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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.

February 9, 2015

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

 

General News  

* Pentagon FCU Partners with Open Lending
* Grow Financial FCU Selects Verian
* Dupaco Community CU Chooses OnApproach
* MDT Announces 2 Conversions

Open Lending, provider of Lenders Protection, announced that it has partnered with one of America`s largest credit unions, Pentagon Federal Credit Union. Lenders Protection is a risk-based pricing and default insurance program that allows credit unions to serve more members by providing insurance against losses on new and used automobile loans funded through direct or indirect lending channels.

Grow Financial Federal Credit Union (Grow) recently selected Verian`s cloud-based, purchase-to-pay suite to improve their purchasing processes. Grow will be implementing Verian`s Purchase Manager and Invoice Manager, as well as budgeting tools.

OnApproach, a leading provider of reporting and analytics solutions for credit unions, announced that Dupaco Community Credit Union of Dubuque, Iowa has signed an agreement to implement their OA Enterprise (powered by OnApproach M360) Big Data/Analytics Solution. OnApproach says that they are building a Big Data/Analytics Ecosystem for credit unions that will allow them to gain efficiencies and take advantage of the full potential of their data.

Member Driven Technologies (MDT) announced the conversions of Extra Credit Union in Warren, MI, and Sky Federal Credit Union in Livingston, MT. Both credit unions converted their core processing to Symitar Episys via the MDT credit union-owned service organization solution on January 1, 2015.

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Credit Union InfoSecurity Conference Sponsored by
imsmartin consulting

 The 13th annual CU InfoSecurity Conference will be held June 3 - 5, 2015 in Las Vegas.

This is a one-of-a-kind conference - a security conference dedicated solely to credit unions. Highly experienced, expert speakers discuss the latest security trends as they specifically apply to credit unions. Also included is a virtual tour of F&A Federal Credit Union and a presentation by Alloya Corporate FCU. The CU InfoSecurity Conference is the only conference in the credit union movement that includes two nights lodging in a deluxe room as part of the already incredibly low price: just $595 per attendee and $495 for returning attendees. Topics include:


* Ransomware
* Securing VMs
* Cloud Security
* Breach Prevention
* Pervasive Security
* Device Configuration
* Compliant Social Media
* Transparent Encryption
* CU Virtual Security Tour
* Securing Virtual Branches
* Network Security Strategies

* Account Takeover Prevention

* Intelligence Driven Cyber Security

Click Here for information, agenda, reservations & more.

Also includes a behind-the-scenes tour of Zappos Headquarters - don't miss it!

Zappos

 


Hardware News

EMC's VSPEX Blue is based on VMware's EVO:Rail platform, a software-only appliance that VMware leaves to partner companies to implement in hardware systems. Dell, Super Micro and other vendors already sell EVO:Rail systems. According to EMC, a major selling point of VSPEX Blue is that you can switch it on and start provisioning virtual machines in less than 15 minutes. Each 2U appliance comes with four server blades and 14.4TB of storage and is designed to run about supported by an app store - EMC will provide apps and some third parties as well, but all will be validated by EMC.

MicroPower Technologies designs and manufactures solar-powered, wireless surveillance systems that they say enable end users to place cameras in previously unreachable locations. Its surveillance platform delivers live wirelessly streaming video and combines a solar-powered camera with a central receiving hub for secure, reliable transmission. The system is designed for outdoor applications and supports all the major VMS solutions on today`s market. The San Diego-based company's tagline is "no power, no network, no problem." 

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

 

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Software Updates

The Aite Group is predicting little core system changes for large institutions in 2015, but says that core technology replacement in North America will continue to be dominated by community FIs. The research firm believes that those vendors with the greatest chance of success will be the ones offering platforms with proven scalability, the ability to easily perform high levels of customization, financial viability, a real-time and modern infrastructure, and a global footprint. They conclude that “investments in new core solutions will be critical to effectively implementing the right strategies and getting the greatest speed and return from front-end investments.”

