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

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November 24, 2014

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


General News  

* One Nevada CU Expands Partnership with IMM
* D+H Launches Updated Mortgage Reform School
* PSCU Saves Owners $100M in Fraud Losses
* Notre Dame FCU Becomes CU*Answers Owner

IMM, a leading provider of integrated eSignature, workflow and document solutions, announced that One Nevada Credit Union has expanded its eSignature environment with Document Exchange, IMM`s cloud-based remote eSignature service. Document Exchange enables the credit union to add remote eSignatures to its existing IMM in-branch eSignature solution, allowing members to truly sign forms, agreements and other documents at a place and time of their choosing.

D+H Corporation announced the launch of its updated Mortgage Reform School, a web-based program of on-demand webinars and downloadable articles, designed to help credit unions prepare for the upcoming changes to the integrated TILA-RESPA Final Rule. D+H's Mortgage Reform School examines the various requirements of the TILA-RESPA Final Rule, which will affect certain types of mortgage loans with an application date of August 1, 2015, and later.

PSCU's 800 member-owner credit unions have saved more than $100 million in declined fraud transactions over the past 12 months. The St. Petersburg, FL-based CUSO said use of custom fraud detection strategies, analytics and proactive account tagging and monitoring have delivered a fraud-to-sales loss ratio of 6.25 basis points, significantly lower than reported industry averages of between 11 and 14 basis points.

CU*Answers, the Grand Rapids, Michigan-based cooperative CUSO, announced that it had recently added another credit union owner. This newest investor is Notre Dame Federal Credit Union, located in South Bend, IN ($670M, 58,000 members).




Hardware News

Synology has released its newest Plus series DiskStations, the DS1515+ and DS1815+. Both multi-bay NAS (network attached storage) servers are designed to facilitate intensive data exchange, collaboration, and backups for smaller organizations. The units feature an Intel Atom processor C2000 family 2.4GHz quad-core processor with Intel AES New Instructions (Intel AES-NI) encryption, as well as a RAM module expandable to 6 GB for faster performance execution. Read speeds exceed 450 MB/s which makes both units adept at handling requests from a great number of users simultaneously, and they support Synology High Availability (SHA) which means users can take advantage of the units' multiple LAN ports to ensure high uptime and resiliency.

Look for Intel to shrink PCs to thumb-sized "compute sticks" in 2015. The compute stick will be similar to thumb PCs offered by PC makers with the Android OS and ARM processor. For example, Dell's $129.99 Wyse Cloud Connect -- which plugs into an HDMI port -- can turn a screen or display into a PC. Such devices typically don't have internal storage, but can be used to access files and services in the cloud. The Wyse Cloud Connect has Wi-Fi and Bluetooth. 


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


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Software Updates

Phoenix Interactive has released Xpression which is a solution that the company says will help with the branch transformation process. The software complements the in-line self-service experience with concierge capabilities, allowing branch staff to connect in real time to assist and support members as they complete their transactions. This assistance can be facilitated by one-on-one, proactive interaction support via portable devices in the branch or via a video/audio link that simulates the face-to-face banking experience.

IBM will be rolling out Verse which is similar to Google's Inbox, in that it attempts to automatically categorize incoming email based on both the content of emails and users` behaviors with the messages. Content shared between employees can be previewed without downloading, similar to Office 365's handling of common document types. Some of Verse's search and classification functionality will be powered by IBM's Watson machine-learning service.

Pandora Recovery is a free data recovery tool that utilizes a simple wizard for the recovery process. The wizard walks you through tasks such as checking the recycle bin and choosing a recovery method. The package offers three recovery modes: browse for individual files or folders, search by the file name, size, date, etc., or perform a deep scan. The deep scan is useful for identifying data fragments when the file allocation table has been corrupted.



Software Updates Sponsored by
Raddon Financial Group (RFG)

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The ATMIA announced the release of a new migration cost model for ATM deployers to use as a tool to calculate costs of different migration strategies to new operating systems. The model was developed in conjunction with financial institutions and a team of experts drawn from ATMIA`s various 2020 committees looking at the most optimal approach for the industry when support for Windows 7 OS ends a few years from now. The model offers the ability to compare four different migration scenarios from a financial perspective, based on a credit union`s typical cost drivers.

GRG recently showcased their latest machine at the FI Forum 2014 Conference. The intelligent cash recycling ATM provides automated deposit and withdrawal functionality and features a new appearance and improved user experience, the company said. Plus, the unit houses two display screens, one of which can be used for video conferencing or advertisements.


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:




and their client is:

Denali Alaskan 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

According to a survey from Phoenix Marketing International, less than a third of Americans would consider obtaining a mobile wallet app from Apple, while more than two thirds would trust an offering from a financial institution. As far as what cards people want to link to Apple Pay, 81% would like to use their current 'top of wallet' plastic, but three quarters want to add at least one more. Most of those questioned also want to be able to link debit or prepaid cards.

