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July 25, 2016

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



General News  

* Federation Partners with EPL on CU Impact
* PSCU Launches QuickAssist
* IMM Enhances eLoan Services
* First Lenders Data Signs United Heritage CU
* Sift Security Unveils Next-Gen Cybersecurity Platform

The National Federation of Community Development Credit Unions and EPL announced the finalization of an agreement on the development of CU Impact, a shared banking platform specifically designed to help credit unions deliver affordable financial services to low income consumers in underserved communities. The two organizations say that the CU Impact initiative will combine the Federation's expertise and experience in working with unbanked and underbanked consumers with EPL's i-POWER core system to create the first core platform that will support, deliver and measure the impact of credit union products and services that help build the financial security of low wealth members.

PSCU has launched a new web-based solution to help front line credit union member service staff more rapidly and efficiently resolve their members` requests for service on accounts that reside on PSCU-hosted systems. The CUSO`s solution, known as QuickAssist, enables rapid access to PSCU-hosted member account data and functionality.

IMM, a provider of eTransaction automation solutions for credit unions, has introduced enhancements to its suite of hosted eLoan services. IMM`s easyReset and easyLead have been updated and can be used by credit unions to deploy a self-service online experience to help engage qualified borrowers, allowing them to make personal financial choices in the privacy and comfort of their home or from any Internet connection.

First Lenders Data, Inc. (FirstClose) announced that United Heritage Credit Union has chosen The FirstClose Report to support all of its Home Equity Lines of Credit (HELOCs) and Home Equity Loans. The FirstClose Report provides credit union lending operations with instantaneous title search, flood certification, valuation and property information with $500,000 of lien protection insurance.

Sift Security announced a next-generation cybersecurity threat hunting and incident response platform. The new platform is purpose built to take advantage of the power of relational graph data structures, scalable search and leading-edge anomaly detection. The Silicon Valley-based company says that they have assembled a team of experts in big data, graph theory and machine learning to build their solution.




Hardware News

There is a new generation of mini-PCs on the market that can be placed in a drawer, on the underside of a desk, or on the back of a display. As a result, they are perfect for places like call centers or teller lines. They are inexpensive, in part because you must supply the keyboard, mouse, and display, and some like the InFocus Kangaroo Pro even offer enterprise-level security in the form of a fingerprint scanner and a Trusted Platform Module (TPM). Some other models to consider include:

- Asus VivoMini VC65R

- ECS Liva X2

- Gigabyte Brix

Seagate announced a new line of hard drives with up to 10TB of capacity for desktops computers, network-attached storage (NAS) and surveillance systems. Dubbed the Guardian Series, the high-capacity drives represent a 2TB increase over the capacity of previous Seagate hard drives in the consumer and small business category. The Guardian series consists of the BarraCuda Pro desktop drive, the Seagate IronWolf for NAS applications and the Seagate SkyHawk for video surveillance systems. 


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


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Software Updates

Actiance has expanded Actiance Socialite to help credit unions manager their Instagram accounts in a compliant way. The software can monitor account activity, archive posts, and generate analytics from the post image engagement and comments. The company notes that Instagram is classified as advertisements and comments are considered business records, therefore a credit union`s Instagram posts are subject to regulatory scrutiny.

Microsoft has introduced Microsoft Stream which is a cloud-based service that makes it easier to share, tag, and discover video content in the workplace. It is designed to help organizations better collaborate around video by offering a YouTube-like platform that is built for businesses. For example, Microsoft Stream could be used to archive and search training videos, or to keep track of recorded video interviews or video calls.

Microsoft announced that Windows 10 is now running on more than 350 million devices, although most of that headcount comprises consumer devices as many businesses stay on Windows 7 or 8. However, Windows 10 includes built-in containerization and other security features that appeal to some organizations. Plus as part of a so-called anniversary update next month, the software giant plans to add new security capabilities and a feature called Windows Ink that lets you annotate documents with a digital stylus.


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Source Technologies announced enhancements to its Personal Teller Machine, which now includes proximity sensing and the ability to pre-stage transactions. The upgrade utilizes mobile technology to pre-stage self-service transactions, while the kiosk also now uses proximity sensors to detect when a member approaches to speed up transaction time and provides additional safety on the back-end as the member departs following completion of the transaction.

Many industry observers are convinced that ATM skimming will become a bigger concern for ATM deployers that have not upgraded to chip card capabilities. However there is no doubt that scam artists will continue their work on EMV ATMs – they can jam EMV-enabled ATMs so consumers cannot collect the money they want to withdraw but the criminals can. Card entrapment is another concern, in which the criminals' device traps a consumer's card inside the machine, and the PIN is captured so the criminals can complete withdrawals.


