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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.

October 5, 2015

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

 

General News  

* Sharetec & Allied Payment Network Partner
* ORNL FCU Implements Kony`s Mobile Platform
* EPL Forms Partnership with the NFCDCU
* CU*Answers Deploys Burstable Capacity

Sharetec System, one of the fastest growing core systems, announced that they have partnered with Allied Payment Network to provide credit unions Picture Pay technology. The Picture Pay mobile photo bill pay solution enables credit union members to pay any bill by simply taking a picture of the bill with their smartphone.

Kony, a leading enterprise mobility company, announced that it has helped ORNL Federal Credit Union develop an enterprise mobility strategy built on Kony`s cloud-based mobile platform. In addition to providing a mobile banking app for its 167,000 members, Kony developed two other features for ORNL: Focus Money Manager and a Community Events module.

The National Federation of Community Development Credit Unions has formalized an agreement with EPL of Birmingham, AL to develop CU Impact, a shared core banking platform to scale up the delivery of products and services offered by credit unions serving low-income and undeserved communities. They say that this technology platform will accommodate ongoing innovation, facilitate collaboration and shared services, generate growth and ultimately increase the impact of credit unions working in low-income and underserved communities.

CU*Answers, the Grand Rapids, MI-based cooperative CUSO, is now activating “burstable capacity” on its core IBM servers that support an online user base of nearly two hundred credit unions. They note that elastic capacity on demand (ECoD) allows them to activate memory and/or processors on a daily basis as their business needs dictate.

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Hardware News

Giada USA manufactures low cost servers and thin clients that use very little power. The company has just come out with its new F103D mini PC which is designed for digital signage and thin client deployments. It features the latest Intel Braswell chips, 2 GB of memory, an integrated Intel HD Graphics engine that can be connected to a display using a VGA port or an HDMI port, and a no-fan design. An optional remote control can be used when the F103D is deployed as a signage device, and the small unit can be easily mounted behind a display. The F103D supports Windows 7, 8.1 and 10, in addition to x86 Linux operating systems. Android compatibility will be coming in 2016, according to the company.

Hewlett-Packard just launched their new Skylake mini PCs. The EliteDesk 800 comes in either a 35-watt version that supports Intel's quad-core Core i7-6700T, or a full 65-watt unit that uses a Core i7-6700. Both will support up to 32GB of DDR4/2133 and M.2 SSD, plus a 2.5-inch drive. The EliteDesk 800 is somewhat unique in that it supports configurable ports, e.g., RS-232, DisplayPort, HDMI, serial, etc. For the security conscious, HP sells a full cage for the Mini PC that locks down the system and the cables. An optional LockBox cover can physically block port access, too. 

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

 

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Software Updates

Splunk has unveiled a monitoring solution dubbed IT Service Intelligence (ITSI) that they say provides new levels of visibility into health and key performance indicators of IT services. The software uses advanced analytics driven by machine learning to highlight anomalies, detect root cause and pinpoint areas of impact. Splunk ITSI also scales to collect and index terabytes of real-time and historical events and metrics across multi-datacenter and Cloud-based infrastructures.

Tamr offers a free, downloadable tool designed to help tackle the "dark data" problem. Dark data generally refers to unstructured or qualitative data an organization collects, processes and stores but doesn't use for analytics or other purposes. Tamr says that their solution can help organizations create an inventory of their data sources, including metadata about who owns the source, what tags have been applied to it and profiling metrics about its tables and attributes. The tool can also document different kinds of data sources as well as the people who might be associated with them.

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ATMs/Kiosks

The ATM Industry Association is reporting an uptick in fraudulent ATM withdrawals and is launching an investigation. Research commissioned by ATMIA shows that about 20–25 percent of these disputes are fraudulent, and cost the industry some $20 million annually. In action, scammers make withdrawals of $100 to $200 from numerous ATMs and then file a dispute for each, claiming that no cash was received. The group said that it is in discussions with numerous ATM networks and is working towards resolutions.

The Bureau of Engraving and Printing (BEP) prints nearly $20 billion dollars worth of notes per month. The BEP prints tens of millions of $20 banknotes - which is the denomination most commonly used in ATMs - each month. U.S. banknotes cost an average of 10 cents each to produce, and 90 percent of new notes printed are replacements for bills removed from circulation.

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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:  

Shoreline

Shoreline

and their client is:

Apple 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

Pradeo provides mobile application security solutions for smartphones, tablets and connected objects (IoT). They offer three products:

* AuditMyApps: a web platform of Application Security Testing with an objective to provide the user a full security report for one or several mobile apps

* AuditMyApps: an auditing tool available as a Cloud service or as an on-premise appliance

* CheckMyApps: next-generation antivirus for mobile applications

Kony announced their new Mobile Retail Banking Quick Start solution which is a managed services offering that they say enables mid-sized credit unions to implement a fully-functional and personalized mobile app for their members within 100 days. The platform combines a retail mobile banking app template, personalization and integration services, and mobile app platform runtime into a single solution. Annual upgrades to the latest versions of mobile operating systems (iOS and Android) are included.

