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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.

October 17, 2016

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

BB

 

General News  

* CU*Answers Improves CU*OverDrive Marketing Program
* SWBC Partners with SmartAction
* Jack Henry Introduces EBPP Solution
* Extensia Financial Adds Consultative Services

CU*Answers, a 100% credit union-owned cooperative CUSO, recently announced that their new and improved CU*OverDrive marketing program now offers custom website banners, OBC banners, and advertisements for both Hybrid Mobile Apps and Membership Application Process sites. CU*OverDrive features a 12 month digital marketing program that allows their client credit unions to receive custom campaigns each month.

SWBC, an international financial services company, announced that its financial institution group is partnering with SmartAction, a CA-based provider of Artificial Intelligence (AI) voice self-service. SmartAction is providing SWBC with a natural language processing system that uses machine learning technologies to help continuously improve its ability to recognize a caller`s spoken command.

Jack Henry & Associates, a leading provider of technology solutions and payment processing services, announced the availability of JHA EPS SmartPay Biller Direct, an electronic bill, invoice and payment solution. SmartPay Biller Direct allows members to pay bills using checking and savings accounts, credit/debit cards, and PayPal.

Extensia Financial, one of the nation`s largest CUSOs dedicated to commercial real estate lending and advisory services, announced that it now offers annual loan review consultative services to credit unions. Extensia offers services to help prepare and analyze credit unions` loan portfolios data, while also offering strategic advice related to portfolio risk management and accurate credit reporting.

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Hardware News

Hewlett-Packard recently unveiled laptops with what it calls Sure View, a privacy filter that can be toggled on or off with the push of a button. However, credit union executives that would like to secure their laptops from prying eyes will most likely have to purchase an add-on filter. The way that filters are applied to your laptop screen varies from model to model, but filters made by 3M are easy to apply because they attach via reusable micro-suction strips. Privacy filters typically cost between $30 to $50 each.

ESI claims that they have developed a smartphone experience on your desktop. They say that their ePhone7 is the first and only advanced smartphone for the desktop that delivers a mobile user experience with a 7-inch color touchscreen interface, easy access to contacts, presence indication, visual voicemail, one-touch recording, conferencing and more. It allows you to synch personal contacts as well as view the corporate directory with contact availability. 

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

 

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Software Updates

Nok Labs has launched their S3 Authentication Suite - Premium Edition which utilizes standards-based authentication that supports existing and emerging methods of biometric authentication such as fingerprint, iris and voice. They say that the new software provides credit unions with an improved experience for mobile consumers, stronger security and lower fraud costs through risk-based authentication supporting all current and future FIDO protocols. The built-in Risk Engine interprets risk signals from the device including geolocation, device health, and travel speed to drive policies to allow or deny authentication events.

SSH-audit is a standalone open source tool for auditing and fixing SSH server configurations and will run wherever Python is available. It supports OpenSSH, Dropbear SSH and libssh, and reports on every detail of the tested SSH server. The tool can fingerprint SSH1 server keys, but lacks support for SSH2 servers, and will soon be adding support for checking SSH client configurations.

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ATMs/Kiosks

Sophisticated deep insert skimmers are placed so far inside an ATM that they are not only invisible to users, but they also are usually outside the effective range of traditional jamming and detection technologies. Virtually every make and model of ATM, and both motorized and DIP-style card readers, are susceptible to these sophisticated devices. Some feature data storage on the device itself, while others support Bluetooth for card data collection. TMD Security says that their Card Protection Plate, which fits inside the card slot of the reader and fills the space so that there is just room for the ATM user's plastic card, effectively stymies deep insert skimmers.

ATMequipment.com has released a new EMV implementation infographic titled, “Go Live with EMV at the ATM.” The document is designed to help direct U.S. ATM owners and operators as the EMV liability shifts hits October 21, 2016. The guide includes instructions on how to turn on EMV functionality at the ATM and provides links to resources such as the ATMequipment.com EMV guide, software downloads and video tutorials.

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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:  

Network Box USA

NetworkBox

 

and their client is:

Community Resources 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

KodaCloud`s Wi-Fi service consists of a network of Wi-Fi Access Points (APs) that are shipped directly to customer location, or locations, without the need for a customer to buy equipment or a partner to manage an inventory or shipments. With the use of a Web-based dashboard, or via a smartphone app, a customer can install and activate a Wi-Fi business network in minutes with AP-to-cloud activation. The company says that they deliver enterprise grade Wi-Fi security that is monitored by an AI engine that corrects and escalates issues to their 24/7 help desk.

