CU news Logo

 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.

March 25, 2015

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

 

General News  

* Rallypoint Solutions Announced TPAM365
* Hughes FCU Chooses IMM
* CUAD Partners with Sharetec
* CU*Answers Helps The Finest FCU Open

Rallypoint Solutions, an IT Security services company that focuses on the issues around Privileged Account Management (PAM), announced the release of TPAM365. Built around Dell`s award winning TPAM product, TPAM365 offers a secure, managed, and monitored place to store Privileged Passwords for 70+ different platforms, including Windows (including service passwords), Linux, Databases, Network Devices, VMWare, etc.

IMM, a leading provider of integrated eSignature, workflow and document solutions for credit unions, announced that Tucson, AZ-based Hughes Federal Credit Union has deployed its cloud-based remote eSignature solution, Document Exchange. By offering remote eSignatures, the $796 million credit union has expanded its direct lending capabilities.

Sharetec System, one of the fastest growing core systems, announced a new partnership with Credit Union Association of the Dakotas (CUAD). Sharetec has joined the MAP (Mutual Alliance Program) which is a partnership program that CUAD offers to vendors that provide quality products and services to CUAD member credit unions.

The Finest Federal Credit Union opened its doors for the first time on May 15, 2015, and serves a field of membership that includes nearly 75,000 employees of federal, state, county, and municipal agencies and departments engaged in police service in New York City. The credit union took advantage of CU*Answers` “Starting a Credit Union with CU*Answers” program, which provides free CU*BASE data processing services for new credit unions for an initial two-year period.

~~~

 

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!

sponsored by Ongoing Operations

Zappos

 


Hardware News

Dell announced two new DL series backup and recovery appliances, the Dell DL4300 and DL1000 1 TB, which are designed for smaller organizations. The DL4300 uses Dell's AppAssure data protection software running on PowerEdge server hardware. The backup and recovery devices work on any devices in your environment, whether they are connected via physical, virtual or cloud. The DL4300 supports up to 60 TB of storage capacity in the standard edition and up to 120 TB in the high capacity edition. Virtual standbys on the DL4300 allow systems to be backed up and the data to be used in case of system failure.

The Burroughs SmartSource Professional Elite check scanner now comes with added ultraviolet check fraud security. The company says that integrating UV camera technology into their check scanner provides an inexpensive way to improve UV image quality as well as enhanced fraud detection capabilities. The unit is available in two two-pocket and one-pocket versions. 

~~~

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

 

Back to Top


Software Updates

Cyphort offers an Advanced Threat Defense Platform that they say can help you detect advanced persistent threats (APTs) and contain advanced malware. Their distributed architecture separates data collection (Cyphort Collector) from analysis (Cyphort Core) and uses behavior analysis for malware and APTs. It can be deployed as software running on dedicated hardware or virtual machine, plus it features an open architecture that enables it to work with third parties, e.g., firewalls, secure web gateways and intrusion prevention systems.

Good Technology announced updates to Good Work, its existing secure mobile email application that provides for secure ways to view, edit, print, save and share attachments. The package keeps documents and email attachments in a secure container for protection, and they can also be converted to PDFs from within the application.

 

~~~

Software Updates Sponsored by
Raddon Financial Group (RFG)


Back to Top


ATMs/Kiosks

NCR claims to have built the industry's first full-function weatherized ATM for exterior walk-up environments. The ATM, the NCR SelfServ 37, can perform a wide variety of banking functions including envelope-free cash and check deposits and check cashing. Because it is built to handle extreme temperatures, humidity and rain, the company says that there is no need for an expensive dedicated housing. The unit's footprint is approximately 49 percent smaller than a typical full function ATM with an external structure.

Data theft at ATMs is rising dramatically, according to FICO. The company found that in the period between January 1 and April 9, data theft rose by 174 percent at FI ATMs and by a 317 percent at non-FI terminals. The attacks are largely related to the use of skimmers, however some observers say the spike in attacks on ATMs is partially due to merchants' adoption of more secure chip-and-PIN technology that has yet to make its way onto ATMs.

~~~

ATMs/Kiosks Sponsored by
Heritage Industries


Back to Top


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:  

SilverSky

SilverSky/BAE

and their client is:

Cabrillo 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!
 

~~~

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

Back to Top


Wireless World

Finding out about recent deposits and transactions, bill payments and routing numbers via voice searches is extremely convenient on mobile devices. Mobile apps with virtual assistants that understand spoken questions are starting to appear: USAA, Tangerine in Canada and Garanti Bank in Turkey all offer them. Ally's new app also suggests what the customer might want to do next and lets users click to call a live agent.

After purchasing Lemon Wallet, Lifelock created the Lifelock Wallet. It acts as a cloud storage system for a wide variety of cards. For example, your ID, insurance card, loyalty cards, and payment cards are all stored and accessed through the app. The app touts Lifelock's security protection and users can access their credit score through the app for $.99.

