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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 31, 2016

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

BB

 

General News  

* Evansville Firefighters FCU Signs with Sharetec
* Bethpage FCU Selects The FirstClose Report
* Synergent Announces Rebate
* FICO Launches FICO Enterprise Security Score

Sharetec System, one of the fastest growing core systems, announced that Evansville Firefighters FCU in Evansville, IN, has signed with Sharetec to become their new core system provider. The credit union will also soon be offering Sharetec's Picture Pay bill payment, remote deposit capture, online enrollment, and mobile banking.

FirstClose announced that Bethpage Federal Credit Union has selected The FirstClose Report to obtain instantaneous title search, flood certification, valuation and property information with $500,000 of lien protection insurance for all of its HELOCs and Home Equity loans. Bethpage FCU is the 16th largest credit union in the nation and New York State`s largest with $6.8 billion in assets serving more than 300,000 members.

For the tenth consecutive year, Synergent, the Maine Credit Union League`s service subsidiary, has provided a rebate to its credit union partners. In addition to the $750,000 rebate, they also announced a price reduction for Synergent Card Services' users.

FICO has launched the FICO Enterprise Security Score, a metric that reveals the likelihood an organization will be breached due to a cyber-attack. This score can be used by an organization to understand and shore up its defense gaps, and by third parties such as cyber insurance providers, potential partners and customers who need an objective measure of an organization`s cyber risk.

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Hardware News

Google has unveiled Jamboard which is a large digital whiteboard built to encourage staff collaboration. Jamboard has a 55-inch 4k display, and comes with a stylus and digital eraser. It also has built-in speakers, an HD camera, Wi-Fi connectivity, and a smartphone and tablet companion app. Jamboard will be available in 2017, and will cost around $6,000.

BIO-key has launched three fingerprint reader devices that retail for around $40 each. The EcoID, the SideSwipe, and the SideTouch are USB devices that are meant to be used with Windows 10 and its biometric sign-in feature, Windows Hello. The EcoID and SideSwipe also run on Windows 7. 

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

 

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Software Updates

Netwrix Change Notifier for Active Directory tracks changes to Active Directory (AD) users, group memberships, OUs, permissions, and provides visibility into what is happening inside your AD. This freeware tool shows what was changed with ‘before` and ‘after` values. The company says that the package provides meaningful insight into changes eliminating the need to analyze native logs.

MasterCard has received an additional range of 2-series numbers to add to the 5-series that they currently provide and their client financial institutions can expect to be issued 2-series BINs starting in 2017. The addition of 2-series BIN/IINs (Bank Identification Numbers and Issuer Identification Numbers) is intended to fuel future payment industry growth. They list these potential implications for issuers:

- Routing & processing

- Reporting & reconciliation

- Dispute processing

- Rewards & loyalty

- Online banking

- Balance transfers

- P2P payment processing

- Card production

- Card design

The Pro or Enterprise version of Windows 8.x or Windows 10 includes encryption software called BitLocker. However, if you use a different version of these operating systems - or if you want to encrypt only specific folders or files rather than the entire drive - there are many other options. Here are five to consider:

- CryptoForge Encryption Software

- Inv Softworks Kryptel

- Kakasoft Advanced Folder Encryption

- Kruptos 2 Professional

- QuickCrypto

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ATMs/Kiosks

Diebold Nixdorf showed off their “Extreme ATM” concept at the recent Money 2020 conference. The small machine – much smaller than a traditional ATM at less than 10 inches wide - enables NFC and Bluetooth payments, as well as the ability to pay by scanning a QR code. The ATM at the Money20/20 show did not have a card reader, but instead validated users with a fingerprint reader, which then opens up a PIN pad on the machine`s tiny iPad-like screen. However the company noted that the ATM could roll out with a chip reader.

In a related story, ProxToMe is the technology that authenticates Diebold Nixdorf's Extreme ATM users through their Bluetooth-enabled mobile device. ProxToMe states that their core proximity technology combines Bluetooth and the cloud in a unique new way to provide accurate, secure, and cross platform proximity certification for cardless access to ATMs. The provisioning model consists of SDKs and/or access to API and cloud/on premise hosting. They also say that it is the ideal technology to handle high density scenarios like multiple users in line at an ATM or multiple ATMs in a row. All pairing and communication is done in the cloud - no data is passed over Bluetooth or used to pair devices. They follow security standards for data encryption and generate one­-time passwords on each device every time a mobile user engages with an ATM.

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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:  

AppSense

AppSense

and their client is:

Conexus 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

An Accenture survey found that 76% of mobile payments users are satisfied with the payment method. That is the good news - the bad news is that the number of Americans who use their mobile phones to pay at the point of sale has not changed much in the last year, even though over half of the consumers surveyed — 56% — are now aware that they can use their phones to pay. It appears that cash and regular debit/credit cards are convenient enough at this point for many consumers.

MasterCard is launching a new chatbot program that lets members easily communicate with their credit union to see their balances, make transactions, and generally manage their money. Kasisto will be the card giant's partner in the endeavor and the new AI chatbot will be called KAI. Starting early next year, US consumers can ask the bot questions about their accounts, review purchase history, monitor spending levels, learn about MasterCard cardholder benefits, receive contextual offers through integration with MasterCard Priceless experiences, and obtain help with financial literacy.

