CU news Logo

 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.

March 28, 2016

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

BB

 

General News  

* Flagship Community FCU Chooses Sharetec
* Vibrant CU Converts to Fiserv DNA
* D+H Partners with Motivity
* Firefly CU Selects CFM

Sharetec System, one of the fastest growing core systems, announced that Flagship Community Federal Credit Union in Port Huron, MI, has selected Sharetec as their new core. Flagship Community FCU was established in 1959, and serves the greater St. Clair county area.

Fiserv, a leading global provider of financial services technology solutions, announced that Vibrant Credit Union, based in Moline, IL, has completed its conversion to the DNA account processing platform and added several other solutions from Fiserv. Along with DNA, Vibrant implemented the CRM and Business Intelligence suite, Digital Document, tMagic teller capture, Credit Card Management and other card solutions, Prologue accounting suite, Vantage Risk & Budgeting Manager, and item processing.

DH Corporation, a leading provider of technology solutions to credit unions, announced that it has finalized integrations with its consumer lending platform, DecisionPro, and Motivity Solutions – now offering credit unions a lending-centric business intelligence and reporting solution. Motivity Solutions customized its mortgage business intelligence platform, Movation, specifically for credit unions using DecisionPro.

Firefly Credit Union (formerly US Federal Credit Union) in Burnsville, MN, announced that they have chosen CFM to integrate its cash recycling machines into their core platform. Previously, Firefly CU was dependent on a legacy cash handling solution that limited the credit union's hardware options and required extra steps to complete transactions.

~~~

 

 


Hardware News

The number of transistors being packed onto chips doubles roughly every two years - a concept known as Moore's Law. However, this trend is changing, as Intel has announced it will slow the rate at which it shrinks transistors for its chips. Intel has indicated it will follow a more drawn-out approach when releasing chips, at least for the near future due at least partially to the fact that it is increasing difficult to shrink transistors and circuits on a chip's surface.

QNAP'S TDS-16489U is a powerful "Double Server" that integrates an application server and storage server into one chassis. The TDS-16489U is powered by dual Intel Xeon E5 processors with RAM expandable to 1TB. The storage portion features Auto Tiering support, 12Gb/s SAS drives and 40GbE readiness. The server runs both QNAP Virtualization Station and Container Station, which allows for data from the guest OS and apps to be directly stored on the Double Server drives. Adding on the Double-Take Availability software offers comprehensive high-availability, disaster recovery and primary system failover. 

~~~

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

 

Back to Top


Software Updates

Categorizing social media content into categories such as favorable or unfavorable can be difficult. Some companies have stepped forward to help, e.g., Relevance Logic, CrowdFlower, and Sentiment Metrics. For example Barclays bank used Sentiment Metrics, to monitor the positive and negative sentiments associated with their launch of PingIt, a mobile banking P2P money transfer app. The software highlighted the fact that users did not like that the app would not permit them to transfer funds to recipients under the age of eighteen. These complaints highlighted a process improvement opportunity and they were able to make quickly changes to the app accordingly.

Microsoft just added a new option in Office 2016 that allows administrators to block macros - embedded automation scripts - from running in Word, Excel and PowerPoint documents that originate from the Internet. Now there is a group policy setting that administrators can use to disable macros only for Office files obtained from locations that Windows considers part of the Internet zone. This includes files downloaded from any Internet websites, including cloud storage providers; documents attached to emails received from addresses outside the organization; and documents downloaded from file sharing sites. Users won't have an option to manually bypass the restriction.

SpaceSniffer is a freeware and portable (no installation required) tool that lets you understand how folders and files are structured on your disks. When the scan is complete, SpaceSniffer shows you a list of all the files on your hard drive, grouped by type. You can use that list to deleted unneeded or duplicate files. There is also a filtering capability, so you can look at all of your Word docs or JPGs for example.

~~~

Back to Top


ATMs/Kiosks

TMD Security has introduced a new anti-skimming solution dubbed the Card Protection Plate. It is designed to prevent the deployment of inlay, or "deep-insert," card skimming and shimming devices, and is designed to fit various card reader models. It`s goal is thwart scams where criminals insert a wafer-thin data-recording device directly through the card slot and deep into the card reader where it is virtually impossible to detect. The CPP narrows the card reader card slot enough to prevent insertion of such devices.

The ATM Industry Association (ATMIA) has published “Cloud-Based ATMs - Future ATM Hardware and Software Architecture”. The report covers such topics as lowering the Total Cost of Ownership through the Cloud, possible future technology applications, impact on future OS upgrades and migrations, and increased ability to connect to non-banking applications, such as selling lottery tickets, non-profit donations, etc. – by adding apps to the ATM and new deployment potential arising from a more flexible, modular approach to ATM architecture.

