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June 27, 2016

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



General News  

* WSSC FCU Selects Sharetec
* Vantage Credit Union Switches to Episys
* Fiserv Launches Real-Time Alerts Platform
* CU*Answers Deploys Advanced Security for Online Banking APIs

Sharetec System, one of the fastest growing core systems, announced that WSSC FCU in Laurel, MD, has selected Sharetec as their new core system. WSSC FCU, which has over 3,100 members and nearly $25 million in total assets, is also installing Mobile Products, Online Membership Products, Shared Branching and Remote eSignatures.

Symitar, a division of Jack Henry & Associates, announced that Vantage Credit Union successfully completed a conversion to their Episys core platform. The credit union also added new tools such as eBranch, Internet loan applications, mobile app, and automated phone access.

Fiserv has launched a platform dubbed Notifi for the delivery of real-time alerts. The platform consolidates information from across a credit union`s systems into a central hub from which alerts are distributed. Members can choose the types of alerts they receive, how and when they are received, and can take action directly from the alerts.

CU*Answers announced it has deployed advanced network security systems designed to protect upcoming application programming interfaces (APIs) for its Internet banking product, It`s Me 247. The new security systems will help provide additional protection against the effects of denial of service attacks, malware, and malicious code.




Hardware News

Reolink offers two affordable versions of their standalone network video recorder (NVR): the 8-channel RLN8-410 and the 16-channel RLN16-410. The back panel includes both an HDMI and a VGA port, an audio out, a USB port (for connecting an external drive), and a LAN port. Naturally, there are PoE (Power-over-Ethernet) ports for connecting Reolink surveillance cameras. POE reduces cable clutter because you will only have to run a single network cable from each camera back to the NVR. As far as motion detection goes, you have three options: sound an alarm, email an alert, and trigger a video recording, or you can simply record constantly to the included 2TB hard drive.

Dell says that their Wyse 3030 LT thin client offers organizations a highly secure solution with broad connectivity that can be easily scaled for deployments of all sizes. They state that VDI appliances simplify Virtual Desktop Infrastructure (VDI) implementations because they are easy to install, modular and deploy quickly. Thin and Zero Clients start at $299, while All-in-One Thin Clients start at $549. 


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


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Software Updates

Microsoft's Local Administrator Password Solution (LAPS) uses Group Policy client-side extensions to generate a random password on each individual domain member, and then it sets that random password for the local administrator account. It then puts that randomized password into a confidential, secure attribute inside the computer's Active Directory computer account. There is no additional charge for using the Local Administrator Password Solution (it comes with Windows licenses) and it plugs right into Active Directory and Group Policy.

Spiceworks Network Monitor has been updated and now offers historical data to help IT professionals better understand their network, find trends, and justify replacing old devices. Other new features also include scheduled maintenance windows and expandable online watchlists. The company says that Network Monitor is simple to install and easy to set up - plus it is freeware.


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The National ATM Council, which represents independent ATM operators, concludes that ATM skimming is overhyped. They note that retail ATMs often have an advantage of constant oversight of store employees, and that unattended outdoor walk and drive-up ATMs involve higher transaction volumes, which also make them more attractive targets. Their survey found that 93% of retail ATMs have never experienced a skimming incident.

Axis is rolling out new security cameras that are well suited for ATMs. The Axis P1254 Network Camera is a small fingertip-sized camera that offers a 102° horizontal field of view, while the Axis P1264 Network Camera features a single pinhole 57° horizontal field of view lens and is ideal for installation in limited spaces such ATM vestibules. Both camera models deliver HDTV 720p video and are powered via Ethernet.


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:  

CDC Software


and their client is:

North Shore 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

The third annual “Trends in Customer Mobility” report concludes that Americans are increasingly addicted to mobile devices. The report, which was authored by Bank of America which has 20 million active mobile users, interviewed over one thousand smartphone-owning consumers with accounts at various FIs. They found this level of dependency: "On an average day, millennials (39%) interact with their smartphone more than anything or anyone else. Many (29%) Americans mimic this behavior, and are twice as likely to interact with their mobile over their children (15%).”

According to research from Future Market Insights, mobile payment transaction volume will grow by 42% to reach $26.9m in 2016, up from $18.9m in 2015. Payments made through NFC, touted by some observers as the technology of the future, will witness the highest year-over-year growth rate, increasing at over 59% in 2016. Their research is backed up by a recent Chase survey that revealed that 46 percent of respondents plan to make payments more often using mobile phones during the next five years.


