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 Your source for the latest technology information of interest to credit unions across America.

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December 19, 2016

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

BB

 

General News  

* VSECU Earns GABV Membership
* 49 CUs Move to Sharetec in 2016
* EventTracker Launches SIEMphonic
* Staley CU Selects Fiserv's Corillian

VSECU announced it has been accepted as a member of the Global Alliance for Banking on Values (GABV), an independent network of values-based banks, banking cooperatives, credit unions, microfinance institutions, and community development banks from across the world. Vermont-based VSECU is the first credit union in the U.S. to earn membership in the global organization, joining 35 other FIs in a joint commitment to use finance to promote sustainable social, environmental, and economic development.

Sharetec System, one of the fastest growing core systems, announce 49 successful Service Bureau installations for 2016. Sharetec offers clients a Class One Service Bureau designed to lower initial investments and provide enhanced security.

EventTracker, a leading provider of security information and event management (SIEM), announced the launch of SIEMphonic, a comprehensive managed security service. SIEMphonic combines SIEM technology, intrusion detection, vulnerability scanning, flow analysis and HoneyNet capabilities with a fully managed security service.

Staley Credit Union has adopted Fiserv's Corillian Online platform. The $130 million credit union based in Decatur, IL also implemented Fiserv's Mobiliti for its members' mobile banking needs and Popmoney as a P2P payment service.

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Hardware News

BroadSoft UC-One Conference Room comes bundled with a combination of lightweight Logitech and Intel hardware and their software which they claim allows organizations to add any physical office conference room to a virtual conference with a single click. They say that their video conferencing package extends the meeting experience to any room with a flat screen monitor. You can screen-share and chat with everyone in the video conference room, both internal and external. For invitees, there is no software to download, they simply click a link from their browser to join the video conference.

In a related story, Microsoft is reporting very strong demand for their Surface Hub conferencing systems. Surface Hubs are multitouch video conferencing systems available in two versions: 55 and 84 inches. The Surface Hub systems, which run a custom version of Windows 10, are pre-assembled, customized multi-touch, digital-ink-enabled collaboration systems. Microsoft announced that they will be adding a Surface Hub "Try-and-Buy" program whereby organizations can try Hubs for 30 days before they can decide whether or not to buy. 

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

 

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Software Updates

According to Computerworld's Forecast 2017 survey, IT professionals will prioritize security, analytics, XaaS or "as a service" technology, virtualization and mobile apps in the coming year. For virtualization, here are the priorities of the respondents:

- 16% desktop

- 11% storage

- 10% server

- 8% mobile

- 7% network

Barometer is a software-as-a-service assessment and training solution for lenders that was developed by D+H. Built on Microsoft`s Azure cloud platform, Barometer can help financial institutions more effectively train employees on risk culture and shifting financial regulations. The company claims that it is a first of its kind solution that allows lenders to access the capability of their back-end underwriters in order to improve the quality of their lending operations. Managers and compliance officers can also view results and analytics on the service, which can lead to a better understanding of an employee`s lending decisions and help develop improved risk reduction strategies.

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Software Updates Sponsored by
LogRhythm

FI fraud activity reached an all-time high in 2015, and in turn Credit Unions increasingly need software able to produce real time alerts on suspicious so that fraud analysts can be more proactive. LogRhythm's Security Intelligence and Analytics Platform consolidates analytics into a single platform and provides out-of-the-box Compliance Automation Suites to help financial enterprises comply with requirements, deliver automated reports, and produce forensic investigations.

Learn how Alliant Credit Union has successfully implemented real-time fraud detection by clicking here to read their case study.

 

LogRhythm Security Intelligence and Analytics Platform

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ATMs/Kiosks

ADA ATM scammers and their lawyers are constantly on the lookout for ways to extract money from ATM deployers. One good way for ATM deployers to defend themselves is to perform regular documented ATM inspections. This way you can produce documentation that shows an ongoing history of compliance. Additionally, security video footage can be a big deterrent for fraudulent lawsuits.

Night Lion Security announced that they are releasing CardShield which is an endpoint security detection device. The company states that their endpoint security device is capable of both rapidly identifying malware on point-of-sale (POS) systems and detecting modern credit card skimming devices commonly embedded within ATMs. CardShield's skimmer component is designed to detect Bluetooth-enabled skimming devices, and their software helps detect malware on POS systems and card terminals by analyzing and detecting rogue behavior in network traffic as it happens.

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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:  

DCI

DCI

and their client is:

Morton 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

Synaptics announced a new line of optical fingerprint sensors, called the Natural ID FS9100, that will allow phone makers to place the sensor, complete with biometric technology, under the glass on the front of the phone. This could enable the elimination of the home button, and thus pave the way for full top-to-bottom, edge-to-edge smartphone and tablet displays. With the Synaptics technology, the home button features, including fingerprint sensing, would hide behind a piece of glass but deliver the same functionality.

