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August 24, 2015

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


General News  

* ESP Announces Client Successes
* Rate Reset & IMM Form Partnership
* MDT & PSCU Announce Partnership
* CGI Signs Northern Savings CU

Enhanced Software Products (ESP), the Spokane, WA-based Credit Union Core Data Processor, recently announced the positive growth results of a survey of their entire credit union client base. Their overall average financial and member growth numbers over the life of a credit union on their FORZA3™ core system are: 35% growth in number of accounts; 98% growth in assets; and 82% growth in loan portfolio.

Rate Reset, a provider of loan reset, acquisition and retention software for mortgages and auto loans, and IMM, a leading provider of integrated eSignature, workflow and document solutions for credit unions, announced they have formed a strategic technology partnership. This fall, IMM will introduce a new category of electronic transaction automation solutions, which will harness Rate Reset`s technology in combination with IMM`s eSignature platforms.

Member Driven Technologies (MDT), which performs processing for over 1.8 million members with combined assets of $17.5 billion, and PSCU, a CUSO which is owned by more than 800 Member-Owner credit unions representing 18.5 million credit, debit, prepaid, online bill payment, mobile and electronic banking accounts, announced a partnership whereby PSCU will provide call center support to MDT's roster of credit union clients. Under the agreement, PSCU will provide "Total Member Care" call center support to MDT clients going through core processing conversions.

CGI and Northern Savings Credit Union have entered into a 10-year agreement for the outsourcing of core banking services. In addition, CGI entered into a definitive agreement to acquire the business of Solutions Only Financial Solutions Ltd., a Northern Savings indirect subsidiary. CGI works with more than 110 credit unions across Canada, representing 3 million end customers.




Hardware News

Infrascale has a new Cloud Failover Appliance that offers push-button failover either to an on-premises appliance or to a remote location. The company claims that local recovery takes seconds, and they guarantee remote recovery for an entire site within 15 minutes. The Infrascale appliance provides DR protection among multiple sites, and offers double-blind encryption to secure both data in transit and data at rest.

Raritan's secure console servers deliver a single point of control to remotely manage servers, networking devices, security appliances, rack PDUs, virtual hosts, and wireless/telecom equipment via SSH/Telnet and Web browser. Raritan offers thirteen different 1U appliances to connect to 4, 8, 16, 32 or 48 serial devices. The new Dominion SX II features a 1 GHz processor with an 8-fold increase in memory, dual power supplies (AC & DC), dual gigabit LAN ports, auto-sensing DTE/DCE ports, 4 USB ports, laptop/KVM access, and port status LEDs. 


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


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Software Updates

Verismic offers an agent-less Cloud Management Suite that they say can be up and running in 30 minutes. Verismic started back in 2008 as a PC power management company but has now expanded into a complete IT management platform. The product is run out of Microsoft Azure and features a Patch Management Service. The platform is designed for organizations that have from 30 to 3000 endpoints that they want to proactively monitor and manage via a web browser.

Schneider Electric offers an online utility consumption measuring tool called StruxureWare Resource Advisor. This Software-as-a-Service (SaaS) platform allows you to monitors energy consumption on a monthly basis, project energy use and identify what branches are performing better than others. The company notes that the real-time view of energy usage for each facility can be helpful for setting goals and for decision-making on green investments. Some users are experiencing 10 - 15% reduction in energy use simply by turning down the heat or AC during off-hours and making sure the lights are off when the branch is unoccupied.

Boomerang Data Recovery is a handy tool for performing data recovery. It offers two main features: 1) it can rebuild a failed RAID array (this can be done manually or automatically) and 2) deep file type awareness - the software knows the difference between various file types and can search for specific types of data during a recovery. Boomerang Data Recovery sells for $99.95, but a free trial version is available for download.



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Some observers believe that prestaged ATM transactions are quickly reaching a tipping point. The QR code solution is the defacto standard right now, however NFC may catch on in the future. The problem is that NFC requires ATM hardware upgrades, while the QR code software approach is more economical and flexible. It also allows for geo-based triggers for ads, mobile coupons and personalized communication before, during and after the ATM experience. Some industry experts are predicting that rollouts of mobile cash access at ATMs will grow exponentially in the next year as both large and small FIs adopt the technology for consumer convenience reasons, as well as for the reduction in skimming possibilities.

The ATM Industry Association (ATMIA) announced the release of a new research paper, “U.S. Mobile Payments: Do They Disrupt Cash?” which examines the impact of mobile payments on the growth of cash. The report concludes that any share shift from cash to mobile between 2015 and 2020 will be negligible. They also believe that to the extent that mobile payments do take share from other forms of payment going forward, it will be from electronic payments.




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:

Texas Workforce 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

The newly published 2016 Mobile 500 report projects that m-commerce will grow nearly three times faster than U.S. e-commerce overall in 2015. In fact mobile commerce now accounts for nearly one third of all U.S. e-commerce sales. Further proof of m-commerce's huge reach is demonstrated by the fact that 76% of Facebook`s and 88% of Twitter`s ad revenue last quarter was on mobile.

