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* IMM Adds Numerous CU Clients
* InvesTex Credit Union Signs with Corelation
* First Credit Union Partners with AnyHour Solutions
* Allied Payment Network Launches PortalPay
IMM, a leading provider of integrated eSignature, workflow and document solutions for credit unions, announced its most recent CUs to sign on for Document Exchange, its cloud-based remote eSignature solution. They are: 1st United Services CU (Pleasanton, CA); Appalachian Community FCU (Kingsport, TN); Centris FCU (Omaha, NE); Chicago Patrolmen`s FCU (Chicago); Diamond CU (Pottstown, PA); Education First FCU (Beaumont, TX); Florida Central CU (Tampa, FL); Infinity FCU (Westbrook, ME); Missouri Central CU (Lees Summit, MO); National Institutes of Health FCU (Rockville, MD); Oceanside Christopher FCU (Oceanside, NY); PrimeWay FCU (Houston); South Jersey FCU (Deptford, NJ); Staley CU (Decatur, IL); and United Teletech Financial FCU (Tinton Falls, NJ).
Corelation, an innovative San Diego-based core processor, announced that they have signed InvesTex Credit Union ($177 million; 26,823 members). The Houston-based credit union recently signed with Corelation and will convert to the KeyStone core processing system in Q4 2015.
AnyHour Solutions, a provider of comprehensive call/contact center outsourcing services for credit unions since 1994, announced that First Credit Union of Chandler, AZ ($420M assets, 43,000 members) has now successfully implemented the full suite of AnyHour`s 24/7 call/contact center outsourcing member services as an integral part of FCU`s member service operation. AnyHour is providing their AnyHour MSR service via usage of their integrated call center software solution provided by KIVA Group.
Allied Payment Network, a provider of online and mobile bill payment services to the financial industry, announced the availability of its PortalPay solution, an online loan payments option that allows a credit union to accept loan payments through their website, from any internal or external checking account, without the need for an Internet banking user relationship. PortalPay enables members to make same day loan payments directly on their CU`s website using any checking account.
Hewlett-Packard has added two ARM-based microservers to their low-energy HP ProLiant Moonshot server family. The first of the two new ARM-based servers is the HP ProLiant m400 servers which are designed to save on power, cooling and space, with HP claiming up to 35 percent reduction in total cost of ownership compared to rack servers. The second new server is the HP ProLiant m800, a 32-bit ARM-based machine. The m800 is optimized for real-time data processing of high volume, complex data.
The Cyberoam's CR15iNG security appliance is designed and priced for smaller organizations. The appliance features firewall and intrusion prevention system capabilities, along with content security and a web UI. On the productivity side, the Cyberoam boasts content filtering and instant messaging archiving and controlling, along with IT resources such as bandwidth management, traffic discovery and application visibility and control. This entry-level UTM (unified threat management) device also allows administrators to identify users uniquely, control the network and Internet activity of the users, and enable policy-setting and reporting based on the username.
MasterCard announced the launch of SafetyNet, a global tool designed to reduce the risk of cyber hacking of FIs and payment processors. SafetyNet is complementary to the issuing FI`s own tools but adds a new level of protection into the payment system. MasterCard says that it monitors different channels and geographies, and provides the most appropriate level of support for each market and partner business, by using sophisticated algorithms.
GlassWire is a free network security tool tells a great deal about your network traffic on a specific server or PC. Graphs make it easy to tell apart outbound traffic from inbound traffic, and you can easily drill down and find out exactly which application(s) on your computer are causing spikes, and which Internet hosts they were communicating with. The Firewall tab lets you review the list of all apps communicating, each with its own miniature traffic chart. You can monitor over three hours, 24 hours, or an entire week's worth of network activity.
The ATM Industry Association (ATMIA) announced that it has released a new paper titled “An Industry Discussion: Should changes be made to Reg II in order to increase competition between payment networks?” The trade group recommends adding language to Reg II, prohibiting restrictions on ATM operator routing selection, between the networks enabled on an issuers debit card. They say that this would create new competition between networks for routing selection by those operators and result in downward pressure on network fees.