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

Cloud Technology Partners points out that on-premises systems - not cloud-based workloads - have been the favorite target of hackers in the last several years because cloud platforms usually incorporate the newest and most robust security technologies. They argue that you will receive better security resources from your cloud provider than you can muster internally.

According to the Consumer Financial Protection Bureau (CFPB), 17% of senior citizens have reported they have been victims of financial abuse, with the average senior losing about $120,000. Some signs of elder financial abuse include:

- suddenly insufficient funds or overdraft fees

- activity in previously inactive accounts

- change of address on an account

- opening a new joint checking account or adding a joint owner to an existing account

- an increase in total monthly cash withdrawals compared with historical patterns

- electronic bill payments to new vendors

In response to these trends, some FIs send reps to visit retirement centers, nursing homes and civic clubs to give presentations on how to avoid being a victim of financial abuse, as well as provide online resources.

Preempt says that they protect organizations from security breaches and malicious insiders with a patented Behavioral Firewall that couples User Behavior Analysis and Adaptive Response. Their User and Entity Behavior Analytics (UEBA) solution monitors and learns the behavior of every user, group and device on your network including when/where they log in, their role, their system privileges, strength of passwords, and more. When abnormal behavior is detected, the Preempt Behavioral Firewall automatically applies an action such as allow, block, notify, re-authenticate or challenge with multi-factor authentication.


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

Choosing the best next best product has never been an easy task. It requires bringing in member and account-level data from the core system and blending in credit card and loan data as well. Plus it requires past and trending data as well as aggregate member data (behavior of other similar members). A well-designed data warehouse and CRM can then deliver the next best product in real-time based on a predictive model that anticipates their needs. Business intelligence programs, along with statistical modeling, such as cluster analysis, can be critical tools that aid in the selection of the most appropriate product as well. One combination of software packages that can help is Adobe Analytics, Adobe Target, and Adobe Campaign, a suite of real-time marketing and reporting tools.


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Online Banking/E-Commerce/Website Design

Celent has released a new report titled "Blockchain: Beware the Hype." This report discusses blockchain`s impact on payments, reviews the emerging ecosystem around shared ledgers, and warns financial institutions against succumbing to hype. The research firm says that in the short term, shared ledgers will help improve cross-border payments and payment back office functions. The report concludes that "rather than blindly jumping on the blockchain bandwagon, we encourage our clients to think carefully about suitability of technology for the business problem at hand. The industry's most thoughtful practitioners are deconstructing blockchain technology to its fundamental components and are looking for ways to assemble the most attractive features in a way that makes sense for financial services."

93 million credit card holders are still receiving financial statements through the mail, according to a new CreditCards.com report. The most popular reason to receive financial statements in the mail is for record keeping, and for credit card statements they serve as a reminder that the bill has to be paid. Their study found that 69% of millennials said they would stop receiving monthly financial statements in the mail if their account was credited $50, compared to 52% of all Americans. Yet somewhat surprisingly and conflictingly, nearly 50% said that they would not mind paying for the paper statements, if required.

ZayZoon has developed an app that lets employees borrow money and then have it automatically paid back through their credit union account on payday. The Canadian startup integrates with payroll firms to gain access to companies and their employees. They argue that their payroll integration means that they face almost no chance of default and can therefore charge just $3 on a $100 loan. The app determines the loan limit by analyzing back months of the applicants` pay.


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Internet Access

A startup called Apstra has developed their Apstra Operating System (AOS) which takes network policies based on an organization`s intent and automatically translates them into settings on a wide range of network devices. The company claims to be completely agnostic in that they will work with devices from Cisco Systems, Hewlett Packard Enterprise, Juniper Networks, Cumulus Networks, the Open Compute Project and others.

According to a report from the European Union Agency for Network and Information Security, the two biggest threats facing Internet users are:

1) Web-based attacks such as malicious URLs, browser exploits, and compromised websites

2) Web application attacks such as SQL injection and cross-site scripting

Some security experts contend that the three best browsers are Chrome, Firefox and Opera, but stress that any browser, its add-ons, and the underlying operating system must be vigilantly patched and kept up to date to minimize issues and maximize protection.


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Call Centers

Knowledgebase proponents argue that investments made in your knowledgebase will deliver a strong ROI in terms of reduced inbound calls, improved agent morale and enhanced member satisfaction. Experienced knowledgebase admins keep an eye on system search reports that can reveal what is missing (what members are searching for and are unable to find). Additionally, reports can highlight the most popular topics which will help you refine and add to those popular top interest topics. Finally make sure that your knowledgebase articles are clear, concise, well written and easy to read - some experts recommend that they be written at the junior high level.