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

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March 24, 2014

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


General News  

* 7 CUs Partner with Synergent
* Bradford Scott Hires 12
* ESP Partners with Nitro Mobile
* Police and Fire FCU Selects Symitar
* TSYS Announces Contract with Navy Federal

Synergent announced that the following CUs have signed agreements to implement a variety of Synergent`s offerings: Katahdin FCU and Otis FCU will implement Mobile Deposit Capture; Atlantic Regional FCU will implement Opening Act; Ocean Communities FCU will implement Shared Branching; and Pioneer Valley FCU and Town & Country FCU will implement Verafin`s compliance, anti-money laundering and fraud detection software. Additionally, Synergent Direct Marketing Services has signed a Master Service Agreement with NE PA Community FCU.

Sharetec System, one of the fastest growing core systems, announced that Bradford-Scott Data Corporation, an owner/distributor of the Sharetec System, has hired 12 more people in the last year to accommodate their growing needs. Last year Sharetec noted that Bradford-Scott also earned a customer satisfaction score of 9.24 out of a possible 10.

Enhanced Software Products, the Spokane, WA-based Data Processing Company, announced that they will integrate their platform with Nitro Mobile. The company said that the relationship will permit them to deliver a more customizable mobile application to their CU clients which includes Remote Deposit Capture capabilities.

Jack Henry & Associates, a leading provider of technology solutions and payment processing services for the financial services industry, announced that its Symitar division has signed the $4.2 billion Police and Fire Federal Credit Union to use Episys as its in-house core processing solution. The Philadelphia-based credit union has more than 217,000 members.

TSYS Merchant Solutions announced a new partnership with Navy Federal Credit Union designed to provide Navy Federal`s merchant members with the ability to accept credit and debit cards as payments for their goods and services. TSYS Merchant Solutions, a wholly owned affiliate of TSYS, is ranked as the seventh largest merchant acquirer in the U.S.




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

DFI Tech has introduced their new MK20 solution which is a 20-inch multimedia kiosk and digital signage platform. The MK20 interactive kiosk platform features include:

  • Integrated display and media player
  • Tiltable screen
  • Two cameras, a microphone and stereo speakers
  • Networking capabilities include gigabit Ethernet, Wi-Fi, and cellular communications
  • Projected capacitive touchscreen, which enables multiple touches, pinch and zoom, etc.
  • Optional card reader to accept payments

The DGS-1510 Series is D-Link`s latest generation of SmartPro switches with 10G port connectivity. Available in 16, 24 or 48 10/100/1000 Mbps port models, these switches also include 2 Gigabit SFP ports and 2 10G SFP+ ports. The DGS-1510 Series supports Auto Surveillance VLAN (ASV) and Auto Voice VLAN, which are best suited for VoIP and video surveillance deployments. The DGS-1510 Series also provides a D-Link Network Assistant Utility and a Web-based management interface that enables administrators to remotely control their network down to the port level. Here is the retail pricing: DGS-1510-20: $599; DGS-1510-28: $899; DGS-1510-28P: $1,099; DGS-1510-52: $1,639. 


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


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Software Updates

VMware has introduced software designed to make it much easier for its customers to store large numbers of virtual machines (VMs) created with the company's software. The vSAN software is built directly into the kernel of VMware vSphere, the company's virtualization OS. For users of vSphere, the software pools together internal storage, either hard drives or solid state drives (SSDs), on x86 servers. VMware has designed the software so it offers resiliency against server crashes. It also is capable of high throughput. VMware vSAN costs $2,495 per processor. A version for desktop computers cost $50 per user.

By some accounts, there are over 68 million Americans who have either no credit history or a poor one. In an effort to more safely lend to these individuals, some companies are using statistical modeling techniques to analyze large data sets, with the idea that weighing thousands of variables will let them better predict creditworthiness. However even with sophisticated big data modeling, companies such as LendUp, ZestFinance, and Think Finance claim that they must charge triple-digit interest rates to cover their high default rates. Yet some of these firms insist that they are better options than traditional payday lenders because they offer borrowers who repay loans more money at a lower rate, and do not allow borrowers roll over unpaid balances into new loans.

DigiCert has introduced Certificate Inspector which scans the user`s network detecting all certificates in use, their configuration and implementation, and then displays the results in an intuitive and interactive dashboard. The company says that their software helps IT Departments discover forgotten or neglected certificates, misconfigured certificates and identify potential vulnerabilities, such as weak keys, problematic ciphers and expired certificates.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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A company called Jojubanking has developed what they are calling the world's first solution that permits ATM cardholders to reclaim their card right at the ATM. Normally when an ATM retains a card for whatever reason, the accountholder must contact the credit union's call center to find out where and when to reclaim it. In action, the unit`s self-service mini card recycling module and accompanying software take the ATM user through a series of steps (determined by the credit union) to verify the accountholder and then return the card to the consumer on the spot.

