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 9, 2014

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

 

General News  

* Experian Launches Credit Insight Program
* Bluepoint Solutions Releases Teller Capture White Paper
* USAlliance FCU Installs HappyOrNot Service Kiosks
* MAP Releases Mobile Wallet White Paper

Experian recently announced its Experian Credit Insight Program, which currently is available for credit unions of all sizes and offers them an opportunity to provide their members with credit scores and credit education as an added-value with their online and offline credit card and account statements. The member receives not only their VantageScore credit score, but also a more comprehensive picture of their credit standing with insight into items from their personal credit report that influence their score the most.

Bluepoint Solutions announced the availability of a new whitepaper, β€œThe True Cost of Teller Capture.” The whitepaper presents six key features of teller capture solutions that can reduce the total cost of ownership for credit unions, and that can lead to reduction in fraud, shorter processing times, and improvements in employee productivity and member service.

USAlliance Federal Credit Union announced the successful trial and launch of HappyOrNot member satisfaction service kiosks at several of its branch locations in MA and NY. During the first 6 weeks of the trial, USAlliance managers tracked the results generated at each branch location to establish a base line of performance. They then began providing individual branch managers with daily HappyOrNot reports for both their branch and the other participating branches. Within a week of receiving the daily reports, the branch managers had identified and resolved any anomalies and member satisfaction ratings increased to near perfect levels.

Member Access Pacific (MAP), the nation`s only aggregator of the Visa Debit Processing Service platform for credit unions, has released a white paper on mobile wallet solutions for credit unions. It covers the options available to consumers and the forces that will shape the future of mobile payments.

~~~

 


Hardware News

Epson introduced a series of new color inkjet printers based on the company's PrecisionCore technology. Epson claims that PrecisionCore gives its inkjet printers several advantages over competitive offerings: better speed (at roughly 20 pages per minute, with faster warm-up time and instantly dry ink); increased accuracy; less ink usage; low power consumption; and better costs (the company claims 30 percent lower costs for comparable color laser performance). The WorkForce line starts with the $169 WorkForce 3620 and goes up to the $399 business-oriented WorkForce Pro WF-5690.

Intel is releasing a new family of performance solid state drives (SSDs) for the data center that use non-volatile memory express (NVMe) to access the SSDs through the PCIe bus. The three SSD data center series (P3500, P3600, and P3700) just announced are designed to provide high performance and low latency at reasonable price points. NVMe is a standardized interface specification for accessing SSDs through PCIe and avoiding throughput limitations of Serial ATA (SATA). According to Intel, the company's new NVMe SSDs can provide up to six times the throughput of 6Gb/s SATA drives. Capacities vary with each series and range from 400GB to 2TB. 

~~~

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

 

Back to Top


Software Updates

Troubleshooting application slow-downs and outages can be very difficult, especially in complex environments that use virtual desktops. The ExtraHop Operational Intelligence platform is designed to help with issues like these by analyzing all Layer 2 to Layer 7 communications, including full bidirectional transactional payloads. ExtraHop is able to perform wire data analytics at line rate β€” up to a sustained 20Gbps. When it receives the wire data traffic, it recreates the TCP state machines for every endpoint and reconstructs sessions, flows and transactions. It then analyzes the payload and content, extracting application-level metrics and infrastructure, network and transaction metrics for all tiers. It discovers and classifies devices based on ongoing analysis of MAC addresses, IP addresses, naming protocols, transaction types and other elements and then stores it for analysis.

Ayehu eyeShare is a powerful IT process automation solution. Some of the top IT tasks that IT Departments can automate include:

- Active Directory Password Reset

- Automate SQL Query

- Automate Service Restart

- File Automation

- Event Log Monitoring

 

~~~

Software Updates Sponsored by
Raddon Financial Group (RFG)


Back to Top


ATMs/Kiosks

NCR announced their Interactive Banker solution which includes two components. The first is an advanced financial services kiosk that alone can complete as much as 90 percent of typical branch transactions. The second component is sophisticated branch software installed on tablet PCs, freeing employees to roam the branch and assist visitors as they conduct transactions on the kiosks. NCR estimates that credit unions can eliminate teller counters, bank vaults and other back-office functions that take up to 70 percent of a branch`s floor space with the new platform.

ATM transaction data and uptime data can be difficult to consolidate and analyze. NCR and INETCO have partnered to offer an enterprise awareness software solution for ATM deployers that provides reporting on:

  • ATM deposit and withdrawal cash totals, broken down by currency
  • Number of withdrawals by members, broken down by debit and prepaid
  • Number of withdrawals by others, broken down by switch, card network, etc
  • Number of account to account transfers, balance inquiries, and statement requests

~~~

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:

 

Ongoing Operations

OGO

and their client is:

