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Sharetec announced that C&WJ Credit Union in Kingston, Jamaica has signed with Sharetec Core to be their new banking system. Some features that the 87,000 member credit union plans to use include: the multi-currency functionality, the workflow management system to help enable the hundreds of daily loan applications to go through the right steps for review, real-time fraud monitoring, and real-time member alerts.
Sageworks announced the introduction of its API Network. More than 1,100 institutions use Sageworks throughout the life of the loan, and with this enhancement, institutions can bridge Sageworks with other software applications that they may use with an aim to gain easy access to data for internal analysis.
Synergent announced that Oxford Federal Credit Union has signed a ten-year renewal agreement for the Symitar Episys Core Processing Solution with Synergent Technology Services. Oxford FCU is also a client of Synergent’s Marketing and Payment Services. Based in Mexico, Maine, the credit union has $180 million in assets and 16,853 members.
Dell EMC is expanding its midrange storage portfolio with two new SC All-Flash data storage arrays, along with key software updates to Dell EMC Unity designed to boost efficiency and cost savings for mixed block and file workloads. Additionally, Dell EMC is introducing its Future-Proof Storage Loyalty Program which offers a three-year satisfaction guarantee along with customer benefits such as all-inclusive software, hardware investment protection, storage efficiency guarantees, data migrations and free Virtustream Storage Cloud.
IBM unveiled its first Power9 server, which runs a version of the Power9 chip tuned for Linux, with the four-way multithreading variant SMT4. Power9 chips with SMT4 can offer up to 24 cores, though the chips in the AC922 top out at 22 cores. The fastest Power9 in the AC922 runs at 3.3GHz. The Power9 family distinguishes itself by being the first processor line to support a range of new I/O technologies, including PCI-Express 4.0 and NVLink 2.0, as well as OpenCAPI, an interface architecture for high bandwidth AI and database accelerators such as ASICs and FPGAs.
With consumer-based, IP cameras becoming so popular and easy to use, CSO wondered if they were ready for use by small businesses or within larger enterprises? The answer is a qualified yes for small businesses, and probably not for enterprises.
VMware released a new version of its NSX virtual networking software that aims to make it easier to manage network requirements of cloud-native and application-container-based applications. The move represents the latest example of a network vendor evolving its automation tooling to operate in not just traditional data center and campus networks, but increasingly in cloud environments that cater to a faster-pace of application development.
FIs should already be working under the assumption that open banking is a reality, even though it remains very much a work in progress in many markets. APIs have a critical role to play in the move towards open banking. The easier sharing of data between different organizations creates new opportunities for collaboration and the delivery of third-party services. FIs that want to get out in front of one of the biggest transformations the industry has experienced in recent times should be taking action now.
Mastercard Cash Pick-Up allows FIs and their disburser partners to deliver cash quickly, securely and easily to any vetted consumer – banked or unbanked – through enabled ATMs, without the use of a card.
Crooks who make and deploy ATM skimmers are constantly engaged in a cat-and-mouse game with FIs, which deploy a variety of technological measures designed to defeat skimming devices. The latest innovation aimed at tipping the scales in favor of skimmer thieves is a small, battery powered device that provides the scammers with a digital readout indicating whether an ATM likely includes digital anti-skimming technology. A well-known skimmer thief is marketing a product called “Smart Shield Detector” that claims to be able to detect a variety of electronic methods used by FIs to foil ATM skimmers. The device, which sells for $200, is called a “Smart Shield Detector,” and promises to detect “all kinds of noise shields, hidden shields, delayed shields and others!”
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:
and their client is:
Technology Credit Union
Voice assistants like Alexa and Siri could be the future of banking, as more and more consumers indicate a willingness to interact with their FI through these platforms, a study by NTT Data found. When it comes to voice, 41% of consumers that identified as “explorers” would use platforms like Siri or Alexa to communicate with their FIs, the study of 1,102 consumers (and 102 FIs in the U.S.) found. While only 27% of those surveyed in the study were identified as “explorers,” or those more willing to turn to technology or share more of their data with a FI, the study highlighted this segment as “the most important segment for financial services and insurance carriers to pay attention to.” These explorers are also much more willing to give out more personal data if it means a better digital banking experience, NTT Data found.
