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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.

January 26, 2015

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

 

General News  

* CU*Answers and Payveris Form Partnership
* CU Solutions Expands Savings Program
* Inetco Launches Analytics Package
* Pioneer FCU Deploys First Video Teller in Idaho

Payveris, a next generation online and mobile digital payments company, and West Michigan-based credit union-owned cooperative CU*Answers announced a working partnership to provide an integrated online banking and payments experience to their client credit unions and their members. The partnership will use Payveris` modular, API driven digital payments platform and CU*Answers` solution approach to further strengthen CU*Answers` member-focused banking solutions.

CU Solutions Group has launched a first-of-its-kind multi-state savings contest called Save to Win. The program will now be available for credit union members in Michigan, Nebraska and Connecticut. The contest promises $3,750 in prizes to 150 members each month.

Inetco Systems, a provider of transaction monitoring and consumer analytics software for the banking and payment processing industries, has launched Inetco Analytics for self-service devices. The new application allows ATM deployers to leverage their electronic transaction data to better understand how users interact with ATMs and other devices in mobile banking, Internet banking and branch banking environments.

NCR announced that they will be providing Pioneer Federal Credit Union with video teller technology for its ATMs. Tellers at the Mountain Home, ID-based credit union will be able to use interactive video technology to take control of two new ATMs at the credit union's Boise branch, which recently opened.

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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

Virtual Instruments provides appliances that help deal with the massive amounts of data associated with log collection and analysis. Virtual Instruments provides the appliances needed to collect the data, while its software analysis tool called VirtualWisdom is used to visualize the data. Virtual Instruments leverages anonymized data from existing client data to help provide accelerators in the form of canned reports. The company says that their accelerators can be used to reduce the time required to garner useful information from machine data such as network tapes and application logs.

Dell`s XPS 13 laptop is the company`s thinnest and lightest laptop ever. The 13.3-inch display with a resolution of 2,560 by 1,440 pixels has a very slim border, and it weighs just 3.3 pounds. The XPS 13 has 802.11ac Wi-Fi and can have as much as 8GB of RAM. In all, a fully loaded laptop with the most storage and biggest touchscreen could cost more than $1,000. 

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

 

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Software Updates

Sysmon is a Windows system service and device driver that, once installed on a system, remains resident across system reboots to monitor and log system activity to the Windows event log. It provides detailed information about process creations, network connections, and changes to file creation time, and can help identify malicious or anomalous activity. Microsoft just released Version 2.0 of the software and it includes driver load and image load events with signature information, configurable hashing algorithm reporting, flexible filters for including and excluding events, and support for supplying configuration via a configuration file instead of the command line.

Citrix Systems says that the latest version of their XenServer software cuts the cost of virtualizing high-end PCs by increasing the number of desktops that can run on each server. For XenServer 6.5, Citrix partnered with Nvidia so that graphics commands of each virtual machine are passed directly to the GPU, without translation by the hypervisor. XenServer 6.5 is also now based on a new 64-bit kernel architecture that offers improvements in networking and storage performance, according to Citrix. Plus the company added "geo-tagging," which lets IT departments restrict workloads from running in a particular location for security reasons.

 

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Software Updates Sponsored by
Raddon Financial Group (RFG)


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ATMs/Kiosks

The ATM Industry Association (ATMIA) has established an international ATM Marketing Committee. The mission of the new group is to promote communication between marketing professionals, educate members on advances in marketing technology and techniques, and provide them with the information they need to more effectively promote their organization`s ATMs.

TD Bank is testing "Smart ATMs" at a few Canadian locations. They say that the machines feature a more intuitive user interface, with larger fonts and touch screens for ease of use, and the option to get on-site help from branch staff. The Smart ATMs also offer enhanced withdrawal and deposit functionality, including the ability to choose bills in various denominations.

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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:  

QuestSoft

QuestSoft

and their client is:

Patelco 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

According to research from RiskIQ, more than 11% of Android banking and finance-related apps contain malware or suspicious binaries. More than 40,000 surveyed apps were deemed suspicious in some way: 21,000 contained adware, 20,000 Trojan malware, 3823 spyware, 209 exploit code, and 178 malicious JavaScript. The research also shows that many of these apps request "excessive permissions" - such as the ability to capture device logs, record audio and access contact lists. The company notes that policing app stores for malicious apps and taking them down is a never ending battle for FIs.