DuPont Community 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!
 

~~~

Back to Top


Wireless World

AT&T is looking to rollout a service that allows card issuers to access the location of a cardholder's phone to improve the accuracy of fraud prevention systems for transactions made abroad. The goal is to help card issuers make more informed decisions, such as whether to approve or decline purchases made abroad. The plan is to make it available in more than 150 countries, and cardholders will first have to opt in.

Not surprisingly, a new report from the Deloitte Center for Financial Services shows that fears about security are putting a damper on consumers' interest in mobile technology. Over 33 percent of respondents do not trust Wi-Fi and mobile network security, 28 percent are concerned about mobile devices being lost or stolen, and 20 percent believe there is a greater risk of identity theft with mobile transactions. However, close to 67 percent of respondents see value in biometric identification on mobile devices for ATM transactions and payments.

Apple's Touch ID, the fingerprint authentication system built into the iPhone 5S, will be open to outside developers in the next iOS update (v8.0 expected in mid-September). In action, app publishers, including financial institutions and wallet providers, will be able to use it to provide initial authorization into a secure app. Some industry observers believe that financial institutions will use Touch ID, as well as other handset-resident biometric systems, to deliver "read-only" access to data.

~~~

Back to Top


Security Section

Many security experts recommend creating a "zero admin" environment that essentially has as few permanent members as possible in any elevated group. The idea is that no person in your environment, including a super administrator, needs to do all the tasks that being a member of a super group allows. To accomplish this, organizations either apply delegation, where users are given individual sets of permissions to smaller groups of objects, or they use some sort of password vaulting software, where super admin credentials must be checked out on the fly, and even then, only for short periods of time. Another viable option is to use privilege management software from vendors such as Rallypoint Solutions.

Zwipe's on-card authentication gives credit unions the ability to upgrade their access control systems to biometric-capable systems practically overnight. Eliminating the need to swap out traditional card readers for biometric readers, Zwipe provides a solution for biometric access control. The contactless Zwipe biometric card reads the user's fingerprint and, once verified, sends a signal to the reader to unlock the door. This eliminates the risk of lost or stolen cards being used for unauthorized access, as well as strengthening the audit trail of accountability.

Socure is a new service that looks at social profiles to verify a user`s identity. For instance, if a user tries to create a credit union account, Socure will try to verify a user`s information using their Facebook, LinkedIn, Twitter and other social media profiles. The company uses a patent pending artificial intelligence system and proprietary machine learning algorithms with social behavior pattern analysis to detect if an ID is authentic, a fraudster or a bot.

~~~

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

In an attempt to win over consumers who don't write checks and don't want to worry about fees, KeyBank has launched a new "checkless checking" account. Key's research shows that 18 percent of individual customers never write checks. The account, unlike many other checkless checking accounts, doesn't carry any monthly fee, any minimum balance requirement, or any risk of overdraft fees. The account also allows free mobile deposits.

~~~

Back to Top


Online Banking/E-Commerce/Website Design

According to a USA Today survey, nearly 25% of American consumers have at least suspended their online buying due to security concerns in the wake of major retail breaches at Target, eBay, and other companies. The poll also found users are more closely monitoring their accounts for signs of intrusion, with 55 percent saying they are now checking banking, investment, and credit card sites more frequently.

Visa announced a new designation for consumer reloadable prepaid products in the US, aimed at simplifying fees and improving consumer protections. Qualifying cards must cover all basic activities with a flat monthly fee, and cannot assess fees for declined payments, for contacting customer service, or for using an in-network ATM to withdraw cash or check a balance. Additionally, they cannot charge for PIN- or signature-based transactions or for getting cash back when making a purchase. In addition, the cards must waive overdraft coverage and fees, carry federal deposit insurance, and offer simple and easy-to-find disclosure of terms and fees.

~~~

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

The global enterprise networking arm of Japanese carrier NTT has launched cloud-based network services, saying customers can now activate capabilities such as firewalls and application acceleration at their branch offices and for remote users without buying any specialized hardware. The telecom contends that their services can cut ongoing costs in half and reduce setup time to just minutes. The initial services are firewall, application acceleration, and IPSec (Internet Protocol Security) and SSL (Secure Sockets Layer) VPNs. NTT Communications used both SDN (software-defined networking) and NFV (network functions virtualization) to create the virtual infrastructure on which its new services run.

Cisco will target small organizations and individual video conferencing users with new desktop devices and a cloud-based service. The new products include the new DX line of video conferencing devices, which resemble all-in-one computers. They run the Android OS and have a large touch-screen display, integrated camera, microphone and soft phone. The DX 80 has a 23-inch touch screen display and has a starting price of about $3,000, while the DX 70 has a 14-inch touch screen display and costs about $1,000. Meanwhile, Cisco's new Collaboration Meeting Room (CMR) is a software-as-a-service video conferencing product intended to complement WebEx Meetings software by offering a more ad-hoc user experience.

~~~

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

Live chat allows agents to manage multiple service interactions at once. Some contact centers that are looking to expand their chat capabilities to other languages have turned to GeoFluent, a real-time translation solution from Lionbridge. The software uses Microsoft`s machine translation engine and Lionbridge`s language expertise to offer translations while maintaining brand identity and managing variations common in online communication (typos, slang and shorthand).

~~~