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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.

December 12, 2016

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

BB

 

General News  

* ESP Signs SEI-US CU
* NetWatcher Wins Financial Services Provider Award
* CHROME FCU Selects SmartCore
* JHA & Early Warning Partner

Enhanced Software Products (ESP), a Spokane, WA-based core data processing processor, recently added SEI-US Credit Union in Pocatello, ID to its core processing solution FORZA3. SEI-US CU represents the second Idaho credit union in as many months joining the team at ESP. They will also be deploying ESP`s Audio Response, Mobile Banking, Paperless/Imaging Solutions and other modules.

NetWatcher announced that it has been recognized by CIOReview as one of the 2016`s top 20 Financial Services provider. NetWatcher provides a solution that enables credit unions to meet regulations including Payment Card Industry (PCI), Sarbanes-Oxley Act (SOX), Gramm-Leach-Bliley Act (GLBA), and other compliance programs that require log storage, management, and monitoring.

NYMBUS announced that CHROME Federal Credit Union in Washington, PA, has selected their SmartCore by NYMBUS as its new core banking platform. The $170 million-asset CHROME plans on being a digital-first credit union and aspires to reach $500 million in assets by 2020.

Jack Henry & Associates announced a strategic alliance with Early Warning to resell Early Warning's Zelle Network to partner FIs. Zelle, a new payments network, will enable credit union members to send faster person-to-person (P2P) payments to nearly anyone with a U.S. FI account.

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Hardware News

Dell, EMC, and VMware rolled out a new VxRack hyper converged system that has migrated to Dell's PowerEdge servers. EMC, before Dell acquired the company, launched VxRail in 2016 with white-box servers, EMC storage and VMware software. Now that Dell and EMC are one company, the VxRack server portion of the system will be PowerEdge-based. In addition to integrated software, VxRack SDDC comes as a complete physical infrastructure package including racks, networking, physical asset security and cable management.

Arista`s new 7160 series of network switches feature sophisticated programmability that allow IT Departments to customize their products to their specific location needs. The series offers "Flexible Forwarding Profiles" that enable the switches to be programmed by users for their specific needs. The new switch family also includes "AlgoMatch" which is a combination of general purpose memory with advanced software algorithms. Arista says that AlgoMatch delivers enhanced support for flexible access control, traffic management and telemetry, plus increased scale for IPv4 and IPv6 addresses, stronger security policies and better flow filtering. 

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

 

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Software Updates

Fidelis Cybersecurity announced new features, enhancements and usability improvements to its Fidelis Endpoint product. They say that their platform identifies compromised endpoints and automates your investigation and response by eliminating time-consuming manual steps so you are able to triage and validate suspected incidents faster. Enhancements included in Fidelis Endpoint 6.1 include:

- Real-Time Event Monitoring

- Enhanced Detection Engine

- Event Driven User Interface

- Script Support for All Jobs

Virtru says that their Customer Key Server provides organizations with exclusive ownership of encryption keys for better protection and control of sensitive data. The solution allows you to enable client-side encryption without having to trust third parties with encryption keys or unencrypted content. It also helps meet data residency requirements by specifying the locations where your encryption keys are stored.

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Software Updates Sponsored by
AlienVault

Applying FFIEC cybersecurity observations can prove to be a difficult challenge for many credit unions. This whitepaper provides a walkthrough of the various FFIEC Cybersecurity General Observations and explains how AlienVault USM helps you adhere to them and align with compliance requirements.

Download your copy today to learn how USM allows you to meet FFIEC compliance, apply the FFIEC's Cybersecurity General Observations and accelerate your threat detection.

 

AlienVault

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ATMs/Kiosks

The International Bank of Azerbaijan recently introduced a sophisticated new digital branch kiosk that is based on the VTM.iQ hardware and software platform, and includes the Diebold Nixdorf CS 6060 automatic teller safe. It features video conferencing to tellers or loan officers, a built-in printer, and a scanner. Additionally, the kiosk user can order a debit card, immediately receive it, activate it and change its PIN on the spot.

According to the results of a survey by First Annapolis Consulting, losses on PIN debit transactions for payment and at ATMs are rising quickly. Debit card transactions with PIN authentication have historically been seen as the most secure form of payment available, but the research firm found that net fraud losses as a fraction of total dollar volume rose to 7.3 basis points on average in the first quarter for PIN debit, compared to 5.9 basis points for all of 2015. They suspect that a dramatic rise in ATM skimming is contributing to the rise in debit fraud, as is the increasing popularity of PINless debit processing at many EFT networks.

