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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.

June 13, 2016

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

BB

 

General News  

* American Lake CU Selects ESP
* IMM Enhances eTeller Solutions
* Mountain Credit Union Chooses Symitar
* Me/CU Moves to Fiserv

American Lake Credit Union in Tacoma, WA has selected ESP`s (Enhanced Software Products, Inc.) core processing solution, FORZA3 for their new core system. The 6,500 member credit union will also be using ESP's other modules including Member Imaging, Paperless Receipts, Digital Documents, Home Banking, Mobile Banking and more.

IMM, a provider of eTransaction automation solutions for credit unions, has enhanced its eTeller automation solutions with additional tablet device features and email receipt functionality. The software allows credit unions to eliminate paper use for teller processes, as completed transaction receipts can also be indexed and stored in the credit union`s imaging system for permanent archival.

Jack Henry & Associates' Symitar division announced that Mountain Credit Union has selected the Symitar Episys core system for in-house processing. Waynesville, NC-based Mountain Credit Union serves more than 22,000 members in the western region of the state.

Fiserv, a leading global provider of financial services technology solutions, announced that Me/CU, based in Oklahoma City, OK, has selected their Portico account processing platform. The software-as-a-service (SaaS) suite selected by Me/CU includes Portico for core account processing, Virtual Branch for online banking, Mobiliti for mobile banking, Mobile Source Capture for mobile deposits, CheckFree RXP for electronic payments, Loancierge for lending automation, Wisdom for accounting and call report functionality, and solutions for card processing and production.

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Hardware News

As PC sales continue to decline, Intel is redirecting more resources to develop enhanced server and data center products. The company noted that they are looking to drive improvements in server, memory, networking and storage components at the rack level. The chip giant is pushing two big concepts: Rack Scale architecture, which is meant to bring configuration flexibility and power efficiency to server installations; and OmniPath fabric which is a superfast interconnect technology. With Rack Scale, more memory, storage and processing resources can be installed at the rack level than on individual servers patched together, and shared resources like cooling can help cut data center costs.

All-in-one PCs are often powered by laptop components but some manufacturers are coming out with AIO machines that are constructed with more powerful, standard PC parts. Case in point: The Digital Storm Aura is a powerful box that features Aura`s 34-inch ultrawide display powered by the GeForce GTX 1080 and runs on a 10-core Intel chip. Other powerful space-saving AIO PCs include Origin`s Omni and Maingear`s Alpha 34. 

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

 

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Software Updates

Microsoft announced that SQL Server 2016 is now generally available and that anyone can download a no cost 180 day trial of Microsoft's latest version of its enterprise database application. The SQL application requires 6GB of hard drive space and at least 1GB of RAM memory - more of each is highly recommended. It is important to note that SQL Server 2016 does not support x86 CPUs. You have to have an x64 processor with a recommended clock speed of at least 2GHz.

Priority Matrix is a project management tool that bills itself as easier to use than Microsoft Project. They say that its streamlined interface reduces emails and meetings, but it also includes integration into Outlook. The software provides the ability to switch views between Gantts, calendar, and priority levels, and delivers a range of productivity insights reports.

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ATMs/Kiosks

Paragon Application Systems introduced VirtualATM which is a simulator designed to replace physical ATM hardware in the test environment. With VirtualATM, the company says that their customers can conduct automated testing of the entire software stack. During the testing process, VirtualATM can continually submit thousands of transactions types, 24-hours-a-day. The software supports the testing of all transactions and error conditions, including both magnetic stripe and EMV chip cards.

BECU, which recently won an omnichannel banking award from Celent, has over 200 ATMs in production. The Washington state-based credit unions worked with INETCO's monitoring and analytics software to mine their ATM transaction data. Here are some of the statistics that show their progress:

- 88% predicted reduction in time required for cash utilization analysis

- 70% faster mean time to isolate performance issues

- 65% faster ATM placement and lease renewal analysis

- 58% faster geographical channel analysis

Maps Credit Union announced that they have reduced teller transaction times by installing Cummins Allison Money Machine 2 self-service coin counters. The Salem, Oregon-based credit union met its goal to shave two minutes off of each transaction that involves coin counting. The machines also automate the counting of donations for the annual penny drive held by a local school to benefit a children's hospital.

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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:  

LogRhythm

Logrhythm

 

and their client is:

Technology 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

Visa Digital Commerce App is an issuer-branded mobile commerce product that allows credit unions to offer their own mobile app to members with card management services. The app will enable issuers to offer such services as real-time account balance information, card controls, alerts that inform account holders about recent transactions or fraud concerns, and token services that aim to enhance the security of contactless payments on Near Field Communications-enabled Android smartphones.

