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* United Nations FCU Chooses Fiserv's DNA
* Rivermark Community CU Selects ViClarity
* PhishLabs Launches T2 Spear Phishing Protection
* Samaha Associates Signs 2 CUs
United Nations Federal Credit Union in New York has selected Fiserv's DNA product to handle its core account processing. United Nations FCU, which has about 115,000 members, will also add Fiserv's Activity Manager for DNA for its business process management; tMagic for automated teller capture; Marketing Analytics for business intelligence and marketing automation; and Verifast for automated member authentication.
Financial Abatement Services Inc. (FASI), an affiliate and distributor of Lending Solutions, said that Oregon-based Rivermark Community Credit Union has implemented ViClarity`s Process Management and ERM solution. The credit union will be using ViClarity`s web-based software in the areas of branch certifications, internal audit, and risk management tracking.
PhishLabs, a leading provider of 24/7 phishing defense and intelligence solutions, announced general availability of T2 Spear Phishing Protection. The company says that it is the first solution in the industry using intelligence from real-world phishing attacks to train employees, analyze attacks, and prevent data breaches.
Samaha Associates, a consulting group for credit unions, announced that Fort Bragg Federal Credit Union and SkyOne Federal Credit Union has hired them. The firm will help them make sure that their electronic funds transfer (EFT) systems are optimized, efficient and meet regulatory standards.
The low-level UEFI (Unified Extensible Firmware Interface), which has replaced the conventional BIOS, sits in a protected layer above the operating system. To protect this critical layer, Dell has come out with a new security tool for the company's portable computers. At boot, the tool verifies a UEFI snapshot with an identical copy in the cloud and can notify a user or system administrator of any inconsistency. A copy of the UEFI can then be reloaded on the computer to fix the problem. Dell is also working on a feature in which a hacked UEFI can "auto-remediate" itself. The tool will be loaded in Dell's Precision, OptiPlex and XPS PCs and Venue Pro tablets.
The SanDisk Ultra +Cloud is a USB 3.0 flash drive that offers 64GB of standard onboard storage, and also contains apps for Windows and Mac systems. When you run the app, it gives you access to an additional 64GB of cloud storage. The 64GB of cloud storage is free for three years, and as a security bonus the Ultra has a copy of SecureAccess so that you can encrypt the data on the flash drive.
Visa has unveiled Visa Developer which is a program that is based on a series of APIs that span Visa's services. Currently, Visa Developer has APIs to access 150 different Visa systems, ranging from Visa Checkout and Visa Direct, to the card giant's location and tokenization services.
EDB Postgres Advanced Server 9.5 is an open source alternative to proprietary Relational Database Management Systems (RDBMS) such as Oracle. The system was recently upgraded with changes that help improve performance, enhance security, and provide greater interoperability with Oracle. Also included in the release is an update to Postgres Enterprise Manager, which is now at version 6.0. Improvements in this latest version include deeper support for open-source monitoring systems like Nagios and a failover management system.
Card-less ATM proponents say that it takes about 15 seconds to complete a card-less ATM withdrawal compared with 60 to 90 seconds for a card-based one, regardless of whether it is a chip or magnetic stripe transaction. Security is increased at both the phone (more layers of authentication) and at the ATM (no possibility to use a skimming device). However, even hard core card-less ATM advocates admit that consumer adoption will most likely take some time and much education. Many FIs that have rolled out card-less ATMs are physically escorting ATM users to the machines at their branches to help them through the withdrawal process for the first time.
Xpress Money, a global money transfer company that allows instant money transfer through its 170, 000 agent locations worldwide, is predicting the imminent demise of the ATM. They are comparing ATMs to public phone booths that have virtually disappeared with the advent of mobile phones. They predict the exact same decline "will apply to ATMs as consumers become more accustomed to the use of money transfer services via their corner store or via an app.” They are convinced that the social integration of money transfer will enable family and friends to transfer money to anyone from anywhere and at any time of the day, creating a global money transfer service that eclipses the versatility of financial institutions and their ATM networks.
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:
There are a multitude of vendors focused on helping credit unions enable mobile account opening. Some offer holistic solutions, while others require customization by swapping different mobile account opening capabilities in and out via application programming interfaces (APIs). Alex Johnson, Director, Credit Advisory Service at Mercator Advisory Group, notes that "it is expected that the mobile operating system (with all of its unique advantages and constraints) will eventually become the primary development environment for all consumer-facing and employee-facing bank capabilities, including account opening." The research firm notes that there are about 20 vendors whose solutions can be combined into a comprehensive mobile account opening process.
