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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.

May 9, 2016

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

BB

 

General News  

* Fiserv and INETCO Partner
* Catalyst Corporate Introduces TranzCapture
* i2c Expands Payment Control Features
* Cardlytics Launches Syndicated Audiences

INETCO Systems Limited announced they have signed an agreement with Fiserv whereby Fiserv will be reselling the INETCO Insight and INETCO Analytics omnichannel monitoring and analytics software to credit unions. Fiserv will also embed INETCO`s transaction monitoring, alerting and on-demand customer experience analytics into Device Manager from Fiserv.

Catalyst Corporate FCU is introducing TranzCapture which it is calling a next-generation platform of remote deposit services that will deliver system interconnectivity. TranzCapture will integrate branch, ATM, mobile, and business/merchant capture applications, as well as new ITM capture applications through a single administrative module.

i2c Inc., a global provider of integrated commerce solutions, announced new enhancements to card control and real-time alerts built into its payment processing platform. Alert and spending control features enabled at the processor level give issuers an efficient way to bring to market advanced card features that mitigate fraud risks.

Cardlytics announced the availability of Cardlytics Syndicated Audiences to help marketers reach high-intent consumers based on actual past purchases. Cardlytics Audiences draw on purchase insights from more than $1.5T in actual consumer spend which includes transactions across credit, debit, ACH and bill pay

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Hardware News

The HERO 9400-UA Universal Network Appliance can run multiple concurrent virtual network functions, e.g. router, firewall, WAN acceleration, etc. This high performance network server comes with advanced remote management features via their cloud-based management portal, Accelerated View. From Accelerated View, you can remotely monitor, configure and update single or groups of devices including managing the virtual machines of the 9400-UAs. The box starts at $1695.

According to J.D. Power and Associates, consumer satisfaction for hybrid devices like Microsoft's Surface, Apple's iPad Pro and numerous other 2-in-1 devices is 11 points higher than tablets. The research firm notes that the average customer spent $444 for a hybrid device relative to $277 for a tablet. Somewhat surprisingly, Microsoft and Apple are in a dead heat in terms of satisfaction with the Surface and iPad, respectively. 

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

 

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Software Updates

Ceph, an open source distributed storage platform owned by Red Hat, provides interfaces for object, block, and file level storage in a single unified system. Ceph, which can be defined as "software defined storage,” replicates data across disks so as to be fault-tolerant, all of which is done in software, making Ceph hardware independent. Some analysts believe that Ceph will replace RAID which has not scaled well to modern storage. Plus, much of the design of RAID5 and RAID6 dates back to the late 1980s so it is very dated technology.

A technology group within the accounting giant Deloitte is looking to build a new core system using blockchain at its centerpiece. With twenty financial services blockchain prototypes under its belt, Deloitte is looking to take the distributed ledger technology further. They will be partnering with startups BlockCypher, Bloq, ConsenSys Enterprise, Loyyal, and Stellar in their efforts.

Adobe says that with e-signatures, organizations of all types and sizes can cut out the cost and hassle of manual and paper-based tasks — and speed business transactions — while gaining more control and visibility over the entire process. The software giant recently updated their Adobe Sign e-signature solution which they claim has everything you need to turn existing signing processes into 100% digital workflows. Individual plans start at $9.99 per seat per month; Business plans start at $30/seat/mo and Enterprise is $45/seat/mo.

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ATMs/Kiosks

So called “deep insert skimmers” are wafer-thin fraud devices made to be hidden inside of an ATM's card acceptance slot. These nefarious devices are completely hidden from the ATM user. An NCR report notes that “neither NCR Skimming Protection Solution, nor other anti-skimming devices can prevent skimming with these deep insert skimmers.” These latest devices can store card data internally on a chip and are retrievable.

Fort Mill, SC-based Founders Federal Credit Union ($1.9B in assets), has selected Source Technologies` 6-Series kiosk to help their members to simply and quickly check in at their local branch and better prioritize member service based on each member`s specific need. With a footprint at just over one square foot, the 6-Series kiosk can be placed in multiple locations within Founders FCU`s branches without impacting displays or foot traffic flow. The kiosk features industrial grade components including the latest projective capacitive touch technology screen which is the same technology pioneered by Apple for use on the iPhone.

