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 Your source for the latest technology information of interest to credit unions across America.

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June 15, 2015

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

 

General News  

* CU Direct Buys into Intuvo
* Northern FCU Renews 7 Year Agreement with Synergent
* APCI FCU Chooses Symitar
* Mountain America CU Selects ProPay`s LenderPay

CU Direct announced that it has acquired a controlling interest in Scott's Valley, CA-based Intuvo, which is well known for its mortgage software. As a result of the agreement, Intuvo`s technology platform will provide a number of market extensions for CU Direct, including dynamic marketing automation tools that will be integrated with the company`s Lending 360 Loan Origination System`s cross-sell engine.

Synergent announced that Northern Federal Credit Union with 28,000+ members, $205M in assets, and branch locations in Adams, Gouverneur, LeRay, Lowville, Watertown, and West Carthage, New York has recently renewed a seven year agreement for the Episys Core Processing Solution with Synergent Technology Services. Northern FCU also utilizes a variety of services to better serve their members including Card Services, Check Processing, Mobile Banking, Direct Marketing Services, and Opening Act, an online account opening service.

Jack Henry & Associates' Symitar division announced that APCI Federal Credit Union has selected EASE, the outsourced delivery option for its Episys core processing system. The Allentown, PA-based credit union is the latest of more than 125 Symitar EASE clients.

ProPay, a TSYS company, announced that Mountain America Credit Union has selected ProPay`s LenderPay platform to offer credit union members loan payment options that go beyond traditional mobile apps and online bill pay. Members can use their preferred debit card, credit card or account to pay mortgages, auto loans and more by responding to a text message, clicking an email hyperlink or tapping a button on their smartphone.

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Hardware News

Rubrik has released their new r300 series hybrid cloud appliance: the r330 is a 2U 3-node appliance that can protect up to 200 virtual machines, while the r340 is a 2U 4-node appliance that increases the VM limit to 300 virtual machines. Once in place, the platform offers system availability with built-in automated failure detection and self-healing. All data is automatically stored in deduplicated, redundant copies throughout the cluster. The appliances currently support VMware vSphere 5.1 and 5.5 and application-aware backup through Microsoft VSCS (Volume Shadow Copy Service) for Microsoft Exchange Server 2013, SharePoint 2013, SQL Server 2012 and 2014, and Active Directory in Windows Server 2012/R2.

Hewlett-Packard is coming out with mini-PCs such as the HP Stream Mini Desktop that features an Intel Celeron processor, 2GB memory, and 32GB SSD drive. Weighing just 1.4 pounds and measuring 5.73 x 5.70 x 2.06 inches, it starts at $179, including a keyboard and mouse. Another affordable mini desktop PC is the HP Pavillion Mini which has a little more power than the Stream with an Intel Pentium 3558U processor, 4GB of memory upgradeable to 16GB and a 500GB SATA drive. It measures 5.71 x 5.71 x 2.13 inches and weighs only 1.46 pounds, and starts at $320. 

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

 

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Software Updates

TrueAccord is looking to white label their debt portfolio management platform which uses machine learning and behavioral analytics to help automate the debt collection process. The company says they have seen recovery improvements of 20% or more for clients using their system, as well as significant individual agent productivity gains. The San Francisco-based firm provides an online dashboard where all debt accounts can be reviewed and monitored, plus the dashboard also tracks in and outbound communication volume, recoveries (with week-to-week and month-to-month comparisons), and disbursements.

vArmour announced that their DSS Distributed Security System is now available in a complimentary format. The software delivers real-time context and insight into application activity within highly virtualized and cloud environments. The company says that their solution allows organizations to see application traffic at a granular level and recognize exact locations if there is cause for concern.

 

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ATMs/Kiosks

Entrust Datacard announced their new Datacard CE870TM instant issuance system that enables credit unions to instantly issue permanent embossed or flat payment cards or identification cards through a self-service kiosk. The CE870 system features secure card personalization technologies that include embossing, rear indenting, smart card encoding that enable EMV card issuance, traditional magnetic stripe encoding, as well as full-color and direct-to-card printing.

ATM Worldwide is offering the Nautilus Hyosung MX8800 intelligent teller machine (ITM) to credit unions. The Louisiana-based systems integrator of ATM technology says that their system comes completely configured and does not require development and professional services fees. The ITM solution includes features such as:

- teller assistance

- tablet enablement

- remote video teller assistance

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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:  

Better Branches

Better Branches

and their client is:

Tucson 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

Speakers at the recent Wearable World Congress in San Francisco agreed that wearables with play an important role in the future of mobile payments. A wide variety of firm presented including MasterCard, PayPal and Capital One. Some speakers were convinced that wearables will help users make more informed, responsible payment decisions, by using data collected by wearables, including location and behavioral information, while others feel that wearable computing will eventually "give rise to more connected, more personal experiences." Still others believe that the future of mobile payments will be predictive based on context, and that big data analysis will play a key role.

