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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.

January 25, 2016

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

BB

 

General News  

* Better Branches Technology Announces Branch Queue Display
* Sharetec Scores a 9.31 Customer Satisfaction Rate
* Acadia FCU Renews Synergent Agreement
* Allied Solutions Announces Major HQ Expansion
* NAFCU Services Chooses Daon as a Preferred Partner

Better Branches Technology, a provider of branch visitor queuing, appointment handling and workforce management software for credit unions, announced the release of their latest module: Branch Service Queue Display. This new module provides confirmation to waiting visitors that they are “checked in” and shows where they are in the service queue. It automatically supports a wide array of display types, resolutions, and screen sizes via responsive software design.

Sharetec System, one of the fastest growing core systems, recently announced their 2015 Customer Satisfaction Results. With the best score to date. Sharetec System received a 9.31 out of a possible 10 customer satisfaction rating for 2015.

Synergent announced that Acadia Federal Credit Union with 10,450 members and $136M in assets has recently signed a 10-year renewal agreement for the Episys Core Processing Solution with Synergent Technology Services. Acadia FCU has branches in Ashland, Fort Kent, Madawaska, St. Agatha, and St. Francis, Maine.

Allied Solutions, a leading provider and distributor of insurance, lending, and marketing products to credit unions across the country, announced a major expansion and relocation of its corporate headquarters. The $32.9 million project will include the construction of a new five story building in the rapidly developing Midtown area and a plan to more than double its size in Carmel, Indiana.

NAFCU Services Corporation has selected Daon, a leading provider of biometric authentication and identity assurance solutions, as their Preferred Partner for biometric authentication technology. Daon`s IdentityX Platform allows credit unions to integrate biometrics for their mobile authentication needs, such as face, fingerprint, and voice recognition into existing security schemas.

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Hardware News

The Jabra Speak 810 is a top of the line business speakerphone. The “pill” shaped unit (14.17” long by 7.09” wide by 1.56” tall) houses a speaker and six Jabra ZoomTalk microphones which “focus” on the speaker to enhance audio clarity. The Speak 810 supports Bluetooth, NFC, as well as USB and a 3.5 mm jack. The Jabra Speak 810 comes in two models; the Jabra Speak 810 UC which supports the Unified Communications (UC) protocol and the Jabra Speak 810 MS which is optimized for Skype for Business.

Available in three models, Hitachi Flash Storage A series includes a pair of controllers and up to 60 SSDs in a single 2U-high tray. The units have up to 384TB of effective capacity, 1 million IOPS, and can protect data with up to 1024 copy-on-write snapshots per logical volume. Full clones of logical volumes can also be created and copied for redundancy, plus QoS controls can be set for maximum IOPS and bandwidth consumption per logical volume to enable consistent application performance. 

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

 

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Software Updates

Intel Authenticate Technology on the 6th generation Intel Core vPro processor is a multifactor authentication solution that helps strengthen identity protection. With Intel Authenticate Technology, PIN, biometrics, keys, tokens and associated certificates are captured, encrypted, matched, and stored in the hardware. Admins can also set authentication factors based on location, e.g., if a worker is in the office on the network Bluetooth could work. If that worker is remote, biometrics and multiple factors may need to be used. Authenticate is supported by Microsoft Active Directory and other plug-ins.

A "Bank in a Box" is a complete virtualization solution developed by ING Direct which enables them to rapidly provision copies of its complete collection of banking systems. The company built Bank in a Box using technology from a collection of vendors including NetApp, Cisco, Microsoft and Dimension Data, and they estimate that the rapid provisioning avoids the cost of months of labor to create a new environment. Uses are varied: new project development; patch testing; employee training; building risk models; third party vendor testing; etc.

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ATMs/Kiosks

According to Triton, as many as half of the nation's estimated 400,000 ATMs might not be upgraded for EMV. Older ATMs that need not only EMV upgrades but also ADA upgrades, new PCI keypads, updated security modules, RAM, etc., are possible candidates for trading in against the purchase of upgrade kits or other parts. Some manufacturers also offer refurbishment programs and will accept miscellaneous parts with the goal of recycling as much as possible and keeping ATMs and parts out of the landfill.

