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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.

November 3, 2014

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

 

General News  

* Ongoing Operations Selected by Bluepoint Solutions for Platform Hosting
* Altamaha FCU Chooses Sharetec
* COCC and Vanguard Software Group Announce Strategic Alliance
* Symitar Introduces Episys Anywhere

Ongoing Operations, a leading provider of business continuity and technology solutions for credit unions, has been selected by Bluepoint Solutions, a leader in payment and content management solutions for financial institutions, to host their item processing SaaS offerings. These include both in-branch and remote deposit capture solutions and ImagePoint Hub for item aggregation and cash letter transmission.

Sharetec System, one of the fastest growing core systems, announced that Altamaha Federal Credit Union in Jesup, GA, has chosen Sharetec as their new core system. Founded in 1955, Altamaha FCU has approximately $57 million in assets and currently serves over 9,000 member owners in Wayne and Long Counties in Georgia.

COCC and Vanguard Software Group have formed a strategic partnership to deliver integration between LoanVantage, a leading Commercial Loan Lifecycle Management system and INSIGHT, COCC`s advanced core processing platform. The resulting integrated solution will enable COCC clients to standardize their Commercial Loan Processes including analysis, underwriting and review, better manage their growing Commercial Loan portfolio and actively pursue new market opportunities.

Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced that its Symitar division has introduced Episys Anywhere, a native app that enables credit union employees to conduct common branch activities on a tablet. Episys Anywhere creates mobility around new account opening and services existing accounts with remote check capture, account balance retrieval, transaction history reports, internal account transfers, person-to-person payments and bill pay.

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Hardware News

New power saving monitors are making it easier to lower energy bills. While some older displays may consume over 100 watts of power, this new generation of monitors use just a quarter of that. Assuming the display is used for 10 hours every business day and that power costs 12 cents per kilowatt-hour (the national average), the monitors listed below average an annual electricity cost of $9.32. Here are three examples of 27" environmentally smart monitors:

- AOC's E2752VH

- Dell's UltraSharp 27 UZ2715H

- Philips' 271S4LPYEB

Western Digital announced that it has added a 6 TB model to its line of WD Purple 3.5-inch hard drives. These drives are meant for 24/7 always-on video surveillance systems with up to 8 hard drives and up to 32 cameras. Customers can purchase this drive now through select resellers, distributors and the WD Store for $329. They feature the company`s proprietary AllFrame technology, which they say improves playback, reduces frame loss and enables the drive to work with seven additional WD Purple drives. 

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

 

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Software Updates

AutoHotKey allows you to define hotkeys for the mouse and keyboard and remap keys or buttons. The utility is open source software and is completely free for personal and commercial use. It unites hotkey and text macros and offers a scripting-language, which is more powerful than any batch file.

The Database Performance Analyzer from SolarWinds identifies SQL Server performance issues most impacting end-user response time. The package can analyze and optimize server and application performance based on queries, sessions, servers and storage systems. The software, which uses an agentless architecture, also analyzes baselines, alerts, and storage I/O details to help correlate resources with response time.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

ATM usage may rise this holiday season due to the fact that Americans are very worried about card information being stolen in a merchant data breach. In fact, they are so worried that this is their top concern over any other crime they were asked about in a recent Gallup poll. Sixty-nine percent of Americans reported that they frequently or occasionally worry about card data theft in a retail environment. Gallup suggested that concerns about card hacking might affect consumers' shopping habits and they may begin paying more frequently with cash or prepaid cards to protect their identity.

RESLAM provides a keyless, protected and controlled entry to high security ATM enclosures. The Reslam system is built on three elements:

- a mobile app that allows the ATM worker to enter a PIN and the lock code into the app - this info and the device's GPS coordinates are then sent to a secure server

- a secure server application that asks for the lock's GPS coordinates, verifies that the authorized worker is in the immediate proximity and checks other submitted information

- an internally installed Reslam lock system. Once codes and GPS coordinates have been verified, access to the enclosure is granted, and a record of the interaction is stored on the server

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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:

 

Telecom Recovery

Telecom

and their client is:

New Orleans Firemen's 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

Mitek announced the availability of tools dubbed Restrictive Endorsement that are designed to reduce fraud in the mobile RDC channel. Under Restrictive Endorsement, Mitek asks that credit unions require mobile remote deposit capture users to endorse their checks with specific language such as for mobile deposit only or for mobile deposit only at ABC Federal Credit Union. Mitek's algorithms could then check the deposited item for the prescribed endorsement.

The launch of Apple Pay is expected to drive adoption of NFC (Near Field Communications), according to Juniper Research. The research firm states that "Apple Pay will not only drive, but will create a ‘halo effect` towards contactless payment in general. We still believe that in most markets this will primarily be driven by contactless card transactions, but that the greater awareness of handset contactless payments that Apple will generate will, in turn, result in an uplift in adoption and usage."

MasterCard is promoting MasterCard Nearby, an app that locates MasterCard ATMs and merchants, to help consumers find nearby stores that accept contactless mobile payments. They have taken their ATM Locator capabilities and built them into the MasterCard Nearby app so consumers can download one app and have the ability to identify contactless merchants, ATMs, and cash back with purchase locations all through one resource. The app also helps consumers find locations to reload prepaid cards and get cash back with purchases.

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Security Section

Even if username, passwords, IP address, and device identification all check out, there could still be account takeover happening. That is why more FIs are looking at adopting behavioral authentication tools as part of their mobile security strategies. This software is able to capture a mobile user's behavioral footprint when interacting with a device, such as the tilt of the user's hold, typing cadence, and method of swiping, pinching, and zooming. Companies involved in behavior based profiling include BioCatch and NuData Security.

