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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.

November 7, 2016

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

BB

 

General News  

* Corelation Adds Three New CUs
* Fiserv Partners with CrowdStrike
* CU*Answers Migrates 114 CUs to Bill Pay
* Neustar Adds Fraud Detection Solutions Product

Credit union core processing vendor Corelation has added three more credit unions to its KeyStone core processing family, bringing its total to 55 clients. The latest additions include: Park View FCU ($148 million; 9,631 members; Harrisonburg, VA); Lower Valley CU ($110 million; 13,944 members; Sunnyside, WA); and DuGood CU ($265 million; 29,741 members; Beaumont, TX).

Fiserv, a leading global provider of financial services technology solutions, and CrowdStrike, a provider of next-generation endpoint protection, announced an agreement to add CrowdStrike`s SaaS-based endpoint protection technology to Fiserv`s Sentry Cyber Security offerings. With CrowdStrike Falcon, Fiserv clients can prevent, detect, and respond to malicious cyber threats in real-time, helping them stop breaches.

CU*Answers SettleMINT and Payveris successfully launched the last of their scheduled migrations of credit unions to the It`s Me 247 Bill Pay powered by Payveris product on October 24, CU*Answers` first natively designed and fully integrated bill payment and presentment product. This bill pay launch concludes the implementation of 114 credit unions scheduled to switch in 2016.

Neustar announced its Fraud Detection Solutions which integrates multiple identity ecosystems to provide a single view for fraud, compliance, risk, and member acquisition. Neustar Fraud Detection Solutions helps evaluate risks during account origination, reduce fraud, provide secure transactions, and data collection and matching is accomplished via user opt-in consent.

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Hardware News

Storage and memory are beginning to merge, e.g., 3D Xpoint, a technology from Intel and Micron that can serve as memory, storage, or both. In response, a new consortium, called Gen-Z, is creating a new specification and architecture that will make it easier to add new forms of non-volatile memory to computers. Data transfer speeds for the new specification will be tens to hundreds of gigabytes per second, much faster than the speed of the upcoming PCI-Express 4.0, which offers 32GBps. Initially, the new architecture will be targeted at servers and data centers by consortium members that include top server companies IBM, Hewlett Packard Enterprise, Dell and Lenovo, and storage and memory vendors Samsung, Seagate, Micron, Western Digital and SK Hynix.

Business News Daily states that they use precise, repeatable testing procedures to evaluate tech products. They recently put their methodology to work to find the best Dell laptops for business users. Here are their results:

- Best Dell Business Laptop Overall: Dell Latitude 14 7000 (E7470)

- Best Value for Dell Business Laptop: Dell Latitude 15 3000 (3570)

- Best 2-in-1 Dell Business Laptop: Dell Latitude 12 7000 2-in-1 

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

 

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Software Updates

The number of organizations using cloud-based email is growing rapidly, yet regulatory, security, and migration challenges abound. One company that helps organizations migrate their email between archive platforms, including both cloud and on premise offerings, is TransVault. The company notes that migrations are usually straightforward, but that you can often expect to experience issues with email archives. Proponents argue that moving email to the cloud avoids capital expenses, increases resiliency and reduces staffing demands.

AvailabilityGuard/Enterprise is an IT Operations Analytics solution that helps proactively detect misconfigurations and ensure service availability levels. The software automatically scans your IT infrastructure in a non-intrusive, read-only mode. It collects up-to-date configuration information from servers and clusters, storage devices, virtual infrastructure, database servers, and from the networks that connect them across physical, virtual, and hybrid environments. After scanning, it performs analytics on that big data collected and pinpoints any single-points-of-failure or other misconfigurations that can lead to potential downtime and data loss. The newest version 7.2 features a new Infrastructure Resiliency Snapshot Report that will provide IT executives with one-click visibility to IT downtime and data loss risks.

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Software Updates Sponsored by
LogRhythm

FI fraud activity reached an all-time high in 2015, and in turn Credit Unions increasingly need software able to produce real time alerts on suspicious so that fraud analysts can be more proactive. LogRhythm's Security Intelligence and Analytics Platform consolidates analytics into a single platform and provides out-of-the-box Compliance Automation Suites to help financial enterprises comply with requirements, deliver automated reports, and produce forensic investigations.

Learn how Alliant Credit Union has successfully implemented real-time fraud detection by clicking here to read their case study.

 

LogRhythm Security Intelligence and Analytics Platform

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ATMs/Kiosks

Cash remained the most frequently used retail payment instrument last year, according to a new Federal Reserve Bank of San Francisco report. More than 50 percent of transactions under $25, and 60 percent of transactions under $10, were made with cash. While households with higher incomes are more likely to prefer credit and less likely to prefer cash, all income groups make roughly the same number of cash transactions per month. However, it is important to note that cash`s share of all transactions fell approximately eight percentage points while debit and credit cards increased two and four percentage points to 27 and 21 percent, respectively.

Interact Software states that they currently have more than one million software agents spread over 5 continents. They say that they can monitor an ATM as easily as a simple workstation. Their IA-ATM module generates alerts by specific events (non-availability, performances, etc.) and provides detailed monitoring reports for all transactions (deposit, withdrawal, etc.).

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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:  

AudioBrain

Vysym

 

and their client is:

1st Advantage 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!

