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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.

September 26, 2016

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

BB

 

General News  

* Ongoing Operations Adds New CISO as a Service Offering
* NCR Launches Mobile Business Banking App
* Members Source CU Becomes CU*Answers Owner
* FirstClose Enhances Equity Protection Program

Ongoing Operations, a leading provider of business continuity and technology solutions for credit unions, has launched a new CISO as a service offering. The CUSO has hired Robert Miles to lead its team of information security experts. Previously, Miles served as Chief Security Officer for The Cerebellum Group and Director of Information Security for PSCU.

NCR announced the launch of Business Banking Mobile, extending the SaaS-based platform to members` mobile devices. Small business owners will be able to securely access key financial tools on-the-go, including multi-TIN transaction history and transfers, approval workflows for wire and ACH templates and payments, token support, mobile notifications, and end user management.

Members Source Credit Union, located in Merrillville, IN, recently became the newest owner of West Michigan-based cooperative CUSO, CU*Answers. The $75 million credit union represents approximately 7,700 members and becomes the 127th current CU*Answers credit union owner.

First Lenders Data (FirstClose) announced that it has introduced a change to its Equity Protection Program for lenders using its FirstClose Report. The Austin-based company says that their Equity Protection Program is a credit risk management solution offered through a partnership with Van Wagenen Financial Services that gives credit unions the ability to increase loan volume by expanding loan to value (LTV) thresholds and underwriting guidelines without increasing exposure to risk.

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Hardware News

Hewlett-Packard has launched a new line of multifunction printers (MFPs) that are A3 models, which are able to print or copy onto 11 x 17-inch pieces of paper. The PageWide and LaserJet Enterprise models will come with security features like Sure Start, Run-time Intrusion Detection, and Whitelisting, while the HP PageWide Pro devices will come with secure boot and firmware integrity checking. On the maintenance front, the new printers will support HP's Smart Device Services which are integrated with third party device monitoring and service management tools. Finally, the machines will use sophisticated color printing technology that HP claims will bring the cost of printing color pages down to nearly the same cost as printing black pages.

Acer announced their new Spin line that features four different laptops with 360-degree hinges. The Spin 1 starts at $249 and sports an 11.6-inch display with either 1080p resolution on an IPS display, or a 1366-by-768 screen featuring Antimicrobial Gorilla Glass. It can hold up to 8GB of RAM and a 1 terabyte hard drive, or 64GB of eMMC flash storage. The other more powerful models include: the Spin 3 which starts at $500, the Spin 5 at $600, and the Spin 7 at $1,200. 

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

 

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Software Updates

Some organizations have been turning away from Microsoft Office and switching to the open source LibreOffice. However many others are deterred by fears of incompatibility with Microsoft Office and resistance from users. LibreOffice proponents counter that the move with save money and that there is a great deal of free documentation and community-led assistance to help you make the shift to LibreOffice. For example, The Document Foundation offers a sample testing, deployment and migration plan, and a paper setting out a migration protocol. It is also advisable to give employees time to adjust to LibreOffice by first running it alongside their existing Office suite.

Windows Server 2016 is rolling out this week and it features some interesting new security features. Here are a few to consider:

- Nano Server is an ultra-compact Windows Server version that does not include a GUI which renders the system's attack surface exceedingly small

- Shielded Hyper-V virtual machines which are VMs with encrypted virtual hard disks

- Just Enough Administration is Microsoft's application of "least privilege" security in the Windows PowerShell

- "Headless" Windows Defender - anti-malware without a GUI

- Device Guard locks down the system such that it can run only software applications that have been digitally signed and are allowed in your security policy

- Credential Guard uses Hyper-V virtualization to protect in-memory credentials

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ATMs/Kiosks

Kaspersky Lab experts are investigating how scammers can exploit biometric ATM authentication technologies such as fingerprint, iris, palm vein and finger vein. Kaspersky Lab researchers have discovered that there are already at least a dozen sellers offering skimmers capable of pilfering victims` fingerprints. In addition, at least three underground sellers are already researching devices that could illegally obtain data from palm vein and iris recognition systems. They also warn that criminals will continue to conduct and refine malware-based attacks, blackbox attacks and network attacks to seize data from ATMs.

The Co-op nationwide ATM network will soon support FIS Cardless Cash which is a mobile solution that allows ATM users to withdraw funds without a plastic card. The cardless cash function will be added to the menu of terminal driving services for Co-op ATMs in a pilot test beginning in Q1 2017. According to FIS, members who use the mobile banking app to prestage a withdrawal can generally complete their transaction at the ATM in less than 10 seconds, with an electronic receipt delivered to their smartphone.