On Track Innovations, a global provider of near field communication (NFC) and cashless payment solutions, has partnered with an undisclosed global provider of magnetic card readers used in financial self-service terminals. Together, they plan to work with providers of integrated self-service solutions to equip financial terminals with OTI`s Saturn 6700 UNO and new Saturn 8700 UNO NFC readers. OTI says that the ultra-compact UNO was designed to permit easy NFC enablement on existing unattended terminals such as ATMs and self-checkout kiosks and that they will facilitate easy acceptance of contactless cards and NFC-based mobile payments.

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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:  

TFactor

TFactor

and their client is:

LA Financial 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

Fiserv has published the results of a year-long study from more than 67,000 mobile banking users measuring the return on investment (ROI) of mobile banking services for financial institutions. The study revealed three insights:

- Increased Product Holdings — Average product holdings, including loans, CDs, credit cards, and mortgages, increased noticeably following adoption of mobile banking.

- Increased Transaction Frequency — In the three months after adopting mobile banking, users increased the number of debit and credit card transactions, ATM transactions and ACH transactions they made.

- Higher Average Revenue — Mobile banking users generate more revenue than nonusers due in part to the fact that they own more products and conduct more transactions.

There are more than 14,000 Apple Watch apps, with about 6% of them dedicated to finance. App Annie has categorized apps by these percentages:

Games – 12%

Utilities – 12%

Health & Fitness – 7%

Entertainment – 7%

Lifestyle – 6%

Productivity – 6%

Travel – 6%

Finance – 6%

All Others – 38%

Commonwealth Bank has developed a sophisticated mobile app that helps users in the home buying process. It uses augmented reality technology to let a user snap a picture of a house that they are interested in purchasing and the app will then display the price and details of the home if it is for sale. This Zillow-like service helps drive mortgage borrowers to the Australian bank.

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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

Virtru, which provides encryption for email and files, announced the general availability of its Hardware-Backed Encryption Key Management (HEKM) service. With the addition of Virtru HEKM, customers have an additional layer of encryption keys that they can directly control. The Virtru HEKM integrates with Microsoft Outlook, Gmail, Google Drive and other platforms.

The FIDO (Fast IDentity Online) Alliance, creators of the only cross-industry strong authentication technology standard, announced that more than 100 solutions are now FIDO Certified. The organization says that the growing collection of FIDO products and services enables individuals and organizations across enterprise, government, and financial services to eliminate weak username and password-based authentication and move to strong authentication for data security. The Alliance is working on expanding the adoption of FIDO authentication to all platforms and devices.

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Leaders Roundtable

Security:

Addressing Insider Threats, Cyber Attacks & Data Security

 

Accellion - http://www.accellion.com
Read Yorgen H. Edholm's comments:
https://www.cunews.com/Accellion.pdf

 

Allied Solutions - http://www.alliedsolutions.net
Read Ann D. Davidson's comments:
https://www.cunews.com/Allied.pdf

 

Alloya Corporate FCU - http://www.alloyacorp.org
Read Teresa Brent's comments:
https://www.cunews.com/Alloya.pdf

 

 

 

Easy Solutions - http://www.easysol.net
Read Daniel Ingevaldson's comments:
https://www.cunews.com/EasySolutions.pdf

 

EnableSoft - http://www.enablesoft.com
Read Richard Milam's comments:
https://www.cunews.com/EnableSoft.pdf

 

Horsetail Technologies - http://www.horsetailtech.com
Read Mark Berman's comments:
https://www.cunews.com/Horsetail.pdf

 

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

 

Info@Risk - http://www.infoatrisk.com
Read David Trepp's comments:
https://www.cunews.com/This email address is being protected from spambots. You need JavaScript enabled to view it.