WhiteHat Sentinel Mobile Express is a mobile application security offering from WhiteHat Security powered by technology from mobile security solution provider NowSecure. The solution offers these features:

- Helps speeds up time-to-detection with automated static and dynamic (SAST and DAST) app security testing

- Accommodates agile and DevOps build-and-deploy cycles

- Tests the actual builds by installing and testing mobile apps on physical Android and iOS devices in the cloud, not emulators

- Provides detailed descriptions of vulnerabilities and offers remediation guidance

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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

ThreatSTOP says that their DNS firewall is a cloud-based solution that easily turns any DNS server into a DNS firewall. The service enables automatic blocking or redirection of network communications in accordance with customizable policies. It helps prevent a broad range of threats including ransomware, drive-by downloads, botnets and other Internet risks from activating. They say that attacks are prevented by neutralizing malware`s ability to call home, eliminating data destruction or exfiltration that has bypassed existing network security layers.

Cronus Cyber Technologies has developed a virtual hacker system dubbed CyBot Suite that studies a network, maps it, and builds a set of penetration attacks based on hackers' methodology and preference hierarchy. The Israel-based company says that their solution imitates the way hackers are thinking and operating in order to help a credit union identify and mitigate weaknesses within its network. The firm then presents a report that shows prioritized risks according to the Cronus potential risk factor scale, accompanied by recommendations for possible mitigation plans.

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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

According to Adobe's second annual consumer email survey, time spent checking email has increased 17 percent from last year, with smartphones overtaking computers as the preferred device for sending and receiving email. Email marketing proponents have reasons to be pleased since the survey shows that consumers still see the communication medium as the best way to be contacted by a brand. Adobe recommends that email marketers send messages that are:

- highly personalized

- mobile-optimized

- cover contextually relevant experiences

Nearly 50 percent of consumers prefer to receive marketing offers via email followed by direct mail at 22 percent and social media at 9 percent. Receiving email too often is most likely to annoy people (47 percent), followed by wordy offers (25 percent) and emails containing inaccurate personal data (23 percent).

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Online Banking/E-Commerce/Website Design

According to Javelin Strategy and Research, development in digital banking for small businesses has lagged significantly behind consumer and commercial banking, leaving many business owners and operators managing their finances on platforms that are ill-fitting and inadequate. They recommend that credit unions invest in small business digital banking platforms, and create services that build engagement and demonstrate the credit union`s role as a trusted financial partner. The research firm also found that small business owners are very concerned with malware pilfering online banking credentials and data breaches of payment information. Other security concerns were misuse of accounts by privileged users, email takeover, and physical loss/theft of cards and checks.

While many FIs are actively looking at blockchain technology, regulatory uncertainty and a lack of in-house expertise are proving major roadblocks to near term adoption, according to research from SIX Securities Services. The poll found that respondents were excited about the potential for distributed ledgers and smart contracts to fundamentally alter the financial landscape, yet many provided an average estimate of six years before blockchain is widely implemented. The poll also found that:

- 38% believe blockchain will have the biggest impact on settlement

- 24% believe blockchain will have the biggest impact on clearing

- 20% agree that the technology will make the clearing process completely redundant

Debitize is a New York-based startup that wants to help consumers pay off their credit cards. Their service uses a consumer's existing credit card and credit union account to automatically debit their checking account every day to cover their credit card purchases. The funds are temporarily held in the Debitize Reserve Account until the credit card bill is due, and then the bill is automatically paid through Debitize. The company's pitch is that if you switch from a debit card to a credit card and use Debitize, you can earn cash back or rewards on all your spending while still staying financially responsible.

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Internet Access

TelePacific is the latest telecom to go national with their SD-WAN (software defined wide area network). SD-WAN will be offered as a new capability of its suite of UC, managed IT and managed services. The company says that their service, which is powered by VeloCloud Networks, will allow organizations to be able to more rapidly turn up new locations, add or delete services and monitor their network performance through a single cloud-based integrated software system. A business customer has the option to either use a managed circuit from TelePacific or a broadband connection from their local telecom or cable operator.

The Internet Society's MANRS (Mutually Agreed Norms for Routing Security) initiative's goal is to improve Internet security. Under MANRS, member network operators, primarily ISPs, agree to implement security controls, such as defining a clear routing policy, enabling source address validation, and deploying anti-spoofing filters. One of the goals of these efforts is to try to diminish the prevalence and impact of DDoS attacks. Right now there are no ways to verify that ISPs are continuing with the security controls beyond the initial sign-up process, but the Internet Society is reviewing tools like BGPStream and Spoofer to help automate the assessment and verification process.

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Call Centers

Live chat has its own unique set of Key Performance Indicators (KPIs). For example, some contact centers track these items:

- queue wait time

- number of missed chats

- agent time spent between multi-chat, single chat and idle time

- average chat length

- average handle time

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