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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:  

OnBase by Hyland

OnBase

and their client is:

Anheuser Busch Employees' 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

Onfido, a British company that was founded in 2012, wants to help credit unions onboard new members and reduce fraud. Their software vets identity by using facial recognition technology to compare selfies and images of consumers' ID documents submitted during the sign-up process as well as verify the authenticity of the documents. Onfido's software uses the smartphone's camera to collect the driver`s license, passport, etc., automatically fact-check them, and populate the data into an application.

P2P transfer service Venmo has released new functionality that they are calling "Payments at the Speed of Conversation." The integration with the iPhone`s personal assistant Siri allows Venmo users to simply ask her to pay and charge your friends. In action, Siri will draft a text message for you to review and send to Venmo, then Venmo will double check your grammar and make sure you are paying or charging one of your Venmo friends. If everything checks out on the back end, Venmo will pay or charge your friend and send you and Siri a confirmation message.

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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

The security information and event management (SIEM) market started as a central repository for event correlation for perimeter security devices and log management tool and has continued to evolve over the years as vendors compete to offer more features and functionality. Some additions include:

- A reporting engine for governance and compliance

- Security analytics

- Network and server security monitoring

- Threat intelligence exchange

- Incidence response

Finding insider fraud like that committed by Wells Fargo employees is a difficult task. One startup that says that they can help is BigID which monitors member data and compares newly entered data against data in archives and applications to find anomalies. For example, their software could be configured to watch for an email address changing right before a new account is created, and it could send an alert that is triggered any time there are three or more data disparities within an account. BigID has also developed technology that tracks consent agreements which could potentially be used to ensure that they originated from a member's PC or mobile device.

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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

 

 

 

 

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Technology and Marketing

Many Personal Financial Management (PFM) systems offer goal-based savings plans, and some observers believe that credit unions should get onboard with helping members increase their savings. Of course there are generic "rainy day" or emergency savings goals, but there are also a wide range of specific savings goals. One niche area is to help young people who are looking to become first time renters. They may need assistance with moving expenses, rental deposit, first/last months` rent, and utility deposits. In very expensive urban areas like the Bay Area, LA, Chicago and New York, these expenses might even call for personal loans, often co-signed by parents to other family members or friends. Case in point: San Francisco Fire Credit Union offers loans up to $10,000 to cover rental expenses. Some institutions also offer renters insurance to help renters who would be financially strapped should their belongings disappear by theft, fire, flood or other calamity.

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Online Banking/E-Commerce/Website Design

As a payments technology platform, linked2pay provides services to deliver ACH, credit card and check payments automation. The company just announced that they have added financial institution integrated same-day ACH payments to their platform. They note that the business applications for faster ACH payments are many and will only increase as we move through the phases of service delivery mapped out by NACHA for 2016 and beyond.

TokBox is a PaaS (platform as a service) company that provides hosted infrastructure, APIs and tools required to deliver enterprise-grade WebRTC capabilities. The company states that they offer everything you need to integrate video, voice and messaging into your website or mobile app. Use cases include offering help with account questions, retirement planning or portfolio management. Staff can talk with members via live video, directly embedded into the context of their account, share their screen and other documents, and collaborate in real time.

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Internet Access

AT&T says that their Project AirGig delivers "last-mile" Internet access without any new fiber-to-the-home and does not require new towers or laying new cable. They claim that it can deliver multi-gigabit wireless Internet over existing power lines. This technology uses new antennas, designed by AT&T, that would sit on top of the power lines and help deliver the signal. Project AirGig is expected to start field trials in 2017.

CenturyLink says that their G.fast technology will enable them to overcome the distance challenges in delivering Ethernet to certain businesses via traditional Category 5 cable. They claim that they can leverage existing coax and copper to extend high speed Ethernet services (e.g., 500 Mbps) to more customers with minimal disruption to a building`s tenants. The telcom also notes that they can deploy an optical data unit (ODU) outside a business site if the building owner does not want to provide the telco access to their wiring closet.

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Call Centers

Post-call telephone surveys are perhaps the most popular way to collect member feedback. However some contact centers are turning to live chat to solicit immediate feedback. Other channels for gathering feedback include Yelp, community forums, and monitoring social media like Twitter and Facebook. In terms of face to face surveys, there are also branch staff surveys, and the most involved of all: focus groups which permit the most in-depth feedback possible in a controlled setting.

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