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Sharetec System, a provider of both in-house and service bureau core solutions that serves nearly 300 credit unions, announced that Priority Plus Federal Credit Union, Wilmington, DE, plans to change core systems to Sharetec products. The $17 million CU was chartered in 1935 as Wilmington Postal Federal Credit Union.
Fort Bragg Federal Credit Union ($405 million; 40,000 members; Fort Bragg, NC) has signed with credit union core processing vendor, Corelation, Inc., to convert to its KeyStone core processing system March 1, 2019. Fort Bragg also looks to move to a hosted solution, and, as a result, is partnering with SwitchThink, a KeyStone CUSO, to help it make this move.
Digital Guardian announced that it has released new User and Entity Behavior Analytics (UEBA) capabilities for its cloud-delivered Data Protection Platform. Supplementing data classification and rule-based policies, the Digital Guardian Data Protection Platform now delivers advanced analytics and anomaly-based detection to help protect sensitive data.
Network packet brokers have played a key role in helping organizations manage their management and security tools. The tool space has exploded, and there is literally a tool for almost everything. Cybersecurity, probes, network performance management, forensics, application performance, and other tools have become highly specialized, causing organizations to experience something called “tool sprawl” where connecting a large number of tools into the infrastructure creates a big complex mesh of connections.
To make data transport easier, cloud providers have created physical storage devices that are built to travel. Amazon was the first of the cloud giants to offer a shippable storage device for migrating petabyte-scale data sets into the cloud. Its AWS Snowball appliance is a ruggedized device that resembles a PC tower. Google entered the market with its Transfer Appliance, a rackable storage server that started shipping this summer. IBM offers the Mass Data Migration device, and Microsoft has the Azure Data Box and newly previewed Azure Data Box Disk.
Trustwave has released Social Mapper, an open source tool that automates the process of discovering individuals’ social media accounts.
IBM X-Force Red has launched a dedicated ATM Testing practice in response to increased demand for securing financial transaction systems. In the Lab, the team will search for vulnerabilities in ATMs and other systems before and after they are put into market.
Cash in circulation has growth at a 5 percent rate for the past 20-plus years, with the number of notes in circulation doubling to 40 billion between 1996 and 2016. Even Amazon, with an increasing hold over consumer spending in an e-commerce environment, and Internet transactions growing at an annual rate above 15 percent, represents a sector with less than 10 percent of all retail transactions. Plus data from the Federal Reserve Bank of St. Louis shows that U.S. currency in circulation, over $1.6 trillion currently, continues to go in only one direction: up.
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:
In their first-ever test-based ratings of P2P mobile services, CR rated Apple Pay the highest overall, with excellent or very good marks in the key consumer-protection measures of payment authentication and data privacy. Apple's overall rating was significantly higher than for the other services they tested: Venmo, Square's Cash App, Facebook P2P Payments in Messenger, and Zelle.
Microsoft continues to make enhancements to Microsoft Pay in a highly competitive market for digital wallets - they just integrated Microsoft Pay with Masterpass, the online wallet from Mastercard that lets consumers pay with stored credentials from a variety of payment providers. Microsoft Pay is the renamed Microsoft Wallet service the company introduced in 2016 for its mobile-device line. Besides direct purchases, the wallet allows users to pay bills and buy goods in apps or through chatbots.
The MAP App™ is the first network-branded prepaid card exclusively serving credit unions to offer mobile banking -
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The author contends that we don't need more security products, companies, or marketing hype, but rather an overhaul of the whole approach to security solutions, not an improvement of components. Security should be built on platforms with a plug-and-play infrastructure that better supports buyers, connecting products in a way that isn't currently possible. He notes that one positive approach is Apache Metron, an open source security platform that emerged from Cisco.
New research from ESET reveals that three in four IT decision makers (75%) believe that AI (Artifical Intelligence) and ML (Machine Learning) are the silver bullet to solving their cybersecurity challenges. The majority of respondents said that AI and ML would help their organization detect and respond to threats faster (79%) and help solve a skills shortage (77%).
The author states that when consumers realize the speed and convenience you operate during the onboarding process, they are likely to stay with you for a longer period. In this article she covers a few questions you need to ask yourself, even before you start charting down the digital capabilities and functionalities.
A collaboration between Visa, Filene Research Institute and the Ford Foundation aimed at strengthening access to financial services reached 18,000 underbanked households over the past 18 months. The effort, called the “Reaching Minority Households Incubator” program, worked with 40 credit unions across the U.S. and Canada to test financial products and services designed to address the needs of minority communities. During the 18-month testing period, the incubator program issued more than 58,000 loans totaling more than $80 million.
Thanks to Alexa, Siri and Google, voice assistant devices have rapidly multiplied — 47 million U.S. adults now own voice-responsive speakers, according to one recent study. Yet customers don't appear to want to talk about finances with such devices, according to new research from Javelin Strategy & Research. More than half of 10,000 consumers surveyed by Javelin said they weren’t interested in getting account balances and transaction details using Google Assistant or Amazon Alexa.
Cisco is moving rapidly toward its ultimate goal of making SD-WAN features ubiquitous across its communication products, promising to boost network performance and reliability of distributed branches and cloud services. The company just took a giant step in that direction by adding Viptela SD-WAN technology to the IOS XE software that runs its core ISR/ASR routers. The release of Cisco IOS XE provides an instant upgrade path for creating cloud-controlled SD-WAN fabrics to connect distributed offices, people, devices and applications operating on the installed base.
Nearly half of contact centers around the world have deployed cloud-based solutions, with another third in the process of implementation, according to an IDC white paper sponsored by Genesys. The report found five key benefits arose as firms shifted their contact centers from an on-premises deployment to the cloud: 1) Improved customer service - 72%; 2) Adding new social media features, chatbots, and other tools for customer interaction - 75%; 3) Better agent efficiency and productivity - more than 70%; 4) Improved scalability for business needs - 71%; and 5) The ability to move from a CapEx to OpEx model - more than 66%.