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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:  

OnBase by Hyland

OnBase

and their client is:

Midwest Community 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

FI Navigator and Celent released “Mobile Banking Quantified: Comprehensive Benchmarks for US Vendors & Institutions,” which provides quantitative analysis of mobile banking trends for nearly 7,000 American FIs and 48 retail mobile banking technology providers. Highlights from the report include:

  • Of all FIs, 57 percent (6,899) offer a mobile banking app; (excluding FIs with fewer than $100 million in assets increases the proportion to 85 percent)
  • Total consumer enrollment in mobile banking to total deposit accounts is 27 percent
  • For FIs with more than $500 million in assets, those offering mobile deposit experienced 115 percent higher enrollment compared to those that did not offer the feature
  • From September 2015-2016, 1,552 FIs added quick balance to their respective mobile banking apps, making it the most widely adopted feature in that time

Mobile.up is an iOS and Android development platform that contains a set of common and core services that support separate function development during mobile banking app development and customization. W.up, the developer of the platform, claims that core features such as account and card overview, statements, card operations, traditional transfers, payment to phone number and push notification services are deliverable within three months, followed by new releases every three months. Additional features such as an ATM locator, call center authentication or gesture functions are available à la carte.

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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

Infinite Group announced the launch of its Nodeware Vulnerability Management Solution which is designed for small to mid-sized organizations. They state that the software proactively identifies, monitors, and addresses potential vulnerabilities within networks via “plug-and-play” simplicity. In action, Nodeware locates and identifies connected devices on your network such as computers, printers, routers and smartphones and continuously scans those devices for vulnerabilities. The system also has the ability to scan external IP addresses for vulnerabilities.

GO-Trust announced the availability of the GO-Trust Authenticator which they say offers a whole new approach for securely logging into Windows and cloud services. The user`s iPhone or Android phone communicates with the work computer and once the user`s identity has been confirmed via the ‘one touch` fingerprint sensor or the ‘one click` camera for facial recognition, a secure dialogue logs into Windows with the equivalent of a long and complex password. The authentication mechanism supports both PKI and FIDO UAF. The GO-Trust Authenticator can also be used, with the same simplicity “One Touch” to sign and encrypt e-mails and office documents.

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Security Section Sponsored by
StrongAuth, Inc.

StrongAuth

 

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Leaders Roundtable

Core Systems:

The Foundation of Your Member’s Experience

 

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

 

CU Answers

 

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

 

 

Member Driven Technologies - http://www.mdtmi.com
Read Matthew Baaki's comments:
https://www.cunews.com/MDT.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

Air Force Federal Credit Union (AFFCU) has launched a non-traditional transactional checking account called the SAF-T account. It does not have checks and only PIN-based transactions can be done on the AFFCU debit card. There are no monthly maintenance fees and it protects members from fees such as NSF, Courtesy Pay, Overdraft Protection, Dormant account and other fees. eStatement sign-up is mandatory for account holders. The goal of the product is to help members develop disciplined transactions and spending habits.

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Online Banking/E-Commerce/Website Design

Yodlee has launched its Mortgage Asset Verification product that gives lenders a report that helps them verify an applicant`s assets without requiring the consumer to supply account statements. The report, which is built around the Fair Credit Reporting Act framework, offers real time account, transaction, cash, and investment asset data sourced from the applicant`s financial institutions. It is available as a PDF or data package so that it can be shared easily with third parties. The solution can also be integrated into a lender`s existing system via API.

FIDO-based Security Keys are devices that are designed to make 2-Step Verification easier and more secure for users. Security Key can be implemented via a USB device, although the Security Key`s underlying protocols are standardized and can also be used via NFC (contactless) and Bluetooth Low Energy. Google has successfully deployed Security Keys to more than 50,000 of their employees. Authentication executes in milliseconds, and Google is reporting zero authentication failures in their rollout. Security Keys also protect users against password reuse, phishing, and man-in-the-middle attacks by generating cryptographic assertions over the website`s URL and properties of the transport layer security (TLS) connection.

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Internet Access

According to a recent report by IDC, Software-Defined Wide Area Network (SD-WAN) revenues are estimated to exceed $6 billion in 2020, pegging a growth rate of over 90 % over the 2015-2020 forecast period. Here are a few reasons that SD-WAN proponents put forth in touting SD-WAN implementations:

- Agility in Deployment

- Cost Reduction

- Enhanced Network Security

- Improved Application Performance

The Cloud Security Alliance (CSA) announced the launch of its new STARWatch application, a Software as a Service (SaaS) application designed to help organizations manage compliance with CSA requirements. STARWatch delivers the content of CSA`s Cloud Control Matrix (CCM) and CSA`s Consensus Assessments Initiative Questionnaire v3.0.1 (CAIQ) in a database format, enabling users to manage compliance of cloud services with the CSA best practices. Currently there are 228 Cloud Service Providers in the STAR program.

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Call Centers

About 16 percent of contact center buyers say that they plan to move their contact center systems to the cloud, according to a study by Forrester Research. Unified cloud platform proponents argue that cloud contact centers not only lower costs, but they deliver a multitude of benefits such as real time communication, streamlining of processes, better messaging, easy support for remote agents and more. Cloud-based unified communications can also provide access to more sophisticated features such as speech analytics and business intelligence that on premise systems cannot deliver.

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