A new study from Bain & Company on consumer banking trends finds that a routine interaction on a mobile app "is 32% more likely to delight customers than a routine interaction in the branch. Moreover, frequent mobile users said they are 40% less likely to switch banks than customers who rarely use banks' mobile apps." According to the study, 50% of Americans surveyed say they would rather lose their wallet than their mobile phone. Other mobile banking trends for 2016 include increased focus on person to person payments, card-less ATM access, receiving and using coupons via mobile, and controlling debit/credit card usage.
The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
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User and Entity Behavior Analytics (UEBA) is a relatively new security category. Exabeam, Securonix and Red Owl offer UEBA solutions, as well as a newcomer called PatternEx which has roots in MIT`s artificial intelligence lab. Their security platform employs artificial intelligence by learning from input it receives from human security analysts about data exfiltration and FI fraud incidents that it flags. It monitors firewall logs and traffic in and out of the network and alerts analysts of suspicious traffic that might represent malware connecting to command and control servers or transferring data out of the network.
Goode Intelligence has identified five key trends that it says are driving the adoption of biometrics for financial services. In their latest Biometrics for Financial Services report, they list these trends:
- biometrics replacing PINs for ATM security
- contactless mobile payments driven by mobile payment solutions
- rising Card-Not-Present (CNP) fraud tackled by mobile biometric authentication
- biometric wearable payments
- multi-modal biometric authentication becoming da-facto for mobile banking apps
Addressing Insider Threats, Cyber Attacks & Data Security
IMM - http://www.immonline.com
Read John A. Levy's comments:
Info@Risk - http://www.infoatrisk.com
Read David Trepp's comments:
SMS proponents proclaim that texting is an excellent complement to emailing in order to communicate instantly and personally. They tout statistics that show that text messages feature an open rate of 97% and an average opening in less than 3 minutes after reception. AcySMS Connect allows Joomla! (a popular website content management system) users to send SMS directly from their website backend while using the SMS sending service of their choice. The software offers the possibility to plan SMS campaigns, manage mailing lists, segment your databases or even analyze the results of your campaigns.
Notarize, which claims that it is the first digital remote notarization solution, has launched its mobile offering. Notarize`s 24-hour on-demand solution enables consumers in all 50 states to have documents notarized remotely, via mobile phone. Users must verify their identity with a government issued photo ID, which Notarize authenticates using computer imaging technology and software-based forensic analysis. The client is then connected with a commissioned Virginia Electronic Notary Public agent via live video call. The Notarize agent signs, stamps, and completes the electronic notarization process using digital tools. Once complete, the client may print and deliver the notarized document or send it electronically to their institution. The company charges $25 per each notarization.
D+H announced that it has successfully integrated blockchain distributed ledger technology into its global payments services hub. D+H is now in active discussions with FIs to implement this payment solution with integrated blockchain capabilities. The blockchain solution was built as an extension of D+H`s Global PAYplus solution, which helps financial institutions manage all payment types – including high value, mass and immediate payments – and all currencies in one system, domestically and across national borders.
Talari announced the availability of Talari Adaptive Private Networking (APN) 5.0 operating software and Talari Aware 2.0 centralized management and orchestration system. The company says that these two major releases extend their SD-WAN solution by delivering enhanced routing capabilities, improved integration with IPsec, cloud-based centralized SD-WAN management, and cost effective redundancy. They say their Software Defined WAN (SD-WAN) solutions simplify SD-WAN branch integration, allowing customers to expand their adoption of emerging SD-WAN and cloud technologies at their own pace without requiring a rip-and-replace deployment model.
ZENEDGE announced the availability of ZENEDGE Express which they claim is the first behavior-based, integrated Web Application Firewall (WAF) and Distributed Denial of Service (DDoS) mitigation service for small-to-medium businesses. They say that their Web Application Firewall with pre-configured rules for OWASP Top 10, including SQL injections, XSS and more. Additional features include:
XiaoIce, which is a stripped-down version of Microsoft`s virtual assistant Cortana, is designed to interact in a human-like, “chatty” way with people. Some observers see advances in artificial intelligence (AI) are progressing so far that they are able to intelligently respond to human requests in a way that truly mimics how humans respond. XiaoIce and other similar applications may soon have a role to play in contact centers, as well as in personal financial management software.