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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

With micro-segmentation (AKA hyper- or nano-segmentation), administrators create secure “zones” for connected endpoints that serve to prevent malware from spreading laterally across an organization that has been breached. In addition to controlling traffic through the use of micro-segmentation policies, GuardiCore Reveal, a core component of the GuardiCore Centra security platform, gives administrators the ability to discover, monitor and visualize activity inside the data center. The software also scans all of the process-level activity and network events, correlates the information and builds a visual map of "normal" operations - any unusual activity could signal a breach.

Nubeva is a startup that has created a platform that helps automate the deployment of on premise security resources to the public cloud. The Silicon Valley-based company's Security as a Service platform named CloudEdge scans an organization's security profile to determine which products are used. Then, it deploys those in a public cloud like Amazon Web Services, Microsoft Azure or Google cloud. They say that they can launch security tools - like next-generation virtual firewalls, advanced threat protection, anti-malware, data loss prevention, etc. - from Palo Alto Networks, Cisco and many others.

STEALTHbits Technologies has updated their StealthINTERCEPT real-time change and access monitoring solution to version 4.0. Augmenting its authentication blocking capabilities, StealthINTERCEPT 4.0 also helps protect an organization`s unstructured data by providing automatic file system activity blocking for users exhibiting suspicious activity on Windows File Systems. For Exchange, StealthINTERCEPT 4.0 adds operation-level monitoring for critical activities such as messages read, attachments accessed or forwarded, deletions, and other indicators of compromise or abuse, to its existing capabilities that monitor, control, and alert on Exchange mailbox access events and permission changes in real-time, without reliance on native auditing.

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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

By some accounts, older Americans control 83% of the country`s household wealth. Some marketers targeting older Americans prefer to use the term Baby Boomers instead of Seniors, but either way, many older consumers would appreciate special discounted accounts that are truly different than other accounts. For example, Community Resource Credit Union offers a no monthly maintenance fee Senior account that features:

- Online/Mobile Banking with Mobile RDC

- e-Statement & e-Notice Service

- Complimentary 3” x 5” Safe Deposit Box

- Complimentary Cashier`s Checks/Money Orders/Traveler`s Checks

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Online Banking/E-Commerce/Website Design

Visa announced it is looking to accelerate the adoption of secure, digital payments by allowing third party partners to offer Visa Token Service (VTS). The Visa Token Service standard is a security technology that replaces cardholder information, such as account numbers and expiration dates, with a unique digital identifier (a “token”) that can be used for payment without exposing a cardholder`s more sensitive account information. Visa`s token service provider program gives organizations a standards-based approach to access Visa`s broad network of tools and services, including VTS, as well as development and marketing support.

IBM says that their Security Trusteer Pinpoint Detect offering is a digital banking fraud prevention solution that helps block fraudsters from using pilfered credentials to get unauthorized access to accounts. It uses behavioral biometrics to track, study, and analyze behavior of authorized users. In action this means that a fraudster will be unable to gain access unless they are able to exactly replicate the way the user typically logs on and navigates the website. Security Trusteer Pinpoint Direct focuses on patterns of movement on a page, not which pages are accessed, so visits to new areas of a website are not flagged as suspicious.

Team Cajun Power and their idea for an online loan decisioning and funding app have been selected as the winner of KnockOut 2016, a 24-hour competition hosted by PSCU last month. According to Team Cajun Power which was composed of members from PSCU and University of Louisiana FCU in Lafayette, LA, instant loan decisioning and funding addresses a need from the perspective of both credit unions and members. It allows credit unions to change the landscape of traditional and online lending by competing real-time for loans, grow their loan portfolio, and increase income.

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Internet Access

In the long term, Google wants every page of your site to support HTTPS—not just the ones with payments or passwords. In fact, Google search already prefers to return results from pages with HTTPS over pages that lack a secure connection. In the short term starting in January 2017, websites will need to serve pages with password or payment fields over an HTTPS connection, or else Chrome will warn that the page is "Not Secure." To enable an HTTPS connection for your website, you need to setup an SSL certificate for your website. Configuration of certificates used to be much more difficult, but fortunately more and more ISPs are making it very easy to run secure websites. Let's Encrypt, a project of the nonprofit Internet Security Research Group, provides certificate services at no cost.

Amazon is attempting to simplify the process of moving legacy applications to the cloud with a new solution called Server Migration Service. It is designed to help IT departments set up the incremental replication of virtual machines from their on premise infrastructure to Amazon's cloud. The service take the contents of a VM and reproduces it as an Amazon Machine Image stored in the AWS Elastic Block Store service.

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Call Centers

FairPoint Communications offers an advanced call center management system that offers organizations the tools they need to manage a consumer service operation – through both traditional voice support and multimedia applications like instant messaging, online chat, email and social media queuing. They state that because it is offered as a feature enhancement to Hosted PBX or SIP Trunking service, it eliminates the need to manage multiple vendor maintenance and support contracts. FairPoint's Cloud Contact Center features automatic call distribution (ACD), interactive voice response (IVR), unified messaging, workforce management, computer telephony integration (CTI), performance analytics and more.

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