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Wireless World

Research from StatCounter Global Stats found that mobile has passed desktop as the top source of Web traffic worldwide. 51.3% of Internet usage in October 2016 came from mobile devices, while 48.7% came from desktop access. However, the US market sees 58% of Internet usage from desktop and only 42% from mobile, but the report's authors still warn that "this should be a wakeup call especially for small businesses, sole traders and professionals to make sure that their websites are mobile friendly. Many older websites are not."

Entersekt says that their Transakt solution`s unique digital certificate identifier turns a mobile device “into a trusted second factor of authentication.” The integration of X.509 digital certificate technology provides out-of-band, two factor authentication and asymmetric identification of the mobile device, without the member having to switch apps. They say that it counters phishing and man-in-the-middle attacks through dynamic certificate pinning.

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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

According to a report by the Aberdeen Group entitled “The Last Mile in IT Security: Changing User Behaviors,” the proportion of infections that result from user behaviors is estimated at between 70% and 95%. Security education proponents claim that malware infections can be reduced by 45% to 70% through user awareness and training. They point to estimates that show that globally 8 million phishing email messages are opened every day, and of those, 800,000 recipients of the malicious messages click on the embedded links. Finally, about 10% of the people who click on a link actually give their information over to the phishing scammers.

The NSFOCUS Next Generation Intrusion Prevention System (NGIPS) uses a multi-layer approach to identifying and addressing known, zero-day and advanced persistent threats to help protect organizations from malware, data leakage, brute force cracking, protocol attacks, scanning/probing, web threats and more. Their approach combines signature and behavior based detection, protocol and traffic anomaly detection, correlation analysis, deep packet inspection and the latest threat intelligence to help detect malicious sites and botnets.

BioCatch has upgraded their behavioral biometrics online and on mobile solution to version 2.0. They state that the new release features fast processing of risk-score calculation, providing real-time behavioral insights, as well as a new graphical user interface for the “Analyst Station”, which helps fraud teams to further investigate and analyze fraud cases. There is also enhanced robotic and malware detection in the new version.

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Security Section Sponsored by
StrongAuth, Inc.

StrongAuth

 

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Leaders Roundtable

Core Systems:

The Foundation of Your Member’s Experience

 

Celent - http://www.celent.com
Read Stephen Greer's comments:
https://www.cunews.com/Celent.pdf

 

Corelation - http://www.corelationinc.com
Read Theresa Benavidez's comments:
https://www.cunews.com/Corelation.pdf

 

CU Answers

 

Enhanced Software Products - https://www.espsolution.net
Read Matt Lefler's comments:
https://www.cunews.com/ESP.pdf

 

 

Member Driven Technologies - http://www.mdtmi.com
Read Matthew Baaki's comments:
https://www.cunews.com/MDT.pdf

 

Share One - http://www.shareone.com
Read Teri Van Frank's comments:
https://www.cunews.com/ShareOne.pdf

 

 

 

 

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Technology and Marketing

Some credit unions offer sales tools on their websites that tout potential savings that encourage consumers to switch over to their credit union. Case in point: First Tech Federal Credit Union offers one such tool to prospective members - the future member chooses their products on the left side of the Savings Estimator, and the cumulative savings is shown on the right. Product options include: first mortgage, HELOC, auto loan, rewards credit card, dividend rewards checking, money market account, and certificates.

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Online Banking/E-Commerce/Website Design

Self Bank, a Spanish online bank, had developed a sophisticated customer onboarding platform that combines videoconferencing, biometrics and electronic signatures. They claim that the new digital registration process allows anyone to complete all of the steps necessary to open and use a fully operative account in just a few minutes. The system captures essential documents on camera and applies facial recognition to authenticate user identities. Once enrolled, customers can sign up for any of the bank's products immediately using electronic signatures.

PayKey is an Israeli startup that makes payments in all social network (Facebook`s Messenger, WhatsApp, Instagram, Twitter, etc.) chats possible. It relies on the mobile phone`s keyboard to facilitate the payments via a payment button that can be branded to any FI. PayKey was founded in 2014 and recently won the DEMOvation Challenge.

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Internet Access

In 2015, AT&T more than doubled its local area Ethernet footprint, and plans to grow another 30 percent by 2020. While Ethernet is a technology and a network in itself, it`s also the gateway to enterprise IP VPNs and the Internet - it can seamlessly connect the offices of an organization whether they are 5, 500 or even 5,000 miles apart. Switched Ethernet on Demand offers some powerful features: organizations can quickly add or change services, order additional sites, ramp up bandwidth capacity and manage the network in real time via an online portal.

A new type of cable technology called "DOCSIS 3.1" is beginning to enter the market, and it delivers very high speed service over existing cable TV wires at much lower prices than fiber-based Internet. DOCSIS delivers speeds of up to 1Gbps over existing cable TV lines, however connections are asymmetrical, so its downloads are much faster than uploads. For example, Comcast has a service called Gigabit Internet that provides download speeds of 1Gbps and upload speeds of about 35Mbps.

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Call Centers

SpeechiQ is a software package that helps contact center managers and QA personnel analyze recorded calls for quality, compliance, sales effectiveness and more. The company uses a proprietary automated speech recognition engine that can be cloud-based platform or on premise. It also features automated sensitive data redaction, advanced search capabilities (by date range, office, skill, agent, caller phone number, etc.) and allows for call recording storage for as long as you specify.

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