While Apple Pay has generated enthusiasm for mobile payments, Forrester projects that mobile payments will only account for 1 percent of the annual $16 trillion consumer payments in the United States. However, in-store mobile payments, including Apple Pay, will grow from $4 billion to $34 billion by 2019. Remote mobile payments, made over the Internet as an extension of e-commerce, is expected to grow from $43 billion to $91 billion, while peer-to-peer mobile payments, sending money person-to-person via a mobile phone, is expected to jump from $5 billion to $17 billion in the same time frame.


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Security Section

Some security experts contend that one of the best methods for detecting hard-to-find hackers, such as those using APTs, is through network traffic flow analysis or netflow. They contend that if you understand the legitimate, expected network traffic flows in your environment, it will make it much easier to detect abnormalities. StealthWatch is one netflow analysis tool that is available as a virtual or physical appliance. The netflows are collected, deduped, and organized by groups then used to generate a clear picture of the network traffic flows within your credit union.

Many insider threat incidents are caused by the negligence of employees enabling an outside attack, while others are planned malicious actions of insiders. Of the latter, one model that describes them is the Fraud Triangle developed by the criminologist Donald Cressey. His research found that many fraudsters were good citizens before they had a “non-sharable financial problem.” His Fraud Triangle model is directly derived from this research and consists of three elements: pressure, opportunity, and rationalization. The pressure is the reason for the act, the opportunity provides a possible solution and the rationalization justifies the act.

The CUNA Mutual Group has released their Risk Insight Dashboard which is an online tool that targets a credit union`s risk awareness in several key areas to help guide risk prevention decisions by management and boards. Credit unions complete an initial online assessment and then receive a custom risk rating of low, moderate, or high in various areas with a numerical scale of 0-100 based on their completed assessment. The dashboard covers five key risk areas:

- internal controls (cash handling and general ledger)

- lending oversight

- employment practices

- data/network security

- member authentication



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Leaders Roundtable

Core Systems:

Using Core Systems to Enable Superior Financial Performance


Business Performance Innovation (BPI) Network -
Read Dave Murray's comments:

Celent -
Read Stephen Greer's comments:

Read Michael Nicastro's comments:

Corelation -
Read Theresa Benavidez's comments:

CU Answers

D+H -
Read Tom Berdan's comments:

Enhanced Software Products -
Read Matt Lefler's comments:

Share One -
Read Teri Van Frank's comments:

VSoft Corporation -  
Read Jon Barnard's comments:


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Technology and Marketing

Branch transformations take on many variations, but one community bank has gone all in in an effort to get people to come through their front door. Pioneer Bank is developing branches were consumers can ship packages, process photos, and shop for locally made gifts and other merchandise, according to The Financial Brand. Proceeds from Pioneer`s in-branch merchandise sales will go to local charities that support services for children in the local community. As part of the conversion process, they are training staff on new service delivery methods using the universal banker model, as well as cross- and up-selling techniques.


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Online Banking/E-Commerce/Website Design

New research from Cisco reveals that consumers feel their digital banking experiences fall short of their expectations, which are increasingly being set by social media platforms, online retailers, and tech giants like Google, Apple, etc. Cisco's global survey shows that 43% of respondents believe their FI doesn't know them and can't offer personalized services to them. Meanwhile 31% said that they will look into other banking relationships because they don't think their FI is helping them reach their financial goals. American respondents ranked these services most important:

- 72% mobile payments

- 48% automated financial advice from their FI

- 54% remote video conferencing with a financial advisor outside of the branch

- 47% banking with a smartwatch

The Mercator Advisory Group Customer Monitor Survey Series states that debit card issuers have a significant opportunity to increase card activation and stimulate greater transaction volume by offering value-added services. The two most desired services were a valuable debit card rewards program and enhanced security. Of services consumers are willing to pay for, security and identity theft protection were the top two.


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

VoIP proponents like to point out that switching to Internet telephony can reduce communications costs by up to 80%. Yet it is critical to carefully scrutinize pricing because it is all too often not very transparent. For example, many providers offer introductory pricing and eventually dramatically raise rates in following years. There is also the danger of hidden fees and surcharges; e.g., you may quickly discover steep incremental charges for service add-ons that are must-haves for your credit union.

Microsoft's Unified Communications offering Lync will be updated in early 2015, and it will be rebranded as Skype for Business. The new version will include new client and server experiences and an update to Office 365. From a usage perspective, this means a Skype-like application in both desktop and mobile forms. The new Skype for Business will be compatible with previous Lync versions, and of course with Skype.


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


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Call Centers

At the recent Contact Center Demo and Conference, speakers covered a wide range of contact center topics including email support. One speaker noted three keys to enhanced email support:

1. Answer faster

2. Adopt a friendly, not stodgy writing style

3. Integrate self-service options by including links to appropriate web pages or knowledge base articles They also recommend making sure that your replies include the name and location of the service representative because people want to know that they are communicating with a human who can effectively solve their problem.