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~ This Week's News is Sponsored by Better Branches ~
* Ideal CU Implements Better Lobby from Better Branches
* Thirteen CUs Commit to Fiserv's Portico
* Raddon Financial Group Adds 40 CUs
* Security Compliance Associates Signs Washington State DCU
Better Branches Technology, a provider of branch visitor queuing, appointment handling and workforce management software for credit unions, announced that Ideal Credit Union has deployed Better Lobby. The $605M asset credit union said that they are using the Sales & Service Queue, Self Check-in KIOSK, Branch Appointments Calendar, and Mobile Appointment Booking Tool modules with great success.
Fiserv, a leading provider of financial services technology solutions, announced that thirteen credit unions have implemented their Portico core account-processing platform, along with ancillary solutions so far this year. Nearly 400 credit unions are currently using Portico.
Raddon Financial Group, a provider of financial industry research and trends data, said in 2015 it added 40 new credit union clients. Some of the Raddon products include: its relationship survey program, CEO Strategies Group, "Integrator" business intelligence, and strategic consulting services.
Security Compliance Associates (SCA) announced that the company has recently been awarded as the primary vendor to assist in the completion of IT examinations for credit unions regulated by the Washington State Department of Financial Institutions, Division of Credit Unions. Examinations will be performed from November 2015 through June 2017.
The SmartSource Professional Elite Scanners from Burroughs are now certified to be compatible with the ID scanning solution from Acuant, a provider of credential management solutions. The Professional Elite scans and captures images of a driver's license or other government-issued ID using Acuant idScan which allows the automatic transfer of information to a credit union's systems. The Acuant software provides a proven process for information verification in order to comply with the Bank Secrecy Act, Gramm-Leach-Bliley Act and Red Flag Rules.
WTI's NPS series network power switch PDUs allow IT Departments to remotely control the powering on/off and rebooting of switches, routers, firewalls or any other network device. The NPS includes a wide selection of security and monitoring features, including event and temperature alarms, to help minimize support calls and accidental shutdowns. The NPS-4HS15-2 gives you the ability to remote reboot and remote power cycle equipment from anywhere by simply pointing your browser to the IP address of any NPS unit and entering the secure user name and password. The NPS-4HS15-2 features four different levels of user accounts: Administrator Level, Super User Level, User Level and View Only Level.
Splunk captures, indexes and correlates real-time data in a searchable repository from which it can generate graphs, reports, alerts, dashboards and visualizations. Prelert offers their Anomaly Detective App for Splunk that extends the power of Splunk with Prelert`s behavioral analytics platform. It analyzes your search results, finding anomalies in the data and linking them together, letting your data tell the story behind both cyber threats and IT performance problems. Using the combination of Splunk and the Prelert Anomaly Detective App, one small FI was able to stop a reported 250 fraudulent transactions in three months thereby reducing losses by approximately $75,000.
SQL Server is Microsoft's flagship database product and has been in use for more than a decade. SQL Server 2016 will include these new features:
- Always Encrypted Data
- The Always On feature (first introduced in SQL Server 2012) has been enhanced to facilitate high availability and disaster recovery of data
- Native JSON support
- Support for in-database analytics with R-integration
NCR has come out with an optional security upgrade for many NCR and multivendor ATMs: Secure Hard Disk Encryption. They are working with WinMagic, a Canadian provider of encryption and intelligent key management solutions, to deliver the solution that uses WinMagic PBConnex preboot network authentication to ensure that the ATM is authenticated before its OS decrypts and loads. In addition to protecting ATMs, NCR Secure Hard Disk Encryption provides centralized monitoring capabilities and real-time network status updates to provide early warning of a potential attacks at any given ATM.
A new study by RBR finds that cashless payments are increasing at a rate only slightly faster than ATM cash withdrawals, suggesting that cash is still favored as a means of payment by a significant portion of the world`s population. While cashless payments have increased 7.6 percent annually since 2010, RBR found that ATM cash withdrawals during the period have been rising almost as quickly, at 7.1 percent. Checks are the least common form of cashless payments, while credit and debit cards have achieved the fastest growth rate of any cashless payment instrument, at 12 percent per year since 2010.
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:
According to market research firm Gartner, half of consumers in mature markets are likely to be tapping smartphones or wearables to make mobile payments by 2018. They note that mobile wallets from Apple, Samsung, and Google may not gain as much traction as those from retailers and FIs because the NFC technology on which they operate lacks widespread partnerships with retailers, financial institutions, and consumers. They also conclude that cloud-based solutions will have a better chance to succeed because they can reach a wider audience and can support many use cases.