Wells Fargo is testing biometrics for mobile banking - both facial and voice biometrics. Mobile bankers can use their iPhones' camera and microphone to try out the new authentication tool. The bank stores their biometric data on its own servers, not their users' phones. They are also working on new features, such authenticating users using a video of them talking, rather than a still photo, or scanning the unique veins in their eyes.

Xceed Financial Credit Union now supports the ability for members to chat face to face via their mobile app. For desktop or laptop users, video chat access is available via Xceed's website. The El Segundo, CA-based credit union's Xperience Center is run by bilingual agents who can assist members with a wide variety of services, such as applying for a loan, opening a new account, and discussing investment strategy and financial planning issues.

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Wireless World Sponsored by
Member Access Pacific (MAP)

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

In an effort to avoid ever-growing pervasive threats, Cisco announced a plan to embed security throughout the network - from the data center out to endpoints, branch offices and the cloud. To combat attacks, Cisco says it is adding more sensors to network devices to increase visibility, more control points to strengthen enforcement and pervasive threat protection to reduce time-to-detection and time-to-response. Included in the plan is Hosted Identity Services, which is designed to provide a cloud-delivered service for the Cisco Identity Services Engine security policy platform. The new hosted service provides role-based, context-aware identity enforcement of users and devices permitted on the network.

A recent survey conducted by OnePoll on behalf of LogRhythm, revealed that 70 percent of breaches were detected by a third-party, rather than the organization itself. Plus, 46 percent of organizations that have suffered a data breach took more than four months to detect a problem, and more than three months to mitigate the risk. On a more positive note, the survey indicated that employees are now less likely to pilfer data from an organization than has been seen in previous LogRhythm research.

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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:
https://www.cunews.com/Cognizant.pdf

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


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

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

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

 

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Technology and Marketing

Wistia is a video hosting company that helps organizations add their videos to the web, track their performance, and find new ways to build and engage with their audiences using online video. They provide tools to customize your video so it matches your overall web brand and helps increase website traffic through Video SEO. Virginia Credit Union uses their services on their website, but also posts independently to YouTube. Their videos cover financial education, online and mobile banking explanatory guides, and member testimonials. The Cambridge, MA-based company offers a free plan and three affordable monthly options: Professional, Business and High Volume.

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Online Banking/E-Commerce/Website Design

The P2P (person-to-person) payments market is booming with a steady stream of new entrants. One low cost option is to make use of the same PIN-debit networks that switch point-of-sale transactions for FIs. Earlier this year, Shazam launched a real-time P2P feature for its 2-year-old Bolts mobile app, now next month the Bolts P2P service will expand nationwide, taking it beyond Shazam`s network of 1,300 institutions and making it possible to send money to anybody in the United States with a DDA. According to Forrester Research, mobile P2P is growing fast: they expect it to tally $9.6 billion by the end of 2016, up from $5.3 billion in 2014.

Visa announced a new program that connects FIs and technology companies to simplify and accelerate the rollout of new payment and commerce services. Dubbed the Visa Digital Enablement Program (VDEP), it builds on the company's secure token technology and adds a turnkey, toll free commercial framework accessible to more than 14,500 Visa financial institution clients and leading technology partners around the world such as Google. Users can connect to one another through VDEP, with no need for a complex set of contractual agreements and technology integrations, plus there are no pass-through fees between technology partners and financial institutions.

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Internet Access

The traditional WAN (wide area network) is a single pipe, but newer WANs are a fabric of multiple types of links (T1, T3, frame relay, cable, DSL, etc.). The next generation is the software-defined WAN (SD WAN) which will offer customers much more intelligence allowing them to prioritize traffic and apps based on their specific needs and policies. There are other technologies in addition to SDN (software defined networking) that are changing the WAN environment such as hybrid WAN services and better management tools. New vendors to keep an eye on include CloudGenix, Glue Networks, Viptela and Velocloud, as well as established vendors such as Cisco, Avaya, Alcatel-Lucent and Riverbed who are all working hard to address WAN issues with new software and hardware.

According to statistics and research from Imperva, DDoS attacks are beginning to resemble advanced persistent threats (APTs). APTs are characterized by:

- long durations

- repetition

- changing attack vectors aimed at evading signature-based defense systems

They note that botnet-for-hire attacks can cost as little as $19.99 per month which significantly lowers the barrier to mounting attacks. The researchers also noted a shift in DDoS bot populations, with more and more impersonator bots assuming non-generic identities, in an effort to bypass rudimentary signature-based security solutions.

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Call Centers

Many contact centers use knowledge bases for their agents because they can help them readily answer common questions and problems that both agents and members face. Many start with a standard article template, and then populate the template with concise answers to questions, issues, and themes that come up repeatedly. Knowledge base experts recommend that the articles:

- only address one problem

= be keep short and to the point

- provide adequate detail

- use images or videos when helpful

- be written by subject matter experts

- be carefully reviewed for accuracy, grammar, spelling, formatting, etc.

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