 

InfoSight - http://www.infosightinc.com
Read Brian Smith's comments:
https://www.cunews.com/InfoSight.pdf

 

KnowBe4 - http://www.knowbe4.com
Read Stu Sjouwerman's comments:
https://www.cunews.com/KnowBe4.pdf

 

Millennial Vision - http://www.mviusa.com
Read Scott Cowan's comments:
https://www.cunews.com/MVi.pdf

 

Onbase by Hyland Software - http://www.onbase.com
Read Steve Comer's comments:
https://www.cunews.com/OnBase.pdf

 

Pwnie Express - http://www.pwnieexpress.com
Read Paul Paget's comments:
https://www.cunews.com/PwnieExpress.pdf

 

RallyPoint Solutions - http://www.rallypoint.us.com
Read Kris Zupan's comments:
https://www.cunews.com/RallyPoint.pdf

 

Venminder - http://www.venminder.com
Read Aaron Kirkpatrick's comments:
https://www.cunews.com/Venminder.pdf

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Technology and Marketing

Many credit union members simply have one product from the credit union and are not truly taking advantage of all the products and services that the credit union has to offer. Some marketing experts contend that the first 90 days are the most critical cross-selling time. Some credit unions use a three phase approach in the first 90 days:

- 5 to 10 emails

- a handful of phone calls

- a few direct mail pieces, often including a welcome letter

Some of the information presented can include: a general overview of the credit union, local branch information, a satisfaction survey, a personal welcome from the CEO, and specific product information tailored to that member.

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Online Banking/E-Commerce/Website Design

According to Mercator Advisory Group, about 55% of financial institutions in the U.S. offer debit rewards programs. The Durbin Amendment, which capped debit card interchange rates in 2011 for FIs with $10 billion or more in assets, caused many large FIs to abandon their debit rewards programs. Many credit unions that offer debit card rewards find that enrolled members use their debit cards quite a bit more per month than regular cardholders do. Another reason analyst say debit rewards programs are popular is that they strongly appeal to Millennials.

Security concerns regarding debit card use have skyrocketed with the constant increase in the number of high profile breaches. While 42% of all consumers were interested in mobile account controls for their debit cards, that spiked to 55% for the 18-to-34-year-old segment, according to the “Consumers and Debit in the U.S.: Heightened Security Concerns” report. Controls that allow cardholders to suspend transaction activity on their debit cards via mobile devices or online might get more consumers to activate and use their cards says the author of the report Karen Augustine of the Mercator Advisory Group.

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Online Banking Sponsored by
IMM

IMM

 

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Internet Access

Cloudmark has come out with a new anti-spear phishing solution that they claim is the first comprehensive technology approach to use behavioral analysis and context to defend against spear phishing. Cloudmark Trident works in tandem with existing security email gateways, and once implemented it needs about two weeks to learn the organization's email sending patterns and behaviors to develop a baseline. Cloudmark also uses domain and IP reputation information. Suspicious messages can be quarantined, further investigated or discarded.

Glue Networks, CloudGenix, Viptela, Talari and Versa are all startups that are developing software-defined WAN (SD-WAN) solutions. Cisco just invested in SD-WAN vendor VeloCloud which is predicting that 30% of enterprises will use SD-WAN products in all their branches by the end of 2019, up from less than 1% today. The Silicon Valley-based company claims to be the first to provide all three elements needed to achieve a Cloud-Delivered SD-WAN: a cloud network for enterprise-grade connection to cloud and enterprise applications; software-defined control and automation; and virtual services delivery. Branch offices can use a variety of transport connections, including MPLS, broadband and LTE provisioned through a thin device that steers packets to achieve optimal performance.

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Call Centers

PlayVox offers a comprehensive workforce management system for contact centers. The platform includes:

- coaching

- rewards

- recognition

- surveys

- analytics

- team communications

They offer Standard ($24 per month per user), Pro ($30 per month per user), and Enterprise ($35 per month per user) pricing levels.

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