~~~

Back to Top


Security Section

According to a survey of information security professionals, security analytics has the highest perceived value compared to its cost. The survey, conducted by Enterprise Management Associates, covered 18 emerging securities technologies, and advanced threat analytics tied for first place with cloud data encryption and threat intelligence feeds. In action, security analytics can be used to examine alerts coming in from security devices and find those that are out of the norm, and also to look through other types of traffic data to detect indicators of compromise.

Oberthur's Motion Code technology replaces the printed 3-digit CVV (Card Verification Value) code that is found on the back of the card with a small screen, where the code changes periodically. Their solution uses an e-paper display which is similar to the Kindle e-reader. With Motion Code, because the CVV changes from time to time, the time a fraudster has to act is dramatically reduced.

Mountain America Credit Union's mobile now supports two forms of biometrics: finger scanning or via unique eye patterns seen through a smartphone`s camera. The $4.5 billion-asset credit union is the first to combine fingerprint and eye vein imaging technology to make biometrics available to all members using mobile banking. The West Jordan, Utah-based credit union developed the technology with Access Softek and EyeVerify for the Eyeprint ID technology element.

~~~

Back to Top


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

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

~~~

Back to Top


Technology and Marketing

According to a new study, 38 percent of Millennial consumers who don't currently have a checking account at a community financial institution (CFI) say they want to use a CFI but those institutions lack the products they need. It found that 3 in 5 Millennials (61 percent) would rather have an account at a CFI than one of the big national banks if all else were equal. The 2015 Consumer Banking Insights Study had some good news: 41 percent of Millennials who don't already use a CFI say they're at least somewhat likely to switch to one in 2015. The bad news is that just 16 percent of 35 to 54 year olds and 14 percent of those 55 and up are open to switching to a CFI. The report noted that rewards, cash back, and technology are key for Millennials.

~~~

Technology & Marketing Sponsored by
Bluepoint Solutions

Xamin

Back to Top


Online Banking/E-Commerce/Website Design

NACHA has approved a plan to allow for same-day settlement of ACH transactions. The plan calls for a reduction in the inter-institution fee from the originally proposed 8.2 cents per transaction to 5.2 cents. This fee is payable by originating FIs to receiving FIs on each same-day payment. The same-day plan is now expected to be implemented in three phases starting in fall 2016:

1) same-day processing of ACH credits, which are used in hourly payroll, person-to-person payments, and bill-pay transactions

2) then debits will be added which are used in a wide range of consumer bill payments

3) finally mandates will be instituted for receiving financial institutions for faster ACH credit funds availability

MasterCard announced a person-to-person (P2P) payment service, called MasterCard Send, that will allow debit card holders to send money to any other individual with a debit card account, regardless of the card brand and with the money arriving nearly instantaneously. MasterCard Send is currently available in the US only, but should be available for cross-border remittances in the near future. Pricing for transactions handled through MasterCard Send will be determined by the service provider.

ZipCap has developed a new lending model it calls “loyalty capital.” The San Diego-based startup provides small restaurants, boutiques, and service providers with low interest loans financed by investors seeking to support the local economy. ZipCap`s unusual lending model is designed to fix what the company sees as flaws in traditional small business financing options. Under their model, merchants that have been in business in the same location for at least two years can recruit an "Inner Circle" of customers who pledge to spend a certain amount of money over a certain period of time, and ZipCap lets them borrow against a portion of those pledges.

~~~

Back to Top


Internet Access

VeloCloud wants to simplify the way organizations set up their branches within their wide area network, and to improve the performance of their WAN. Their platform starts with a thin device called an Edge installed at the branch which then connects to VeloCloud's cloud platform. If the branch has more than one connection – which VeloCloud recommends – the packets can be switched between the lines on a per-packet basis using a technology called Dynamic Multi-path Optimization. The branches can use MPLS, cable, DSL, cellular LTE, etc. - essentially any type of physical transport connection they want. When one line has performance issues, the packets are automatically routed to the other line during the same session. If both lines have problems at the same time, VeloCloud does its best to reconstruct the packets using error and jitter correction.

Masergy Communications, a cloud-based UC service provider, announced this week that its Cloud Unified Communications solution is now WebRTC-enabled. Their Virtual Automated Attendant (VAA) includes a wizard that auto-generates code which can then be embedded on customers` websites. The initial VAA implementation includes web-based voice communications for sales and support functions - it supports a “click to call” feature. Telecom experts point out that WebRTC is a very useful protocol for customer service and contact centers because it enables real time communications (including voice, video, messaging, and screen sharing) - directly connecting a user`s browser to a remote agent without the need for additional applications on the user`s computer or mobile device.

~~~

Back to Top


Call Centers

The Noble ShiftTrack Workforce Management software provides a platform for optimizing resource performance by helping contact centers to forecast and plan more accurately and schedule staff more effectively. ShiftTrack generates forecasts by using historical information, thus predicting future activity volumes and determining the number of staff required to meet these volumes. The company offers both short and long term forecasting tools, multi-media forecasting, and campaign modelling. Forecasting for special event days (such as public holidays, sales campaigns and seasonal trends) and shrinkage (including sickness, training and annual leave) can also be incorporated into the staff forecast, along with “what if” scenarios.

~~~