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August 15, 2016

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



General News  

* 11 CUs Renew Payments Processing Contracts with PSCU
* ESP Adds Emailing Receipts
* Fiserv, Early Warning Enter Into Payments Alliance
* MDT Migrates Coors CU

PSCU, the nation`s largest CUSO, announced that 11 of its owner credit unions have signed extended contract renewals for their credit and debit card processing services. The eleven CUs are: Arsenal Credit Union; Catholic Federal Credit Union; Coastline Federal Credit Union; Credit Union of America; Dupont Community Credit Union; Florida Credit Union; InFirst Federal Credit Union; Lafayette Federal Credit Union; Mid-Minnesota Federal Credit Union; Wanigas Credit Union; and Wright Patman Congressional Federal Credit Union.

Enhance Software Products, Inc. (ESP) announced that they have added receipt email capabilities to their FORZA core system. The Spokane-based data processing vendor said that the feature provides the ability to email the receipts from the teller line or anywhere else in the system quickly and easily, and is being included at no charge to their credit union clients.

Real-time payments, authentication and risk mitigation provider Early Warning and Fiserv have announced a strategic alliance to extend the availability of real-time person-to-person payments. Through the collaboration, Fiserv will market Early Warning`s real-time P2P solution, expanding the reach of money movement across thousands of financial institutions and millions of people.

Member Driven Technologies (MDT), which currently serves clients in 28 states, announced that Coors Credit Union in Golden, CO, is live on Symitar Episys core processing through MDT`s CUSO solution. Coors CU has 20,000 members and over $225M in assets.




Hardware News

Tape backups are still popular because it is very difficult to beat the price of tape on raw cost per GB when compared to hard disk backup solutions. But companies such as Rubrik and Cohesity are bringing changes to disk-to-disk backups. Cohesity's focus is on secondary storage while Rubrik is focused on data protection. Rubrik is designed to configure backup and replication directly from the application, plus it supports running VMs directly from the appliance. Meanwhile, Cohesity can work as a standalone data protection system, but some believe that it might be better configured to work with other products such as Veeam or Commvault.

Crucial claims that their Crucial MX300 solid state drives enable personal computers to boot up almost instantly, load programs with ease, and accelerate demanding applications. They use NAND flash memory within Crucial SSDs to speed up boot times. The product is now available in 275GB ($69), 525GB ($129), 750GB ($189) and 1TB ($259) capacities. 


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


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Software Updates

Network Monitor Freemium from LogRhythm is a commercial grade, network monitoring, forensics and traffic analytics solution that delivers real-time visibility into your network. Unstructured search, real-time Deep Packet Analytics, and Layer 7 application recognition all help to streamline cybersecurity investigations. The package features automatic recognition of over 2,700 applications and extensive, corresponding metadata, full packet capture and customizable advanced correlation.

Getting your data into shape for analysis and visualization is called data wrangling. Platforms like Dataiku DSS and Microsoft Power BI offer data wrangling options, as does a company called Trifacta. Their software handles transformations such as changing column data types, filtering based on various criteria, splitting columns on a delimiter, joining and aggregating multiple data sources, and reordering columns. It also comes with its own Wrangle scripting language. The complimentaty version of Trifacta will pull in .txt, .csv, .json, .log, .gz, .xls and .xlsx files up to 100 MB. The paid version offers many more options.


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Spare, which has been dubbed an "ATM Killer," just released their new 3.0 version. In action, Spare users have the app locate a nearby merchant with cash on hand to dispense and authenticate using their phones at the point of sale in order to get their cash for less than the cost of an ATM fee. The company says that the new version enhances the user experience and security, offers API integration with credit unions, and creates a "more reliable mobile ATM solution."

America First Credit Union has added Glory Global Solutions' TellerInfinity assisted service solution at their Innovation Center in Salt Lake City, Utah. The AFCU installation runs Antuar inBranch Kiosk software, with teller assist capability driven by Antuar inBranch Transact, which features a tablet-based interface that Innovation Center employees can use, as needed, to help members with self-service transactions. The credit union uses their Innovation Center to test new technologies before implementing them in their 120 locations.


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:  



and their client is:

University of Iowa Community 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

Security concerns still remain the top issue holding back mobile banking adoption and usage as evidenced by a recent survey by the Federal Reserve that showed that 42 percent of mobile phone owners believe mobile banking leaves personal information very or somewhat unsafe, and another 15 percent are unsure about the safety of mobile banking. Experts recommend to avoid using public Wi-Fi, and use a virtual private network (VPN) to secure your connection when connecting to corporate resources. Android users may want to consider free anti-malware mobile software like Malwarebytes Anti-Malware Mobile or 360 Security – Antivirus Boost.