Rumors are abounding that Target will launch their own mobile wallet just a week or so after Walmart Pay was announced. A Target spokesman said that the retailer is testing CurrentC, which is being developed by the Merchant Customer Exchange (MCX), in a few stores but it is also exploring additional mobile wallet solutions. MCX, which was announced back in 2012, promises to bring in loyalty, rewards, and lower costs for merchants by relying on ACH rather than the card networks.
The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
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(866) 598 - 0698
Celent has released a new report titled “Banking in the Cloud: Between Rogues and Regulators” that notes that the obvious reasons that FIs are not moving to the cloud are data security concerns and the fear of regulatory scrutiny. Yet the report's author counters that "Capital One's recent announcement that it is moving most of its IT infrastructure to Amazon Web Services points to the schism between banks that are embracing cloud services and those that are not. While many banks and most banking IT services vendors have eschewed the cloud over concerns regarding security and regulatory scrutiny, it has become clear that yesterday's questions and concerns are becoming tomorrow's thin excuses."
A startup with the unusual name of Secret Double Octopus has come out with an encryption solution that helps with: mobile banking; protecting communications from employee laptops and mobile devices; and branch communications. Their keyless Multi-Route Traffic Protection protects from Man in the Middle and eavesdropping issues. The solution does not require encryption keys or certificate authorities. Instead, data – morphed into random bits of information – travels via multiple routes across the Internet and gets reassembled at its destination.
The NCUA has launched a consumer-oriented Fraud Prevention Center. Users can access a number of resources from NCUA and other federal partners. The Fraud Prevention Center has sections covering a variety of topics, including:
- Frauds and Scams: learn about the newest and most common types of frauds or scams, what to do if you become a victim of fraud and how to report a scam
- Identity Theft: discover what steps you can take to prevent and report identity theft
- Online Security: get tips for staying safe online
- Fraud Alerts: stay a step ahead with the latest information and practical tips about recent frauds and scams
- Fraud Resources: visit other NCUA partners for additional fraud prevention resources
Supporting Omnichannel Delivery with the Core System
Many marketing experts believe that your website can provide you with valuable information on how to better serve existing members and attract new members. One reporting and analytics tool that is no cost is Google Analytics. The tool can answer these questions:
- How do visitors arrive at your site?
- Where do they live?
- How many visitors use desktop vs. tablet vs. mobile?
- What product pages are visited the most?
They also offer a paid version with more features and technical support called Google Analytics Premium.
As part of the UpGrade Athens County program, Ohio University Credit Union is offering 0% “green loans” for zero-emission electric vehicles. The EV Loan Program will be in place for a full year until December 2016, and the no-interest loan can cover up to 100% financing.
Digital Insight has released Business Banking, a SaaS-based online banking solution that targets the 28 million small businesses in the United States. The NCR company says that the platform provides flexible entitlements, security and control; single sign-on; integration with best-in-class vendors for business bill pay, mobile remote deposit capture and online statements and more features to help meet business needs from small business to mid-market enterprises.
Pangea is an international money transfer platform that allows users to send money through a mobile app using only debit card numbers, not FI account details. They claim that you can complete a transfer in less than 60 seconds for a fixed fee of $3.95, and that their direct debit-to-debit product is the first to provide a way to transfer funds to Mexico in real time using the 16-digit primary account number (PAN) on a debit card.
AT&T's Switched Ethernet on Demand service is part of their Network on Demand platform and designed to dramatically speed up provisioning and adding new services. The next service that will launch is Managed Internet Service on Demand. That is designed to give customers more control of their network and the ability to rapidly scale up or scale down their network. For example, customers can go into the portal and go from a two-location network to a three-location or a four-location network in a matter of days without having to talk to AT&T.
VOSS Solutions has released a new Analytics module that helps address the challenge of gathering data about service usage and adoption, user trends and license consumption, in a multi-application UC environment. Administrators are able to access critical information about their UC services from the Analytics portal, and drill down to the detail or export the data for external use, such as billing and analysis. The Analytics Module is offered as an optional add-on for the VOSS-4-UC management platform and Cisco Unified Communication Domain Manager (CUCDM).
Interactive Teller Machines (ITMs) provide audio and video back to contact centers versus live om premise tellers. This means that credit unions using ITMs must rethink the hiring, training, and staffing models for the call center. They need to be comfortable "on camera" conducting video sessions and maintaining eye contact with the member. ITM agents will also need a different work environment - one that limits both background noise and any distracting visual background activities. Because ITMs often operate during extended hours, you will have to take into account agent safety considerations. Plus preliminary and ongoing training will be more in-depth for ITM agents as well.