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.
This Week's News is Sponsored by Better Branches ~
SwitchThink Solutions, an IT CUSO from Desert Schools FCU in partnership with Corelation, has launched. Services include development and consulting, disaster recovery, infrastructure hosting and managed services. The company aims to deliver hosted solutions via an exclusive Community Cloud operating the IBM Power-series running AIX and DB2.
A new feature from IBM Security aims to help FIs spot fraudulent accounts before they are opened. The New Account Fraud Detection solution combines machine learning and analytics with device and network information gained during the new account opening process to help identify fraud. Information such as IP address, geolocation and time zone, and health of the device are some of the data points that the technology can leverage to determine if there is fraudulent activity taking place.
Payrail announced its official company launch. Payrailz says it believes the industry is ready for a “do it for me” solution to better manage payment and money transfer needs, and they say that they have built a powerful engine driven by smart technology to help turn payments into an afterthought for consumers.
Hewlett Packard Enterprise (HPE) has revealed the HPE Superdome Flex, a scalable and modular in-memory computing platform that aims to enable organizations of any size to process and analyze massive amounts of data and turn it into real-time business insights. Designed with Memory-Driven Computing principles, HPE Superdome Flex provides a shared pool of memory over an ultra-fast fabric that’s capable of scaling from 768GB to 48TB in a single system.
Stardock Groupy, which is available in beta, is a Windows-management tool. It will allow Windows 7, 8.1 and 10 users to arrange their desktop windows together in the form of tabbed groups. Multiple applications, Web apps, documents, and files can be organized into grouped tabs, with the goal of making apps easier to access and manage.
Virtual Local Area Networks, or VLANs, are a based on the 802.1q standard and allow for physical networks to be isolated from each other, effectively creating smaller collision domains for devices to participate in. Segmenting parts of the network from the rest generally provides scalability, better performance, and enhanced security for both the network and the data traveling across the wire—physical or virtual. This article covers how VMs and VLANs work.
Nautilus Hyosung America announced the introduction of Just Cash, ATM functionality that means to enable bitcoin transactions on a standard ATM. According to the company, the software is supported by ATMs running the operating system WinCE 6.0, version V06.01.30 and above.
Despite the explosion of technology in the payments sector, demand for notes and coins continues to match or outpace GDP in all major economies bar Noway and Sweden, according to a report produced by the San Francisco Federal Reserve. The Fed researchers looked at cash use in 42 economies across the globe, which together account for 75% of world GDP. The study concludes that "despite the plethora of digital options, in most countries, demand for notes and coins is strong and shows no signs of slowing down."
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:
Denali Alaskan Federal Credit Union
While the rate of growth in ownership of smartphones has tapered off, exciting technologies are beginning to stimulate the imagination of the mobile consumer, including artificial intelligence (AI), machine learning, virtual reality (VR) and augmented reality (AR), the internet of things (IoT), 5G, and the integration with other non-phone devices (watches, glasses, tablets, etc.). At the end of the day, the banking industry must stay in front of these trends, offering consumers the experience they expect on the platform(s) they prefer.
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
Sensory announced that it has partnered with Fujitsu Limited to assist FIs in adopting face biometrics within their mobile apps. Sensory says that their TrulySecure face biometric authentication solution is FIDO Certified and provides users a secure mobile banking experience without compromising convenience.
Implementing Growth Strategies with the Help of Core Systems
This article looks at how FIs are bringing together their digital and bricks-and-mortar strategies to better focus on the consumer experience.
Global credit card giant Visa has rolled out the first, pilot phase of its blockchain-based business-to-business payments service, B2B Connect. First announced last year, Visa plans to use the platform to ease cross-border payments by facilitating direct payments between institutions, cutting out the middleman the industry currently relies on. The platform – developed with the assistance of blockchain startup Chain – is also designed to ensure secure, yet transparent payments between enterprises.
Many FIs see FinTech as a threat. At least, that is according to a recent report by PwC, which says that 88% of incumbent FIs see themselves losing revenues to FinTech innovators in the space. According to PWC’s most recent report “Redrawing the Lines: FinTech’s Growing Influence on Financial Service,” that 88% number is 24% higher than it was last year.
Forrester just recently published The Forrester Wave: Web Analytics, Q4 2017. In it they rank the leading Web analytics platform providers including Adobe, AT Internet, Cooladata, Google, IBM, Mixpanel, and Webtrekk.
CenturyLink is certainly keen on taking a bigger piece of the burgeoning SD-WAN market, but the service provider says that its ongoing implementation of SDN and NFV will enable it to deploy a wide variety of virtual business services. The company acknowledges that a likely near-term scenario is that businesses, particularly those that have an embedded base of MPLS, will run in a hybrid mode using a mix of SD-WAN and MPLS services.
HPE and Rackspace have partnered to offer pay-as-you-go services similar to the public cloud but located in private data centers. The OpenStack-based services can have the systems installed in users' own data centers, in a colocation facility, or in Rackspace’s data centers. The move is meant to counter the growing popularity of public cloud services where you pay as you go rather than make the up-front massive investment and then have to maintain and eventually dispose of the systems when they are old.
The author of this article maintains that by now it is abundantly clear that meeting and exceeding consumer expectations is or should be the ultimate objective of digitizing the business of banking. The buzzword that’s no longer a buzzword but has become an imperative for survival is “customer experience.” He notes that services such as customer analytics, customer retention management, and performance management, which once were considered valued-added services, were included in almost half of the contact center outsourcing contracts in the past two years.