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 Your source for the latest technology information of interest to credit unions across America.

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June 6, 2016

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



General News  

* Sharetec Signs 1st Mississippi FCU
* NYMBUS Acquires R. C. Olmstead
* Polish & Slavic Expands Relationship with PSCU
* Silver6 Garners Award at Finovate

Sharetec System, one of the fastest growing core systems, announced that 1st Mississippi FCU in Meridian, MS has selected Sharetec as their new core system. Founded in 1972, 1st MS has increased through the years to over 9,000 members and over 50M in total assets.

NYMBUS, a provider of a full-stack, API driven core processing platform, announced the acquisition of R. C. Olmstead (RCO), developer of core data processing systems. Along with the acquisition will come RCO's customer base of 46 credit unions headquartered throughout the Midwest.

Polish & Slavic FCU is bringing it credit card business to PSCU. The $1.7-billion credit union has converted more than 23,000 credit card accounts to PSCU as it seeks to revamp and expand its credit card program. The relationship between the organizations dates to 2004 when the New Jersey-based credit union and CUSO entered a bill payment agreement.

Silver6, an Urbandale Iowa marketing technology company, was among the six companies selected as Best of Show, out of 72 companies demoing at FinovateSpring 2016. This award recognized Silver6 for developing a unique video personalization platform which enables credit unions to deliver personalized member account information in an engaging video format.




Hardware News

Samsung is now producing the world's smallest 512GB SSD (solid state drive) - it is smaller than a stamp. The PM971-NVMe fits up to 512GB of NAND flash, a controller, and RAM into a single BGA chip. Even though is it is small and weighs less than a gram, Samsung says the PM971-NVMe will hit 1.5GBps read speeds and 800MBps write speeds. The drive comes in 512GB, 256GB and 128GB capacities.

Many organizations continue to rely on spreadsheets to manage their hardware. However, properly managing PCs, laptops, networking equipment, servers and peripherals is much easier with a dedicated program. Most of the leading asset management tools on the market have the ability to manage software and hardware assets. According to Capterra, a service that rates business software, the top five vendors of IT asset management software are:

- SolarWinds

- ManageEngine

- Oracle

- CA Technologies

- IBM Tivoli 


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


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Software Updates

Google's Data Studio lets you gather information from a variety of sources and then compose it into reports that can include graphs, charts, heat maps, etc. The free data visualization tool includes a wide variety of data connectors to let users visualize data from Google AdWords, Google Sheets, and the company plans to launch a connector for SQL databases later this year. The product is meant to compete against Microsoft's Power BI data visualization suite, and other tools.

Red Hat, a developer of open source software products since 1993, is planning on creating a digital banking platform supported by Red Hat cloud products, including OpenStack, OpenShift and CloudForms. The North Carolina-based company is working with Spanish bank BBVA on the project and it will cover three key areas:

  • Infrastructure as a service: they have designed an automated, multi-tenant service cloud based on the Red Hat OpenStack platform
  • Platform as a service: BBVA's corporate PaaS architecture will be based on Red Hat's OpenShift container application platform
  • Cloud management platform: RedHat CloudForms is designed to operate in a multi-cloud environment


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A new report from retail banking research and consulting firm RBR shows that approximately 1.2 million (40 percent) of the world's 2.9 million FI-grade ATMs were running multivendor software applications. However they predict that by 2020, this number will grow to 2 million as ATM-deploying FIs invest in software to support omnichannel and branch transformation initiatives. NCR is the largest provider (29%) of application software overall and for multivendor solutions, followed by Wincor Nixdorf (17%) and Diebold (12%). At the platform level, the largest independent software provider is KAL ATM Software.

Kaspersky Embedded Systems Security is designed to protect ATMs in that it can support minimum systems requirements of only 256 megabytes of memory and 50 megabytes of disk space, which is common for ATMs. This includes all Microsoft Windows operating systems starting from Windows XP as well as Windows XP Embedded, Windows Embedded 8.0 Standard and Windows 10 IoT. The new solution also brings centralized reporting and management, a “Default Deny” mode that blocks attempts to run any unauthorized executable code or drivers on ATMs, and it is also integrated with the cloud-based Kaspersky Security Network.


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:  



and their client is:

Meritrust 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

Some observers believe that in the near future everyone with a mobile device will be carrying a live, two-way video branch with them. Of course, issues such as privacy, security, compliance, cost, member preparedness and technical delivery issues on a wide array of devices provide stumbling blocks. India-based IndusInd Bank is an early bleeding edge adopter of mobile video banking services having made it available to consumers via desktop and mobile devices since 2014. Their contact center handles over 1,000 video calls per day with more than 65% repeat usage.

Forty six percent of American consumers have made a mobile financial transaction, making online and point-of-sale purchases, paying bills, or sending money from their smartphones, according to research from Pew Charitable Trusts. Their report shows that millennials and Gen Xers account for 55 percent of the U.S. adult population and 72 percent of mobile payments users. Their report shows that mobile bankers prefer mobile banking for receiving alerts, electronic receipts, rewards, discounts, and help with budgeting. However, making purchases through mobile web browsers or downloaded apps is their most common activity.