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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:  

QuestSoft

QuestSoft

and their client is:

Patelco 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 Federal Financial Institutions Examination Council (FFIEC) has issued new guidance to its examiners regarding mobile financial services (MFS), which includes mobile banking and mobile payments. In their appendix, the FFIEC recommends that financial institutions develop a layered approach, including operational controls for:

1) enrollment

2) authentication and authorization

3) application development and distribution

4) application security

5) contracts

6) customer awareness

7) logging and monitoring of MFS

HipPocket's software integrates with a credit union`s existing website and supports mortgage, auto loan, and retirement product comparisons. The company says that their software engages mobile and website visitors by using social influence and personalized consultation to generate new, qualified mortgage or retirement leads. The Nebraska-based firm uses patent-pending software that combines an intuitive user experience, unbiased peer data, product analysis, and an integration with real-time product rates.

Navy Federal Credit Union, the largest credit union in the world, has 2.5 million mobile users, 58% on iOS and 42% on Android devices. They recently enhanced their popular mobile banking app with a financial calendar. The calendar, which acts like a personal financial management tool, has proven popular on their tablet app. In action, the calendar displays financial events in the member`s account – incoming direct deposits, bills due, etc.

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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

Fidelis Cybersecurity has launched Endpoint 6.0 and they say that this new release steals time from attackers by automating the investigation of security alerts. The company states that their new architecture enables security teams to quickly query thousands of endpoints and receive initial results in seconds, and that it automatically discovers all endpoint devices (Windows, Apple OS and Linux) connected to your network. They also note that the new version more efficiently distributes updates, performs specific tasks across the network, and pushes agents to unprotected endpoints.

Cyberfend claims that their Bot Detection solution can detect any attack script, deployed in any language through any system on any device, under any platform. They say that it protects your web and mobile applications from sophisticated attacks, fraudulent activity, stolen credential abuse and fake sign-ups. The company states that whether an attacker is using a simple script, malware, man-in-the middle or remote-access Trojan to capture transactions or gain account access, Cyberfend can detect it in real-time.

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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

Savvy email marketers know the importance of having a great subject line. Some go by the 50 characters rule - fewer than 50 have higher open rates, and anything over 50 runs the risk of being truncated. Others advocate trying to convey a sense of urgency in the subject line with a special announcement or limited-time offer, but without being to aggressive. Some email marketers see up to 8 percent higher open rates than average when they use short subject lines that drive urgency. The bottom line is that the subject line must be as compelling and to the point as possible.

In an effort to get more Millennials into mortgages, Amalgamated Bank in New York now offers down payment insurance for home buyers. The insurance covers a percentage of the borrower's down payment if they have to sell the home at a loss. The coverage is designed especially for Millennial home buyers who worry about putting their life savings into a house. ValueInsured created the product and hopes to offer it through more FIs.

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Online Banking/E-Commerce/Website Design

According to a recent Gartner report, by the end of 2019 25 percent of retail banks will replace legacy online and mobile banking systems with technology from startup providers. The recent report, entitled “Market Guide for Open Unified Digital Banking Platforms,” says that newer fintech providers can often deliver open architecture that give FIs the ability to offer innovative digital services that support personalized banking experiences, data and behavioral analysis, location and context sensitivity, etc.

A new study from Juniper Research entitled “Online Payment Fraud: Key Vertical Strategies & Management 2016-2020” predicts that the value of online fraudulent transactions is expected to reach $25.6 billion by 2020, up from cyber $10.7 billion last year. This means that by the end of the decade, $4 in every $1,000 of online payments will be fraudulent, the research firm said. The new study identified the top two areas for online fraud:

- eRetail (65% of fraud by value in 2020 - $16.6 billion)

- Banking (27% - $6.9 billion)

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Internet Access

Security vendor Kaspersky Labs is predicting that application layer DDoS (distributed denial of service) attacks are set to increase dramatically. Kaspersky Labs said it combatted more HTTP(s) attacks in Q1 than during the entirety of 2015. Unfortunately, if the application layer attack is carried out properly, it is difficult to counter it without blocking access to legitimate users because malicious requests look authentic.

AVANU`s WebMux Network Traffic Manager is a load balancing/ADC solution using the 64-bit processor platform with algorithms to help provide high capacity and availability to manage, control, and secure local network Layers 4-7 traffic. The company just released their WebMux Network Traffic Manager v12 which features a new management interface to help optimize the use of smartphone and tablet mobile technologies.

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Call Centers

In the new “Contact Centers: The Fraud Enablement Channel” report, more than three-fourths of financial institutions interviewed said fraud committed through their contact centers is trending up. The report from the Aite Group shows that of those institutions seeing a rise on contact center fraud, 17% say fraud has jumped 25% or more in the past 12 months. Scammers often use social engineering on contact center agents to try to:

1) request a replacement credit/debit card

2) add a new cardholder to the account

Some security experts recommend implementing voice biometrics to battle call center fraud, and also sharing information among agents about callers who failed to authenticate themselves.

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