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:  

Next Level Group


and their clients are:

Hawaii First & Hawaiian Telephone CUs

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

Acuity Market Intelligence projects that 750 million biometric smartphones are in use today, representing more than 30% of the global smartphone installed base. Acuity expects this market to grow to 100% of the 2 billion smartphones shipped annually by 2018 with 100% installed base adoption by 2020. Plus, more than 800 million biometrically enabled transactions will be competed annually on mobile devices by 2020 generating nearly $7 billion in annual biometric authentication revenue.

New research from Pew`s consumer banking project titled, “What Do Consumers Without Bank Accounts Think About Mobile Payments?” found that about 39% of unbanked smartphone owners have ever made a purchase, paid bills, or sent or received funds using mobile payments technology compared with 64% of banked smartphone owners. The report notes that about 15% of American consumers are unbanked and rely primarily on cash and checks instead of mobile payments. Unbanked consumers are less likely than those with accounts to say that they will make a mobile payment in the next year and are less interested in using a smartphone to receive rewards and discounts.


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

Social security numbers, which were created in 1935, are valuable to scam artists because they can be used to open accounts, take out loans, establish fake identities, etc. A startup named Civic aims to save consumers and businesses money and worry by alerting them when their SSN is being used, and they provide a $1 million free policy for identity theft. The company determines when an SSN has been used by soft pulls from credit bureaus, and a proprietary system with multiple inputs. Going forward, the company plans to implement features for guardians of children and the elderly to set watches on their SSNs.

Data breach response insurance firm Beazley says that community FIs with less than $35 million accounted for 81% of hacking and malware breaches at financial institutions in 2016, a 54% increase over industry incidents in 2015. Not surprisingly, lucrative ransomware attacks also continue to increase, with twice as many attacks in the first six months of 2016. In the July edition of their Beazley Breach Insights report, the firm notes that "smaller banks and credit unions that typically have fewer defenses against these breaches are becoming bigger targets and need to be prepared.”


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

Many email marketers recommend using a personal name as the send-from email address and avoid using info@, webmaster@, yourorganization@, etc. addresses. Some claim that their email open rate increased by 35% when they used a personal name as the send-from email address, and they also enjoy a rise in click-through rates. Subject lines are also incredibly important - they must be very concise and crystal clear and no more than 50 characters.


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Online Banking/E-Commerce/Website Design

TouchCommerce, a provider of consumer engagement tools such as live chat, customer analytics, personalization and FAQs, has launched a virtual assistant dubbed TouchAssist. The company, which was recently purchased by Nuance, specializes in omnichannel consumer engagement, helping organizations answer inquiries in whatever form users prefer. In action, the service prompts visitors with: "Hello, I`m the TouchCommerce Virtual Assistant ready to answer your questions." The technology is similar to Apple's Siri which was developed by Nuance. Visitors can opt out of the conversation and converse with a human if they so desire, and transcripts are kept of all conversations for a clear audit trail.

Visa announced that there are more than 326 million Visa chip cards in issue in the United States, with 165.3 million debit cards and 161.5 million credit cards. With such a large number in circulation that means that America is the largest global chip market. More than 100,000 merchant locations became chip-enabled in June, bringing the total to 1.3 million. More than 75% of them are small and mid-size businesses.


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Internet Access

AT&T announced the rollout of a standard x86 server that can take the place of four specialized network devices. The new service, called AT&T Network Functions on Demand, deploys a standard x86 server on premise. This so-called uCPE (Universal Customer Premises Equipment) can perform:

- Juniper Networks virtual routing

- Cisco Systems virtual routing

- Fortinet virtual security

- Riverbed virtual WAN optimization

Verizon announced Virtual Network Services (VNS) that initially includes security, WAN optimization and SD-WAN services, and offers clients multiple delivery and pricing models as well as managed software from Cisco and Juniper. Users can utilize public, private or wireless networks from Verizon or other service providers and any combination of same. Verizon notes that their platform offers improved management, bandwidth control and network efficiency. VNS is available via three models:

- customer premises equipment (CPE)

- cloud-based virtual CPE services

- hybrid


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Call Centers

Call centers that use Plantronics headsets may benefit from using Plantronics Manager Pro which is a web-based service that gives IT Managers tools to configure settings and update audio device software and firmware for end-users in the contact center and across the organization in cubes and offices. The package allows IT Departments to perform:

Device Inventory - View total count and status for all headset audio devices

Softphone Status - View status of all softphones being used with Plantronics products

Conflicts Detected - Identify configurations of installed softphone and Plantronics Hub versions with known compatibility conflicts

Version Status - Verify firmware and software is current for all your Plantronics hardware and software