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

A zero-day (also known as zero-hour or 0-day) vulnerability refers to a hole in software that is unknown to the vendor that criminals can exploit to adversely affect computer programs, data, additional computers or a network. Many people fear the zero-day exploit, however according to the most recent Microsoft Security Intelligence Report, around 6,300 unique vulnerabilities appeared in 2015 and less than 1 percent of them were classified as zero-days. The fact of the matter is that most successful exploits are old and can be prevented by a decent patching strategy. In fact, a great deal of research shows that most successful exploits are those that weren't patched in the first year or at all.

Black Duck Software's website scans uploaded software for unpatched known vulnerabilities within open source components of the code so they can be fixed. Security Checker is a complimentary cloud-based service that allows you to scan code archives (e.g. .jar, .gz, .tar, .zip, etc.) and Docker images to identify open source components and vulnerabilities that are embedded in them. The website looks for Open Source components embedded in the file you upload. It will then report the top-level "known vulnerabilities" associated with those open source components. Known vulnerabilities are security flaws that have been previously reported and registered with the National Vulnerability Database and other sources.


Security Section Sponsored by
StrongAuth, Inc.



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Leaders Roundtable


Addressing Insider Threats, Cyber Attacks & Data Security


Accellion -
Read Yorgen H. Edholm's comments:


Allied Solutions -
Read Ann D. Davidson's comments:


Alloya Corporate FCU -
Read Teresa Brent's comments:



Cummins Allison -
Read Dean Theodore's comments:



Easy Solutions -
Read Daniel Ingevaldson's comments:


EnableSoft -
Read Richard Milam's comments:


Horsetail Technologies -
Read Mark Berman's comments:


IMM -  
Read John A. Levy's comments:


Info@Risk -
Read David Trepp's comments: email address is being protected from spambots. You need JavaScript enabled to view it.


InfoSight -
Read Brian Smith's comments:


KnowBe4 -
Read Stu Sjouwerman's comments:


Millennial Vision -
Read Scott Cowan's comments:


Nintex -
Read Mike Fitzmaurice's comments:


Onbase by Hyland Software -
Read Steve Comer's comments:


Pwnie Express -
Read Paul Paget's comments:


Securonix -
Read Chris Inglis' comments:


SentinelOne -
Read Scott Gainey's comments:


StrongAuth, Inc. -
Read Arshad Noor's comments:


TruShield -
Read Paul Caiazzo's comments:


Venminder -
Read Aaron Kirkpatrick's comments:


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Technology and Marketing

A new TransUnion study found that consumers applying for a new mortgage are on average two to three times more likely to open a new auto loan or credit card account over the next 12 months. In fact, many of these consumers open these accounts as soon as one month after their existing mortgage payoff. The study found that prime or better mortgage applicants on average are over 50% as likely to open a new credit card over the next 12 months following a mortgage inquiry compared to the overall population. These same consumers can be up to three times as likely to open a new auto loan in that same 12 month period. One of the report`s authors noted that "this information is particularly valuable for lenders who are seeking credit-active consumers with higher demand for new credit cards and auto loans; this population is much more likely to respond to new offers, making them an attractive segment that lenders can now identify.”


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Online Banking/E-Commerce/Website Design

PayPal has grown so large that they now hold more than $13 billion in consumer accounts which tallies more than all but 20 U.S. banks. In a recent Wall Street Journal article entitled "PayPal Isn't a Bank, But It May Be the New Face of Banking," a PayPal spokesperson said that "when we deliver value to our customers, we bring volume to banks."

A 529 plan is a tax advantaged savings plan designed to encourage saving for future college costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code. Some card issuers are now offering cash back rewards that can be deposited directly into a 529 college savings account. The marketing pitch is that these cards offer reward dollars will help your college savings automatically grow without you having to think about it.

Clever Kash is an innovative moneybox in the shape of a toy elephant. ASB in New Zealand is developing this IOT (Internet of Things) device to help make savings fun for children - it is designed to help parents teach their children about money and saving. The device features an interactive screen and a companion app.


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Internet Access

Unite is Juniper Networks' software that is designed to help organizations turn their own infrastructure into private clouds and link those to public clouds in a hybrid architecture. It is built around Junos Fusion Enterprise software, which collapses multiple network layers into one for simpler management. Their new 24-port EX2300 and the 12-port EX2300-C switches are built to work with Unite. Both have Gigabit Ethernet ports for connecting to client devices, with 10-Gigabit Ethernet uplinks to the rest of the network. The EX2300 starts at $1,600 and the EX3400 at $3,300.

The Tor Browser, previously known as the Tor Browser Bundle, can be run from removable media and is available for Windows, Mac OS X, and GNU/Linux. A new version 6.0 just came out that enhances its ability to protect your anonymity and privacy. The Tor Browser automatically starts Tor background processes and routes traffic through the Tor network. Upon termination of a session the browser deletes privacy-sensitive data such as HTTP cookies and the browsing history.


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Call Centers

Some contact center training experts claim that 10 - 20 minute training sessions are more effective than 30 - 60 minute sessions. They call this “chunking” and say that it avoids cognitive overload. They propose that students should stop every 10 - 20 minutes and apply their knowledge or discuss it among themselves. This can be done in as little as one to two minute sessions, followed by another chunk of instruction time from the instructor, or 10 minutes or so of hands-on activities using the information just presented.