Many industry observers note that traditional network vendors have not embraced hardware virtualization in the same way that the server industry has embraced hardware abstraction. VMware supports network virtualization via overlays, while Cisco's "programmable network" is enabled by Application Centric Infrastructure (ACI). Juniper and Brocade have deployed open source solutions to add network virtualization and flow control to their ecosystems. Meanwhile a few startups such as Pluribus are taking a different approach. Instead of taking an overlay approach that is popular with products such as VMware's NSX, Pluribus is looking to virtualize the actual network silicon. Pluribus calls its network device virtualization solution Netvisor and it has the potential to not only run on white box hardware, but hardware from Cisco, Juniper and others.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

Coin counting machine proponents believe that self-service coin deposit machines make the branch a more valued destination to the member and improves their experience of depositing funds. They cite one study that found that 67% of consumers who currently redeem coins at a fee-charging retail location would increase their rating of their FI to ‘extremely satisfied` if they installed a no-fee self-service coin machine. One vendor, Cummins Allison, notes that when FIs with an average of 250 coin transactions per month installed one of their self-service coin counters, they saved more than 40 teller hours per month.

Wells Fargo claims that they are the first major U.S. financial services provider to allow consumers to redeem rewards at their ATMs. The new ATM feature allows customers to either:

- Redeem their rewards in the form of a cash withdrawal, or

- Redeem rewards in the form of a deposit or payment to a qualifying Wells Fargo account, including checking and savings accounts, credit cards, mortgages, home equity loans and personal loans.

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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:  

DCI

DCI

and their client is:

Morton 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

Apple estimates that Apple Pay currently comprises more than 66 percent of Visa, MasterCard, and American Express contactless payments by value across the U.S. Apple Pay makes up more than $2 out of $3 spent on purchases using contactless payment across the three major U.S. card networks. Currently, about 750 card issuers have enrolled in Apple Pay.

In a related story, Deloitte is predicting that the use of mobile phones for making in-store payments will grow by 1000% during 2015, marking a mass-market tipping point for NFC-enabled transactions. 2015 will be the first year in which the multiple prerequisites for mainstream adoption - satisfying financial institutions, merchants, consumers and device vendors - have been sufficiently addressed, says Deloitte in its annual technology, media and telecommunications (TMT) report. It predicts that about five percent of the base of 600 million NFC equipped smartphones worldwide will be used to make an in-store NFC payment at least once a month, compared to less than half a percent of about 450 million NFC phones in mid-2014.

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Security Section

Cyber insurance is still in its infancy when compared to other forms of insurance, but demand is increasing rapidly. However, many buyers are hampered by these concerns:

- low policy levels

- high deductibles with a lot of exclusions

- confusion about what the policies actually cover

Some security experts argue that the best approach at this early stage is to draft a policy that suits your needs, and then shop it around.

Route1 is a provider of secure access technologies for the mobile workspace that believes that traditional VPN type architectures are too insecure. Route1 offers a system where mobile users essentially work on an encrypted screen shot. Because data never resides on remote devices, an encrypted screen shot approach means organizations can save the cost of purchasing laptops or other mobile devices. By attaching a portable smart card reader to a USB port, users can use smart cards to call up encrypted representations of their data on any Internet-enabled device.

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Leaders Roundtable

Security:

Meeting the Challenges of Attacks, Breaches & Compliance


Alloya Corporate FCU - http://www.alloyacorp.org
Read Biff Myre's and Ron Schlecht's comments:
https://www.cunews.com/Alloya.pdf

CatchFire Creative - http://catchfirecreative.com
Read Drew Schulthess' comments:
https://www.cunews.com/CatchFire.pdf

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

Easy Solutions - http://www.easysol.net
Read Daniel Ingevaldson's comments:
https://www.cunews.com/EasySolutions.pdf

eScope Solutions - http://www.escope.net
Read Dean Marshall's comments:
https://www.cunews.com/eScope.pdf

Horsetail Technologies - http://www.horsetailtech.com
Read Mark Berman's comments:
https://www.cunews.com/Horsetail.pdf
 
HyTrust - http://www.hytrust.com
Read Hemma Prafullchandra's comments:
https://www.cunews.com/HyTrust.pdf
 
IMM - http://www.immonline.com  
Read John A. Levy's comments:

Info@Risk - http://www.infoatrisk.com
Read David Trepp's comments:
https://www.cunews.com/This email address is being protected from spambots. You need JavaScript enabled to view it.