Diebold has deployed a machine at Diebold FCU that operates without a card reader or PIN pad. The Mobile Cash Access wallet application, developed in conjunction with Paydiant, allows members to pre-stage cash withdrawals on their smartphones. The member scans a QR code at the ATM using their smartphone, and receives a one-time password which they type into the ATM using a virtual keyboard on the machine's touchscreen.


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:


Bluepoint Solutions

Bluepoint Solutions

and their client is:

Blue Eagle 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

According to the latest Adyen Mobile Payments Index, tablets increasingly are becoming the preferred device for high-value mobile commerce purchases. Adyen examined mobile payments transactions on its processing platform and found that average transaction values were higher for tablets, but overall transaction volumes continued to be higher for smartphones.

An executive with the Atlanta Federal Reserve Bank believes that mobile payments in the United States have not yet caught on because providers have not yet developed an overall package of elements that would create a compelling mobile experience for the user. David Lott points to an old Intel axiom that for a change to achieve mass adoption by consumers, it has to be at least 10 times better than consumers' current experience. He notes that to achieve the 10X factor for mobile payments, the following factors most likely will have to come to fruition:

- lower costs

- increased comfort with security and privacy

- new functionality

- enhanced user friendliness

- increased convenience


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Security Section

Internet Protocol Security (IPsec) is a protocol suite for securing Internet Protocol (IP) communications by authenticating and encrypting each IP packet of a communication session. Applications do not need to be specifically designed to use IPsec. A Windows Server can serve as the IPsec server and the client capability is natively supported by Windows as well. However, the encryption process can be quite an overhead burden on the network; effective throughput rates can drop dramatically. One other option for credit unions looking to encrypt their network traffic is to use a proprietary network encryption solution which uses a Layer 2 approach instead of Layer 3 like IPsec to help with reducing latency and overhead.

IBM introduced new software and services to help organizations use Big Data and Analytics to address the $3.5 trillion lost each year to fraud and financial crimes. Big Blue says that their "smarter counter fraud" initiative will aggregate Big Data across a variety of internal and external sources – including mobile, social and online – and apply sophisticated analytics that continuously monitor for fraudulent indicators. IBM will offer four levels of counter fraud capabilities as a service – including Hosting, Application Management, Behavior Modeling & Scoring and Analytics & Referral Generation

In an effort to combat the number of counterfeit £1 coins in circulation, the Royal Mint will launch a new £1 coin in 2017 which it claims will become the most secure coin in circulation. The 12-sided coin will use an Integrated Secure Identification System (iSIS) for security. It will replace expensive clad coins with a more affordable full-plated option, and will reportedly last up to 30 times longer than an equivalent value banknote.


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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

Approximately 41% of consumers opened a new banking product over the past year, and half of those people bought from their primary FI, according to research by Bain and Company. The management consulting firm also notes that about one-third of banking products in the U.S, are sold, not bought. In other words, consumers did not plan to buy a particular product, but they received an offer and then decided to obtain it.


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Online Banking/E-Commerce/Website Design

According to a new Javelin Strategy and Research report, 80 percent of online shoppers have used an online alternative payment service in the past 12 months, and 39 percent have used such an option in the past 30 days. Javelin estimates that major-brand credit cards owned 41 percent of the online payments market in 2012 compared to 32 percent for debit cards, 5 percent for private label credit, 6 percent for prepaid cards, and 15 percent for the alternatives. Javelin projects the credit and debit card brands' dominance will decline to 39 percent and 29 percent, respectively, with alternatives gaining a 20 percent share. PayPal has maintained its position as the leading alternative payment system, used by 87 percent of Javelin survey respondents.

Mountain America Credit Union just closed its first electronically signed FHA mortgages under the Federal Housing Administration's new e-sign policy, which is an industry first. The e-signing process speeds up funding of the housing transaction, and streamlines the normal hour long process of ink-signing down to about 15 minutes. The FHA's recently enacted e-sign policy permits mortgage lenders and servicers to use e-signatures on their documents for insurance endorsements, servicing and loss mitigation, insurance claims and real estate owned property sales.


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Internet Access

Cisco made a series of announcements about upcoming high quality video platforms designed to share video and content in rooms ranging from small to large, with solutions for the small business and large organizations. The Cisco TelePresence MX200, now in its second generation, is optimized for smaller rooms, as is the Cisco TelePresence SX10 Quick Set which converts standard flat panel displays into an HD video collaboration system. Meanwhile, the Cisco TelePresence MX700 and Cisco TelePresence MX800 are designed as the “performance line” for larger organizations.

Microsoft's Lync communications platform is making big gains as the IP PBX of choice, particularly in North America. Lync ranks 11th worldwide among IP PBX vendors, but comes in No.3 in North America among businesses with more than 100 phone extensions. Cisco ranked first worldwide, edging out second place Avaya by just 1 percent.


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Call Centers

By some estimates, over 90% of SMS messages are opened. SMS survey proponents tout the advantages of SMS surveys: it only takes seconds to respond a very short survey via SMS, and it can be done easily from any location. Another option to increase mobile response is to include in the message a link to a mobile web page to take a quick survey. If a member responds negatively to a survey, an agent can be alerted to quickly follow-up with a voice call to address their issues.