~~~

ATMs/Kiosks Sponsored by
Heritage Industries


Back to Top


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:  

VShoreline

Shoreline

and their client is:

Apple Federal 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!

~~~

Back to Top


Wireless World

Many analysts believe that mobile devices can be used to link consumers to their true identities and help prevent fraud. These smartphone activities can be used to vet the identity and credentials of individuals:

- purchasing behavior

- geolocation

- personally identifiable information associated with the wireless carrier account

For example, a credit union could use a mobile device`s geolocation data to determine if a member is near the ATM into which their debit card has been inserted.

iBeacons, which use Bluetooth low energy proximity sensing to transmit messages, can be used to send specific in-branch offers and customized messages that will allow branch visitors to engage with staff. Shikatani Lacroix, a design and branding firm, did a survey that found that there are two optimal locations for geofenced communications: 1) when members are parked in their cars before entering the branch, and 2) in the waiting area. The Toronto-based company also recommends that geofencing offers should focus around rewarding people for their visit, for example offer them a special “thank you rate” on a car loan, credit card, mortgage, etc.

Santander's SmartBank app combine voice banking (not voice biometrics) with PFM features. For example, it will search through statements and find specific transactions by day, week, month or year. A female voice will reply to the questions and transactions will appear in real time, with retailers highlighted by name. Transactions can be searched by specific stores or by categories. The next version of the app will allow mobile bankers to use their voice to make payments, report lost cards, set up account alerts using voice banking and answer an even broader range of spending questions.

~~~

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

Back to Top


Security Section

Bad bots have many nefarious uses:

- Web scraping

- brute force attacks

- online fraud

- account hijacking

- data theft

- unauthorized vulnerability scans

- man-in-the-middle attacks, and much more

In their annual report that identifies statistically significant data on global bot traffic, Distil Networks identified an influx of Advanced Persistent Bots (APBs) which can mimic human behavior, load JavaScripts and external assets, tamper with cookies, perform browser automation, and spoof IP addresses and user agents.

DB Networks DBN-6300 offers database cybersecurity by operating directly in front of the database servers. The DBN-6300 analyzes database traffic and helps identify any undocumented databases, identify traffic to/from restricted segments, and identify advanced database attacks. It performs deep protocol analysis on large amounts of database communications to detect when an entity demonstrates a new behavior – indicative of an unauthorized person using stolen credentials.

~~~

Security Section Sponsored by
StrongAuth, Inc.

StrongAuth

 

Back to Top


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

~~~

Back to Top


Technology and Marketing

Many credit unions use Google AdWords which is Google's advertising system in which advertisers bid on certain keywords in order for their clickable ads to appear in Google's search results. There are four types of keyword formatting match types:

  • Broad which is the default for most multi-word keyword phrases
  • Phrase which controlled by apostrophes. It is used if word order is significant or to eliminate expanded matches
  • Exact which is denoted by brackets
  • Negative which is designated by a minus sign

Of course using the right keywords is critical to success and requires a great deal of planning, forethought and research.

~~~

Back to Top


Online Banking/E-Commerce/Website Design

Qumram says that it is one of only three leading companies worldwide that provides a solution to record, archive, replay and analyze Web and mobile consumer interactions. They note that this helps their clients to ensure compliance, detect online fraud and improve the user experience. The Swiss-based company also offers Qumram for Employee Governance, a solution that allows FIs to carry out compliant, omni-channel communications and transactions with their users over social media.

About 6 in 10 credit cardholders typically pay cash for purchases of less than five dollars, according to a new CreditCards.com report. 27% prefer debit cards and 11% normally use a credit card for a small purchase. However, cash usage is down seven percentage points from 2014. Debit cards are up five percentage points and credit cards are unchanged. There is a clear generational divide: 41% of people under age 50 prefer cash for small transactions and 40% like debit. Among those 50 and older, cash is the runaway winner (74%). Millennials are the most likely to use debit (46%) and credit cards (18%).

A new videoconferencing technology that lets deaf and hard of hearing people have conversations with Australian sign language interpreters is being tested by Westpac. The bank, which is Australia's and New Zealand's second largest bank by assets, is running a six week trial of the system at some of their Sydney branches.

~~

Back to Top


Internet Access

Software-defined networking (SDN) supports many kinds of connectivity such as MPLS, broadband Internet and LTE services, while simultaneously allowing organizations to rapidly set up and manage VPNs, WAN optimization, VoIP and network-based firewalls. Network admins like them because they can be set up in hours compared to the months it takes to install and test MPLS services. SDN vendors like Viptela, Cisco, Riverbed, Citrix, Velocloud, Nuage Networks and Cloudgenix can also help by remotely managing the control software.

The XG-2758 1U pfSense Security Gateway Appliance offers the next-generation in firewall protection with preloaded pfSense software. Netgate says that their pfSense software provides feature-rich security services and perimeter security. Their newest pfSense appliance features 2x10 Gbps SFP+ fiber interfaces and 4x1G ports. The integrated Intel QuickAssist Technology accelerator drives encryption speeds up to 10Gbps while preserving processor cycles for application and control processing.

~~~

Back to Top


Call Centers

Messaging apps literally have billions of users worldwide. In many countries, chatbots are extremely popular on messaging platforms. Chatbots are software that is designed to simulate conversation with human users, similar to human chat sessions on websites, e.g., sales/service live chat from contact center representatives. Chatbot banking is 100% automated and well suited to mobile devices and younger people accustomed to chatting and texting. Some observers see a bright future for chatbots in the contact center and as part of online/mobile banking where users can use it to facilitate balance inquiries, funds transfers, etc.

~~~