Some industry analysts are convinced that you simply cannot engage mobile bankers multiple times per day with a traditional login that requires a username and password. They argue that you must move forward with biometrics (e.g., TouchID on iOS) or for non-biometric handsets and/or users, a better alternative is a 4-digit PIN entry. Westpac New Zealand has gone so far as to develop a “Cash Tank” app that allows its users to quickly check their available balance on their smartphones, without having to log into their account.

In a related story, First Tech Federal Credit Union announced a pilot program with MasterCard that will enable First Tech employees to authenticate and verify transactions using facial recognition and fingerprint biometrics. Dubbed “Selfie Pay” by industry observers, this initial test will be conducted in a closed environment where First Tech employees will use artificial funds and biometrics. The pilot program will run in September and October and include over 200 credit union employees. Pilot participants will use smartphone apps to make virtual donations to the Children`s Miracle Network (CMN) Hospitals, all authenticated by facial recognition or fingerprint biometrics.


Wireless World Sponsored by
Member Access Pacific (MAP)



The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
contact us now to learn more about this market-leading innovation for credit unions:

(866) 598 - 0698

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Security Section

Emailage is a fraud prevention company that helps organizations underwrite risk simply by analyzing email addresses, with no further personal information required. They have access to more than 4 billion email addresses, 25 million of which are associated with fraud. If an email address in a client`s list is associated with fraud, Emailage flags it and assigns a risk score. The company says that their system can be used for account onboarding; P2P money transfers; and account maintenance for existing members.

Device Guard is a combination of enterprise-related hardware and software security features that, when configured together, will lock a device down so that it can only run trusted applications. Device Guard uses the new virtualization-based security in Windows 10 Enterprise to isolate the Code Integrity service from the Microsoft Windows kernel itself, letting the service use signatures defined by your enterprise-controlled policy to help determine what is trustworthy. In effect, the Code Integrity service runs alongside the kernel in a Windows hypervisor-protected container. Device Guard restricts the Windows 10 Enterprise operating system to only running code that is signed by trusted signers, as defined by your Code Integrity policy through specific hardware and security configurations. To get Device Guard working, a supported IOMMU setup must be present in the PC: Intel calls its IOMMU tech VT-d, while AMD prefers AMD-Vi.


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Leaders Roundtable

Online and Mobile Banking:

Using Digital Technology to Create Value for Members

Cognizant - http://www.cognizant.com
Read Steven DeLaCastro's comments:

D+H - http://www.dh.com
Read Nigel O. Prince's comments:

IMM - http://www.immonline.com  
Read Nish Shah's comments:

Javelin Strategy & Research - http://www.javelinstrategy.com
Read Mary Monahan's comments:

PSCU - http://www.pscu.com
Read Jeremiah Lotz's comments:



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Technology and Marketing

Blogs can be good tools for attracting new members that are searching for a credit union in their area. Google, Yahoo and other search engines reward sites that are consistently adding new and fresh content to their website, so a blog can help with your search engine rankings. However, coming up with new blog content can be a daunting task. One area of topics comes from your contact center - what types of questions are they receiving? You can use your blog as a place to give in-detail answers to frequent member questions. Likewise if you offer search capabilities on your website, you can use those queries as a good starting point. You can also use your blog to introduce new employees, and the old standby - provide educational information to readers on simple financial topics.



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Online Banking/E-Commerce/Website Design

Most websites require visitors to use an ATM/Branch finder to locate the closest branch or ATM. However, Umpqua Bank has bypassed this step by using visitor IP addresses to showcase branches in their vicinity. If you grant permission, they show you the exact branch - name, address, contact info, etc. - closest to you.

American Express claims that they have rolled out the first prepaid card dubbed Serve that offers 1% cash back. Cardholders can see their cashback balances online or on the Serve mobile app and choose to redeem the value right away or hold onto the balance. Serve customers also have the opportunity to use direct deposit to their cards, use online bill pay, and withdraw cash free from 24,000 MoneyPass ATMs. The monthly fee for Serve cards is $5.95.


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Internet Access

Ad blocking software can significantly reduce the amount of network traffic consumed by advertising, especially auto-playing videos. Plus, they can also act as malware protection. Malvertising is defined as crafted advertisements that intentionally infect the computers of anyone who visits the site. Adblock Plus and other ad blockers prevent the ads from playing, so no payload is delivered to your PC.

Verizon has finished field tests of a new fiber optic network called NG-PON2 (next generation passive optical network) capable of 10Gbps, or 10 times the speed of Google Fiber and other currently-available high speed networks. A popular Verizon FIOS service now offers 75Mbps speeds, so this new service will be a huge increase. Businesses gain the advantage of greater reliability since data will move over multiple channels in a single fiber optic cable, Verizon said. The technology has the capability of growing to as much as 80Gbps by simply adding new colors of light onto the existing fiber, each color augmenting the capacity by 10Gbps.


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Call Centers

In voice-only call centers, agents handle one call at a time so measuring productivity is fairly straightforward. However in contact centers where agents may be handling multiple chats and emails at the same time, measuring productivity is more difficult. Some contact center experts recommend one good way to measure this type of agent's productivity is to take the hourly rate of the agent and divide it by the number of transactions completed in that hour, which gives the cost per contact. They point out that when you compare these statistics with a voice-only agent, there should be significant savings.