Ingalls Information Security - http://www.iinfosec.com
Read Russell “Rusty” Wilson's comments:
https://www.cunews.com/Ingalls.pdf

KnowBe4 - http://www.knowbe4.com
Read Stu Sjouwerman's comments:
https://www.cunews.com/KnowBe4.pdf

Millennial Vision - http://www.mviusa.com
Read Scott Cowan's comments:
https://www.cunews.com/MVi.pdf

Hyland Software - http://www.onbase.com
Read Steve Comer's comments:
https://www.cunews.com/OnBase.pdf

PhishLabs - http://www.phishlabs.com
Read Stacy Shelley's comments:
https://www.cunews.com/PhishLabs.pdf

Q2 - http://www.q2ebanking.com
Read Jay McLaughlin's comments:
https://www.cunews.com/Q2.pdf

Rallypoint Solutions - http://www.rallypoint.us.com
Read Kris Zupan's comments:
https://www.cunews.com/Rallypoint.pdf


SilverSky - http://www.silversky.com
Read Andrew Jaquith's comments:
https://www.cunews.com/SilverSky.pdf


Xamin
Xamin - http://www.xamin.com
Read Erik Gustafson's comments:
https://www.cunews.com/Xamin.pdf

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Technology and Marketing

As alternative lenders grow in number and popularity, some observers are convinced that credit unions must become more aggressive in marketing and closing loans. Jerry Silva, research director at IDC Financial Insights, suggests that credit unions:

- provide loan officers with full-capability lending tablets and send them into the field

- always enable forms to be pre-populated with member data they already have

- invest in member engagement technologies

- integrate systems and processes to facilitate cross-selling after onboarding a new member

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Online Banking/E-Commerce/Website Design

According to research firm Forrester, P2P (person to person) payments are expected to grow to $17 billion in volume by 2019. In an effort to facilitate these efforts, the SHAZAM Network is offering a money transfer feature that allows SHAZAM BOLT$ cardholders to send money to other enrolled cardholders instantaneously. A user can determine whether an intended recipient is enrolled simply by entering the recipient`s email address into the app. A web version is also available for cardholders who prefer to access the tool from a desktop computer or mobile browser.

Ecuador has become the first country in the world to roll out its own digital cash system. Other countries, such as Sweden, use digital currencies widely, but they are not state-sponsored. The South American country claims that the new system will help the country's poor, while simultaneously acting as a cost-saving mechanism for the government: Ecuador spends more than $3 million every year to exchange old notes for new dollars. In a move designed to help assure the system's success, the government has banned Bitcoin and other competing e-money systems. The government expects about 500,000 people to sign up to use the system in 2015.

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Online Banking Sponsored by
IMM

 

IMM

IMM - The Nation's Leading eSignature, Workflow & Teller Provider

IMM

The industry’s leading “end-to-end” eSignature platform that integrates with all business applications, provides flexible eSigning options, and seamless archival into Imaging/ECM repositories.

IMM

Differentiate your eSignature solution with industry unique business-rules driven workflow automation.  Control and enforce critical eSignature business operations, processes and tasks.

 

IMM

Innovative electronic receipt and check 21 teller capture solutions that streamline teller processes and reduce costs, while enhancing the consumer experience and eliminating paper-generation.

 

 

Contact us today:

(800) 836 - 4750

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Internet Access

In 2012, Cisco acquired Meraki which is a provider of cloud-managed Wi-Fi services. Now the Meraki unit is expanding its offerings with the release of a number of cloud-managed products that include the following:

- Network infrastructure: WAN Optimization, switching, Wi-Fi, bonjour gateway and routing

- Unified threat management: Intrusion prevention, next-generation firewall, auto VPN and content filtering

- Mobile management: User management, device management and application management

It is very important to identify all possible attack surfaces on a website, or else not all of them can be tested. An automated web application security scanner, such as Netsparker, crawls a website and identifies all possible attack surfaces so they can be checked to see if they are vulnerable to cross-site scripting, SQL injection and other type of web application vulnerabilities and security issues. During an automated web application security scan each possible attack surface is checked for hundreds of different vulnerabilities within a few hours.

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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

Plantronics just announced four new products for call center workers and regular office workers. The new Blackwire 725 is a corded, two ear piece headset that offers Active Noise Canceling (ANC) technology. The headset features several smart features as well, such as automatic EQ adjustment and the ability to answer calls by putting on the headset. Meanwhile, Clarity 340 is a corded handset designed for those with vision, dexterity and hearing challenges. The handset features a large keypad, 30dB listening volume and a desktop stand. For business travelers, the company is offering the new Voyager Edge UC Bluetooth headset and the Calisto 610 which is a small speakerphone connected via USB with a noise cancelling microphone and a Kensington compatible lock port.

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