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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.

March 17, 2014

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


General News  

* Symitar Adds 25 New CUs in Fiscal 2014
* Horsetail Technologies Gets 2nd Round Funding
* ESP Partners with FutureAdvisor
* Finger Lakes FCU Moves to Fiserv for Digital Banking

Jack Henry & Associates, a leading provider of technology solutions and payment processing services for the financial services industry, announced that their Symitar division has added 25 new credit union relationships for its core platform during the first half of the organization’s 2014 fiscal year, which spanned July 1 to Dec. 31, 2013, This new client list includes three CUs with more than a billion dollars in assets.

IT Services provider Horsetail Technologies announced that it has obtained an undisclosed amount through its second round of financing and will use the capital to fund the growth of their Technology as a Service program for their clients. The Baltimore-based company says that with Technology as a Service from Horsetail, credit union clients will know what the cost of technology is for each employee.

Enhanced Software Products, the Spokane, WA-based Data Processing Company, has partnered with FutureAdvisor to integrate their Wealth Management Portal into ESP’s Home Banking solution. FutureAdvisor is an online investment advisor that automatically manages investments and works with existing investments including 401(k) programs.

Fiserv, a leading global provider of financial services technology solutions, announced that Finger Lakes Federal Credit Union, a community CU with 15,000 members and $98 million in assets headquartered in Geneva, NY, has enhanced its digital banking and payment capabilities through the addition of multiple solutions from Fiserv. These include Corillian Online and Mobiliti for online and mobile banking, AllData PFM for personal financial management, and CheckFree RXP and Popmoney for bill payment and person-to-person (P2P) payments.




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

According to The Breakthrough Institute, a smartphone uses more electricity annually than a refrigerator. While smartphones obviously represent a tiny element of any organization’s IT infrastructure, data centers are a major component. The Power Usage Effectiveness (PUE) is a standard unit of data center electrical usage. The Green Grid defines PUE as the ratio of electricity used by the total facility to electricity used by IT equipment. The ideal PUE value would be 1, meaning 100 percent efficiency. Internet giants such as Google and Facebook track their PUE in real-time - you can actually see Facebook's Oregon data center's PUE on the Internet.

Sony and Panasonic have developed a next-generation optical disc for enterprise storage with an initial capacity of 300GB. It will have the same dimensions as current Blu-ray discs and be readable for at least 50 years. Dubbed the Archival Disc, it will soon expand to 500GB and then 1TB. The discs do not need a special storage environment with constant temperature or humidity, nor do they require air conditioning. 


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


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Software Updates

Accutive, a provider of IT services and products, offers a solution that helps credit unions access, extract and incorporate loan origination data and then distribute and publish that information easily for analysis such as: Cycle Time of a Loan, Number of Declined and Cancelled Deals, Task Effectiveness Report, Credit Policy Exceptions, Work in Progress reports, Exceptions, Turnaround Time for SLA tracking. The solution features a visualization tool and a Data Mart component that allows credit union employees to quickly analyze data and obtain reports.

CrowdStrike has released a new incident response toolkit designed to help organizations collect the data they need to analyze sophisticated attacks. The community software platform, called CrowdResponse, can be downloaded at no cost. The company said that the new platform will make it easier for organizations to collect incident response data and compare it to threat intelligence "indicators" that are associated with particular groups of attackers.



Software Updates Sponsored by
Raddon Financial Group (RFG)


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The ATM Industry Association and the PCI Security Standards Council have issued a joint official statement in regards to the end of support for Windows XP. They note that for ATMs still running XP that the PCI DSS Requirements 6.1 and 6.2 would not be able to be met without the use of compensating controls, at a minimum, to address the risks introduced. Individual controls may be combined to contribute to an overall compensating control. Examples include:

- active monitoring of system logs and network traffic

- properly configured application whitelisting that only permits authenticated system files to execute

- isolating the unsupported systems from other systems and networks

With assistance from NCR, a German savings bank is offering sophisticated kiosks and digital marketing in their branches. For example, consumers looking to purchase a home can search real estate listings on touchscreen kiosks and then request a financial consultation from a mortgage specialist for a selected property. The new Sparkasse Dachau branch has also deployed digital signage above their kiosks and ATMs to help their employees create cross-selling opportunities.


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:


Better Branches

Better Branches

and their client is:

Gulf Coast Community 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

About 7,000 financial institutions in the U.S. now offer mobile banking, according to the Aite Group. They are predicting a compounded annual growth rate of 32% through 2016 for mobile banking use. As for mobile RDC (remote deposit capture). the research firm thinks that by 2016, 47.5 million U.S. consumers will use mobile RDC, a significant increase from 11.8 million in 2012.

The AlixPartners Mobile Financial Services Tracking Study found that mobile banking is used by 28 percent of U.S. banking consumers, and that mobile banking capabilities played an "important" or "extremely important" role for 60 percent of smartphone and tablet users who switched primary FIs. Plus, the percentage of smartphone and tablet users of all ages taking advantage of remote deposit capture rose from 18 percent in early 2013 to 22 percent in the fourth quarter.

