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Sharetec System announced that 16 new credit unions have signed with Sharetec during 2017. Sharetec now has a client list that numbers nearly 300 credit unions with 67% growth since 2000.
Analytics software firm FICO announced the evolution of the FICO Score XD with the general availability of FICO Score XD 2. FICO Score XD was specifically designed to provide a reliable credit score for consumers that were previously unscorable based on their traditional credit data alone - it has been optimized to leverage alternative data sources to increase credit access and give card issuers a second opportunity to assess otherwise unscorable consumers.
Chipmaker AMD issued updates to combat a variant of the Spectre flaw, which makes computer processors vulnerable to attacks that could reveal sensitive information like passwords. For Microsoft Windows users, AMD said a combination of processor microcode updates and a fully up-to-date version of the operating system would mitigate Variant 2 of the Spectre flaw.
Microsoft has announced the general release of the complimentary Windows Admin Center (WAC), a browser-based IT administration console designed to manage Windows servers and workstations. The WAC is not designed to completely replace the Microsoft Management Console or the Remote Server Administration Tools: Both have features that aren't included in the WAC. You will still have to use those other tools to manage things like DHCP, Active Directory, DNS, and IIS.
Despite concerns over data privacy and immature technology, AI assistants and chatbots are gaining a foothold among businesses, according to a report from IT professional network Spiceworks. AI assistants and chatbots are used in a variety of ways, the most common of which is voice-to-text dictation (cited by 46% of survey respondents), while 26% have used them to support team collaboration tasks and 24% deploy them for employee calendar management. Other use cases include email management (14%), customer service (14%), IT help desk management (13%) and data analysis (10%).
The vast majority (91 percent) of U.S. ATMs are now EMV-capable, and fully 86 percent accept chip-on-chip transactions, according to new research from the ATM Industry Association. This represents significant improvement from an estimated 19 percent at the beginning of 2016, and 58 percent at the beginning of 2017. At 10 and 11 percent, respectively, problems with EMV cards and EMV readers were lingering issues. However, previous issues with misrouted transactions seem to have mostly subsided.
North Peace Savings & Credit Union and design/build firm NewGround announced the credit union has received recognition for the top award of excellence in the category of Commerce New from the Northern BC Commercial Building Awards for their new service center in Dawson Creek, BC. Through two Face 2 Face personal teller machines (PTMs), members can connect to live tellers through video banking, delivering a direct personal experience with contact between the member and teller, the company said.
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 clients are:
Ball State FCU and Andover FCU
Entersekt has launched Connekt which is a digital commerce enablement product. The company says that Connekt is a secure service platform and a menu of on-the-go digital payments functionality and third-party products, including tokenization and HCE wallets for tap to pay, QR-based scan to pay, and 3-D Secure 1.0 and 2.0.
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
EMV has done an awful lot to slam the door shut on card-present fraud. According to Visa, counterfeit fraud at U.S. chip-enabled merchants was down 66 percent in June of 2017 compared to June of 2015. However, CNP fraud is now 81 percent more likely to occur than point-of-sale (POS) fraud. Some observers say that the challenge is in the “yellow lights” — when a transaction isn’t clearly fraud but some details are unusual. A smart system specializes in those yellow light reviews.
PowerShell has deep roots in the DOS command line that came with the first IBM PCs back in the 1980s and the .NET universe. It is now the default command shell that is packaged in the current Windows 10 version. This article shows you how attackers can leverage this language.
Members of the Federal Financial Institutions Examination Council have issued a joint statement regarding matters that FIs should consider in determining whether to include cyberinsurance as a component of their risk management program. Cyberinsurance is not required by the FFIEC, but a press release from the council said that the shifting cyber threat landscape might prompt FIs to consider adding it to their risk management programs.
This article asks the question: "As an industry, are we interesting?" We have an expensive branch distribution network that sees less and less foot traffic each year. What can we do to create interest—along with more involving and compelling interactions from consumers?
The author has 5 suggestions for CUs looking to build an impactful content marketing program: 1) Invest in Mobile; 2) Interact; 3) Personalize; 4) Educate; and 5) Market Targeted Products.
A new app from Australia's UBank offers a fresh twist in the PFM space, providing users with a single daily number of their free-to-spend cash, updated in real-time. Inspired by the simplicity and functionality of fitness trackers, Free2Spend aims to streamline budget management one day at a time, with one number to help users stay on track in the simplest way possible.
The signature, a centuries-old way of verifying identity, is rapidly going extinct. Target plans to eliminate them this month. Walmart considers signatures “worthless” and has already stopped recording them on most transactions. American Express is dropping its signature requirement globally, on all of its cards. Mastercard is ending the requirement only in the US and Canada. Discover’s change applies in those countries plus Mexico and the Caribbean. Visa is making signatures optional in all of North America, but only for retailers with payment systems that read chip cards.
PayPal is looking to expand into something closer to a FI. It’s beginning to roll out more traditional banking services to customers, including ATM-compatible debit cards, the direct deposit of paychecks, and FDIC insurance.
The definition of hybrid cloud varies depending on who you ask, but it always involves using both private and public clouds, and you need a strategy. Increasingly, it’s about moving workloads seamlessly between public and private cloud platforms and creating a consistent architecture across both environments. Some vendors are promising these capabilities soon, while others are already starting to deliver.
Security in the cloud was a challenge for 97% of respondents in a new global survey by Sumo Logic, entitled 2018 Global Security Trends in the Cloud. Most report a lack of tools, cross-functional collaboration, and resources to gain insight into enterprise security. Nearly all (93%) respondents have issues using security tools in the cloud. About half (49%) say existing tools aren't effective in their cloud environments, stating too many tools makes it hard to know what to prioritize. Forty-five percent say they can't investigate threats in a timely manner because of poor integration.
Internet-based virtual private networks rose to popularity in the 1990s by providing cost effective connections securely across an insecure Internet, and along the way VPNs have provided the impetus for today’s SD-WAN technology. This article provides an in-depth look at various VPN configurations and shows why SD-WAN should be thought of as the next major evolutionary step for the technology.
With more than six billion texts sent each year in the United States, some credit unions are realizing that members aren’t looking to just talk. Some CU contact centers that use texts note that branch hours and account balances are among the most frequent text questions. One CU stated that they get a five percent response when they call members, but with texting they get a 75 percent response rate.
The usual assumptions are: a) there must be industry standards for abandonment; and b) abandonment is a good indicator of contact center performance. But neither is true. For one thing, abandonment is tough to forecast accurately, at least on a consistent basis. To do so would require predicting the impact of the seven factors of caller tolerance. But because the conditions that drive them are constantly changing, there are an almost unlimited number of variables that can have an impact on abandonment.