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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.

September 15, 2014

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

 

General News  

* Security Service FCU Invests in CU Wallet
* South Carolina FCU Signs 10 Year Fiserv Deal
* CU*Answers Announces Latest Release to Core Platform
* Michigan Schools and Government CU Selects iDashboards

CU Wallet, a collaborative credit union owned and directed mobile payments technology provider, announced that Security Service Federal Credit Union has made an investment and selected CU Wallet as its mobile payments and mobile wallet provider. Headquartered in San Antonio, Texas, SSFCU is among the top 10 largest credit unions in the nation, and is the largest in Texas, Colorado and Utah.

Fiserv, a leading global provider of financial services technology solutions, announced that South Carolina Federal Credit Union has renewed its agreement to use the Spectrum account processing platform. In addition to its in-house deployment of Spectrum, South Carolina Federal will add a host of Fiserv solutions including Corillian Online ASP, Mobiliti ASP, Popmoney and CheckFree RXP.

CU*Answers, a 100% credit union-owned core processor, announced it will be deploying its latest software upgrade to its flagship data processing software CU*BASE. New features include statement analysis and trending tools, improvements to underwriting tracking, and enhancements for auditing and compliance. This is the third major release that CU*Answers has done in 2014.

iDashboards, a leader in the Business Intelligence (BI) dashboard space, announced that Michigan Schools and Government Credit Union has selected iDashboards to create dynamic dashboards to track key performance indicators (KPIs). The credit union is now using dashboards to measure corporate and departmental metrics ranging from loan volumes to employee performance.

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Hardware News

Intel has designed its latest server chips to provide more processing cores, throughput and power-saving features. The Xeon E5-2600 v3 chips are the company's fastest server chips to date, and are the first server chips to support the faster-performing DDR4 memory and 40GB Ethernet. The fastest chips have up to 18 cores, and they support up to 45MB of cache. Hewlett-Packard, Dell, Lenovo, IBM, Huawei and other companies will soon announce servers based on Intel's new chips.

Western Digital's (WD) HGST subsidiary announced it has added 8TB and 10TB hard drives to its HelioSeal product line, which hermetically seals in helium in order to reduce internal drive friction and power use. WD also announced:

- its first NVMe (non volatile memory express) product with a PCIe-attached flash drive

- a new 2.5-in solid-state drive (SSD)

- a new "flash fabric" software and hardware platform that acts as a multi-server volume manager, linking up to 128 servers and 16 PCIe drives for up to 38TB of pooled flash storage 

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

 

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Software Updates

HP Enterprise Security Products announced HP Application Defender, software that when loaded as an agent onto Web or application servers, can detect and block attempts to exploit code vulnerabilities through the use of a technology known as “runtime application self-protection” (RASP). Vendors of RASP products say the they constitute a new security approach in which security software basically works as an instrumentation of runtime in servers or clients to protect against attacks such as SQL injection, cross-site scripting and unauthorized access. Some even claim that RASP could replace web application firewall security, and that it could be your primary source of defense for your web servers. Other vendors besides HP in the RASP market include Prevoty, Shape Security, Waratek, Bluebox and Lacoon Mobile Security.

NComputing, a well-known virtualization vendor, recently launched oneSpace, a unified workspace solution. oneSpace supports Single Sign On (SSO) access to workspaces and cloud apps and Active Directory (AD) integration. The company is targeting the Bring Your Own Device (BYOD) market and particularly small to medium size businesses.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Even though Home Depot contends that no debit card PIN data was compromised in their recent breach, some FIs are reporting increases in fraudulent ATM withdrawals. The pilfered card data stolen includes both the information needed to make counterfeit cards as well as the cardholder`s name and the city, state and ZIP of the Home Depot store from which the card data was acquired. This info helps the scammers locate the Social Security number and date of birth of cardholders which in turn can give them enough info to change the cardholder's PIN with a call to the FI's automated telephone banking system or to their call center. KrebsOnSecurity is reporting that some institutions have been victimized because they only require the cardholder`s SSN, date of birth, and the expiration date on the card in order to change the PIN.

Cummins Allison announced the addition of an automated deposit module for their full-function ATMs. The provider of ATMs and coin, currency and check handling systems said that its ADM simplifies the deposit process with a single-slot device that accepts up to 100 bills or 50 checks. All full-function ATMs offered by Cummins Allison are ADM-upgradable.

