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.

September 7, 2015

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

 

General News  

* Sharetec and ProPay Team for Payment Solutions
* Mobilearth & Geezeo Form Partnership
* Sollievo Offers New Auto Loan Program
* DMA & Baker Hill Join Together

Sharetec System, one of the fastest growing core systems, announced that they have teamed up with ProPay to provide credit unions a convenient payment solution for their members. ProPay allows credit union members to pay mortgages and auto loans by replying to a text message or one-click email invoice and using their favorite Visa, MasterCard, Discover, or account from another financial institution.

Omni-channel, mobile banking provider Mobilearth has partnered with personal finance management (PFM) provider Geezeo to offer PFM as an engagement platform for credit union members. Integrated with Mobilearth`s remote MobiBranch technology, Geezeo`s PFM will help provide a more holistic view of users' assets, liabilities, cash flow, goals, and budgets.

Partial Recourse Protection (PRP) is a new auto loan program offered to credit unions by Sollievo Group through its partnership with private insurance broker Lockton. Sollievo, a wholly-owned CUSO of Mid-Atlantic Corporate Federal Credit Union, said the program is designed to help increase both direct and indirect lending, increase yield and approve more loan opportunities that are currently being missed due to high loan-to-value (LTV) ratios.

Database Marketing Agency (DMA) Corporation, a premier integrated financial services analytics provider, announced that they will join forces to combine DMA`s business intelligence with Baker Hill`s risk analysis, origination and loan portfolio management capabilities. The combined organization serves more than 600 financial institutions in the U.S.

~~~

 

 


Hardware News

The enterprise SSD (solid state drive) market is characterized by three key sections: PCIe, SAS and SATA. Dubbed the "Ethernet of storage," SAS continues to evolve and increase its capabilities. Case in point: the new Toshiba 12Gb/s SAS PX04S Series of drives. Their new SSDs come in a variety of flavors, with high endurance (PX04SHB), mid endurance (PX04SMB), value endurance (PX04SVB) and read intensive (PX04SRB) SSDs available for the varied workloads in the datacenter. The SSDs run the size gamut from 200GB all the way up to 3.8TB of user-addressable capacity.

Gigabyte introduced a new barebones server called the G190-H44 that is a 1U server that supports 4 x double slot GPU / computing cards. The server uses dual 2000W power supplies to support up to four high-power computing cards while providing power redundancy. There are two 2.5" hot-swappable bays, two 1.8" fixed internal bays and two full-length low-profile slots for PCIe cards. Additional storage support includes Intel SATA RAID 0/1/5/10 with four SATA III 6 Gb/s ports. For RAM, single- and dual-rank RDIMM models support up to 32 GB RAM, and quad-rank LRDIMM models support up to 64 GB. 

~~~

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

 

Back to Top


Software Updates

Containers are lighter than the full-sized virtual machines, such as VMware's, because they are not packaged with an entire operating system. They utilize capabilities from the host operating system, which means they can be started much more quickly, as well as moved around more easily. In response to the growing use of containers. VMware is looking to roll out vSphere Integrated Containers which allows the vSphere management software to work with containers. To support containers, the company reengineered the VM, moving some of its functionality, such as the container engine, to the vSphere software itself.

Eaton`s latest Intelligent Power Manager software version 1.5 builds on their platform, allowing IT managers to organize and prioritize groups of VMs within VMware vCenter Site Recovery Manager. The software is designed to synchronize virtual machines and automatically initiate the execution of a recovery plan to avoid data loss and reduce downtime during a power event. It installs into several virtual management systems and can read attributes from both power equipment and environmental data such as temperature and humidity, and can then keep critical applications up-and-running while shutting down non-essential machines.

Kaspersky Security for Virtualization delivers protection to VMware, Citrix and Microsoft virtualization platforms. It includes cloud-assisted antivirus protection, exploit-prevention, application, device and web controls, firewall, vulnerability monitoring and more. Kaspersky Lab licensing starts at $300 per year per core, $110 per year per server or $47.95 per year per virtual desktop.

 

~~~

Software Platform Sponsored by
Parascript

Parascript

Back to Top


ATMs/Kiosks

March Networks has introduced the MegaPX ATM Camera which they say is the industry`s first self-contained, covert IP camera with High Dynamic Range (HDR) image clarity. It is purpose-built to install in leading ATMs, and to help to clearly identify faces. Available with a 2.8mm standard lens or 3.7mm pinhole lens, the camera`s wide field-of-view records ATM users from the waist up rather than just capturing faces to provide more comprehensive video evidence. In addition, an added feature auto-corrects images recorded behind the tinted glass enclosures present in many ATMs. Finally, each MegaPX ATM Camera comes with a unique QR code that technicians can scan to determine a camera`s serial number, verify its warranty status and complete online return forms.

Seeking to cater to people that dislike ATM fees, San Francisco-based Piddly plans to give consumers a more convenient and affordable option when making cash withdrawals. Piddly iPhone or Android app users will be able to get $5 – $20 in cash directly from a merchant via ACH for a $0.50 fee. The company also claims that they can save FIs as much as $6.75 on a single transaction by eliminating the need to reimburse ATM fees or pay interchange to out-of-network ATMs. For consumers, their goal is to eliminate the expensive “$20 ATM withdrawal transaction” whenever a consumer only wants just $5 or $10 in cash.