As mobile apps become easier and more affordable to develop, many FIs are coming out with specialized apps beyond their core mobile banking app, e.g., US Bancorp has 43 iOS apps. The Online Banking Report has identified a list of potential dedicated apps for the following segments:

  • Youth
  • Small businesses
  • Mobile wallet/cards (credit/debit/prepaid)
  • Saving/budgeting/personal finance
  • Home buyers/mortgage/home equity
  • Car buying/auto loans
  • College financing/student loans
  • Retirement/wealth management/investing
  • Optional: Insurance, HSA, any other stand-alone business line

The new Bluetooth 5 standard is out and it promises to double the range and quadruple the speed of low-energy Bluetooth transmissions. Besides range and speed, Bluetooth SIG has also targeted mesh networking as a new capability to support full-home coverage, industrial automation, outdoor usage, and location-based services. Plus it has more capacity to advertise transmissions which helps with the deployment of beacons and location-based services.

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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

Some security experts contend that far too many organizations are failing to turn on little-used or newer capabilities to block email-targeted malware. They argue that techniques like Sender Protection Framework (SPF), Domain Keys Identified Mail (DKIM), and Domain-based Message Authentication Reporting and Conformance (DMARC) should be activated. These packages are designed to validate the identity of the sender, protecting against spoofed emails that appear to come from a friendly sender. They also recommend that you use these same technologies when sending your own email.

JAVELIN announced their annual Identity Protection Leader awards that recognize the leading direct-to-consumer identity protection providers. EZShield, IdentityForce, ID Watchdog, LifeLock, and TransUnion are the 2016 JAVELIN Identity Protection Leaders in three specific categories:

  • Prevention Category: EZShield, IdentityForce, and ID Watchdog lead in Prevention
  • Detection Category: EZShield, ID Watchdog, and LifeLock achieved top scores in Detection
  • Resolution Category: EZShield, ID Watchdog, and TransUnion earned the highest marks in Resolution, which has historically been the core focus of identity protection providers

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Security Section Sponsored by
StrongAuth, Inc.

StrongAuth

 

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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

 

 

Cummins Allison - http://www.cumminsallison.com
Read Dean Theodore's comments:
https://www.cunews.com/CumminsAllison.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

 

MVi
Nintex - http://www.nintex.com
Read Mike Fitzmaurice's comments:
https://www.cunews.com/Nintex.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

 

Securonix - http://www.securonix.com
Read Chris Inglis' comments:
https://www.cunews.com/Securonix.pdf

 

SentinelOne - http://www.sentinelone.com
Read Scott Gainey's comments:
https://www.cunews.com/SentinelOne.pdf

 

StrongAuth, Inc. - http://www.strongauth.com
Read Arshad Noor's comments:
https://www.cunews.com/StrongAuth.pdf

 

TruShield - http://www.trushieldinc.com
Read Paul Caiazzo's comments:
https://www.cunews.com/TruShield.pdf

 

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

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Technology and Marketing

Email marketing campaigns can be effective and are low cost, but it can be difficult to design quality email messages. The International ATM Marketing Forum of the ATM Industry Association has come out with a helpful list of "don'ts" to help you optimize your email design and delivery for maximum effectiveness. Don't:

… use Adobe Flash or video embeds

… use animated GIFs

… use top banners

… use HTML bullet points

… use PNGs

… use large images

… use large blocks of text

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Online Banking/E-Commerce/Website Design

Research from Javelin Strategy & Research and LexisNexis Risk Solutions shows that U.S. card issuers lose $10.9 billion annually to card fraud. Credit cards account for $7.6 billion, or 71 percent, of overall losses related to card fraud, followed by debit accounts at $2.7 billion and prepaid cards at $500 million. About 16 percent of losses are tied to counterfeit card fraud, while application fraud and account takeover each represent 20 percent of total fraud losses.

Smaller credit unions may want to take a look at Artificial Design Intelligence (ADI), an AI-powered tool that will automatically create a custom website. The company that created the tool, Wix, says that it can save time and money when building and maintaining a web presence. Users answer a series of questions to get the first draft of their website and can then customize or change any section.

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Internet Access

The Broadband Quality tool tests your Internet regularly so you know if you are getting the speeds you pay for. After you download and install the tool, you can easily schedule bandwidth tests overtime to better track issues related to consistency of Internet service received from your service provider. The tool tests ping time and upload/download bandwidth speeds and is available here: https://www.broadbandquality.net/

The Cooperative Bank of Epirus, the third largest of Greece`s nine cooperative (member-owned) banks, has rolled out Skype as a banking channel. Online banking customers receive a secure Skype ID from the bank when they book an appointment. After the caller is authenticated, the video calls are recorded for extra security purposes.

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Call Centers

Speech analytics solutions allow contact centers to operate more efficiently and save managers from having to wade through massive amounts of unstructured data. They are often used to automatically categorize caller interactions for best practices training. Any call can be selected via customized keywords so that the call be analyzed for potential problems, monitored to show trends, or benchmarked to see how marketing campaigns are unfolding.

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