinations, the FFIEC says. Areas of scrutiny include:

- risk management and oversight

- threat intelligence and collaboration

- cybersecurity controls

- service provider and vendor risk management

- cyber-incident management and resilience

~~~

Back to Top


Leaders Roundtable

Online & Mobile Banking:

Online and Mobile Banking – Improving & Bridging the Digital Channels

Bluepoint Solutions - http://www.bluepointsolutions.com
Read Andrew Tilbury's comments:
https://www.cunews.com/Bluepoint.pdf

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

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

Javelin Strategy & Research - http://www.javelinresearch.com
Read Mark Schwanhausser's comments:
https://www.cunews.com/Javelin.pdf

Mercator Advisory Group  - http://www.mercatoradvisorygroup.com
Read Pradeep Moudgal's comments:    
https://www.cunews.com/Mercator.pdf
 
PSCU - http://www.pscu.com
Read Jeremiah Lotz's comments:
https://www.cunews.com/PSCU.pdf



 

~~~

Back to Top


Technology and Marketing

PESTLE analysis, which is sometimes referred as PEST analysis, is a concept in marketing principles that is used as a tool by organizations to track the environment they are operating in or are planning to launch a new project/product/service etc. PESTLE stands for: P for Political, E for Economic, S for Social, T for Technological, L for Legal and E for Environmental. There are many templates available for organizations to conduct PESTLE analysis.

A new Pew Charitable Trust report on consumer experiences with overdraft reveals that many Americans remain confused about overdrafts. The report notes that more than half of those using overdraft protection don`t recall opting into it, and two-thirds of those with overdraft protection would rather be declined than pay the fee. It appears that overdraft coverage needs additional marketing because the product is not being positively received by many consumers.

~~~

Back to Top


Online Banking/E-Commerce/Website Design

Oberthur Technologies, a global supplier of EMV products and services, announced the launch of a new EMV website meant to educate U.S. financial institutions and consumers about EMV chip cards. The new website - http://www.oberthur.com/emv/ - addresses questions such as:

  • How does EMV work?
  • What is the case for EMV?
  • How do I migrate from magstripe cards to EMV cards?

Deluxe eChecks enable users to securely make and receive check payments entirely online, utilizing a virtual lockbox and virtual remote deposit capture system. They have added a Deluxe eChecks app that allows small business owners to send, receive and approve check payments from an iPhone or other iOS device. Recipients receive a legally valid check that can be used wherever checks are accepted.

Digital Insight is testing tools that take advantage of location technology to help credit unions understand members' needs so they can offer the right product or service as soon as the member walks through the door. Mobile ads could serve as calls to action, featuring discounts or videos or providing a means to connect members to specialists in the credit union's call center. Some marketers envision shoppers receiving location-based offers for auto loans when they walk into a car dealer and contend that such targeted marketing would be far more effective than running banner ads. Meanwhile, increases in direct deposits in online banking could trigger a personal loan offer.

~~~

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

 

Back to Top


Internet Access

GENBAND, a provider of smart networking solutions for service providers and enterprises, points out that the transition from the PSTN (public switched telephone network) to IP (Internet protocol) networks will be good for the environment. They state that PSTN phase-out options and new approaches for supporting network modernization would reduce energy and water usage costs by 70%; real estate by 85% and CO2 emissions by 40%. They note that smaller and more efficient IP equipment only requires about 15% of the space of traditional PSTN switches.

This year worldwide usage of IPv6 has grown to about 3.5 percent, up from approximately 1 percent in the beginning of last year. The newer version of the IP (Internet Protocol) adds an almost inexhaustible number of addresses thanks to a 128-bit long address field, compared to the 32 bits used by IPv4. As RIRs (Regional Internet Registries) start to run out of version 4 addresses, the need to implement IPv6 has become more acute. The RIR's job is to manage distribute, and register IP addresses within their respective regions. Remaining IPv4 addresses are now being rationed around the world, and RIRs can now buy and sell addresses, something that wasn't allowed in the past.

~~~

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/

 

Back to Top


Call Centers

By some estimates, traditional onsite contact center technology configurations can run up to $1,500 per agent per year with additional maintenance costs that run $300 per agent annually. Meanwhile, hosted solutions are much more affordable with little hardware or software investment, averaging around $600 annually per agent. Add on systems such as chat also show a wide range of costs from high-end chat systems that feature a preset knowledge base or the ability to learn new interactions by themselves running hundreds of thousands of dollars to very low cost systems such as Chatbot4u. This system allows you to add a "smart chat" function on your website for about $200 a year.

~~~