Triton Systems is rolling out Connect 6.0 which is the newest version of the company's remote monitoring software for ATMs. New features in Triton Connect 6.0 include:
- switch to SQL Server database
- the ability to create filters based on terminal parameters
- enhanced user and permission settings
- more efficient call scheduling between TCP/IP and dialup call processors
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:
A recent survey that polled 1,000 U.S. millennials (18 to 34) showed that this demographic increasingly prefers using image-based communication. While mobile RDC is the most common photo-based service, 45 percent of those polled would like to pay bills by taking a picture with their mobile device. Additionally, nearly half of the respondents indicated they would be willing to use more imaging services with their FIs, such as being able to snap a picture of a driver's license rather than using text to input personal information when signing up for a new service.
According to a Digi-Capital report, mobile commerce will generate an estimated $516 billion in sales over the next three years, representing more than 70 percent of all mobile Internet revenue. The company forecasts that all mobile Internet revenue will exceed $700 billion annually by 2017. Although the leading driver in this arena will be m-commerce, other drivers are expected to include mobile advertising, in-app purchases, an emerging app-as-a-service model with mainly subscription revenue.
Palo Alto Networks has introduced a new endpoint security technology named “Traps” that the company says provides advanced malware prevention. The software is designed to deal with the most important attack vectors such as memory corruption, changes in registry settings, and malware persistency, with no prior knowledge about the malware itself. The company states that because Traps integrates with their Next Generation Firewall it provides a vantage point across network and endpoint activities. The integration also ties Traps into Palo Alto threat intelligence.
The Aite Group just released a report on card security that states that devaluing sensitive data is the best offense in the cyberwar and that tokenization and encryption are key tools. Their survey found that 62% believe that point to point encryption is effective in reducing card fraud, while 50% believe that tokenization is also an effective tool. Only 26% of respondents have faith in EMV as an effective tool in battling card fraud.
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Using Core Systems to Enable Superior Financial Performance
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Read Jon Barnard's comments:
TD Bank is taking their employees on the road with excellent results. TD has equipped regular branch employees with tablets and set up pop-up-style booths at shopping malls and at other businesses. To date TD has seen five times the sales per employee than it would traditionally see at a branch. Employees were also selling 2.5 products per customer on average and 65 percent of the consumers stopping by such locations are new to TD. A spokesperson noted that people "really liked the idea of interacting with a tablet in a friendly way and a human who`s helping them. The branch can be right here. It can be everywhere."
Payment tokenization will be a key weapon in the fight to prevent fraud, according to a new study from the Federal Reserve Bank of Boston and the Mobile Payments Industry Workgroup. However, the Federal Reserve points to a spate of conflicting tokenization models and inconsistent terminology as barriers to adoption. The MPIW says it will establish a new tokenization subgroup to help resolve these issues, focusing on existing models, the relative benefits of static and dynamic tokens, risk assurance levels, preventing creation of fraudulent tokens, and matters concerning infrastructure, interoperability, and consumer usability.
Startup Epiphyte has won the Innotribe Startup Challenge at the recent Sibos conference. Epiphyte is deploying enterprise software that allows the pre-installed systems of financial institutions to interface to crypto-financial networks. The company says that their product provides credit unions with a low risk way to integrate with cryptocurrencies over traditional protocols.
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LogicMonitor released a free web-based IT ops tool called DNS Change Tracker. The tool tracks DNS changes in DNS zone files. Users can see a historical record of their DNS zone file and will be alerted to any changes. It provides DNS version control for organizations and ensures that every person in the operations team is alerted and aware of DNS changes, good or bad.
Cisco is expanding its ISR 4000 series devices with four more modular platforms that support hybrid WAN capabilities – the ability to turn up Internet and wireless 3G/4G links as backups or ancillary connections to primary MPLS circuits. The new modular platforms can scale from 50Mbps to 1Gbps. They all run the IOS XE operating system and run virtualized services in software. The four new routers are the 4431, 4351, 4331 and 4321.
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Linqto's Personal Banker app allows credit unions to add videoconferencing to their mobile banking apps. Call center staff at the other end of the video chat can give extra help to members struggling with a transaction or feature, or provide financial advice. The software automatically detects the member's device and network and compresses the video stream to an appropriate level for the bandwidth available. Personal Banker provides one-click access from a credit union's mobile app: members are not required to download additional software, set up an account, or enter an access code. Plus contact center agents can transfer sessions to any other employee across all branches if needed.