Sprint announced it is offering a new small cell solution from SpiderCloud as part of its plan to densify its network and improve service at organizations and public venues across the country. The solution, which is currently available for Sprint’s 1.9 GHz PCS spectrum with 2.5 GHz support coming next year, is designed to make LTE small cell deployment as easy as enterprise Wi-Fi.
The 2017 BAI Banking Outlook research study, published by the Bank Administration Institute, probed consumers’ opinions on a variety of financial services topics that are top of mind for the industry. Most new customers that financial services organizations gain are Millennials. Nearly 75% of millennials find a new primary financial institution (PFI) through website research or online ads, yet financial services organizations only designate about 33% of their advertising budget to digital channels. Plus, 70% of financial services organizations surveyed believe their banking applications meet the needs of their users, but over half of Millennials said they would change financial services organizations for a better banking app.
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VMware and Carbon Black announced an expanded partnership that will help transform current approaches to cloud and data center security. The announcement expands on a collaboration announced earlier this year, giving VMware AppDefense customers the ability to leverage Carbon Black’s Predictive Security Cloud reputation services. The newly jointly-developed solution will combine VMware AppDefense and Cb Defense’s advanced threat protection to provide assistance in stopping threats to applications inside the data center.
Organizations know they need to get serious about threat intelligence, but it is not always clear where to find credible information. While just about every security industry vendor website offers up information on the latest threats, some are better than others. This article aims to point out the sites that are the most informative and useful.
Implementing Growth Strategies with the Help of Core Systems
Marketing today is very different than it has been in the past, even five years ago. It has become very specialized. It’s important that you find an agency that can do both traditional and digital marketing under one roof. Look for a holistic agency that has a complete arsenal of industry experts in the following: web development, branding, design, writing, social media, database marketing, search engine optimization (SEO), search engine marketing (SEM), knowledge of financial services, research/analytics, marketing automation, and strategic content generation.
The trends are: 1) Smashing Silos: Cross-Departmental Integration, 2) Omni-Channel Measurement & Marketing ROI, 3) Investing In New Skillsets: The Rise of Digital and Data Specialists, 4) Content Creation, 5) Data Integration, 6) Predictive Analytics & Machine Learning, 7) Data-Driven Personalization, 8) Chatbots, 9) Voice Search and Digital Assistants, 10) Micro-Moments, 11) Video Advertising, and 12) The Rise of Gen Z.
Constellation views both service providers and CUs as customers. Service providers want lasting relationships with CUs and credit unions want to integrate their financial services; Constellation aims to fill both these needs with a product that is an open-development platform for financial services that allows credit unions to access a marketplace of services written specifically for that platform.
As digital banking capabilities have expanded, consumer adoption of online and mobile channels has continued to climb. Surprisingly, consumer use of traditional banking channels — branch, ATM, call center — has dropped little. Consumers continue to turn to offline channels in high volumes for activities more easily accomplished through digital channels. The reasons for this continued use of traditional channels for digital-capable transactions are varied, from consumer preference for speaking with a person, to the perceived convenience of bundling multiple transactions into a single branch visit, to consumer inertia from always having completed an activity in a particular channel.
Despite the public cloud seemingly grabbing the lion’s share of attention in the cloud market, private and hybrid cloud computing markets have been growing robustly as well and experts predict they will only gain importance in 2018 and beyond.
SD-WAN, or software-defined Wide Area Network, is exploding, and is the hottest topic within the networking space right now. Estimated to be worth just $225M back in 2015, IDC predicts that sales of SD-WAN technology will reach $1.19B by the end of this year, and mushroom to $8.05bn by 2021. Increasingly, businesses are moving to a cloud-based environment and setting themselves up as being mobile-first, and SD-WAN is simply better-suited to this evolving landscape than other alternatives on the market.
Verizon Enterprise Solutions is giving its business customers that are starting down a path toward network virtualization a new option to combine functions and components into an operating expense software licensing model that does not require a separate hardware cost. With Verizon’s Virtual Network Services, business customers can get various features including: a single line-item "pay-as-you-go" pricing and billing for hardware, software and management services as well as an option for centralized contracting and billing. Offering a bundled virtual network service platform follows the service provider’s introduction of its universal customer premises equipment (uCPE) solution, which was built to provide end customers the ability to more rapidly scale and provision new services such as security services and private networking services.
In the small contact center, one person calling out sick can wreak havoc on service levels. And for contact centers of any size, agent attrition remains a top challenge. If you are looking for a few ways to reduce both absenteeism and attrition, then this article can help.