Some observers believe that the EMV card and POS rollout represents a great opportunity to get your cardholders on board with Apple Pay and Android Pay. That is because the “chip dip” is time consuming compared to the use of NFC. They say that the "tap and go" aspect of NFC is measurably faster than plastic EMV cards and this creates a better user experience.

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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

Tanium says that their platform allows IT Departments to proactively look for abnormal, anomalous, and potentially malicious activity occurring within their network. They state that their "linear chain communications architecture" collects information from every endpoint in the environment, and takes a subsequent action — all in less than 15 seconds.

According to the Department of Justice, almost 18 million people were victims of identity theft in the United States last year, with the majority of crimes targeting credit cards and FI accounts. The figure represents 7% of the U.S. population aged 16 or older and is a rise of 1 million people from 2012. About half of all victims first became aware of a problem when they were contacted by their financial institution, with a further one in five noticing fraudulent charges in their account.

Cyber attacks that exploit privileged and administrative accounts – the credentials used to manage and run an organization`s IT infrastructure – represent the greatest enterprise security risks, according to survey results from CyberArk. Respondents were asked which stage of an attack is the most difficult to mitigate:

  • 61 percent cited privileged account takeover; versus 44 percent in 2014
  • 21 percent cited malware installation
  • 12 percent cited the reconnaissance phase by the attackers

Respondents were asked what attack vectors represented the greatest security risks:

  • 38 percent cited stolen privileged or administrative accounts
  • 27 percent cited phishing attacks
  • 23 percent cited malware on the network

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Leaders Roundtable

Core Systems:

Supporting Omnichannel Delivery with the Core System

Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

 

Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

 

COtopia

 

D+H - http://www.dh.com
Read Spencer Jones' comments:
https://www.cunews.com/D+H.pdf

 

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

 

Fiserv - http://www.fiserv.com
Read Mark Sievewright's comments:
https://www.cunews.com/Fiserv.pdf

 

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf

 

 

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Technology and Marketing

Blue Ridge Bank is the first institution to take advantage of a change in Virginia law allowing prize-linked savings (PLS) accounts. The law was designed to be an inducement for people, especially lower-income consumers, to put money into an emergency fund rather than buying lottery tickets. Each month, the Luray, VA-based bank has a drawing with one $200 winner and four $50 winners. At the end of the year, it will give away a jackpot of $5,000. In 2009, the non-profit D2D group and Michigan credit unions created Save to Win, the first scaled PLS-based program. Save to Win Michigan has grown to over 50,000 unique accounts saving more than $94 million. Meanwhile, more states are ending their bans on FI jackpots, including Oregon, Illinois, and Minnesota.

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Online Banking/E-Commerce/Website Design

The WalkMe platform, which can be used on any HTML platform accessed from a standard web browser on a PC or mobile device, is designed to guide and engage website visitors through any web experience. It includes the following features: Walk-Thrus, analytics, pin-pointed search, onboarding and surveys. The company says that their software can be used for selling, customer service, training and to generally improve the overall user experience.

Crowdnetic announced the launch of "Marketplace Lending Gateway" which is a centralized technology platform that connects loan applicants from FIs and retailers to alternative funding sources through a real time matching and allocation engine. The company says that Gateway provides an attractive referral alternative for credit unions by allowing them to connect members to a broad range of third party loan products and to monetize loan turn-downs. Gateway is designed to support a number of loan sourcing channels including in-branch, online and email-originated loan applications. Gateway also accommodates credit union branding preferences by offering a variety of white label solutions designed around specific partner branding strategies.

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Internet Access

AT&T is working on a project known as Network on Demand, or Domain 2.0. Cisco, Juniper Networks and Brocade are helping to develop virtualized network functions (VNF) products for AT&T. For example, Brocade will develop cloud-based access routing for the carrier`s Managed Internet Service. It means customers won't need to buy additional routers at their locations. The products overall are intended to give customers more control by allowing them to quickly update network functions.

Teleconference and group-calling solutions provider iotum announced enhanced service offerings such as HD audio, free video conferencing and screen sharing. The new features offer pre-packaged upgrade bundle plans with high-quality sound, reminders, PIN-less Entry, and in-call dashboards. FreeConference.com now also offers transcription, toll-free numbers and recording controls for a small fee.

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Call Centers

In some surveys, up to 60% of callers have said that they believe that one minute is too long to wait for an agent. For many call centers, this is simply an impossible target to meet. One great option is to implement a callback system. This helps lower abandon rates, reduces agent idle time and saves the credit union money. It also gives the caller the freedom to work on other activities and helps validate that the credit union values their time and business.

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