Cradlepoint is a WAN (wide area network) vendor that brings Network-as-a-Service to market to connect people over a wireless WAN infrastructure. Cradlepoint is known for providing wireless WANs utilizing 4G LTE, and they now offer the Cradlepoint NetCloud platform which enables software-defined and cloud-based wireless (and wired) broadband networks for branch networks. They say that their solution delivers dramatic savings over MPLS (Multiprotocol Label Switching which is commonly used to connect branches), a reduction in human capital needed, and a reduction in the complexity of building WANs. Their virtual network works just like a virtual LAN switch in the cloud and features end to end encryption.


Wireless World Sponsored by
Member Access Pacific (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

illusive networks has unveiled a new family of deceptions that they say detects, alerts and neutralizes ransomware in real-time. illusive`s Advanced Ransomware Guard deploys ransomware-specific deceptions across the entire network, endpoints and servers and helps neutralize ransomware activity at the source hosts. A Deception Management Server is the management console where deceptions are created and deployed and the forensic tool is launched in real-time when an attack is detected. The Deception Management System is continuously planting new and different deceptions and the Trap Server triggers alerts when a sensor detects that a deception has been tripped. No agent software is installed on any devices on your network.

EyeLock has enhanced their solution in an effort to remove some of the friction associated with iris scanning technology, and boost adoption rates. They say that it is now more user friendly in that it can authenticate at a distance of about two feet and works with glasses, contact lenses, and even in bright daylight. EyeLock states that their dual-iris authentication method produces one of the lowest false acceptance rates (FARs) in the field, and that only DNA is more accurate.

Kudelski Security, a Swiss-based company, announced the launch of its U.S. presence in Phoenix. The company said that they offer cybersecurity programs that include consulting, technology, managed services, training, and technical support. The firm has numerous American technology partners, including F5 Networks, Palo Alto Networks, CrowdStrike, and others.


Security Section Sponsored by
StrongAuth, Inc.



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Leaders Roundtable

Online and Mobile Banking:

Digital Differentiation Strategies


Arizona Federal Credit Union - https://www.arizonafederal.org
Read Eric Givens' comments:



IMM - http://www.immonline.com  
Read John A. Levy's comments:


Javelin Strategy & Research - http://www.javelinstrategy.com
Read Mark Schwanhausser's comments:


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


RLR Management Consulting - https://rlrmgmt.com
Read Mitch Razook's comments:


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Technology and Marketing

Building a social media presence requires developing and gathering good content. Some organizations boost their content by using services like Google Alerts and Talkwalker to provide ready access to relevant articles based on specific keywords. After developing content, decisions must be made about the frequency and timing of content. Some social media experts recommend these numbers if possible: five to ten Facebook posts per week; one to three tweets per day; and one to two Instagram updates per day. Naturally, if you have a special community event going on, more posts than usual may be appropriate.


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Online Banking/E-Commerce/Website Design

Yodlee is adding transaction data enrichment features to their Financial Data Platform. This means that they will be applying machine learning algorithms to the pool of data they collect in order to add contextual information to the raw transaction data, e.g., a simple description, merchant name, category and transaction type. They note that credit unions can use this data to better understand and serve their members, while members should find it easier to identify charges on their statements.

Auto title lending platform developer Finova Financial has raised more capital and is moving forward with their Car Equity Line of Credit (C-LOC) offering that charges a maximum APR of 30%, with all fees (such as DMV lien fees) rolled into the life of the loan. Their platform, which they call the industry`s first all-digital lending platform serving the auto title loan marketplace, enables borrowers to use the equity in their car to obtain same-day, emergency cash funding. Finova provides instant approval decisions, 1 year maximum terms, and users can apply for loans as well as make payments online or via mobile device.


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Internet Access

Instant messaging proponents contend that IM is an important productivity tool for teams of all sizes. They point to a survey of employees using chat services conducted by SoftwareAdvice.com that shows that 75 percent saw decreased call and email volume, and 66 percent noticed quick resolution for simple questions. When it comes to productivity, 21 percent noted either a moderate or significant increase. However some believe that it is important to set security/compliance standards and show examples of the types of content best handled via IM, email or other project management tools. For example, a general rule is length, if the message will contain more than a few words or sentences, email most likely remains the best option.

EarthLink is partnering with VeloCloud to offer SD-WAN (software defined wide area network) services for multi-site business customers. VeloCloud Cloud-Delivered SD-WAN will be offered to business customers as part of EarthLink`s solutions suite that also includes a suite of network access, hosted voice, security services, optimized application performance, and bandwidth prioritization controls. The company claims that its one-box solution will set it apart from its competition (e.g., CenturyLink, Verizon, Masergy, MetTel, Vonage, etc.), attracting business customers that are transitioning more of their workloads to the cloud. Additionally, the service provider will offer management capabilities regardless of whether the service is being carried over its own network or that of one of its interconnection partners.


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Call Centers

Some quality control experts believe that every contact center should have desktop recording installed for all of their agents, especially as many are now handling not just calls, but email, chat, video and social media interactions. Screen recording enables the granular evaluation of contact center processes, for example:

- the time required for handling various tasks

- the order of individual process steps

- the ability to pinpoint process and procedure bottlenecks

- the overall efficiency of agent activities