Cortana is an intelligent personal assistant created by Microsoft for Windows 10, Windows 10 Mobile, Windows Phone 8.1, iOS and Android. The software giant just unveiled the Cortana Skill Kit, a set of tools that will allow developers to leverage Microsoft bots and create new Cortana implementations. Capital One is the first financial services company to sign on to the platform and utilize their existing investments in voice technology to enable users to manage their money through a hands-free, natural language conversation with Cortana.

In its third annual Mobile Banking App Study, MagnifyMoney compiled the ratings of iOS and Android banking apps from over 100 of the biggest banks and credit unions, including the 50 largest banks and 50 largest credit unions along with a selection of top online direct banks. Credit unions nearly swept the top 10 rankings for all apps this year, taking 9 of the top 10 spots. Here are some credit unions that fared well:

  • Best Overall App: Eastman Credit Union with a score of 4.8, down from 4.7 in 2015.
  • Best App Among the 10 Largest Credit Unions: PenFed with a score of 4.3, down from 4.4 in 2015.
  • Overall Most Improved App: BECU, whose score rose 58% year over year, from 2.5 to 3.9.

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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

DB Networks announced an agentless database activity monitoring (DAM) solution based on artificial intelligence. DB Networks is combining its DBN-6300 database monitoring and security technology with the CyberArk Privileged Account Security Solution to help strengthen organizations` overall security posture with a next-generation DAM solution. They also note that machine learning is utilized to automatically identify and alert on any suspicious, unusual, or abnormal access to sensitive data or critical systems.

ObserveIT, a leading provider of insider threat management software, announced that they have updated their ObserveIT platform to version 6.7. Some of the new features are: enhanced insider threat library; expanded website categorization; detect print data exfiltration; anonymization for privacy compliance; and a new Mac agent. They say that the new features make it even easier to identify the people – vendors, privileged users and high-risk users – who pose the biggest insider threat.

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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

Fiserv's Expectations & Experiences quarterly consumer trends survey found that consumers increasingly expect financial services on-demand and on their terms. According to the survey, more than half (53 percent) of consumers prefer online or mobile banking for standard daily transactions. Forty four percent said they preferred a traditional branch while two percent chose a fully automated branch with no personnel on site. More than 80 percent of consumers logged on to their primary FI`s banking site in the last month, averaging just over 11 visits each. A surprisingly high 61 percent said they visited their primary FI`s branch in the last month.

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Online Banking/E-Commerce/Website Design

Visa and MasterCard have signed a landmark reciprocity pact that means that Visa will be able to request tokens from MasterCard for MasterCard-branded cards consumers want to load into Visa Checkout, and MasterCard will be able to do likewise for Visa Cards digitized for MasterPass. The two industry titans have been tokenizing their payment cards since 2014, but have not been able to access tokens for cards branded by the other network until this agreement. The pact, which formally links the MasterCard Digital Enablement Service and the Visa Token Service, will go live in 2017 and will let each network access the other network`s token engine via an API call.

According to a report by Cerulli Associates, the digital financial advice market will top $83 billion by the end of 2016, and is projected to reach $385 billion in the next five years. However, the report states that digital advice platforms, AKA robo-advisors, “are not the fundamental disruption that the traditional financial industry has been concerned about.” They recommend that FIs need to focus on comprehensive advice, not just portfolio management, to meet consumers` expectations.

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Internet Access

Just a few dozen vendors offer some kind of SD-WAN (software-defined wide area network), but before you take the plunge you have to consider your strategy. There are three basic options:

- DIY SD-WANs: mostly geared towards large enterprises that have the engineering talent to make the transition and can command the attention of an SD-WAN supplier

- OTT SD-WAN Services: over-the-top SD-WAN providers use their own core networks, while last-mile access is provided by the local internet provider

- Bundled SD-WAN services: take an OTT SD-WAN service a step further, providing the option to control the local access and core of their networks

Riverbed, with its successful WAN optimization technology, has long competed with Cisco, but now they are looking to take on Cisco's routing business with their new SD-WAN routing technology. The company says that their deep packet inspection technology and Layer 7 routing capabilities enable them to route data in terms of speed, cost, performance and security for each user according to the application type. SteelConnect, their SD-WAN routing product, uses cloud-based management and orchestration software to control the deployment of branch routers and allows them their routes at Layer 7 using application knowledge. They claim that with just a few mouse clicks a network manager can deploy and configure a new router anywhere, and change the routing rules of all of their routers in a matter of minutes, as well as back up and correct it in a manner of minutes.

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Call Centers

Microsoft is looking to help make it easier for contact centers to create intelligent bots that can answer common questions with the beta launch of QnA Maker. In action, employees train an automated conversation partner on existing frequently-asked-questions content. After that information is assembled in a database, the service will create a bot that will respond to visitor questions with the content from the knowledge base. The system creates an API endpoint that can be used as a bot on its own or integrated into another, larger conversational system. There is currently no cost to use the system, but it limits users to 10,000 transactions per month, and 10 transactions per minute.

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