USAA members will soon be able to log into the FI's mobile app via biometric recognition. They claim to be the first U.S. financial institution to offer facial and voice recognition on a mobile device. The technology will allow members to access their account information using multifactor authentication options that include a PIN, as well as face and voice recognition — all of which work in conjunction with a security code generated by the app for each login. USAA facial recognition requires users to look at the screen and, when prompted, blink their eyes, while for voice verification, users must read a short phrase.

A recent survey by Verifone showed that more than half of respondents – 53 percent – said it was important for more stores to install devices that enable consumers to pay with their smartphones. The response was significantly higher among younger consumers; 64 percent of respondents aged 40 and below agreed that more stores should install devices that allow customers to use smartphones to pay. However, the survey also showed that almost half of consumers polled were unfamiliar with mobile technologies such as near field communication (NFC) and mobile wallets.

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Security Section

According to the Online Trust Alliance, over 90 percent of data breaches in the first half of 2014 could have been prevented if businesses rethought their cyber-security strategies. The non-profit group states that only 40 percent of data breaches involving the loss of personally identifiable information (PII) were caused by external intrusions - while 29 percent were caused either accidentally or maliciously by employees. OTA says a lack of internal controls, lost or stolen devices and documents, as well as social engineering and fraud were to blame for almost 30 percent of data loss incidents suffered by businesses.

Fortinet announced the Fortinet Internal Network Firewall (INFW), which is aimed at protecting a company's critical data from inside the network. The INFW sits close to network assets, which helps prevent breaches from spreading, while the included software allows administrators to view network traffic, users and devices on the network. The company claims that their Threat Intelligence services can detect and block malicious network traffic and implement security policies without necessitating changes to the existing network topology.

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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

Some marketing experts believe that credit unions are not spending as much money on their websites and on email marketing as they should. They contend that members visit and spend more time on a credit union's website than any branch that they have, and that the website should be the focal point of any credit union`s digital marketing strategy. As for email marketing, proponents point to a McKinsey study that found that email remains a significantly more effective way to acquire customers than social media. The report states that 91% of U.S. consumers use email daily and the rate at which emails prompt purchases is estimated to be at least three times that of social media.

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Online Banking/E-Commerce/Website Design

A few start-ups, such as Earnest, Affirm and ZestFinance, are creating new models of lending. Using sophisticated software, they look well beyond a person`s credit history. The data is compiled from diverse sources, such as household buying habits, bill-paying records, and social network connections. They argue that this approach can lead to more accurate assessments of creditworthiness that will broaden the lending market and lower borrowing costs. These young companies see opportunities due to the fact that as many as 70 million Americans either have no credit score or a limited credit history, and they contend that most mispriced group in the loan market is the millions of financially responsible young people.

Barclays is implementing a system which enables their mortgage staff to take photos of paperwork for immediate upload to an applicant's case file. Employees can simply take photographs of the paperwork on their smartphone or tablet. These images, as well as those of documents that have been scanned, can then be uploaded directly into the applicant's case folder online, where they are instantly visible to both employees and the applicant.

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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

Viptela is looking to improve traditional WANs (wide area networks) that are too complex, too costly and too inflexible with their leading edge solutions. The company implements software defined WANs via their Secure Extensible Network solution. Their architecture is composed of five major pieces:

- Enable transport independence - Enable security at routing scale - Enable network-wide segmentation - Centrally enforce policy and business logic - Insert Layer 4-7 services on demand

Fraudsters have developed software called FraudFox VM that makes spoofing a browser fingerprint much easier. Web browsers send a variety of data to websites, including a computer's operating system, its time zone, language preference and version numbers for software plug-ins. When those "fingerprint" parameters change, along with others such as an IP address, it may mean an account is being fraudulently accessed. FraudFox makes it easier to change a browser's fingerprint to one that matches that of the victim whose account they are trying to exploit. Some security experts are suggesting that tools like this mean that device/browser fingerprinting is losing effectiveness and cannot be relied upon by anti-fraud packages looking to protect online banking sites.

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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

8x8, a cloud-based service provider, announced an integrated cloud communications solution that combines telephony, unified communications (UC) and contact center users via a common underlying platform. The 8x8 Virtual Office/Virtual Contact Center integrated solution features:

- “Shared Presence” - so agents can see the status of anyone in the credit union to handle member issues - Single Sign-On – enabling use of authorized tools including call center features, UC services for agent desktops, meetings, switchboards and mobile clients - Extension-to-Extension Dialing – provides click-to-call dialing and call processing between contact center users and other staff - Call Center Agent Hardware Endpoints – for agents who don`t use a soft phone solution (e.g. a remote IP phone) can make their device part of the contact center call flows and reporting

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