Research from Intralinks Holdings and Ponemon Institute found that file sharing poses a major threat to enterprise security, and that senior managers at organizations are having difficulty setting and enforcing effective policies to safeguard against data leakage. Half of respondents (51 percent) aren`t convinced their organizations have the ability to manage and control user access to sensitive documents and how they are shared. The research also showed that employees are acting badly when it comes to data sharing and collaboration, routinely violating IT policy in order to get things done faster.

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Security Section Sponsored by
KnowBe4

KnowBe4

We Will Pay Your Crypto-Ransom If You Get Hit With Ransomware

Question: With ransomware like CryptoLocker on the rise, what’s your only real defense against malware attacks… no matter what security software you’re using?

You know the answer: Training your employees how to recognize ‘red flags’ so they will be constantly alert to the threat.

Well, who better to train them than the man who was once the world’s most-wanted hacker?

You know the answer to that, too: No one. You need to do security awareness training to be compliant, so why not use the most effective program there is?

And, at KnowBe4, we’re so confident in the effectiveness of our Kevin Mitnick Security Awareness Training Program, we offer you a guarantee: If your employees have been through our training and you still get hit with ransomware, we’ll pay your ransom in Bitcoin while you’re a customer.

Sound good? Of course it does.

Learn more about our training and our guarantee, and find out just how affordable our program is for your credit union. Ask for your quote TODAY.

http://www.knowbe4.com/we-will-pay-your-crypto-ransom-if-you-get-hit-with-ransomware/

KnowBe4. Human error. Conquered.

 

 

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Leaders Roundtable

Core Systems:

Using Core Systems to Enable Superior Financial Performance

 

Business Performance Innovation (BPI) Network - http://www.bpinetwork.org
Read Dave Murray's comments:
https://www.cunews.com/BPI.pdf

Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

COCC
COCC - http://www.cocc.com
Read Michael Nicastro's comments:
https://www.cunews.com/COCC.pdf

Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

CU Answers

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

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf




 
VSoft Corporation - http://www.vsoftcorp.com  
Read Jon Barnard's comments:

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Technology and Marketing

According to proprietary analysis from Diebold, every branch should aim for a target of $10,000 in total deposit balances per-square-foot. The company analyzed more than 500 branches of all sizes across the U.S. and found that at this level, any particular branch may not necessarily be breaking even from an investment payback perspective, but it should be positively contributing to the financial institution`s profitability in the current period. Marketing teams would need to focus on acquiring new relationships and securing more deposits from current members for any branch that is below this number.

Chatter Yak! is a CUSO specializing in marketing, social media, website development and branding. Yak! Tracker is their premium contest application which allows credit unions to run contests on social media platforms. In October of 2014, the program allowed CitizensFirst Credit Union to close an additional $270k in loan revenue by generating leads through a Yak! Tracker based contest, bringing their total loans closed (year-to-date) to $2.1 million.

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Online Banking/E-Commerce/Website Design

According to a new survey from the FDIC and the US Census Bureau, the percentage of unbanked households in the US is on the decline. The survey found that 7.7% of US households are unbanked, down from 8.2% in 2011, the last year the survey was conducted. The study found that nearly one in four households had used an alternative financial services provider (such as a check cashing or payday loan provider) in the last 12 months. Unbanked households are the fastest growing segment for prepaid cards, the survey found. The percentage of unbanked households that had previously used a prepaid card jumped from 17% in 2011 to 27% in 2013. Prepaid card products could offer an opportunity to draw unbanked households into the banking system, the FDIC concluded.

Siegel & Gale has released a study showing that “financial disruptors” provide a simpler experience than traditional financial institutions. The brand strategists at Siegel & Gale believe that simplicity of message, use, and operations attracts consumers and leads to success. The top 5 financial disruptors were 1) Square, 2) Venmo, 3) Google Wallet, 4) PayPal, and 5) Ally. Overall the top rated brand out of all categories was Zappos.

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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

 

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Internet Access

Many security experts predict that attackers will increasingly use encryption in order to try to evade security products. In response, many organizations now want to have visibility on the encrypted traffic, so they are deploying SSL proxies, which are incorporated into a firewall or a load balancer. The proxy terminates the SSL session with a remote server which means that SSL traffic can be analyzed for traits that might indicate an attack is underway. Gigamon says that they can run many more security checks on the decrypted SSL traffic than their competitors due to the fact that they can divert SSL traffic and analyze it without disrupting the flow of data by creating a copy of it and subjecting it to many more analyses. Meanwhile, other in-line products tend to only have a firewall, an anti-malware scan and intrusion protection system to maintain performance.

Asterisk is a free and open source framework for building communications applications and is sponsored by Digium. Asterisk turns an ordinary computer into a communications server. Asterisk powers IP PBX systems, VoIP gateways, conference servers and is used by thousands of small organizations. The latest version is Asterisk 13 and includes improvements such as a new and improved Asterisk REST Interface (ARI), a re-architected bridging and media core, and remote administration enhancements.

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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/

 

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Call Centers

Scammers are increasingly taking aim at call centers as financial institutions tighten up their online and mobile banking security defenses. One method that they are using is to obtain phone numbers that are only one digit off from the numbers in use by the FI's branches and call center. They then setup automated answering systems to answer in the FI's name and offer "free gifts" such as cruises, vacations, gift cards, etc. Before they can receive the gift, the caller must provide their debit or credit card information. Some institutions have multiple numbers under attack, and many are warning consumers about these activities and reminding them to carefully dial their correct number on their website.

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