Juniper Research believes that host card emulation (HCE) and Apple’s iWallet will be the technologies that drive mobile payments forward in the short term. The market research firm predicts that contactless mobile phone payments will see a big surge in the coming years. Their recent report estimates that over $9.9 billion in contactless mobile phone transactions will seen in 2018, up significantly from the estimated $3 billion that will be spent using that method during 2014.


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Security Section

QualysGuard announced - in conjunction with the SANS Institute and the Council on CyberSecurity - a new service to scan for the Top 4 Critical Security Controls. The security firm claims that, historically, having these controls in place could have prevented 85 percent of breaches. The company also offers smaller organizations their vulnerability management system dubbed QualysGuard Express Lite.

McAfee Labs identified 200 new malware samples per minute, or more than three new threats every second, during 2013. The latest McAfee Labs threat report highlights the role of the "dark web" malware industry as a key enabler of the recent high profile point-of-sale (POS) attacks and data breaches. They believe that the technologies used in the Target breach were likely purchased "off the shelf" from the Cybercrime-as-a-Service community, and customized specifically for that attack.

MasterCard and Visa announced the formation of a cross-industry effort that will include financial institutions, retailers, the manufacturers of point-of-sale devices and a number of industry trade groups to improve the safety and security of card payments. The group will initially focus its efforts on the adoption of EMV chip technology in the US, but will also take up other security issues, including tokenization and point-to-point encryption.


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Leaders Roundtable


Addressing the Big 3: Compliance, Fraud & Cyber Security

D+H -
Read Jeff Marshall's comments:

DirectRM -
Read Donald E. Malloy's comments:

Easy Solutions -
Read Daniel Ingevaldson's comments:

Horsetail Technologies -
Read Mark Berman's comments:

Integrated Media Management -  
Read John A. Levy's comments:

Incapsula -
Read Marc Gaffan's comments:

LogRhythm -
Read Mike Reagan's comments:

Mimecast -  
Read Mounil Patel's comments:

Hyland Software -
Read Steve Comer's comments:

ProPay -
Read Dr. Heather Mark's comments:

Rallypoint Solutions -
Read Kris Zupan's comments:

SilverSky -
Read Andrew Jaquith's comments:

Spikes Security
Spikes Security -
Read Branden Spikes' comments:

TrustCC -
Read Andy Robbins' & Brandon Henry's comments:

Verafin -
Read Brendan Brothers' comments:

Wombat Security Technologies -
Read Joe Ferrara's comments:

Zerto -
Read Ziv Kedem's comments:


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Technology and Marketing

The Aite Group has released a new marketing report based on a Q1 2014 Financial Brand survey of senior marketing executives at 233 U.S. based financial institutions, They found that the most popular marketing channels in 2014 will be:

- online advertising

- mobile advertising

- social media

- email marketing

- onboarding programs

Meanwhile the least favored methods are:

- print advertising

- brochures

- billboards


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Online Banking/E-Commerce/Website Design

In an effort to help with KYC and AML compliance efforts, WAUSAU Financial Systems has introduced a new feature called Location Awareness. The new feature will track the IP address to determine the location of check captures and transmissions, and alerts the credit union if a capture is made from an unexpected location. The software will also be able to mark each transaction with a risk rating to help determine if it needs to be reviewed.

Verity Credit Union, with assistance from the social media service CafeGive Social, has increased the credit union's Facebook "likes" by 68% in a recent creative bicycle campaign. The Seattle-based credit union Roll on Seattle campaign had members send in photos of their favorite bicycles. Verity was offering bicycle loans ranging from $500 to $7,500. The Verity marketing team hosted the online campaign using CafeGive Social's Photo Contest App, a Facebook-ready platform that encourages participation through friendly competition and voting.


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Internet Access

SecuSmart will be rolling out a complete portfolio of anti-eavesdropping products, including the SecuGate LV telephony system and SecuBridge for secure telephone conferencing. SecuSuite for BlackBerry 10 was launched last year and encrypts both phone calls and data communications. It uses a microSD card with 4GB of flash memory for storing encrypted documents, and a smartcard chip that performs the encryption.

LifeSize, a division of Logitech, is a video and audio telecommunications company. Australia-based Holiday Coast Credit Union (HCCU) has deployed their video conferencing solutions with good results: 20 hours per week in savings in travel time, improved staff productivity, and a better member experience. The community-based credit union with 14 branches can now have multiple contacts dial in across their branch network to enable weekly sales meetings, branch management and board meetings and other activities. HCCU also has three additional video conferencing software licenses which are used by their directors and other remote personnel on their laptops or desktop computers for video conferences when working from home or traveling.


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Call Centers

Text messaging is the most common function currently performed on phones, outranking even voice calls. That is why some contact centers are looking to support SMS text messages. A well designed text messaging channel allows for automated interactions, providing some of the same self-service solutions that IVR systems, websites and mobile apps provide, as well as one-on-one support with an agent. Solutions like those from Colorado-based OneReach also allow for integrations with existing systems, such as hooking live text-to-chat into established agent chat tools or importing member data from the credit union's core system for self-service issues.