~~~

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:  

Software and Management Associates

SMA

 

and their client is:

Digital 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!

~~~

 

Back to Top


Wireless World

Nearly a quarter of consumers abandon their attempts at opening a financial services (23%) account, according to a study by Jumio. Even more smartphone owners (56%) abandoned a mobile transaction in 2014. After purchase uncertainty (45%), issues with speed (36%) and ease of navigation (31%) are top reasons cited by those who have abandoned a mobile transaction. In fact, users are more likely to abandon a purchase due to user experience issues than due to the security of payment (27%) or personal information (26%).

Google Wallet has not made much headway since its launch in 2011, but the search engine giant is retooling with Android Pay which operates as more of a conduit for merchant in-app payments and loyalty, while Google Wallet still exists as a place to store payment and personal credentials. The platform will deploy some of the technology used in the defunct Softcard Wallet and include a "Buy with Android Pay" button and a "Save to Android Pay" button for gift cards and loyalty offers.

~~~

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


Security Section

Secure admin workstations (SAWs), also known as jump boxes, are designed to prevent elevated credentials from being pilfered. In action, administrators use only a super secure workstation whenever they do anything requiring elevated credentials. SAWs can be real computers or virtual machines and come with the following characteristics:

- Multifactor access control

- Zero Internet access

- Stringent firewall rules

- Application control whitelisting

- Continuously patched

- Strict auditing

You can build your own SAW, or use commercially available SAWs such as the one offered by Skyport Systems as part of their SkySecure solution.

Check Point is offering a new package dubbed SandBlast that monitors CPU activity for anomalies that indicate that attackers are using sophisticated methods that would go unnoticed with traditional sandboxing technology. All sandboxes try to determine whether files are legitimate by opening them in a virtual environment to see what they do. However some malware is sophisticated enough to bypass these tests, e.g., one evasion technique is called Return Oriented Programming (ROP). However, Check Point says that SandBlaster has a CPU-level detection engine that picks up on ROP anomalies and blocks their actions.

First Internet Bank says that they are the first to roll out Eyeprint ID technology that captures an image of the eye and matches the unique vein pattern to verify identity, eliminating the need to remember and type a password. It uses the camera on iPhone and Android phones to match the eyeprint registered with the device and provide automatic authentication.

~~~

Back to Top


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

 

~~~

Back to Top


Technology and Marketing

Navy Federal Credit Union has been running successful Facebook campaigns such as their “Tell Your Story” campaign that encouraged members to submit videos to Facebook for the chance to win $4000. They also garnered excellent results from their $400 auto-finance rebate ad. Some social media marketing experts contend that creating opportunities for consumer generated content, such as celebrating milestones such as graduation, marriage, and birth, should be on every credit union's marketing agenda. Tools such as GREMLN`s Social Guardian suite that permit you to pre-schedule posts to multiple platforms all in one place can help with implementing effective social media programs.

~~~

 

Back to Top


Online Banking/E-Commerce/Website Design

G&D (Giesecke & Devrient) claims that their new dual interface EMV product, Convego Join, is the only product available today that provides all features needed for full compliance with the Durbin Amendment. The company also claims that Convego Join is the fastest and most secure EMV product on the market, with users reporting a 50 to 70 percent increase in personalization speed compared with other products available today. It supports both contact and contactless payment interfaces, and includes a range of U.S. debit EMV-certified products.

Dwolla is introducing a while label service called FiSync that allows credit unions to use Dwolla's “pipe” for their own faster payments service. The FiSync real-time money transfer system includes fraud analysis, partnerships, and communication protocols via APIs that let credit unions maintain their own look, feel, and name on end-user interactions. The pricing for the white label service begins at $1,500 per month, and increases based on the customer`s needs - there are no other additional transaction costs.

~~~

Back to Top


Internet Access

Unity EdgeConnect helps solve branch connectivity issues by enabling organizations to use the most cost-effective form of connectivity available. Silver Peak also says that EdgeConnect enables organizations to reduce the cost and complexity of building a WAN by leveraging broadband to connect users to applications, also referred to as SD-WAN. Unity EdgeConnect users can create an SD-WAN that enables them to move to a broadband WAN at their own pace, whether site-by-site, or via a hybrid WAN approach that leverages both MPLS and broadband Internet connectivity.

3CX Phone System for Windows is a software-based IP PBX that uses SIP standards and replaces a proprietary hardware PBX / PABX. It comes with an integrated web conferencing solution based completely on WebRTC technology. 3CX Phone System is licensed based on the number of simultaneous calls (internal & external) that an organization makes. 3CX is VMware Ready and all editions support an unlimited number of extensions. You can receive and make calls via the standard PSTN using VoIP Gateways or cards. Pricing starts at $395 for four simultaneous calls.

~~~

Back to Top


Call Centers

Consumer care via social media sites has been dubbed “social care” and is growing in importance as more and more people prefer to resolve service issues via social media. In addition to paying attention to proper grammar, clear responses, and concise phrasing, agents must respond in a very timely manner - next day responses are too late to many social media users. Many people consider social media to be another version of live-agent help and expect super-fast responses to their issues. Many contact centers have developed a readily available response map to know how to best handle different service issues. Fortunately, depending on the nature of the question it is perfectly acceptable, and sometimes preferable, to direct a conversation to another support channel.

~~~