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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:

 

ARCA

ARCA

and their client is:

Y-12 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

Of course the biggest news of late in the mobile payments world is Apple Pay. Currently a handful of large financial institutions are lined up to participate in Apple Pay which uses near-field communication (NFC) technology, but analysts agree that there should be a place for all credit card issuers going forward. Naturally Apple will get their slice of interchange which is rumored to be around 15 basis points. In action, Apple Pay will not only use a cryptogram, but a token as well. Apple stores the token and cryptogram data on the phone in a “secure element” — which is a separate, secure chip within the iPhone especially dedicated to its security. The company is hoping that their use of fingerprint scans and tokenization that emphasize both security and usability will be enough to effectively jump start the nascent mobile payments ecosystem.

Given customer demand for increasingly high-risk mobile functionality, the Aite Group believes that credit unions have no choice but to evolve their mobile banking security controls and protect their mobile channel. The research firm in predicting the following rise in new mobile malware strains:

- 13.5 million in 2015

- 32.4 million in 2016 

- 51.8 million in 2017

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Security Section

3SI Security Systems recently rolled out their new NextGen3 Electronic Satellite Pursuit GPS tracking solution line. Dubbed Cash Tracker, the system uses the firm's third generation ESP GPS Tracking solution. The company says that the system now provides more ways for credit unions to trigger the device, an ability to pinpoint locations at a longer range, and a self-test health check and maintenance improvements that deliver greater reliability. According to the company, their devices currently result in apprehensions in 70% of cases and retrieval of assets in 87% of cases.

The recently launched Cyber Threat Alliance has been given a boost with the news that Intel's McAfee division and Symantec are joining the group. The organization, whose mission is to create a cross-vendor movement of threat data, plans to share threat data such as:

- malware signatures

- mobile threats

- botnet command and control channels

- patterns that indicate Advanced Persistent Threats (APTs)

Sony has launched new security cameras that can operate in very low light conditions thanks to infrared exposure technology. They have infrared light that shines on objects up to 100 feet away. The system, featured on the SNC-EB602R and SNC-EB632R cameras, can render details even when the ambient light is less than 0.1 lux. Another camera, the SNC-VB632D, features a powerful white LED illuminator that is triggered by movement.

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Security Section Sponsored by
KnowBe4

KnowBe4

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

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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

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

Email marketing pros agree that you must make it as easy as possible for people to get on your list. It is critical to place the subscription form on the most visited pages of your website, including the homepage. Some marketers advise putting the email signup above the fold within the header, as well as placing the form in the footer. Also, be sure to include a tab on Facebook that enables fans to sign up for emails and promotions.

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Online Banking/E-Commerce/Website Design

Visa Token Service replaces sensitive payment account information found on plastic cards with a digital account number or token. Visa Tokens will be made available to issuing financial institutions globally, starting with US FIs next month. Because tokens do not carry a member's payment account details, such as the 16-digit account number, they can be safely stored by online merchants or on mobile devices for e-commerce and mobile payments.

The Federal Reserve recently held a meeting to discuss ways to speed up payments. The roundtable determined that only five potential use cases, or 12% of the total payments market, would benefit from a faster payment system. The five use cases cited by the roundtable were the following:

- B2B payments, like just-in-time supplier payments

- B2P payments, like insurance claims, legal settlements, and temporary employee wages

- P2P transfers, like rent repayment to roommates

- P2B payments, like emergency bill payments

- unforeseen applications that will materialize once a faster payments solution is in place

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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

Dell's Chromebox for meetings is a cloud-based video conferencing appliance running Google's Chrome OS. It comes with an Intel Core i7 processor, 4 GB DDR3L RAM, HD (1080p) webcam, speaker with omnidirectional microphone, RF remote control with keyboard, and 16GB SSD. The Chromebox for meetings features 1 HDMI and 1 full size DisplayPort++ display port. The included software allows customers to configure the hardware and start a video conference. The Google Admin Panel can be used to configure devices, manage video conferences remotely, monitor usage and set security policies.

While more than 93% of Americans have access to a broadband provider, fewer than 15% can purchase service from more than two wired providers that offer "yesterday's broadband" with 4Mbps download speeds, according to FCC Chairman Thomas Wheeler. For faster broadband, the choices are even more limited: more than 19 percent of U.S. residents have no broadband provider offering 25Mbps service, and another 55 percent have only one such provider.

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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

Keeping agents happy and motivated is always a difficult task in any call center, but flexible scheduling is one tried and true option that has broad appeal, especially among younger workers. Some centers offer flexibility in that agents can work 4 x 10 or 4 x 9 and 4 hours on the fifth day. Others reward their top performing agents with "dream schedules" - name their own schedule and management does their best to match these requests with their operational needs.

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